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2022
Flexible Packaging Market

Flexible Packaging Market

by Material (Paperboard, Plastic, Aluminum Foil and PET Films), Packaging Type (stand-up Pouch, Films, and Bag-in-Box), and End-Use Industry (Food & Beverage, Personal Care, Pharmaceutical, Household Care, Industrial, and Others): Global Opportunity Analysis and Industry Forecast, 2022-2031

Report Code: A01698
Pages: 230
Jul 2022 | 17359 Views
Author(s) : Bhagyashri Patil, Devashree Patwardhan , Eswara Prasad
Tables: 414
Charts: 79
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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Flexible Packaging Market Statistics – 2031

The global flexible packaging market was valued at $68.5 billion in 2021, and is projected to reach $102.8 billion by 2031, growing at a CAGR of 4.2% from 2021 to 2031.

Statement for COVID-19 banner: Amid the Covid-19 outbreak, the flexible packaging market has witnessed disruptions in its supply chain and manufacturing capabilities due to overreliance on China, which had significant impact on the market.

The finest characteristics of plastics and films are combined in flexible packaging. Such versatile packaging supplies functional solution that requires minimal production costs. From consumer goods to electronics and cosmetics to medical supplies, flexible packaging is an important component in the supply chain of many industries and products. Flexible packaging adds value and marketability of both food and non-food products by combining the finest qualities of plastic, film, paper, and aluminum foil to provide a wide range of protective properties with the least amount of material.

Flexible-Packaging-Market.jpg

Flexible plastic packaging uses a variety of plastic materials for the packaging of wide range of products. The type of material used in packaging depends upon the application and type of product to be packaged. Flexible plastic packaging typically uses plastic materials including polyethylene, polypropylene, polystyrene, and polyvinyl chloride. Flexible packaging is the most efficient and cost-effective approach for preserving, distributing, and packaging food products, beverages, pharmaceuticals, and a variety of consumables.

Increase in demand for snack and convenience food in small or single size portions fuels the growth of the flexible packaging market. The packaging industry is moving toward flexible packaging, owing to its multi-fold energy and environmental advantages. Moreover, Growing concerns regarding the use of bio-degradable plastics for flexible packaging and its impact on the environment have also driven manufacturers to develop sustainable packaging options that are safe and secure. In order to reduce the cost pressure and maintain the integrity of product packages, manufacturers are considering sustainable packaging solutions that require fewer materials and energy to manufacture a package, reduce transportation expenses, and offer extended shelf-life to the product. Flexible packaging prevents moisture to enter in the packages and prevents corrosion. These advantages of flexible packaging will drive the market growth during the forecast period. However, recycling of plastic packaging waste is a complex process that requires state-of-the-art infrastructural facilities. It is a time-consuming process that needs personnel expertise. This may hamper the growth of the flexible packaging market.

The global flexible packaging market is segmented on the basis of material, packaging type, end-use industry, and region. On the basis of material, the market is segmented into paperboard, plastic, aluminum foil, PET films, and others. Aluminum foil segment further segmented into dried mixed, condiments, bakery and confectionery, meat, dairy, milk powder, and others. PET film segment further segmented into metalized PET film and inorganic coated PET film. Metalized PET film segment is fragmented into meat, vegetables and fruits, carbonated beverages, shelf stable food, dried mixed, and others. Inorganic coated PET film segment is further fragmented into bakery and confectionery, condiments, frozen food, aerated beverages, and others. By packaging type, it is divided into stand-up pouch, films, bag-in-box, and others. On the basis of end-use industry, it is segmented into food & beverages, personal care, pharmaceutical, household care, industrial, & others.  Food & beverages segment further segmented into juices and aerated beverages, bakery and confectionery, dried mixed, condiment, meat, frozen food, spices, and others. On the basis of region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

Major players operating in the global flexible packaging market include Berry Global Inc., Amcor Plc, FlexPak Services LLC, Mondi Group, Sealed Air Corporation, Constantia Flexibles, Transcontinental Inc., Coveris Holding SA, Huhtamaki, and Sonoco.

Flexible Packaging Market, by Material

The plastic segment accounted for the largest share of the flexible packaging market in 2021. The global flexible packaging market is majorly driven by increase in usage of bio-degradable plastics for flexible packaging.

