Flexible Packaging Market by Product, End-user, and Geography - Forecast and Analysis 2020-2024

The flexible packaging market size has the potential to grow by USD 59.22 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.

This report provides a detailed analysis of the market by product (pouches, bags, films and wraps, and others), end-user (food and beverage, healthcare, and others), and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape. It offers information on several market vendors, including Amcor Plc, Berry Global Group Inc., CCL Industries Inc., DS Smith Plc, Huhtamäki Oyj, Mondi Group, ProAmpac Intermediate Inc., Reynolds Group Holdings Ltd., Sonoco Products Co., and UFlex Ltd.

Market Overview

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Market Competitive Analysis

The flexible packaging market is fragmented. Market vendors are involved in price wars to expand their customer base, which further intensifies the competition. Amcor Plc, Berry Global Group Inc., and CCL Industries Inc. are some of the major market participants. Although the growing popularity of flexible bioplastic packaging will offer immense growth opportunities, increasing focus on reducing the use of plastic packaging will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this flexible packaging market forecast report provides a detailed analysis of the market leaders. It offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and provides information on the products offered by various companies. Moreover, this flexible packaging market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

• Amcor Plc
• Berry Global Group, Inc.
• CCL Industries Inc.
• DS Smith Plc
• Huhtamäki Oyj
• Mondi Group
• ProAmpac Intermediate Inc.
• Reynolds Group Holdings Ltd.
• Sonoco Products Co.
• UFlex Ltd.

Flexible Packaging Market: Segmentation by Geography

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APAC was the largest flexible packaging market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The rapid expansion of end-user industries, such as e-commerce, fast-moving consumer goods (FMCG), and personal care, will significantly drive flexible packaging market growth in this region over the forecast period.

47% of the market’s growth will originate from APAC during the forecast period. China and India are the key markets for flexible packaging in APAC. Market growth in this region will be faster than the growth of the market in other regions.

Flexible Packaging Market: Segmentation by Product

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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. Some vendors in the market are focusing on offering innovative pouches owing to the rise in consumer demand. The extension of the shelf life of the food products is made possible by using modified atmosphere packaging (MAP). Such new developments are likely to increase the options available to end-users. This, in turn, will fuel the use of pouches in the global flexible packaging market during the forecast period.

Market growth in this segment will be faster than the growth of the market in the bags, films and wraps, and other segments. This report provides an accurate prediction of the contribution of all the segments to the growth of the flexible packaging market size.

Flexible Packaging Market: Key Drivers and Trends

The growth of the processed-food industry is one of the major factors that will drive flexible packaging market growth. The increasing demand for convenience foods and fast food is leading to a rise in the need for lightweight packaging. Also, changing consumer behavior and growing processed-food industry is triggering the demand for easy and flexible packaging material. Flexible packaging provides convenience to the consumer while ensuring product safety. Innovative paperboard packaging solutions are developed by manufacturers to cater to the consumer’s demand for convenient, easy-to-use, and lightweight packaging.

There is also a growing preference for bioplastics over conventional plastics as they are biodegradable. The increasing hazards caused by conventional plastics are further influencing the adoption of bioplastic materials. In addition to the growth of the processed-food industry, key flexible packaging market trends, such as the increasing demand for bioplastics, will drive market growth at a CAGR of almost 6% during the forecast period.

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Flexible Packaging Market: Key Highlights of the Report for 2020-2024

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will drive flexible packaging market growth during the next five years
• Precise estimation of the flexible packaging market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the flexible packaging industry across APAC, Europe, MEA, North America, and South America
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of flexible packaging market vendors

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