The global flexible packaging market was worth around USD 160.1 billion in 2021 and is estimated to grow to about USD 206.1 billion by 2028, with a compound annual growth rate (CAGR) of approximately 4.3 percent over the forecast period.
Industry Prospective:
The global flexible packaging market was worth around USD 160.1 billion in 2021 and is estimated to grow to about USD 206.1 billion by 2028, with a compound annual growth rate (CAGR) of approximately 4.3 percent over the forecast period. The report analyzes the flexible packaging market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the flexible packaging market.
Flexible Packaging Market: Overview
Flexible packaging has gained substantial demand over the past few years as innovation in the packaging industry has seen a major impetus owing to changing consumer preferences and requirements in multiple end use applications across various industry verticals.
Rising demand for packaging solutions, increasing sales of multiple products, increasing focus on sustainable packaging, increasing disposable income, the growing popularity of online sales channels, and the emergence of e-commerce are expected to be major factors influencing flexible packaging market growth through 2028.
COVID-19 Impact:
The pandemic of 2020 resulted in a major change in consumer trends across the world owing to the drastic effects of widespread coronavirus infections. This sudden change in demand and supply impacted the overall packaging market and had a substantially adverse impact on demand for flexible packaging in 2020.
With lockdown restrictions being common across the world, manufacturing and supply chain activity came to a near halt due to a lack of labor and raw material. Closure of multiple sales and distribution channels also impacted the sales of flexible packaging throughout the year.
However, the flexible packaging market is expected to make a steady comeback in the post-pandemic era and is expected to surge as the world returns to normalcy and demand for flexible packaging through 2028 bolsters.
Flexible Packaging Market: Growth Drivers
Cost-Effective Nature
Research and development in the packaging industry have bolstered over the past few years and the world has seen some major innovations in this field owing to constant changes in the packaging industry landscape. Flexible packaging has emerged as a popular choice due to its cost-effective nature and having a longer shelf life than that of other packaging options. Other than that the changing demand for more nimble and delicate packaging in an affordable manner has fostered the demand for flexible packaging products through 2028
Flexible Packaging Market: Restraints
Lack of Efficient Recycling Infrastructure
Packaging trends have drastically evolved over recent years but the packaging recycling infrastructure has not seen development and is still pretty much outdated which makes it a huge challenge for flexible packaging manufacturers to end their product lifecycle in an eco-friendly manner. With no proper infrastructure to recycle the flexible packaging waste, there will be a drop in the adoption of this type of packaging and thus will act as a major restraining factor to the growth of the flexible packaging market through 2028.
Flexible Packaging Market: Opportunities
Increasing Demand for Sustainable Packaging
Increasing focus on waste management has substantially propelled the demand for sustainable products and since packaging waste is a major contributor to the global waste problem, the need to develop sustainable packaging is more prominent than it was ever before and hence this is expected to provide a lucrative opportunity to flexible packaging market players over the forecast period. Increasing research and development activity to develop eco-friendly sustainable packaging is expected to be a major trend for flexible packaging market growth through 2028 and flexible packaging market players are expected to capitalize on this trend over the forecast period to boost their profit numbers.
Flexible Packaging Market: Challenges
Increasing Environmental Concerns regarding the use of Plastic
Plastic is and has been a major part of all kinds of packaging across the world and since plastic is a major harm to the environment its use is being restricted and limited across the world. These restrictions are expected to be major challenges for flexible packaging market growth through 2028. Increasingly stringent mandates about the use of plastic in packaging are anticipated to prove to be a major challenge for multiple flexible packaging companies across the world.
Global Flexible Packaging Market: Segmentation
The global flexible packaging market is segregated based on type, material, technology, application, and region.
By Material, the market is divided into plastic, aluminum foil, others (including coating, ink, coating, and adhesive). The plastic segment is expected to maintain a dominant outlook throughout the forecast period but is expected to see a decline in popularity by the end of the forecast period owing to increasing efforts to phase out plastic from the packaging industry to comply with sustainability goals.
By Application, the flexible packaging market is segmented into food, beverage, pharma & health care, personal care & cosmetics, others (includes consumer goods, oil & lubricants, agriculture, automotive, household products, tobacco, and sporting goods). The food and beverages segments are expected to lead the market. The pharma and health segment is anticipated to see a substantial increase in demand through 2028.
