Flexible Packaging Market Size
Flexible Packaging Market was valued at USD 300.6 billion in 2023 and is poised to observe more than 5.2% CAGR from 2024 to 2032.
Changing millennial eating patterns and increasing consumption of ready-to-eat and packed meals will affect the market for flexible packaging solutions. New kinds of packaged food products are being produced thanks to developments in the food processing industry. Long shelf life local and exotic products are changing consumer food-buying behavior and increasing market expansion in North America. It is expected that the introduction of several technologies and continuous research activities for food storage would increase the product penetration in the food and beverage industry.
| Report Attribute | Details |
|---|---|
| Base Year | 2023 |
| Flexible Packaging Market Size in 2023 | USD 300.6 Billion |
| Forecast Period | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR | 5.2% |
| 2032 Value Projection | USD 474.1 Billion |
| Historical Data for | 2018 to 2023 |
| No. of Pages | 300 |
| Tables, Charts & Figures | 290 |
| Segments covered | Material, Product, Application |
| Growth Drivers |
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| Pitfalls & Challenges |
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Strict rules on polymer use and recyclability can slow down the expansion of the flexible packaging industry worldwide. Among many different sectors, including consumer goods, packaging and coatings, medical equipment, electrical and electronics, building materials, and agriculture, polymers find great application. Authorities and governing bodies have imposed strict guidelines on the use of polymers applied for several purposes, therefore affecting innovation in the flexible packaging industry.
Usage of polyethylene in food packaging to foster product demand
By 2032, flexible packaging market revenue from the polyethylene material category is expected to reach USD 156 billion. The increasing popularity as a replacement for glass and metals is responsible for this development. Antimicrobial food and drink packaging uses polymers such polyvinyl chloride, polypropylene, polyelene, and polyelene terephthalate. Because of their barrier properties, which protect the freshness, extend the shelf life, and prevent contamination of the goods, polymers are useful in food and fizzy drink packaging.
Flexible Packaging Market Analysis
By 2032, the market for pillow pouches is expected to reach USD 175 billion. The category of pillow pouches is expected to expand given the increasing need for packaged goods and the reasonably priced pouches. Their malleability and lightweight character help them to become more and more popular in the beverage industry for packaging alcohol. Adoption of these bags should be motivated by the need for simple packaging options. Growing tendency of food consumption on the go is projected to support market expansion.
Rising consumption of processed and packed foods and beverages worldwide is expected to drive flexible packaging market from food & beverage application to record over 5.4% CAGR from 2023 to 2032. The F&B industry is adopting flexible and handy packaging solutions under influence of the growing trend of online meal ordering and home delivery. Rising corporate spending on the creation of functional and nutritional beverages should match consumer purchase patterns.
Thanks to the launch of new goods, especially in the frozen food sector all throughout Asia Pacific, flexible packaging industry is expected to reach USD 222 billion by 2032. Rising customer desire for longer shelf life convenience goods is driving need for flexible packaging. According to a study, with 1.1 billion millennials globally, Asia boasts the biggest count of millennials anywhere. A strong rise in the younger population will help to meet the demand for easy-to-eat, on-the-go packaging solutions all around the next years.
Flexible Packaging Market Share
- Coveris Holdings S.A
- Bemis
- Ampac Holdings, LLC
- ExxonMobil Chemical
- Amcor Limited
- Constantia Flexibles Group GmbH
- Sonoco Products Company
- Mondi Group
- Sealed Air Corporation
- Cellpack Packaging
- Berry Plastic Group
- Südpack Verpackungen
- Clondalkin Group Holdings B.V
- Wipak Group
- Hon Bischof + Klein International
- ACTEGA GmbH
- Loba Goglio Group
- Plater AR Packaging
- Schur Flexibles
- Flair Flexible Packaging Solution
are some of the key leaders in the global flexible packaging market.
As the market continues to grow, manufacturing companies are working on developments like mergers, collaborations, new product launches, and other strategic initiatives for industry expansion. For instance, in February 2022, ProAmpac bought Belle-Pak Packaging, a producer of flexible packaging materials. This tactic aids ProAmpac in developing its position in Canada and extending its reach in end markets for high-growth e-commerce, healthcare, and logistics.
This flexible packaging market research report includes in-depth coverage of the industry with estimates & forecasts in terms of volume in kilo tons and revenue in USD million from 2018 to 2032 for the following segments
By Material
- Polyester
- Polyethylene
- Polystyrene
- Polypropylene
- Paper
- Aluminum
- Cellulosic
By Product
- Pillow pouches
- Stand-up Pouches
- Four side seal pouches
- Others
By Application
- Food & beverage
- Personal care
- Healthcare
- Industrial
- Others
The above information is provided on a regional and country basis for the following
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Russia
- Poland
- Netherlands
- Asia Pacific
- China
- India
- Japan
- Australia
- Indonesia
- Malaysia
- South Korea
- Thailand
- Latin America
- Brazil
- Argentina
- Mexico
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
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