Redding, California, May 03, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled ‘Flexible Packaging Market by Material Type (Plastics {Polyethylene, Polypropylene}, Paper, Bioplastics), Design Type (Rollstocks, Blisters), End-use Industry (Food & Beverages, Pharmaceuticals & Healthcare, Home & Personal Care) - Global Forecast to 2030,’ the flexible packaging market is expected to reach $348.92 billion by 2030, at a CAGR of 3.9% from 2023 to 2030.
Flexible packaging is a type of product packaging that uses non-rigid packaging materials, including plastic and paper, to create a wide range of pliable product containers. This packaging style requires less material than traditional rigid packaging methods and affords companies increased customization options. Flexible packages are particularly useful in industries that require versatile packaging, such as the food & beverage, personal care, and pharmaceutical industries. Additionally, the rapid growth of the E-commerce industry is expected to boost the demand for flexible packaging.
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The major factors driving the growth of the flexible packaging market include the increasing demand for fast-moving consumer goods (FMCG), growing E-commerce activities and food delivery services, rising consumer focus on convenience and sustainability, rising food losses and waste, and the need for downsizing packaging material usage.
Furthermore, the shifting focus toward renewable & innovative packaging solutions and the rising demand from emerging markets are expected to provide significant growth opportunities for players operating in this market. However, stringent government regulations and increasing raw material prices hinder the growth of this market
The flexible packaging market is segmented by material type, design type, end-use industry, and geography.
Based on material type, the flexible packaging market is segmented into plastics, paper, aluminum foil, bioplastics, recycled cellulose fiber, and other material types. In 2023, the plastics segment is expected to account for the largest share of the flexible packaging market. The large market share of this segment is due to the increasing usage of biodegradable plastics for flexible packaging and the growing adoption of different types of plastics, such as polypropylene, polyethylene terephthalate, polyvinyl chloride, and polystyrene, which are sustainable, lightweight, and easy to reuse and recycle. Additionally, they are highly economical and can be used by all industries, regardless of their scale of operations.
Based on design type, the flexible packaging market is segmented into pouches, bags & trays, rollstocks, squeezable bottles, blisters, wraps, and other design types. In 2023, the pouches segment is expected to account for the largest share of the flexible packaging market. The large market share of this segment is attributed to the rising demand for pouches across various applications in food & beverages, pharmaceuticals & healthcare, and home & personal care industries. In addition, the rising demand for lightweight and convenient packaging solutions increases the demand for pouches.
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Based on end-use industry, the flexible packaging market is segmented into food & beverages, pharmaceuticals & healthcare, home & personal care, tobacco products, industrial & chemical products, oil & lubricants, and other end-use industries. In 2023, the food & beverages segment is expected to account for the largest share of the flexible packaging market. The food & beverages segment is also expected to witness significant growth during the forecast period. The rapid growth of this segment is mainly driven by the rising number of automated food manufacturing plants, which demand modern packaging systems for barrier-free packaging of finished products.
Based on geography, in 2023, Asia-Pacific is expected to account for the largest share of the flexible packaging market. Asia-Pacific’s major market share is attributed to several factors, including the region's large population base, rising per capita income, increasing consumption of packaged food, growing organized retail and e-commerce sectors, and the presence of numerous manufacturing industries. These factors are expected to maintain China and India's dominant position in the market in the coming years.
The key players operating in the flexible packaging market are Constantia Flexibles Group GmbH (Austria), Sonoco Products Company (U.S.), Berry Global Group, Inc. (U.S.), Mondi Group (U.K.), Reynolds Group Ltd. (New Zealand), Clondalkin Group Holdings B.V. (Netherlands), Amcor plc (U.K.), Huhtamäki Oyj (Finland), Coveris Management GmbH (Austria), and Sealed Air Corporation (U.S.).
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Scope of the Report:
Flexible Packaging Market - by Material Type
- Plastics
- Polyethylene (PE)
- Polypropylene (PP)
- Polyethylene Terephthalate (PET)
- Polyvinyl Chloride (PVC)
- Polystyrene (PS)
- Other Plastics Types
- Paper
- Aluminum Foil
- Bioplastics
- Recycled Cellulose Fiber
- Other Material Types
Flexible Packaging Market - by Design Type
- Pouches
- Standup Pouches
- Flat Pouches
- Spouted Pouches
- Bags & Trays
- Gusseted Bags
- Wicketed Bags
- Rollstocks
- Squeezable Bottles
- Blisters
- Wraps
- Other Design Types
Flexible Packaging Market - by End-use Industry
- Food & Beverages
- Pharmaceuticals & Healthcare
- Home & Personal Care
- Tobacco Products
- Industrial & Chemical Products
- Oil & Lubricants
- Other End-use Industries
Flexible Packaging Market - by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe (RoE)
- Asia-Pacific (APAC)
- China
- India
- Australia
- Japan
- South Korea
- Rest of Asia-Pacific (RoAPAC)
- Latin America (LATAM)
- Brazil
- Mexico
- Argentina
- Rest of Latin America (RoLATAM)
- Middle East & Africa (MEA)
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