Report Scope:
Report Attribute | Details |
---|---|
Base Year | 2020 |
Historic Years | 2016 - 2020 |
Forecast Years | 2021 - 2028 |
Segments Covered | By Product Type, By Application, and By End Use |
Forecast Units | Value (USD Billion), and Volume (Units) |
Quantitative Units | Revenue in USD million/billion and CAGR from 2021 to 2028 |
Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
Number of Companies Covered | 10 companies with scope for including additional 15 companies upon request |
Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
Customization Scope | Avail customized purchase options to meet your exact research needs. |
Recent Developments
Regional Landscape
Asia Pacific region leads the global flexible packaging market in terms of revenue and volume share and is anticipated to hold a dominant stance over the forecast period through 2028. Increasing disposable income, the growing popularity of e-commerce and online shopping, the presence of key flexible packaging companies, rising demand for ready-to-eat foods and consumables are some of the major factors propelling market growth through 2028.
The market for flexible packaging in Europe is expected to significant demand owing to rising demand for packaging in the pharmaceutical industry vertical. The personal care and cosmetics industry in this region is also expected to drive flexible packaging market growth over the forecast period.
Competitive Landscape
Some of the main competitors dominating the global flexible packaging market include - Sealed Air Corporation (US), Amcor (Australia), Berry Global Inc. (US), Mondi (South Africa), Sonoco (US), Huhtamaki (Finland), Coveris (Austria), Transcontinental Inc. (Canada), and Clondalkin Group (The Netherlands)..
Global flexible packaging market is segmented as follows:
By Type
By Material
By Technology
By Application
By Region
List of Figures
1. Market research process
2. Market research methodology
3. Global flexible packaging market revenue, 2015 – 2024 (USD Billion)
4. Porter’s five forces analysis
5. Flexible packaging market attractiveness analysis, by material segment
6. Flexible packaging market attractiveness analysis, by product segment
7. Flexible packaging market attractiveness analysis, by end-user segment
8. Flexible packaging market: market attractiveness analysis, by regional segment
9. Company market share analysis, 2017
10. Global flexible packaging market revenue share by material 2017 and 2024
11. Global flexible packaging market for plastic market, 2015 – 2024 (USD Billion)
12. Global flexible packaging market for flexible foam market, 2015 – 2024 (USD Billion)
13. Global flexible packaging market for paper market, 2015 – 2024 (USD Billion)
14. Global flexible packaging market for aluminum foil market, 2015 – 2024 (USD Billion)
15. Global flexible packaging market revenue share by product 2017 and 2024
16. Global flexible packaging market for pouches market, 2015 – 2024 (USD Billion)
17. Global flexible packaging market for wraps market, 2015 – 2024 (USD Billion)
18. Global flexible packaging market for bags market, 2015 – 2024 (USD Billion)
19. Global flexible packaging market revenue share by end-user, 2017 and 2024
20. Global Flexible packaging market for food market, 2015 – 2024 (USD Billion)
21. Global flexible packaging market for pharmaceutical market, 2015 – 2024 (USD Billion)
22. Global flexible packaging market for household & personal care market, 2015 – 2024 (USD Billion)
23. Global flexible packaging market for others market, 2015 – 2024 (USD Billion)
List of Tables
1. Flexible packaging market: market snapshot
2. Drivers of global flexible packaging market: impact analysis
3. Restraints of global flexible packaging market: impact analysis
4. North America flexible packaging market revenue, by material, 2015 – 2024 (USD Billion)
5. North America flexible packaging market revenue, by product, 2015 – 2024 (USD Billion)
6. North America Flexible packaging market revenue, by end-user, 2015 – 2024 (USD Billion)
7. U.S. Flexible packaging market revenue, by material, 2015 – 2024 (USD Billion)
8. U.S. flexible packaging market revenue, by product, 2015 – 2024 (USD Billion)
9. U.S. Flexible packaging market revenue, by end-user, 2015 – 2024 (USD Billion)
10. Canada Flexible packaging market revenue, by material, 2015 – 2024 (USD Billion)
11. Canada flexible packaging market revenue, by product, 2015 – 2024 (USD Billion)
12. Canada Flexible packaging market revenue, by end-user, 2015 – 2024 (USD Billion)
13. Mexico Flexible packaging market revenue, by material, 2015 – 2024 (USD Billion)
14. Mexico flexible packaging market revenue, by product, 2015 – 2024 (USD Billion)
15. Mexico Flexible packaging market revenue, by end-user, 2015 – 2024 (USD Billion)
