The global flexible packaging market is projected to grow at a CAGR of around 4% during the forecast period. Flexible packaging refers to that packaging which can be refilled as well as can be changed into any shape. It is also considered as one of the key segments in the overall packaging industry. It also addresses the key trends as well as the issues faced in rigid packaging. The key factors that drive the growth of the global flexible packaging market include the advantages offered by it, such as, sustainability and cost-effectiveness. Introduction of various formats such as pouches, wraps, and blister packs further aids in the adoption of flexible packaging options. 

Moreover, flexible packaging offers ease and convenience to the customers in the fast-paced lifestyles. In addition, the enhanced printing technology that aids the manufacturers in achieving a strong brand presence further contributes to the market growth. Additionally, flexible packaging meets the safety and security goals for the product, besides, options such as re-sealable pouches are amongst the key product preference of the customers for both food & beverages as well as household packaging. Thus, all these factors altogether contribute significantly to the market growth over the forecast period.

Segmental Outlook

The global flexible packaging market is segmented into material type, application, and application. Based on the material type segment, the market is segmented into paper, aluminum foil, and plastic. Based on the application, the market is segmented into food & beverages, healthcare, household & personal care, and others. 

Global Flexible Packaging Market by Material Type, 2019 (%)

Plastic Segment Holds the Most Significant Market Share 

Amongst the material type segment of the market, the plastic segment is likely to hold the most significant share in the market. The segmental growth of the market is attributed to the increased use of plastic in almost every segment, ranging from food & beverages to healthcare to the consumer electronics segment. Plastic also possesses several properties, such as durability, strength, aroma retention, sealing & heating insulation, and moisture resistant. These properties of plastic make it ideal for food packaging and account under the trends of modified atmospheric packaging. Plastics can also be modified by co-polymerization and by adding various substances such as blowing agents, plasticizers, colorants, and many others. Thus, owing to all these, the plastic segment is likely to hold a significant share in the market. 

Regional Outlook

The global flexible packaging market is geographically segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North America region is estimated to grow significantly during the forecast period. The growth of the region is backed by several factors including the presence of the key players and rapid R&D activities conducted by them in order to contribute to the overall market growth. 

Further, the Asia-Pacific region is projected to hold a prominent share in the market owing to the several government initiatives regarding the waste management across economies such as China, India, and Japan. Whereas the European region is indulged in various R&D activities to curb down the use of non-biodegradable plastics and sing use plastics. As an alternative, countries in the region are supporting the use of bioplastics, which are projected to witness significant growth in the region. Owing to suitable policies and laws implemented by the government especially in the countries of Italy, France, and others, the flexible packaging market is likely to witness the growth. 

Global Flexible Packaging Market by Region, 2019 (%)

Market Players Outlook

Some of the prominent players operating in the global flexible packaging market include Amcor Plc, Berry Global Group Inc., Huhtamaki Group, Mondi Group, Sealed Air Corp., Clondalkin Group Holdings B.V., DS Smith Plc, Reynolds Group Holdings Ltd., and Sonoco Products Co. These are the key companies adopting several organic and inorganic growth strategies such as product launches & developments, partnerships, agreements, and acquisitions to strengthen their product portfolios and maintain a competitive position in the global flexible packaging market.

For instance, in February 2019, Sealed Air Corp. acquired MGM’s flexible packaging business. MGM is a privately held company headquartered in Manila, the Philippines. With this acquisition, Sealed Air planned to leverage MGM’s expertise for expanding its printing and lamination capabilities and better serve customers throughout the Asia-Pacific region.

The Report Covers

• Market value data analysis of 2019 and forecast to 2026.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global flexible packaging market. Based on the availability of data, information related to products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.