Dublin, Aug. 16, 2024 (GLOBE NEWSWIRE) -- The "Global Flexible Plastic Packaging Market by Type (Bags, Films & Wraps, Pouches), Printing Technology (Digital Printing, Flexography, Rotogravure), Application - Forecast 2024-2030" report has been added to ResearchAndMarkets.com's offering.
The Flexible Plastic Packaging Market grew from USD 190.71 billion in 2023 to USD 199.46 billion in 2024. It is expected to continue growing at a CAGR of 5.01%, reaching USD 268.60 billion by 2030. 
By utilizing modern manufacturing processes such as extrusion, co-extrusion, lamination, and printing techniques, these packaging solutions offer enhanced product protection while reducing weight and costs. Key industries benefiting from flexible plastic packaging include food & beverages, pharmaceuticals, personal care & cosmetics, home care & toiletries, automotive, electronics, and agriculture
. The demand for flexible plastic packaging is rising for extended shelf life and product protection. Furthermore, increasing consumer preference for sustainable options has led to advancements in eco-friendly materials such as biodegradable plastics and recycling technologies. However, flexible plastic packaging has the potential to impact the flavor of food and beverages, which can pose production challenges.
Additionally, recycling and waste management considerations can drive up costs. Players are developing eco-friendly and recyclable packaging materials to overcome these negative impacts. Technological advancements in materials science have enabled manufacturers to produce thinner films with improved barrier properties.
Regional Insights
In the Americas, lightweight packaging solutions with extended shelf life are gaining traction due to their reduced transportation costs and contribution to a lower carbon footprint. Moreover, consumer preference and for convenience sustainable packaging solutions is propelling the flexible plastic packaging market in the region. In the EMEA region, government regulations supporting circular economy strategies have spurred demand for eco-friendly packaging materials in numerous EU countries. Technological innovations in biodegradable plastics have gained momentum in this area, fueling growth in the flexible packaging market.
Moreover, the MEA flexible plastic packaging market is poised for steady growth as more consumers embrace convenience and a rising focus on sustainability drives innovation. Rapidly expanding economies, including China, India, and Japan, are propelling growth opportunities within the flexible plastics industry in the Asia Pacific region. Factors such as growing urban populations, rising disposable income levels, and a burgeoning e-commerce sector contribute to increasing demand for convenient packaging solutions.
Recent Developments
TC Transcontinental Packaging Makes Major Investment to Accelerate the Commercialization of Recyclable Flexible Packaging
TC Transcontinental Packaging invested USD 60 million in cutting-edge mono-material recyclable flexible plastic packaging solutions. This investment aimed to address sustainability challenges in current offerings and accelerate the commercialization of recyclable film solutions for demanding applications while maintaining fill speed and performance.
Joint Pilot Testing Launches for Horizontal Recycling of Flexible Packaging Film
Toppan Inc., Mitsui Chemicals Tohcello, Inc., and Mitsui Chemicals, Inc. launched pilot testing for the horizontal recycling of printed BOPP film back into new flexible packaging film in the context of flexible plastic packaging. This initiative aims to establish technologies and operational infrastructure for the horizontal recycling of flexible packaging materials. The three companies aim to leverage the network expansion in the flexible packaging industry to promote the horizontal recycling of flexible packaging film. This effort stressed the importance of sustainability and contributes to reducing waste in the packaging industry.
INEOS Launches Recyclable Flexible Packaging Film Made from Recycled Plastic Waste
INEOS AG launched its Recycl-IN resins, an innovative and environmentally friendly flexible packaging solution for the plastic industry. This product is a rigid, ultra-thin, and recyclable film, with over 50% of its material derived from recycled plastic. The development of this groundbreaking product has been made possible through the collaboration between INEOS and Hosokawa Alpine AG, leveraging INEOS' extensive expertise in polymer technology and the advanced machine direction orientation (MDO) technology from Hosokawa Alpine.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 197 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value (USD) in 2024 | $199.46 Billion |
| Forecasted Market Value (USD) by 2030 | $268.6 Billion |
| Compound Annual Growth Rate | 5.0% |
| Regions Covered | Global |
Market Dynamics
Market Segmentation Analysis
- Type: Consumer preferences for sustainability bags
- Printing Technology: Growing printing technology enables high-quality graphics, variable data printing, and faster turnaround times
- Application: Increasing use of flexible plastic packaging in food and beverage industry
Market Drivers
- Growing demand for extended shelf life and product protection
- Consumer inclination towards attractive, useful, and cost-effective packaging materials
- Rapidly expansion of Commerce sector globally
Market Restraints
- Concerns about plastic affecting the flavor of food & beverages
Market Opportunities
- Increasing importance of packaging solutions with lesser energy consumption and GHG emissions
- Development of eco-friendly and recyclable packaging materials
Market Challenges
- Issues related to recycling and waste management
Industry Insights
- Market Disruption Analysis
- Porter's Five Forces Analysis
- Value Chain & Critical Path Analysis
- Pricing Analysis
- Technology Analysis
- Patent Analysis
- Trade Analysis
- Regulatory Framework Analysis
Key Company Profiles
- A.B. Polypacks Pvt. Ltd.
- Allied Flexible Products
- Amcor Ltd.
- Berry Global Group, Inc.
- Bischof + Klein SE & Co. KG
- CCL Industries Inc.
- Constantia Flexibles
- Cosmo Films
- Coveris Management GmbH
- DS Smith PLC
- FlexPak Services LLC
- Huhtamaki Oyj
- Jinisha Industries
- Klockner Pentaplast of America, Inc.
- Mccormick Corporation
- Mondi Group
- Paxxus, Inc.
- Printpack Inc.
- ProAmpac LLC
- Safepack Industries Limited
- Scientex Packaging
- Sealed Air Corporation
- SIG Group
- Sonoco Products Company
- Swiss Pac Pvt. Ltd.
- TCPL Packaging Ltd.
- Transcontinental Inc.
- Uflex Ltd.
- Windmoeller & Hoelscher Corp.
- Winpak Ltd.
Market Segmentation & Coverage
Type
- Bags
- Films & Wraps
- Pouches
- Rollstock
Printing Technology
- Digital Printing
- Flexography
- Rotogravure
Application
- Agriculture
- Electronics & Consumer Goods
- Food & Beverage
- Industrial
- Personal Care & Household Care
- Pharmaceutical & Medical
Region
Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
For more information about this report visit https://www.researchandmarkets.com/r/pic3q5
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