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The flexible plastic packaging market size is valued to increase by USD 43.9 billion, at a CAGR of 4.6% from 2023 to 2028. Rising focus on improving the shelf life of products will drive the flexible plastic packaging market.
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In the dynamic world of flexible packaging, key advancements include enhanced impact resistance and improved material compatibility through the utilization of Ethylene Vinyl Acetate (EVA) and Modified Atmosphere Packaging (MAP). These innovations yield significant business outcomes, such as a 30% increase in product protection during transportation and a 20% extension of shelf life. Furthermore, the integration of smart packaging technologies, like sensors and active components, offers a 40% reduction in packaging waste by enabling real-time monitoring and optimized inventory management. Sustainable packaging solutions, such as those made from recycled content, align with food packaging regulations and contribute to a greener business image. Advanced manufacturing techniques, including thermoforming, injection molding, and film extrusion, ensure material efficiency and high-barrier properties. The lamination process and coextrusion layers further bolster the barrier properties, while maintaining seal strength and oxygen transmission rate within acceptable limits. Effective packaging material selection, design testing, and leak testing methods ensure product safety and compliance.
The increasing priority placed on extending product shelf life serves as the primary market catalyst.
companies continue to invest in their offerings and develop new products, setting the trend for the upcoming market. This professional approach to business ensures innovation and growth.
The high cost associated with manufacturing flexible plastic packaging represents a significant challenge that impedes industry growth.
The flexible plastic packaging industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The pouches segment is estimated to witness significant growth during the forecast period.
Flexible plastic packaging continues to evolve, with innovations such as resealable pouches gaining traction in the market. Pouches, including stand-up, flat, side-sealed, and vacuum varieties, are widely used for various applications, from dry foods and candies to agriculture products and liquids. Stand-up pouches, in particular, are increasingly popular for household products due to their eye-catching graphics and consumer convenience. Key features of flexible plastic packaging include impact resistance, ethylene vinyl acetate, modified atmosphere packaging, and high-barrier films. Material properties like flexural modulus, tensile strength, and material compatibility are crucial for product protection.
Sustainable packaging solutions, such as recycled content and smart packaging, are also gaining importance. Techniques like thermoforming, injection molding, and lamination are used in the production process. Packaging material selection and design testing are essential for ensuring seal strength, oxygen transmission rate, and compliance with food packaging regulations.
The Pouches segment was valued at USD 62.30 billion in 2018 and showed a gradual increase during the forecast period.
APAC is estimated to contribute 43% to the growth of the global market during the forecast period.Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The market in APAC is experiencing robust growth, driven by the expanding end-user industries, particularly e-commerce, FMCG, and personal care. Countries like China, India, and Japan, with their rapidly growing e-commerce sectors, are poised to significantly contribute to the market's revenue. Flexible plastic packaging plays a crucial role in this industry due to its protective capabilities, as products are susceptible to damage during transportation. By utilizing multi-layered films, flexible plastic packaging offers enhanced protection, thereby reducing costs related to damage, replacements, returns, waste, and shipping.
According to estimates, the market in APAC is expected to grow at an impressive rate, with China and India accounting for a substantial market share. The adoption of this packaging solution is not only cost-effective but also ensures compliance with various regulations regarding product safety and sustainability.
Customer Landscape of Flexible Plastic Packaging Industry
Companies are implementing various strategies, such as strategic alliances, flexible plastic packaging market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.
Amcor Plc - Flexible packaging solutions cater to various industries, including personal care, healthcare, home care, pet care, and beverages, providing versatile protection and preservation benefits. These innovative packaging types enhance product appeal and functionality.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Dive into Technavio’s robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Flexible Plastic Packaging Market insights. See full methodology.
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Market Scope |
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Report Coverage |
Details |
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Page number |
183 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.6% |
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Market growth 2024-2028 |
USD 43.9 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
4.2 |
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Key countries |
US, Canada, Germany, UK, Italy, France, China, India, Japan, Brazil, Egypt, UAE, Oman, Argentina, and KSA |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
"Leverage Technavio's unparalleled research methodology and expert analysis for accurate, actionable market intelligence."
The market is experiencing significant growth, driven by the demand for high-performance, sustainable, and cost-effective packaging solutions. When it comes to material selection criteria for flexible packaging, key considerations include high-barrier properties for extended shelf life, sustainability, and recyclability. Sustainable flexible packaging materials, such as bio-based polymers, are increasingly popular due to their reduced carbon footprint and compatibility with circular economy principles. Advanced flexible packaging printing techniques and automated production lines enable improved seal strength and design for recyclability, ensuring regulatory compliance and reducing waste in the supply chain. Recycled content in flexible packaging films is another trend, with up to 30% recycled content now common in some applications. Testing methods for flexible packaging barrier properties and material compatibility are essential to ensure product protection and operational efficiency. Regulations for food-grade flexible packaging materials continue to evolve, requiring ongoing innovation in seal strength, leakage prevention, and weight optimization techniques. Improving the printability of flexible packaging through enhancement initiatives is a key focus for brands and converters, with cost savings of up to 10% achievable through improved design principles and production processes. Flexible packaging sustainability initiatives, such as renewable energy usage and closed-loop recycling systems, are also gaining traction in the market. In conclusion, the market is dynamic and innovative, with a focus on high-performance, sustainable, and cost-effective solutions. By addressing material selection criteria, improving barrier properties, and optimizing production processes, businesses can stay competitive and meet evolving consumer demands.
What is the expected growth of the Flexible Plastic Packaging Market between 2024 and 2028?
USD 43.9 billion, at a CAGR of 4.6%
What segmentation does the market report cover?
The report is segmented by Product (Pouches, Bags, Films and wraps, and Others), End-user (Food and beverage, Healthcare, and Others), Geography (APAC, Europe, North America, South America, and Middle East and Africa), Material (Polyethylene (PE), Polypropylene (PP), Polyethylene Terephthalate (PET), Polyvinyl Chloride (PVC), and Other Materials), Printing Technology (Flexography, Rotogravure, and Digital Printing), and Type (Consumer Packaging and Industrial Packaging)
Which regions are analyzed in the report?
APAC, Europe, North America, South America, and Middle East and Africa
What are the key growth drivers and market challenges?
Rising focus on improving the shelf life of products, High cost involved in manufacturing flexible plastic packaging
Who are the major players in the Flexible Plastic Packaging Market?
Amcor Plc, AR Packaging Group AB, Bemis Manufacturing Co., Berry Global Inc., Bischof Klein SE and Co. KG, CCL Industries Inc., Clondalkin Group Holdings BV, Constantia Flexibles Group GmbH, Coveris Management GmbH, Crownpack Pty Ltd., DS Smith Plc, FlexPak Services LLC, Huhtamaki Oyj, Mondi Plc, ProAmpac Holdings Inc., Richdale Plastics, Sealed Air Corp., Sigma Plastics Group, Sonoco Products Co., and Transcontinental Inc.
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by End-user
8 Market Segmentation by Material
9 Market Segmentation by Printing Technology
10 Market Segmentation by Type
11 Customer Landscape
12 Geographic Landscape
13 Drivers, Challenges, and Opportunity/Restraints
14 Competitive Landscape
15 Competitive Analysis
16 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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