The global flexible packaging market is projected to grow at a CAGR of around 4% during the forecast period. The key factors that enhance the global flexible packaging industry size include the shift of consumers as well as big brands towards the adoption of flexible packaging products. Food & beverages, healthcare, household & personal care among various other end-user industries are significantly shifting from rigid packaging such as glass and metals to the flexible packaging, which is the primary factor that drives the growth of the market over the forecast period.
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Consumers are more aware of the health and wellness issues, which have led to the demand for packaged healthy food items such as fruits, vegetables, organic items, dietary supplements, and many more. Along with this, rising environmental concern among the users also led the users to prefer eco-friendly and reusable packaging items. Besides, there is an increased demand for the single-serve packs, carry-away packs, microwaveable packaging, easy-open packs, longer shelf lives, and resealable packaging. Ready to eat food items, eating away from home or on-the-go consumption has been in trend, which demands easy portability, less weight, and resealability. Thus, this is likely to encourage flexible packaging products. This in turn will enhance the global flexible packaging market over the forecast period.
Flexible packaging is a sustainable packaging solution. The mounting pressure of the consumers on the brand owners to curb down the use of single-use plastics or environmental harming products is encouraging the brands to shift towards the flexible packaging products, in order to reduce weight, reduce material usage without impairing pack performance, use more recycled and recyclable polymers in packaging, and others.
Moreover, such trends of shifting preferences led the manufacturers to manufacture more and more flexible packaging products such as pouches. Pouches particularly stand-up pouches are among the most common type of products in use. These offer greater versatility and improved sealing techniques. Thus, the development of such innovative and advanced products is further boosting the growth of the global flexible packaging market over the forecast period.
Further, 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. are some of the key players contributing towards the growth of the flexible packaging market. New product launches & developments, partnerships, agreements, and acquisitions are some of the key strategies adopted by the players to sustain in the competitive market.
Global Flexible Packaging Market – Segmentation
By Material Type
By Application
Global Flexible Packaging Market – Segmentation by Region
North America
Europe
Asia-Pacific
Rest of the World