16. Europe Flexible packaging market revenue, by material, 2015 – 2024 (USD Billion)
17. Europe flexible packaging market revenue, by product, 2015 – 2024 (USD Billion)
18. Europe Flexible packaging market revenue, by end-user, 2015 – 2024 (USD Billion)
19. UK Flexible packaging market revenue, by material, 2015 – 2024 (USD Billion)
20. UK flexible packaging market revenue, by product, 2015 – 2024 (USD Billion)
21. UK Flexible packaging market revenue, by end-user, 2015 – 2024 (USD Billion)
22. Germany Flexible packaging market revenue, by material, 2015 – 2024 (USD Billion)
23. Germany flexible packaging market revenue, by product, 2015 – 2024 (USD Billion)
24. Germany Flexible packaging market revenue, by end-user, 2015 – 2024 (USD Billion)
25. France Flexible packaging market revenue, by material, 2015 – 2024 (USD Billion)
26. France flexible packaging market revenue, by product, 2015 – 2024 (USD Billion)
27. France Flexible packaging market revenue, by end-user, 2015 – 2024 (USD Billion)
28. Spain Flexible packaging market revenue, by material, 2015 – 2024 (USD Billion)
29. Spain flexible packaging market revenue, by product, 2015 – 2024 (USD Billion)
30. Spain Flexible packaging market revenue, by end-user, 2015 – 2024 (USD Billion)
31. Russia Flexible packaging market revenue, by material, 2015 – 2024 (USD Billion)
32. Russia flexible packaging market revenue, by product, 2015 – 2024 (USD Billion)
33. Russia flexible packaging market revenue, by end-user, 2015 – 2024 (USD Billion)
34. Italy flexible packaging market revenue, by material, 2015 – 2024 (USD Billion)
35. Italy flexible packaging market revenue, by product, 2015 – 2024 (USD Billion)
36. Italy flexible packaging market revenue, by end-user, 2015 – 2024 (USD Billion)
37. Asia pacific flexible packaging market revenue, by material, 2015 – 2024 (USD Billion)
38. Asia Pacific flexible packaging market revenue, by product, 2015 – 2024 (USD Billion)
39. Asia pacific Flexible packaging market revenue, by end-user, 2015 – 2024 (USD Billion)
40. China Flexible packaging market revenue, by material, 2015 – 2024 (USD Billion)
41. China flexible packaging market revenue, by product, 2015 – 2024 (USD Billion)
42. China Flexible packaging market revenue, by end-user, 2015 – 2024 (USD Billion)
43. Japan Flexible packaging market revenue, by material, 2015 – 2024 (USD Billion)
44. Japan flexible packaging market revenue, by product, 2015 – 2024 (USD Billion)
45. Japan flexible packaging market revenue, by end-user, 2015 – 2024 (USD Billion)
46. India flexible packaging market revenue, by material, 2015 – 2024 (USD Billion)
47. India flexible packaging market revenue, by product, 2015 – 2024 (USD Billion)
48. India flexible packaging market revenue, by end-user, 2015 – 2024 (USD Billion)
49. Southeast Asia flexible packaging market revenue, by material, 2015 – 2024 (USD Billion)
50. Southeast Asia flexible packaging market revenue, by product, 2015 – 2024 (USD Billion)
51. Southeast Asia Flexible packaging market revenue, by end-user, 2015 – 2024 (USD Billion)
52. South Korea flexible packaging market revenue, by material, 2015 – 2024 (USD Billion)
53. South Korea flexible packaging market revenue, by product, 2015 – 2024 (USD Billion)
54. South Korea flexible packaging market revenue, by end-user, 2015 – 2024 (USD Billion)
55. Australia flexible packaging market revenue, by material, 2015 – 2024 (USD Billion)
56. Australia flexible packaging market revenue, by product, 2015 – 2024 (USD Billion)
57. Australia flexible packaging market revenue, by end-user, 2015 – 2024 (USD Billion)
58. Latin America flexible packaging market revenue, by material, 2015 – 2024 (USD Billion)
59. Latin America flexible packaging market revenue, by product, 2015 – 2024 (USD Billion)
60. Latin America Flexible packaging market revenue, by end-user, 2015 – 2024 (USD Billion)
61. Brazil flexible packaging market revenue, by material, 2015 – 2024 (USD Billion)
62. Brazil flexible packaging market revenue, by product, 2015 – 2024 (USD Billion)
63. Brazil Flexible packaging market revenue, by end-user, 2015 – 2024 (USD Billion)
64. Middle East and Africa flexible packaging market revenue, by material product, 2015 – 2024 (USD Billion)
65. Middle East and Africa flexible packaging market revenue, by product, 2015 – 2024 (USD Billion)
66. Middle East and Africa flexible packaging market revenue, by end-user, 2015 – 2024 (USD Billion)
67. GCC Countries flexible packaging market revenue, by material, 2015 – 2024 (USD Billion)
68. GCC Countries flexible packaging market revenue, by product, 2015 – 2024 (USD Billion)
69. GCC Countries flexible packaging market revenue, by end-user, 2015 – 2024 (USD Billion)
70. South Africa flexible packaging market revenue, by material, 2015 – 2024 (USD Billion)
