New York (US), May 15, 2023 (GLOBE NEWSWIRE) -- Flexible Plastic Packaging Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Flexible Plastic Packaging Market Information by Type, Printing Technology, Application, and Region - Forecast till 2030”, Flexible Plastic Packaging Market Size was valued at USD 200.13 Billion in 2021. The Flexible Plastic Packaging market industry is projected to grow from USD 227.96 Billion in 2022 to USD 450.65 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 8.89% during the forecast period (2022 - 2030).
Market Synopsis
Flexible plastic packaging is a type of packaging that is made from lightweight and flexible materials such as plastic films and sheets. These materials can be easily molded into different shapes and sizes, making them versatile and suitable for a wide range of applications. Some of the common types of flexible plastic packaging include bags, pouches, shrink wraps, and films. The food and beverage industry is one of the primary users of flexible plastic packaging. Flexible plastic packaging is used to package a wide range of food products such as snacks, frozen foods, and ready-to-eat meals. This type of packaging helps to preserve the freshness and quality of food products, while also providing an attractive and convenient packaging solution for consumers.
Flexible plastic packaging is highly versatile and can be used for a variety of applications. In the food and beverage industry, it is commonly used for packaging snacks, dairy products, frozen foods, and beverages. It is also widely used for packaging pharmaceuticals, personal care products, and household products such as detergents and cleaning agents.
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Market Competitive Landscape:
The affluent companies in the Flexible Plastic Packaging industry include
- Amcor Limited
- Constantia Flexibles Group
- Mondi Group
- Sealed Air Corporation
- Sonoco Products Company
- Coveris Holdings
- Huhtamaki Group
- Bemis Company Inc
- BerryTranscontinential Inc
- Ampac Holdings
- Among others
Report Scope:
| Report Attribute | Details |
| Market Size 2030 | USD 450.65 Billion |
| Compound Annual Growth Rate (CAGR) | 8.89% (2022-2030) |
| Base Year | 2021 |
| Market Forecast Period | 2022-2030 |
| Historical Data | 2018 & 2020 |
| Forecast Units | Value (USD billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Dynamics | Increased consumption of processed foods & beverages Innovation in flexible packaging |
Browse In-depth Market Research Report ( Pages 110 ) Flexible Plastic Packaging
https://www.marketresearchfuture.com/reports/flexible-plastic-packaging-market-4845
January 2021
Berry Global Group Inc announced its plans to acquire the flexible packaging division of a Brazilian company, named Companhia Industrial de Resinas Sintéticas (Cires). The acquisition will expand Berry Global's presence in Latin America and strengthen its position in the global flexible packaging market.
Market USP Covered:
Market Drivers:
The flexible plastic packaging market has witnessed significant growth in recent years due to the increasing demand for convenient and sustainable packaging solutions across various industries. One of the key driving factors for this market is the consumer demand for packaging that is easy to use and dispose of, while also being eco-friendly. Consumers are increasingly becoming more aware of the environmental impact of their choices, and as a result, they are opting for packaging materials that are recyclable, biodegradable, and environmentally sustainable. Flexible plastic packaging provides a viable solution to meet these demands, as it is lightweight, easy to handle, and can be recycled.
Another factor driving the demand for flexible plastic packaging is the growing popularity of e-commerce and home delivery services. As more consumers opt for online purchases and home deliveries, there is a need for packaging materials that can protect products during transit and reduce waste. Flexible plastic packaging is an ideal solution in this regard, as it provides the necessary protection and is easy to dispose of.
Market Restraints:
The market growth is limited by factors such as the increasing environmental concerns related to plastic waste and the strict regulations on the use of plastic packaging in certain regions. Additionally, the fluctuation in raw material prices is also a key restraint for market growth.
COVID 19 Analysis
The COVID-19 pandemic has had a mixed impact on the flexible plastic packaging market. On one hand, there has been an increased demand for packaging solutions due to the rise in e-commerce and home delivery services. On the other hand, the disruptions in the global supply chain and the restrictions on movement and trade have led to challenges in the production and distribution of flexible plastic packaging. In the post-COVID scenario, the market is expected to recover steadily, driven by the increasing demand for eco-friendly and sustainable packaging solutions.
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Market Segmentation
By Type
The Type in the market includes Stand-Up Pouches, Flat Pouches, Gusseted, Bags, and Others.
By Printing Technology
The Printing Technology in the market includes Flexography, Digital Printing, and Others.
By Application
The Application in the market includes Food & Beverages, Pharmaceuticals, Personal Care, and others.
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Regional Insights
In North America and Europe, the demand for sustainable packaging solutions has been increasing significantly due to the rising awareness of environmental issues. Consumers are becoming more conscious of their environmental impact and are choosing products that are eco-friendly and sustainable. This trend is expected to continue, and it is anticipated that there will be steady growth in these regions for the flexible plastic packaging market. Asia Pacific is expected to witness the highest growth rate in the flexible plastic packaging market due to several reasons. Firstly, there is an increasing demand for packaged food and beverages in the region, primarily driven by the rising population and growing urbanization. This trend is expected to continue in the coming years, leading to an increase in the demand for flexible plastic packaging.
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