The global Flexible Packaging Market size is expected to reach USD 373.34 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.7% from 2024 to 2030.This market growth is owing to the growing importance of increasing food shelf life and growing adoption of sustainable and cost-effective packaging by end-users.
The
shelf life of food products depends on factors such as storage conditions,
packaging material, and exposure to microorganisms, oxygen, light, and
moisture. The flexible packaging consists of plastic films with high barrier
properties. The high-barrier properties efficiently block the transmission of
moisture, light, and oxygen from contacting sensitive foods. Furthermore, the
reseal closure products featured flexible packaging that allow users to
securely close the bags or pouches, ensuring the freshness of the packaged food
products over several uses.
In
addition, flexible packaging consumes less energy compared to rigid packaging
during manufacturing and transportation. According to the Flexible Packaging
Association, 50% less energy is required to produce a flexible pouch compared
to a rigid container of a similar size. In addition, flexible packaging weighs
lighter compared to rigid packaging, thus resulting in less fuel consumption
during transportation. According to the Flexible Packaging Association, one
truckload of flexible pouches can hold the same amount of product as 26
truckloads of rigid containers.
The
industry players are adopting several strategies including partnerships,
expansions, mergers & acquisitions, joint ventures, new product launches,
and partnership agreements to increase the customer base and individual market
share. For instance, in May 2023, Amcor plc inked an agreement to acquire New
Zealand-based automated protein packaging machines manufacturer, Moda Systems.
This acquisition is expected to provide Amcor plc with a new option related to
equipment in automated protein products packaging, making it the only flexible
packaging manufacturer to own high-speed rotary equipment for packaging fresh
meat.
Related Press
Release@ Flexible
Packaging Market Report
List of Key Players in the Flexible Packaging Market
- Amcor plc
- Mondi Group
- Huhtamaki
Flexible Packaging
- Sonoco
Products Company
- SEE
- Constantia
Flexibles
- Bemis
Manufacturing Company
- UKrMetal
- ProAmpac
- Wipak Group
- Berry Global
Inc
- FlexPak
Services
- Transcontinental
Inc.
- Coveris
- DS Smith
- American
Packaging Corporation
- InterFlex
Group
- FLEX-PACK
ENGINEERING, INC.
- Innovia
Films
- Cosmo Films
- Novolex
- Sigma
Plastics Group
- Graphic
Packaging International, LLC
- Bischof+Klein
SE & Co. KG
- Südpack
Flexible Packaging Market Report Highlights
- The rapid
growth of e-commerce sector globally creates opportunities for flexible
packaging manufacturers to cater to the specific needs of online retail
businesses. Companies that develop packaging solutions to protect products
during transit, reduce damage, and improve unboxing experiences can gain a
competitive advantage in the e-commerce market
- The growing
number of medical device manufacturers and ongoing research on new
packaging materials is driving the market for medical flexible packaging.
The strong healthcare infrastructure coupled with growing healthcare
spending in the public sector is expected to have a positive impact on
market demand
- The pouches
segment is expected to grow at a CAGR of 5.2% over the forecast period
2024-2030. This is owing to the pouches being resealable and a
cost-effective alternative to metal, cardboard, and glass containers for
packaging solutions
- Food &
beverage was the largest application segment, accounting for 55.9% of
global volume share in 2023. Growing demand for packaged foods, including
ready-to-eat meals, frozen meals, snack foods, and cake mixes, is expected
to force flexible packaging manufacturers to increase production capacity,
thus augmenting market for flexible packaging demand over the forecast
period
- Asia Pacific
recorded a higher market share in 2023 owing to factors such as rising
population, rising income levels, and changing lifestyles are expected to
drive consumption of the packaged food cosmetics, and pharmaceutical products
resulting in increased demand for flexible packaging solutions
- Several key
companies are collaborating to strengthen their market positions in the
flexible packaging industry. For instance, in June 2023, Coveris acquired
Poland-based D.K. LAMIN, a manufacturer of flexible packaging laminated
films and converted products. With an emphasis on value-added medical
packaging, home and personal care food, and pet food, D.K. LAMIN's
experience and product offerings integrate with Coveris' existing product
portfolio, particularly complementing its pet food growth goal
Flexible Packaging Market Report
Scope
|
Report Attribute |
Details |
|
Market
size value in 2024 |
USD
281.80 billion |
|
Revenue
forecast in 2030 |
USD
373.34 billion |
|
Growth
rate |
CAGR of
4.7% from 2024 to 2030 |
|
Base year
for estimation |
2023 |
|
Historical data |
2018 - 2022 |
|
Forecast period |
2024 - 2030 |
Requested For A Free Consultation @ https://www.grandviewresearch.com/request-free-consultation/2433/rfc
Flexible Packaging Market Segmentation
Grand
View Research has segmented the global flexible packaging market based on
material, product, application, and region:
Flexible Packaging Material Outlook (Revenue, USD
Billion, 2018 - 2030)
- Plastic
- Paper
- Metal
- Bioplastics
Flexible Packaging Product Outlook (Revenue, USD
Billion, 2018 - 2030)
- Pouches
- Retort
Pouch
- Refill
Pouch
- Bags
- Films &
Wraps
- Strech
& Shrink Labels
- Others
Flexible Packaging Application Outlook (Revenue, USD
Billion, 2018 - 2030)
- Food &
Beverage
- Pharmaceutical
- Cosmetics
- Others
Flexible Packaging Regional Outlook (Revenue, USD
Billion, 2018 - 2030)
- North
America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Thailand
- Indonesia
- Singapore
- Vietnam
- Myanmar
- Malaysia
- Central
& South America
- Brazil
- Argentina
- Middle East
& Africa
- South
Africa
- Saudi
Arabia
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
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Email: sales@grandviewresearch.com
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