71. South Africa flexible packaging market revenue, by product, 2015 – 2024 (USD Billion)
72. South Africa flexible packaging market revenue, by end-user, 2015 – 2024 (USD Billion)
Packaging can be referred to as the process of covering, casing, and securing any type of products from any external damage. Packaged items are available for storage, sale, and usage in many retail outlets, supermarkets, and hypermarkets. Flexible packaging is the method of packaging materials that when packed, can be readily changed into various shapes. The different shapes can be achieved by paper, plastic film, foil, or the grouping of the listed items. Basically, papers, plastics, foams, and foils are the crucial products of flexible packaging products whose shape, size, and structure can be easily produced. Moreover, flexible packaging is considered the most cost-effective way to package, safeguard, and dispense food, beverages, and other consumer usable products that need a longer shelf life.
Flexible packaging market is experiencing the highest growth rate in developed as well as developing countries. The advancements of technology in flexible packaging have resulted in upgradation and innovation in the product development in many sectors of the industry. Many organizations are significantly investing their capital in research and development in order to come up with the exclusive and economical products. Hence, the innovations, particularly in the packaging industry are rising exponentially. In July 2017, the American Packaging Company made investments in a digital system. That system was designed to serve the purpose for flexible packaging to enable greater choice of products from consumer’s point of view. In addition, the rising middle-class population followed by the significant change in their lifestyle is contributing to the growth of the market. This has led to the ever increasing and growing need of the consumers. In the modern world, there has been a rising consumption of food among the population. So, consumers prefer an easy, simplistic, and convenient method of packaging those food products which are basically ready to eat or ready to serve. Hence, such factors are contributing to the flexible packaging market growth over the forecast period.
Based on material, the flexible packaging market is segmented into flexible foam, aluminum foil, paper, and plastic. On the basis of the product, the market is categorized into bags, wraps, and pouches. Based on end-user, the flexible packaging market is bifurcated into pharmaceuticals, food, household cosmetics & personal care, and others.
The Asia Pacific held major revenue share of the global flexible packaging market in 2017 and the region is expected to continue with its regional superiority over the forecast period. The growth of this regional market is attributed due to the rising demand of the food industry. This factor is anticipated to further drive the industry growth in the region over the forecast period. Europe is predicted to provide significant opportunities for the flexible packaging market. The growth is anticipated in the region due to the growing demand for the cosmetic and processed food products among the population. Such factors are expected to drive flexible packaging market growth over the forecast timeframe.
Some of the industry players operating in the flexible packaging market are Constantia Flexible Group GmbH, Mondi Group, Sealed Air Corporation, Bemis Company, Inc., Clondalkin Group Holdings B.V., Sonoco Products Company, Amcor Limited, Coveris Holdings S.A., Huhtamaki Group, Ampac Holdings LLC, and others.
Request the coronavirus impact analysis across industries and markets
Increasing demand for sustainable and recyclable packaging solutions is a major trend that guides the flexible packaging market growth.
According to the Zion Market Research report, the global flexible packaging market was worth about US$ 160.1 billion in 2021 and is predicted to grow to around US$ 206.1 billion by 2028, with a compound annual growth rate (CAGR) of around 4.3 percent.
Asia Pacific region leads the global flexible packaging market in terms of revenue and volume share and is anticipated to hold a dominant stance over the forecast period through 2028. Increasing disposable income, the growing popularity of e-commerce, etc., are popular trends.
Some of the main competitors dominating the global flexible packaging market include -- Sealed Air Corporation (US), Amcor (Australia), Berry Global Inc. (US), Mondi (South Africa), Sonoco (US), Huhtamaki (Finland), Coveris (Austria), Transcontinental Inc. (Canada), and Clondalkin Group (The Netherlands).
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