The “Flexible Packaging Market” 2023-2031 Research Report affords qualitative and quantitative insights into the principal drivers, constraints, opportunities, and challenges influencing world markets growth. The find out about offers complete statistical market records on the leading players, as nicely as income predictions. This market lookup additionally presents statistics on the income boom of numerous regional and country-level markets, as properly as the opposition panorama and unique organization analyses for the projected period. The Flexible Packaging Market Report covers potential improvement drivers as properly as the modern-day kingdom of market share, penetration of a number of kinds, technologies, applications, and areas thru 2031.
The global flexible packaging market size was US$ 161.3 billion in 2021. The global flexible packaging market is forecast to grow to US$ 228.5 billion by 2030 by growing at a compound annual growth rate (CAGR) of 4.8% during the forecast period from 2022 to 2030.
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Factors Influencing the Market
Hot drinks, beauty, home care, and personal care products require flexible packaging. The growing demand for these products will fuel the growth of the global flexible packaging market.
The food industry is witnessing a surging demand for sustainable packaging that assures transparency and food safety. Thus, it will benefit the flexible packaging market during the study period.
Flexible packaging products find their wide applications in the healthcare and personal care segment. The growing demand for novel drugs will drive the overall flexible packaging market forward. In addition, increasing demand for personal care products will accelerate the growth of the flexible packaging market globally.
The challenges associated with the recycling of flexible packaging products may limit the growth of the market. On the contrary, stringent regulations aiming to lower the use of plastics will offer lucrative growth opportunities for the flexible packaging market. For instance, the European Commission is planning to make use of recyclable and reusable plastic-based packaging. Thus, the rising focus of governments towards promoting sustainable solutions will fuel the growth of the global sustainable packaging market.
COVID-19 Impact Analysis
The food and Beverage segment holds a significant share in the flexible packaging industry. However, the wake of the COVID-19 pandemic caused supply chain disruptions because of the shutdown of factories. The demand for food items, beverages, and healthcare products surged during the pandemic. Thus, the global flexible packaging market witnessed significant growth in the healthcare and food and beverage sectors.
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Regional Analysis
Globally, the Asia-Pacific flexible packaging market is forecast to grow at the highest CAGR. It is owing to the rapid growth of end-use industries of flexible packaging, such as food and beverages and medical. Growing healthcare expenditure and rising demand for packed food products will drive this regional market forward. Furthermore, the growing demand for high-quality products with longer shelf life will offer ample growth opportunities for the flexible packaging market. Furthermore, growing initiatives to curb the use of plastics will be opportunistic for the Asia-Pacific flexible packaging market.
Competitors in the Market,Amcor, Berry Global Inc., Mondi, Sonoco, Sealed Air Corporation, Huhtamaki, Coveris, Transcontinental Inc, Clondalkin, Other Prominent Players
Market Segmentation
The global flexible packaging market segmentation focuses on Material, Product, Printing, Application, End-User, and Region.
By Material Outlook
- Flexible Plastic
- PE
- BOPP
- CPP
- BOPET
- PA
- PET
- PVC
- EVOH
- Others
- Flexible Paper
- Foil
By Product Outlook
- Bags
- Pouches
- Others
By Printing Outlook
- Flexographic
- Rotogravure
- Others
By Application Outlook
- Consumer Packaging
- Industrial Packaging
By End-User Outlook
- Bakery and Confectionery
- Meat, Poultry, and Seafood
- Dairy
- RTE
- Frozen Food
- Tea and Coffee
- Others
- Healthcare
- Personal Care
- Petfood
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By Regional Outlook
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
What are the key findings of the report?
?This report provides comprehensive information on factors expected to influence the market growth and market share in the future.
?The report offers the current state of the market and future prospects for various geographical regions.
?This report provides both qualitative and quantitative information about the competitive landscape of the market.
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