Flexible Plastic Packaging Market Size
Rising to reach $170 billion in 2022, the flexible plastic packaging business has been explosive. Not slowing down anytime soon either! Up to 2032, experts estimate it will continue to rise steadily at roughly 4%. From what is this expansion motivated? Technology, my buddy. Companies are developing all kinds of fresh approaches to improve flexible packaging. We are discussing better printing methods that enable handling of a larger spectrum of materials and crisper images. Furthermore simplifying the process of producing reasonably priced, environmentally friendly packaging is digital printing, flexible substrates, and green inks. Not to add, faster and more efficient manufacturing is resulting from automated printing techniques. Not only is the container itself changing, though. Customers are become more exacting and need packaging that fits their evolving needs. Advanced features like augmented reality and smart packaging help here as well. These state-of-the-art printing methods enable the addition of sophisticated extras that meet customer tastes. For instance, Pakka joined Brawny Bear in 2023 to introduce India's first flexible, compostable packaging. Setting a new benchmark for sustainability and creativity, this creative product transforms the $70 billion packaging sector in the nation.
To get key market trends
Production and use of printing methods on flexible plastic materials for packaging uses define the flexible plastic packaging sector. To satisfy several industry needs, this market combines ideas in printing techniques, inks, and substrates. Mostly in industries such food & beverage, pharmaceuticals, and consumer products, it meets the demand for aesthetically pleasing, useful, and sustainable packaging solutions.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Flexible Plastic Packaging Market Size in 2022 | USD 170 Billion |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 4% |
| 2032 Value Projection | USD 250 Billion |
| Historical Data for | 2018 – 2022 |
| No. of Pages | 220 |
| Tables, Charts & Figures | 286 |
| Segments covered | Type, printing technology, application, & region |
| Growth Drivers |
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| Pitfalls & Challenges |
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What are the growth opportunities in this market?
Changing raw material prices provide a problem for the worldwide market since they immediately affect manufacturing costs. When the cost of required components, including inks and substrates, changes, producers find it challenging to maintain their printed package items priced consistently. When there is volatility, companies may find it difficult to effectively budget and plan since unpredictable expenditure may affect profit margins. Raw material price fluctuation limits the expansion and competitiveness of the flexible plastic packaging industry, thereby aggravating the financial pressure.
COVID-19 Impact
The market for flexible plastic packaging was greatly changed by the COVID-19 epidemic. Temporarily lower demand resulted from supply chain interruptions, lower consumer expenditure, and changing priorities. Lockdowns and limits changed distribution and manufacturing. Still, the sector showed resiliency as the market for packaged goods remained constant. More knowledge of cleanliness helped some sectors develop. Driven by the comeback of consumer confidence, e-commerce expansion, and the demand for flexible packaging in sectors, the industry rebuilt following the epidemic.
Flexible Plastic Packaging Market Trends
Shorter turnaround times, variable data printing, and more customizing made possible by developments in digital printing are helping the flexible plastic packaging market to evolve. Highlights of the present sustainability trends are eco-friendly inks, recyclable substrates, and minimal environmental effects. The usage of smart package elements, such AR and QR codes, is getting more frequent as a means of enhancing consumer contact and offering important product information. For flexible plastic packaging in the printing industry, these developments point to a dramatic change toward efficiency, ecologically friendly methods, and better customer involvement.
Growing popularity of flexible packaging forms is what is driving demand for tailored printing technologies on the market. Printing allows businesses to provide consumers unique experiences and personalize goods. Techniques like holographic printing satisfy security needs by means of anti-counterfeiting. Cooperation among manufacturers, printers, and technology businesses generates innovative printing solutions that inspire ideas. These trends show an industry adjusting to consumer needs for packaging, brand uniqueness, security issues, and cooperative breakthroughs in flexible plastic package printing.
Flexible Plastic Packaging Market Analysis
Learn more about the key segments shaping this market
Based on type, the market is segmented into pouches, rollstock, bags, films & wraps, and others. The rollstock segment dominated the global market with a share of over 30% in 2022.
- Cost effectiveness is where rollstock printing shines; it lets flexible plastic rolls be continuously printed, so saving on materials and manufacturing. Its fast, constant operation improves efficiency and shortens turn-around times.
- For packaging styles including pouches and bags as well as for a variety of industry demands, rollstock is flexible. It easily allows branding and customizing, so enabling producers to create aesthetically pleasing and unique product packaging.
Learn more about the key segments shaping this market
Based on printing technology, the market is divided into flexography, rotogravure, digital printing, and others. The digital printing segment is anticipated to register a CAGR of over 4.5% through 2032.
- Digital printing enables quicker production cycles compared to traditional methods, meeting the demand for shorter lead times in flexible packaging. It allows for personalized and variable data printing, accommodating the trend of customized & targeted packaging.
- The ability to easily customize designs and adapt them to different packaging formats is fueling the demand for unique & visually appealing packaging. Digital printing eliminates the need for extensive setup processes and printing plates, contributing to increased efficiency and cost savings.
Looking for region specific data?
With a share of more than 30% in 2022 Asia Pacific dominated the market. The Asia Pacific flexible plastic packaging market is predicted to be driven by growing industrialization, rising disposable incomes, and increased demand for packaged goods as well as by Growing e-commerce sector and changing retail environment in the area will raise demand for aesthetically appealing and customized packaging. The Asia Pacific sector is predicted to have notable increase in response to the shifting market dynamics because of the existence of diverse sectors and growing customer base.
Flexible Plastic Packaging Market Share
The players operating in the market focus on implementing different growth strategies to strengthen their offerings and expand the market reach. These strategies involve new product development & launches, partnerships & collaborations, mergers & acquisitions, and customer retention. The market players also heavily invest in R&D to introduce innovative and technologically-advanced solutions in the global market. The major players operating in the flexible plastic packaging industry are mentioned below
- Amcor Limited
- American Packaging Corporation
- AR Packaging Group AB
- Bemis Company, Inc.
- Berry Global Group Inc.
- Bischof + Klein SE & Co. KG
- CCL Industries Inc.
Flexible Plastic Packaging Industry News
- In August 2023, Amcor acquired Phoenix Flexibles, expanding Amcor’s capacity in the high-growth India market. Amcor's capacity to meet the high demand and generate significant returns for shareholders will be instantly increased with the inclusion of Phoenix Flexibles' well-capitalized and well-located production facility. The acquisition provided cutting-edge film technology that permitted Amcor to expand its product portfolio in high-value areas and brought skills that enable local manufacturing of environment-friendly packaging solutions.
- In January 2023, Amcor Limited acquired MDK, a Chinese company that provides packaging for medical devices. This acquisition strengthened Amcor's leadership in the Asia Pacific medical packaging segment, especially serving China, India, and Southeast Asia markets.
The flexible plastic packaging market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD billion) from 2018 to 2032 for the following segments
Click here to Buy Section of this Report
Market, By Type
- Pouches
- Rollstock
- Bags
- Films & Wraps
- Others
Market, By Printing Technology
- Flexography
- Rotogravure
- Digital Printing
- Others
Market, By Application
- Food & Beverage
- Pharmaceuticals & Healthcare
- Personal Care & Cosmetics
- Others
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- ANZ
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- MEA
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
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