Flexible Packaging Market
By Material

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Paperboard in Flexible Packaging is projected as the most lucrative segment.

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Flexible Packaging Market, by Packaging Type

The films segment accounted for the largest share in 2021 owing to high demand films packaging from beverages industry, which will help drive the growth of the market.

Flexible Packaging Market
By Packaging Type

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Films packaging type is projected as the most lucrative segment.

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Flexible Packaging Market, by End-Use Industry

The food & beverage segment accounted for the largest share of the flexible packaging market in 2021. Growth in demand for snack and convenience foods in small or single serving portions, increased spending on bakery and cereal bars, ready to cook meals and coffee or hot chocolate sticks and pouches, dehydrated and instant food snack foods & nuts, spice foods, chocolates & sweets, ice-cream novelties, and others. This will positively impact the growth of the flexible packaging market.

Flexible Packaging Market
By End-use Industry

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Food & Beverage End-use Industry is projected as the most lucrative segment.

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Flexible Packaging Market, by Region

Asia-Pacific is home to the world's largest working population.  The need for packaging has been increasing as a result of growth in population, rise in income levels, urbanization, change in lifestyles, increase in internet penetration, and surge in development of the economy.

Flexible Packaging Market
By Region

2031
Asia-pacific 
North America
Europe
Lamea

Asia-Pacific is projected as the most lucrative market.

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Key Benefits For Stakeholders

  • The report provides in-depth analysis of the global flexible packaging market along with the current trends and future estimations.
  • This report highlights the key drivers, opportunities, and restraints of the market along with the impact analysis during the forecast period.
  • Porter’s five forces analysis helps analyze the potential of the buyers & suppliers and the competitive scenario of the global flexible packaging market for strategy building.
  • A comprehensive market analysis covers the factors that drive and restrain the global flexible packaging market growth.
  • The qualitative data about market dynamics, trends, and developments is provided in the report.

Impact Of Covid-19 On The Global Flexible Packaging Market

  • COVID-19 has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020.
  • Some of the major economies were suffering from the COVID-19 crises include Germany, France, Italy, Spain, the UK, and Norway.
  • Amid the Covid-19 outbreak, the industry has witnessed disruptions in its supply chain and manufacturing capabilities due to overreliance on China. The manufacturers will be more inclined towards accessing their supply-chain vulnerabilities and reduce dependence on China and focus more on domestic suppliers alongside considering other dependable options.
  • During and after the lockdown, a large number of people switched to online food shopping, a trend that will surely continue. E-commerce currently being one of the most widely preferred channel around the globe is witness significant growth in demand of packaging solution. With more physical retailers shifting to online sales channels is further fuelling the demand for e-commerce packaging solutions such as corrugated boxes, flexible packaging wraps and others.
  • In many countries, the economy has dropped due to the halt of several industries, especially transport and supply chain. Demand for the product has been hindered as there is no development due to the lockdown.
  • The COVID-19 epidemic has impacted negatively on the manufacturing and industrial industries due to a scarcity of resources in various parts of the world. The industry's top players are concerned about the market's prospects and are rethinking their strategies to meet the challenge.
  • The companies are incorporating various techniques to increase production volume and are attempting to develop innovative solutions at an affordable price that can meet customer requirements at a lower cost and support the overall breakthrough required for increased flexible packaging penetration sustainability.
  • Covid-19 pandemic has had a mixed impact on the packaging industry with increase in demand experienced by selected end-markets such as food and healthcare. While sustainable packaging is likely to remain the primary focus of packaging companies in long term, the current focus has shifted to plastics.
  • During and after Covid-19 pandemic, packaging manufacturers are witnessing higher demand from sectors such as food & beverages, pharmaceuticals and other essential commodities such as hand sanitizers, soaps, and disinfectants since these categories are currently considered essentials and consumers stocking up these items.

