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Flexible Packaging Market By Type (Pouches, Rollstocks, Bags, Wraps And Others), By End-use (Food & Beverage, Personal Care, Pharmaceutical, Household Care, Industrial, and Others), And Region - Global Analysis Of Market Size, Share & Trends For 2019-2020 And Forecasts To 2031
[170+ Pages Research Report] Flexible Packaging Market to surpass USD 714.7 billion by 2031 from USD 195 billion in 2021 at a CAGR of 13.87% throughout the forecast period 2022-31
Flexible packaging is a means of packaging goods and products through the usage of non-rigid materials, which enable for more economical and customizable options. It is a comparatively new method in the packaging market and has grown popular owing to its high efficiency and cost-effective nature. This packaging method uses a variety of flexible materials, including foil, plastic, and paper, to create pouches, bags, and other flexible product containers. Flexible packages are mainly useful in industries that need adaptable packaging, such as the food and beverage, personal care, and pharmaceutical industries.
Global Flexible Packaging to surpass USD 714.7 billion by 2031 from USD 195 billion in 2021 at a CAGR of 13.87% in the coming years, i.e., 2021-31. The flexible plastic packaging market is predictable to witness significant growth in the future owing to its increased demand in end-use industries, such as food, beverage, cosmetic & personal care, and pharmaceutical. Development in modern retailing, high consumer income, and acceleration in e-commerce activities, particularly in the emerging nations, are expected to support the growth of the flexible plastic packaging market during the forecast years.
Global Flexible Packaging market is classified on the basis of Type into Pouches, Rollstocks, Bags, Wraps and others. Pouches segment is predictable to be the largest market for flexible plastic packaging. The dominant market position of the segment can be attributed to the surge in the demand for these type across several applications in food, beverage, pharmaceutical, and personal care & cosmetic industries. The rise in the demand for pouches can be credited to the rise in the demand for lightweight and convenient packaging solutions.
Based on End-use, global Flexible Packaging Market fragmented into Food & Beverage, Personal Care, Pharmaceutical, Household Care, Industrial, and Others. Food & Beverage segment dominates the market share globally. Growth in demand for snack and convenience foods in small or single serving shares, increased expenditure on bakery and cereal bars, ready to cook meals and coffee or hot chocolate sticks and pouches, dehydrated and instant food (soup, gravy & sauce packets and food mixes), snack foods & nuts, spice foods, chocolates & sweets, ice-cream novelties, and others. This will certainly impact the growth of the flexible packaging market.
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Due to busy routines, the demand for convenient products has augmented, thus leading to a rise in demand for flexible packs. Flexible plastic packaging requires fewer resources and energy for packaging; henceforth, flexible packs are accessible at low costs. Flexible plastic packaging decreases product waste and increases product shelf-life. This type of packaging can be done in the least packing possible, thereby dropping product warehousing and shipping expenses, while keeping or enhancing product protection.
Dynamic industry deviations, such as the introduction of new controlling initiatives, have encouraged manufacturers to grow new packaging options. Rising concerns regarding the use of bio-degradable plastics for flexible packaging and its influence on the environment have also driven manufacturers to grow sustainable packaging options that are safe and secure. In order to decrease the cost pressure and continue the integrity of product packages, producers are considering sustainable packaging services that require fewer materials and energy to manufacture a package, decrease transportation expenses, and provide extended shelf-life to the product.
Recycling of plastic packaging waste is a process that needs state-of-the-art infrastructural facilities. It is a time-consuming procedure that needs personnel expertise. Nevertheless, some parts of the world lack these facilities for recycling. As most recycling services are out-of-date, they are unable to handle changes in waste streams. For instance, even though the amount of paper waste has declined, and plastic waste has increased, the existing machinery is ill-equipped to handle such changes in the trends of packaging waste.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Global Flexible Packaging market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Asia Pacific dominates the Flexible Packaging market. Components such as enhancing global economy, increasing working population, growing domestic demand for ready-to-eat & convenience food products are anticipated to fuel the market for flexible plastic packaging. The market for flexible plastic packaging in APAC is growing in the food, beverage, pharmaceutical, and personal care & cosmetics industries owing to the functional properties offered by flexible plastic packaging, such as safety, cost-effectiveness, strength, lightweight, environmental-friendliness, and handling convenience.
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REPORT ATTRIBUTE |
DETAILS |
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Market size value in 2021 |
USD 195 billion |
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Revenue forecast in 2031 |
USD 714.7 billion |
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Growth Rate |
CAGR of 13.87% from 2021 to 2031 |
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Base year for estimation |
2020 |
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Quantitative units |
Revenue in USD million and CAGR from 2021 to 2030 |
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Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Segments covered |
Type, End-use and Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
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Key companies profiled |
Sealed Air Corporation (US), Amcor (Australia), Berry Global Inc. (US), Mondi (South Africa), Sonoco (US), Huhtamaki (Finland), Coveris (Austria), Transcontinental Inc. (Canada), and Clondalkin Group (The Netherlands) and Other Prominent Players . |
Flexible Packaging market size was estimated at USD 195 billion in 2021 and is expected to reach USD 714.7 billion in 2031.
Flexible packaging is a means of packaging goods and products through the usage of non-rigid materials, which enable for more economical and customizable options.
Pouches and Food & Beverage segment accounted for the largest Flexible Packaging market share.
Key players: Sealed Air Corporation (US), Amcor (Australia), Berry Global Inc. (US), Mondi (South Africa), Sonoco (US), are the key players in the Flexible Packaging market.
The flexible plastic packaging market is predictable to witness significant growth in the future owing to its increased demand in end-use industries, such as food, beverage, cosmetic & personal care, and pharmaceutical.
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