The global flexible plastic packaging market size is expected to reach USD 225.04 Billion in 2028 and register a revenue CAGR of 4.3% over the forecast period, according to a latest report by Reports and Data. Rising disposable income of consumers in developing countries is resulting in high demand for convenience products, including stand-up pouches, processed and pre-packaged foods, and flexible plastic films, which in turn, is expected to drive market revenue growth. Growing demand for flexible and convenient packaging solutions among food and beverage companies is also expected to drive market growth during the forecast period.
Food brands are increasingly adopting Flexible Packaging solutions for more types of Consumer Packaged Goods (CPG). Advantages offered by Flexible Packaging solutions are becoming more widely recognized across various industries which include cost savings and marketing adaptability. In countries such as the U.S., demand for flexible packaging is expected to rise 3.2% per year in 2021. The ability of Flexible Packaging solutions to offer a broad range of protective properties, while minimizing materials and costs is resulting in increasing demand across a wide range of end-use industries.
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Competitive Outlook:
This section of the report performs a thorough investigation into the intensely competitive landscape of the global Flexible Packaging Market, highlighting the leading manufacturers, strategic initiatives adopted by them, the existing growth prospects, market positions, and market shares held by each participant. The report further emphasizes the developmental strategies undertaken by these companies, including product innovation, new product launches, and technological upgradation. Moreover, the report studies the notable business events observed in this industry, such as mergers & acquisitions, joint ventures, partnerships, corporate deals, and brand promotions.
Key companies operating in the market and profiled in the report include:
- Berry Global, Inc
- Amcor plc
- Mondi plc
- Constantia Flexibles
- Sonoco Products Company
- Sealed Air Corporation
- Huhtamäki Oyj
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Some Key Highlights in the Report
- In April 2019, Amcor launched unique, recyclable, high-barrier flexible packaging that can reduce a pack’s carbon footprint by up to 64%. AmLite Ultra Recyclable launched by Amcor is its first packaging product made from the company’s revolutionary, more sustainable high-barrier polyolefin film. The new high barrier laminate can package a range of food, home and personal care, and pharmaceutical products, and also be recycled in existing polyolefin recycling streams. AmLite Ultra Recyclable is the latest addition to the successful AmLite product line of Amcor, which was created in 2015 to provide metal-free barrier packaging that significantly reduced the packaging’s carbon footprint.
- Polyethylene segment is expected to account for largest revenue share in the global Flexible Packaging market over the forecast period, owing to its enhanced durability and excellent rigidity. Polyethylene offers excellent rigidity in comparison to other forms of plastic and help in maintaining a firm protective structure, as well as exhibits excellent moisture resistant properties. Moreover, enhanced durability and resistance to external influences offered by polyethylene in order to ensure the content is well-preserved is boosting its application for the manufacturing of Flexible Packaging solutions.
- Stand-up pouches segment is expected to register significant revenue growth over the forecast period. Growing interest of consumers in efficiency and waste reduction is resulting in increasing popularity of stand-up pouches, which is one of the most convenient and flexible packaging solutions. Potential benefits of stand-up pouches include resealability, transparency, recyclability, durability, and the need for less material, which is resulting in its increasing demand.
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Segments Covered in the report
Material Outlook (Revenue, USD Billion; 2018-2028)
- Polyethylene
- Polypropylene
- Polyamine
- Polyvinyl chloride
- Polystyrene
- Others
Type Outlook (Revenue, USD Billion; 2018-2028)
- Stand-up Pouches
- Flat Pouches
- Rollstocks
- Others
Application Outlook (Revenue, USD Billion; 2018-2028)
- Food & Beverage
- Healthcare
- Personal Care
- Others
Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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