Flexible Packaging Market Report Highlights

Aspects Details
By Material
  • Paperboard
  • Plastic
  • Aluminum Foil
    • Food & Beverage
    • Dried Mixed
    • Condiments
    • Baker and Confectionery
    • Meat
    • Dairy
    • Milk Powder
    • Others
  • PET Film
    • Metalized PET Film
    • Food & Beverages
    • Meat
    • Vegetables and Fruits
    • Carbonated Beverages
    • Shelf Stable Food
    • Dried Mixed
    • Others
  • Inorganic Coated PET Film
    • Food & Beverage
  • Bakery and Confectionery
  • Condiments
  • Frozen Food
  • Aerated Beverages
  • Others
By Packaging type
  • Stand-up Pouch
  • Films
  • Bag-in-Box
By End-use industry
  • Food & Beverage
    • Juices and Aerated Beverages
    • Bakery and Confectionery
    • Dried Mixed
    • Condiments
    • Meat
    • Frozen Food
    • Spices
    • Others
  • Personal Care
  • Pharmaceutical
  • Household Care
  • Industrial
  • Others
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, France, Spain, Italy, UK, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, South Africa, Saudi Arabia, Rest of LAMEA)
KEY MARKET PLAYERS
  • Berry Global Inc.
  • Amcor Plc
  • FlexPak Services LLC
  • Mondi Group
  • Sealed Air Corporation
  • Constantia Flexibles
  • Transcontinental Inc.
  • Coveris Holding SA
  • Huhtamaki
  • Sonoco
 

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The market for flexible packaging is fueled by increase in consumer’s preference toward convenience products. The flexible packaging market will drive during the forecast period owing to changing consumer preferences due to their busy lifestyles and smaller household units which demand products that are easy to open, store, use, carry, dispose, and that cater to their on-the-go lifestyles. Furthermore, the changes in consumer lifestyle and consumption of processed products habit will boost the demand for flexible packaging in wide range of end user industries including food & beverages, pharmaceuticals, and home & personal care. In addition, high penetration of automated food manufacturing plants demands the use of flexible packaging systems for barrier free packaging of finished products, thereby fueling the market growth during the forecast period. On the other hand, the blister type of packaging materials contains aluminum sheets and plastic that frequently degrades into microplastic that cannot be recycled. Thus, the growth of the flexible packaging market is expected to limit due to the disposability issue of certain materials such as plastics and aluminum foils.

The growth drivers, restraints, and opportunities are explained in the report to better understand the market dynamics. This report further highlights the key areas of investment. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and role of each stakeholder. The report features the strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of the key players to increase their market share and sustain intense competition in the industry.

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FREQUENTLY ASKED QUESTIONS?

A. The increase in demand of instant food, fast food and other edible products is increasing the demand of flexible packaging market globally.

A. The flexible packaging market is valued to be $68.5 billion in 2021 and is projected to rise to $102.8 billion by 2031 growing at a CAGR of 4.2% between 2022 and 2031.

A. The major players active in the global flexible packaging market includes Berry Global Inc., Amcor Plc, FlexPak Services LLC, Mondi Group, Sealed Air Corporation, Constantia Flexibles, Transcontinental Inc., Coveris Holding SA, Huhtamaki, and Sonoco.

A. The global flexible packaging market is segmented on the basis of material, packaging type, end-use industry, and region. On the basis of material, the market is segmented into paperboard, plastic, aluminum foil, PET films, and others. Aluminum foil segment further segmented into dried mixed, condiments, bakery and confectionery, meat, dairy, milk powder, and others. PET film segment further segmented into metalized PET film and inorganic coated PET film. Metalized PET film segment is fragmented into meat, vegetables and fruits, carbonated beverages, shelf stable food, dried mixed, and others. Inorganic coated PET film segment is further fragmented into bakery and confectionery, condiments, frozen food, aerated beverages, and others. By packaging type, it is divided into stand-up pouch, films, bag-in-box, and others. On the basis of end-use industry, it is segmented into food & beverages, personal care, pharmaceutical, household care, industrial, & others. Food & beverages segment further segmented into juices and aerated beverages, bakery and confectionery, dried mixed, condiment, meat, frozen food, spices, and others. On the basis of region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

A. Cost-effectiveness and increased product shelf-life, Downsizing packaging material usage, Rising demand from food & beverage end-use industry & increasing e-commerce sales are some of the factors driving the growth of the flexible packaging market globally.

A. Food and beverages industry is expected to drive the adoption of flexible packaging market during the forecast period.

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