Flexible Industrial Packaging Market Size 2024-2028
The flexible industrial packaging market size is forecast to increase by USD 31.82 billion at a CAGR of 7.4% between 2023 and 2028.
- The market growth depends on multiple factors such as the rise in demand from end-user industries like food, pharmaceuticals, and personal care, which drives market expansion. As these sectors seek convenient, sustainable packaging, the demand for flexible packaging grows. Additionally, global economic growth plays a crucial role, as thriving economies spur consumer spending and industrial activity, thereby increasing the need for packaging materials. Furthermore, innovation in flexible industrial packaging solutions is paramount. The market is experiencing significant growth, driven by the increasing demand for eco-friendly packaging solutions for products like baby food. Advancements in materials, technology, and design cater to evolving consumer preferences, environmental concerns, and regulatory requirements, ensuring the market's continuous growth and adaptation to changing dynamics.
What will be the Size of the Flexible Industrial Packaging Market During the Forecast Period?
Request Free Sample
- The market is a significant segment in the global packaging industry. This market is characterized by the production and distribution of flexible packaging solutions for various industries. The use of Bioplastics and Foil in the production of these packages is becoming increasingly popular due to their sustainability and protective properties. Food is a major industry that utilizes flexible industrial packaging. The Food sector requires packaging that can preserve the freshness and quality of their products. Foil and Aluminum are commonly used materials for this purpose due to their excellent barrier properties. Another industry that relies heavily on flexible industrial packaging is the Solid industry.
- This sector requires packaging that can withstand rough handling and transport conditions. Packaging made from strong materials like PVC and PET is commonly used in this industry. The Procurement of these packages is a crucial aspect of the market. Companies are constantly seeking cost-effective and efficient ways to source their packaging needs. The use of Technology and Projective techniques has streamlined the procurement process, making it more accessible and convenient for businesses. The market is expected to grow significantly in the coming years due to the increasing demand for sustainable and protective packaging solutions.
How is this Flexible Industrial Packaging Industry segmented and which is the largest segment?
The 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.
- Type
- Pouches
- Wraps
- Rollstock
- Bags
- Application
- Chemical industry
- Construction industry
- Food and beverages industry
- Pharmaceutical industry
- Others
- Geography
- APAC
- North America
- Europe
- South America
- Middle East and Africa
By Type Insights
- The pouches segment is estimated to witness significant growth during the forecast period. The market experiences continuous growth, particularly in the segment of pouches. Paperboard and biodegradable films are key components of eco-friendly pouches, which have gained traction due to the increasing demand for environmentally friendly packaging solutions. The food & beverage segment, including snacks, coffee, and pet food, and the pharmaceutical segment, utilizing drugs and medical devices, are major industries using these pouches. Big corporations and industrial giants, such as Constantia Flexibles, are at the forefront of this trend, offering recyclable and sustainable packaging alternatives.
Get a glance at the market report of share of various segments Request Free Sample
The Pouches segment was valued at USD 21.21 billion in 2018 and showed a gradual increase during the forecast period.
Regional Analysis
- APAC is estimated to contribute 62% 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 packaging industry in APAC, particularly flexible industrial packaging, experiences significant growth due to increasing demand from sectors like personal care, pharmaceutical, and food & beverage. Key drivers include the use of materials such as plastic, paper, metals, and multi-layer high-barrier materials.
For more insights on the market size of various regions, Request Free Sample
Sustainability concerns lead to the adoption of recycling and carbon footprint reduction through the use of bioplastic and smart packaging. Industries like healthcare and FMCG prioritize protective properties in packaging types like pouches, stand-up pouches, and bag-in-box. Technologies like flexography and printing ensure product hygiene and shelf life extension. China is a major supplier, with FIBCs offering cost efficiency and reduced carbon emissions and energy consumption. Packaging types include film, pouches, bags, and stand-up pouches for various industries.
Market Dynamics
Our researchers analyzed the data with 2023 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.
What are the key market drivers leading to the rise in the adoption of Flexible Industrial Packaging Industry?
- Increase in demand for flexible industrial packaging from end-user industries is the key driver of the market. The global market for industrial packaging, specifically in the realm of 5G hardware, is witnessing a significant rise in Research and Development (R&D) activities. Notable companies are investing heavily in venture capital to support the development of innovative 5G technologies.
- In the realm of sustainable packaging, there is a growing trend towards the use of paperboard and biodegradable films. This shift towards environmentally friendly packaging is being driven by the Food & Beverage and Pharmaceutical segments, as well as by industrial giants and big corporations. Constantia Flexibles, for instance, is making strides in this area by focusing on recyclable products and sustainable solutions.
What are the market trends shaping the Flexible Industrial Packaging Industry?
- Growing demand for a biodegradable packaging alternative is the upcoming market trend. The market is gaining traction due to the increasing demand for eco-friendly solutions in various industries. Advanced technologies are being incorporated into this sector, leading to the development of smart and sustainable packaging solutions. Paperboard and biodegradable films are becoming popular choices for environmentally friendly packaging. Big corporations and industrial giants in the Food & Beverage and Pharmaceutical segments are increasingly adopting these solutions to meet consumer demands and regulatory requirements.
