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The flexible industrial packaging market size is estimated to grow at a CAGR of 5.49% between 2022 and 2027. The market size is forecast to increase by USD 21,329.14 million.
The growth of the market depends on several factors such as the increase in demand for flexible industrial packaging from end-user industries, global economic growth, and the innovation in flexible industrial packaging solutions.
This flexible industrial packaging market report extensively covers market segmentation by type (pouches, wraps, roll stock, and bags), application (chemical industry, construction industry, food and beverages industry, pharmaceutical industry, and others), and geography (APAC, North America, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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One of the key factors driving the flexible industrial packaging market growth is global economic growth. There is an increase in industrialization and construction activities at a significant rate in developing countries including Brazil, China, India, Mexico, and South Africa. One of the main factors which is fuelling the growth of the market is the increase in demand for construction, chemical, and food and beverage products.
Moreover, there is an increasing adoption of flexible industrial packaging solutions for efficient mobilization, transportation, and storage of products for driving economic, ecological, and societal progress. For instance, In 2021, the global merchandise trade grew by approximately 4%. The increase in growth of the e merchandise trade fuels the growth of industrial activities which in turn is positively impacting the market. Hence, such factors are expected to drive the market growth during the forecast period.
A key factor shaping the flexible industrial packaging market growth is the growing demand for biodegradable packaging alternatives. The main challenge faced by the market players in the global flexible industrial packaging market is the growing concerns regarding the environment. However, there is an emerging trend of sustainable, flexible packaging solutions which is positively impacting the market. FIBCs and sacks are essential, flexible industrial packaging solutions extensively utilized for the storage and transportation of raw materials and goods.
Moreover, there is an increase in the advancement of technologies and R&D which has resulted in the development of several bio-degradable packaging solutions derived from natural sources. Some of the main bio-plastic raw materials developed include starch plant oil, polyhydroxyalkanoates, polylactic acid (PLA), and other cellulose material packaging products. Hence, such factors are expected to drive the market growth during the forecast period.
Volatility in raw material prices of flexible industrial packaging is one of the key challenges hindering the flexible industrial packaging market growth. The main raw material which is used in the manufacturing of flexible industrial packaging products is plastics. There is significant volatility in the price of plastics due to the demand and supply gap as well as fluctuations in crude oil cost. Fluctuations in global crude oil prices will significantly impact the prices of polymer resins that are used to manufacture flexible IBCs and sacks.
Moreover, such price volatility in polymer resin prices will result in uncertainty in the profit margins of flexible industrial products. Therefore, it has become essential for market players to either increase the price of their products or reduce their profit margins in order to balance the negative impact of the increase in crude oil prices. Hence, such factors are hindering the market growth during the forecast period.
The pouches segment is estimated to witness significant growth during the forecast period. There is a significant adoption of the pouches segment in the global flexible industrial packaging market due to their adaptability, convenience, and sustainability. There is an extensive use of this segment across various industries due to their lightweightedness, and cost-effectiveness. For example, due to their shelf-stable construction, stand-up pouches are utilized in food packaging for products including snacks, coffee, and pet food.
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The pouches segment was the largest segment and was valued at USD 20,375.59 million in 2017. There is a growing popularity for flexible pouches in the pharmaceutical industry for packaging drugs and medical devices. Additionally, spouted pouches have gained traction due to their ease of use in packing liquids including baby food, and energy drinks. Furthermore, there is an increasing demand for eco-friendly pouches which are manufactured using recyclable materials. Hence, such factors are fuelling the growth of this segment which in turn will drive the market growth during the forecast period.
Based on application, the segment is classified into the chemical industry, construction industry, food and beverages industry, pharmaceutical industry, and others. There is an increasing adoption of bulk containers to encase chemicals while storing and transporting them. However, it is essential for these containers to comply with strict regulations in terms of the degree of caution required to handle chemical substances. Additionally, the decrease in crude oil prices has resulted in an increase in exploration and manufacturing activities. Furthermore, there is an extensive demand for flexible industrial packaging solutions to store and transport the substance since crude oil products are used as feedstocks in various industries, such as the plastic industry. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
APAC is estimated to contribute 46% 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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One of the main factors that are significantly contributing to the growth of the global flexible industrial packaging market in APAC is the strengthening of the regional economic condition. In addition, the increase in demand for such packaging solutions from China, India, South Korea, Singapore, Australia, Japan, and others is significantly fuelling the market growth in the region. Furthermore, the increasing adoption of FIBC across several emerging economies in APAC is fuelled by its cost-efficiency. For example, FIBCs require 1/20th of shipping and storage volume as compared to the Gaylords bulk rigid containers. Furthermore, an increase in foreign direct investment (FDI) in APAC is fuelling industrial activities in the region. Hence, such factors are expected to drive the market growth in APAC during the forecast period.
In 2020, during the COVID-19 pandemic, the growth of the global flexible industrial packaging market witnessed a significant slowdown due to disruptions in supply chain and industrial activities especially in food and beverage and pharmaceutical industries. However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which led to the resumption of industrial activities. Such factors are expected to drive the market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Amcor Plc: The company offers flexible industrial packaging products such as Metal free laminates, vento and formpack blister system.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Aluflexpack AG, Anglo American plc, Berry Global Inc., Bulk Lift International LLC, Clifton Packaging Group Ltd., ePac Holdings LLC, Eskay Flexible Packaging Industries Pvt Ltd., Flexibles Industrial Packages Co., Global Pak Inc., Greif Inc., Industrial Packaging supply Inc., International Paper Co., Kiliper Corp., LC Packaging International BV, SAFEPACK Inc., Sealed Air Corp., SIG Group AG, Sonoco Products Co., and Surepak Ltd.
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 market 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.
The market research report encompasses the entire market adoption cycle, ranging from the initial innovator phase to the subsequent laggard stage. It emphasizes adoption rates across various regions, determined by penetration levels. Additionally, the report outlines essential purchasing factors and factors influencing price sensitivity. This aids companies in assessing and formulating effective growth strategies.
Global Flexible Industrial Packaging Market Customer Landscape
The flexible industrial packaging market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Flexible Industrial Packaging Market Scope |
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Report Coverage |
Details |
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Page number |
181 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.49% |
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Market growth 2023-2027 |
USD 21,329.14 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
5.87 |
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Regional analysis |
APAC, North America, Europe, South America, and the Middle East and Africa |
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Performing market contribution |
APAC at 46% |
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Key countries |
US, China, India, Germany, and the UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Aluflexpack AG, Amcor Plc, Anglo American plc, Berry Global Inc., Bulk Lift International LLC, Clifton Packaging Group Ltd., ePac Holdings LLC, Eskay Flexible Packaging Industries Pvt Ltd., Flexibles Industrial Packages Co., Global Pak Inc., Greif Inc., Industrial Packaging supply Inc., International Paper Co., Kiliper Corp., LC Packaging International BV, SAFEPACK Inc., Sealed Air Corp., SIG Group AG, Sonoco Products Co., and Surepak Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 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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