Enjoy complimentary customisation on priority with our Enterprise License!
The Flexible Packaging Market size is estimated to grow at a CAGR of 4.82% between 2022 and 2027. The size of the market is forecast to increase by USD 54.42 billion. The growth of the market depends on several factors, including a rising focus on improving the shelf life of products, a shift from rigid packaging to flexible packaging, and the growing popularity of flexible bioplastic packaging.
This flexible packaging market research report extensively covers market segmentation by product (pouches, bags, films and wraps, and others), type (food and beverage, healthcare, and others), and geography (APAC, Europe, North America, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges.
To learn more about this report, Request Free Sample
Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The rising focus on improving the shelf life of products is notably driving market growth. Increase shelf-life helps the manufacturer in keeping the product saleable for a longer time reducing the wastage of the product. It also helps with damage-free export and transit of perishable goods, such as food, drinks, pharmaceuticals, and other items, to various locations. Flexible packaging works well to extend product shelf life.
In the case of flexible packaging, the extension of shelf life is achieved using MAP. The use of MAP allows the air in the package to be replaced with a different, fixed mixture of gases, while the use of flexible films prevents the gas from leaking out of the package. Some vendors of flexible packaging are focusing on offering new products that have an extended shelf life. The rise in the availability of new products with added features is likely to increase the demand for flexible packaging, thereby driving market growth during the forecast period.
Continuous development of new products is the key trend in the market. Product developments by some of the vendors will also encourage other vendors to come up with innovative products to remain competitive in the market. For instance, in January 2020, Coveris announced the launch of a sustainable and high-performance version of its cast polypropylene film.
The Coveris Print Layer (PP CPL) is designed for flexible packaging of a wide range of food, pet food, and non-food products. Such developments are expected to drive the growth of the global flexible packaging market during the forecast period.
The high cost involved in manufacturing flexible packaging is the major challenge in the market. The material used in flexible packaging manufacturing is mostly made of plastic, which includes PE, PP, and other types of plastic. Any fluctuation in the prices of these raw materials will have a direct impact on the cost of manufacturing flexible packaging. The cost of these many kinds of plastics has significantly increased. Vendors are thus compelled to increase prices in order to pass these expenses along to customers. Some producers of flexible packaging have raised the cost of their goods.
Furthermore, the prices of the printing inks and coatings used along with flexible packaging have also increased as a result of the rise in the price of oil, solvents, and key monomers for polyurethane (PU) resins. Additionally, the tight supply situation with regard to titanium dioxide white pigment also increases the price of printing inks. Therefore, the price rise of raw materials compels market vendors to experiment with cheaper substitutes for flexible packaging in order to gain a competitive edge in the market. This is expected to limit the growth of the global flexible packaging market during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Flexible Packaging Market Customer Landscape
Vendors 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.
ProAmpac Holdings Inc - The company offers flexible packaging solutions to various industries such as food and beverage, food service, retail, and other sectors. The company offers flexible packaging such as proactive sustainable packages, mono PE recyclable film, and fresh food-to-go packages.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors 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 vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth of the pouches segment will be significant during the forecast period. Pouches are widely used for the packaging of dry foods, candies, confectioneries, agriculture products, and liquids, as they have a strong visual impact on consumers. Pouches include various types, such as stand-up pouches, flat pouches, side-sealed pouches, center-sealed pouches, gusseted side pouches, vacuum pouches, spout pouches, and others. Vendors in the market in focus are coming up with new launches to maintain a strong foothold and cater to customer needs which, in turn, is anticipated to propel the growth of the market in focus during the forecast period.
Get a glance at the market contribution of various segments Request a PDF Sample
The pouches segment was valued at USD 74.77 billion in 2017 and continued to grow until 2021. The stand-up pouch packaging segment is becoming more popular than the other types of pouch packaging owing to its shelf appeal and because it offers an airtight closure and is extremely easy to pack. Stand-up pouches have multiple barrier layers of protection, improving the shelf life of various products. Such factors will facilitate segment growth during the forecast period.
For more insights on the market share of various regions Request PDF Sample now!
APAC is estimated to contribute 47% 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. The flexible packaging market is growing at a steady pace across APAC. Developing economies such as China and India are expected to emerge as major revenue contributors to the overall flexible packaging market in APAC. This is primarily because of the rapid expansion of end-user industries, such as e-commerce, fast-moving consumer goods (FMCG), and personal care. Countries such as China, India, and Japan have a rapidly growing e-commerce industry. Packaging is a very important aspect of the e-commerce industry, as products are prone to damage during transportation. Flexible packaging can use multi-layered films, which provide enhanced protection during transit. It can be used to reduce the costs related to damage, replacements, returns, waste, and shipping. This, in turn, will increase the demand for flexible packaging in the e-commerce industry.
In 2020, the outbreak of COVID-19 hampered the bakery products market, as various governments in APAC imposed nationwide lockdowns to contain the spread of the disease. However, in 2021, owing to the initiation of vaccination drives and partial lockdown norms, there has been a demand for bakery food and beverages as governments eased online delivery norms. As a result, the increasing demand for bakery products in APAC is expected to drive the growth of the regional bakery products market during the forecast period.
The flexible packaging market research 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.
|
Flexible Packaging Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
171 |
|
Base year |
2022 |
|
Historic period |
2017-2021 |
|
Forecast period |
2023-2027 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 4.82% |
|
Market growth 2023-2027 |
USD 54.42 billion |
|
Market structure |
Fragmented |
|
YoY growth 2022-2023(%) |
3.46 |
|
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
|
Performing market contribution |
APAC at 47% |
|
Key countries |
US, Canada, China, UK, and Germany |
|
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
Aluflexpack AG, Amcor Plc, Berry Global Inc., Bischof Klein SE and Co. KG, CCL Industries Inc., Clondalkin Group Holdings BV, Constantia Flexibles Group GmbH, Coveris Management GmbH, DS Smith Plc, DuPont de Nemours Inc., Glenroy Inc., Huhtamaki Oyj, Mondi plc, Parkside Flexibles Ltd., Printpack Inc., ProAmpac Holdings Inc, Reynolds Packaging, Sealed Air Corp., Sonoco Products Co., and UFlex Ltd. |
|
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. |
|
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 report to meet your requirements. Get in touch
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 Type
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
Certified ISO 9001 : 2015
We are ISO 9001:2015 recognized that ensures quality services and product delivery to our clients.
We are GDPR and CCPA compliant! Your transaction & personal information is protected from unauthorized use.
Get lifetime access to our
Technavio Insights
Customized Report as per your Business Needs
Let us help you make report more suited to your requirements.
Get the report (PDF) sent to your email within minutes.