- Major players in this market are providing innovative and recyclable packaging solutions to meet the needs of diverse industries. Extensive machine-type communication (MTC) applications, such as smart inventory management and logistics optimization, are essential for the efficient operation of these industries and require long-reach connectivity to ensure seamless communication between components.
What challenges does the Flexible Industrial Packaging Industry face during its growth?
- Volatility in raw material prices of flexible industrial packaging is a key challenge affecting the industry growth. The market faces challenges, including high production costs, particularly for materials like paperboard and biodegradable films. The implementation of environmentally friendly packaging solutions, such as recyclable products, adds to the expenses for big corporations and industrial giants in this sector.
- Regulations, including those related to the use of biodegradable films and adherence to food safety standards in the Food & Beverage segment and pharmaceutical regulations in the Pharmaceutical segment, put additional pressure on market players. Major companies must balance these costs with customer demands for competitive pricing. Despite these challenges, the market continues to grow due to the increasing demand for sustainable packaging solutions.
Exclusive Customer Landscape
The packaging market forecasting 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 market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Key Companies & Market Insights
Companies are implementing various strategies, such as strategic alliances, market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
- 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.
- 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 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.
Research Analyst Overview
The market is a significant sector in the global packaging industry. This market encompasses a wide range of products, including films, bags, pouches, and laminates. The use of flexible industrial packaging is on the rise due to its numerous benefits, such as lightweight, cost-effectiveness, and ease of use. The Food and Beverage industry is a major consumer of flexible industrial packaging. The personal care industry, along with the medical and pharmaceutical sectors, is increasingly utilizing raw materials like polypropylene to reduce food wastage and extend food shelf life, while also addressing the growing issue of solid waste from both food and non-food products. Biodegradable packaging materials are gaining popularity as an eco-friendly alternative, helping to reduce environmental impact by breaking down naturally over time and minimizing waste in landfills. The use of this packaging type in this sector is essential for preserving the quality and freshness of food and beverages. Moreover, the increasing trend of online shopping and e-commerce has led to a rise in demand for flexible industrial packaging in the logistics and supply chain sector.
Furthermore, the Carbon Neutral and Recycling sectors are also driving the growth of the market. The use of biodegradable and compostable films and bags is gaining popularity due to their eco-friendly nature. Additionally, the recycling of used packaging materials is becoming increasingly important to reduce waste and minimize the environmental impact. The Smart Packaging segment is another emerging trend in the market. The use of sensors, RFID tags, and other advanced technologies in packaging is enabling better tracking, monitoring, and control of products throughout the supply chain. FMCG products are adopting advanced printing technology on various materials such as plastic, paper, metal, and bioplastics, with aluminum foil and stand-up pouch becoming popular packaging choices for enhanced product visibility and convenience.
|
Market Scope
|
|
Report Coverage
|
Details
|
|
Page number
|
189
|
|
Base year
|
2023
|
|
Historic period
|
2018-2022 |
|
Forecast period
|
2024-2028
|
|
Growth momentum & CAGR
|
Accelerate at a CAGR of 7.4%
|
|
Market growth 2024-2028
|
USD 31.82 billion
|
|
Market structure
|
Fragmented
|
|
YoY growth 2023-2024(%)
|
6.4
|
|
Key countries
|
US, China, Germany, India, and UK
|
|
Competitive landscape
|
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
|
Request Free Sample
What are the Key Data Covered in this Flexible Industrial Packaging Market Research and Growth Report?
- CAGR of the Flexible Industrial Packaging industry during the forecast period
- Detailed information on factors that will drive the market growth and forecasting between 2024 and 2028
- Precise estimation of the size of the market and its contribution of the industry in focus to the parent market
- Accurate predictions about upcoming growth and trends and changes in consumer behaviour
- Growth of the market across APAC, North America, Europe, South America, and Middle East and Africa
- Thorough analysis of the market's competitive landscape and detailed information about companies
- Comprehensive analysis of factors that will challenge the flexible industrial packaging market growth of industry companies
We can help! Our analysts can customize this flexible industrial packaging market research report to meet your requirements.
Get in touch
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
- Manufacturers and suppliers
- Channel partners
- Industry experts
- Strategic decision makers
Secondary sources
- Industry journals and periodicals
- Government data
- Financial reports of key industry players
- Historical data
- Press releases
DATA ANALYSIS
Data Synthesis
- Collation of data
- Estimation of key figures
- Analysis of derived insights
Data Validation
- Triangulation with data models
- Reference against proprietary databases
- Corroboration with industry experts
REPORT WRITING
Qualitative
- Market drivers
- Market challenges
- Market trends
- Five forces analysis
Quantitative
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
Get the report (PDF) sent to your email within minutes.
Complimentary full Excel data with your report purchase.
