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The Flexible Packaging Market size was valued at USD 273.02 billion in 2023 and is expected to Reach USD 418.12 billion by 2032 and grow at a CAGR of 4.85% over the forecast period of 2024-2032.
The pouch and flexible bag segment has gained momentum due to the growing demand for small, lightweight packaging, which may encourage the entry of new market players. Given the reduced need for storage, low shipping costs, and growing consumer preference, flexible packaging has a lot of potential.
Flexible packaging is more environmentally friendly because it requires less resources, energy, and water to produce and takes up less room in landfills after disposal. Additionally, the demand for flexible packaging is anticipated to increase during the forecast period as more application industries choose sustainable packaging solutions in response to regulatory pressures.
Due to the existence of significant players operating in the application industry, the US is a highly significant market for flexible packaging. A further factor that is anticipated to support the growth of the flexible packaging market in the nation is the high market penetration of ready-to-eat food brought on by busy lifestyles and a sizable working-class workforce.
Food products like smoothies, snack food, dairy, and other items are frequently packaged in flexible packaging. The demand for flexible packaging has been positively impacted by changes in consumer lifestyles and advancements in food processing techniques, which have driven the packaged food market globally.
Products with flexible packaging, like pouches, require significantly less material to manufacture and have lower overall transportation costs, which boosts the profit margins of businesses in the application industry. As a result, more flexible packaging formats are being adopted, which helps the market grow.
KEY DRIVERS:
The market is expanding due to flexible packaging's ability to protect products and extend shelf life.
Excellent barrier properties are provided by flexible packaging materials, shielding the packaged contents from elements like oxygen, moisture, light, and other outside influences that could reduce the quality of the final product. This lessens food waste, maintains product freshness, and increases the shelf life of perishable goods. Flexible packaging is a popular option in sectors like organic food and beverage, pharmaceuticals, and personal care due to its superior protection and preservation capabilities.
Increasing demand from food and beverage industry is adding to the growth of market.
RESTRAIN:
Rising raw material prices for flexible packaging manufacturers
Flexible packaging requires raw materials like polymers, resins, and additives, all of which have rising prices. This has an immediate impact on the cost structure as a whole. Manufacturers may struggle to maintain profitability and market competitiveness as they deal with rising costs for raw materials.
OPPORTUNITY:
The flexible packaging market has an opportunity due to the rising demand for eco-friendly packaging options.
Environmentally friendly packaging options that encourage recycling, and reduce carbon footprint are widely accepted by consumers and businesses. Manufacturers of flexible packaging can benefit from this trend by creating novel sustainable materials, enhancing recyclability, and highlighting the flexible packaging's eco-friendly advantages.
Emerging markets present significant growth opportunities for the flexible packaging industry
CHALLENGES:
Price fluctuations in flexible packaging raw materials
The availability and cost of materials can be affected by changes in the supply and demand of raw materials, geopolitical factors, and market speculation. To minimize the risk of raw material shortages or significant price fluctuations, manufacturers must carefully monitor and manage their supply chains.
The packaging industry is under pressure from shortages of raw materials, supply constraints, and high energy costs.
The price of energy increased in response to the Russian invasion of Ukraine, particularly in nations that imported a lot of natural gas from Russia. For instance, in Germany, the cost of a kilowatt hour on the electricity exchange increased by 600% over the prior year, from 10 to 30 euro cents in just two weeks.
Not only the energy sector was affected by the war. After the war broke out, many businesses, including Stora Enso, Huhtamaki, and Smurfit Kappa, either stopped producing in Russia or completely stopped doing business there.
Businesses typically encounter financial difficulties during recessions and look for cost-cutting strategies. Price pressures on packaging materials, including flexible packaging, may develop as businesses bargain with suppliers for lower prices or search for alternative, more affordable packaging solutions. The profitability of manufacturers of flexible packaging may be affected by this.
Companies frequently innovate during recessions and look for ways to increase operational effectiveness. This might result in the creation of more affordable packaging options or the adoption of more environmentally friendly and sustainable materials in the flexible packaging market. To cut costs and maintain their competitiveness, manufacturers may investigate novel technologies and approaches.
Businesses typically experience financial difficulties during recessions and look for ways to reduce costs. Price pressures on packaging materials, including flexible packaging, may develop as businesses bargain with suppliers for lower prices or search for alternative, more affordable packaging solutions. The profitability of companies that make flexible packaging may be affected by this.
By Raw Material
Plastic
Paper
Metal
Others
By Product Type
Pouches
Bags & Sacks
Labels
Films & Wraps
By Application
Food & Beverages
Pharmaceuticals
Cosmetic
Industrial
Others
With a revenue share of more than 40 % in 2023, Asia Pacific dominated the flexible packaging market. Due to the expanding organized retail and e-commerce industries, as well as the ease of obtaining raw materials, Asia Pacific nations like China and India are also anticipated to present potential growth opportunities for the players. The demand for packaged food products is anticipated to rise as a result of rising purchasing power in China, Indonesia, and India, which will propel market expansion over the forecast period.
In addition, North America's preference for packaged beverages and small-sized packs is expected to lead to a high level of demand for flexible packaging. According to data from the Flexible Packaging Association, 48% of Americans were willing to pay more for flexible packaging for food and beverages. Furthermore, it is anticipated that the region's product demand will benefit from the end-use product manufacturers' growing preference for using flexible packaging due to its marketing benefits.
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REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
South Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of the Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin American
Some major key players in the Flexible packaging market are Sealed Air Corporation, Amcor Ltd, Constantia Flexibles International GmbH, Mondi plc, Sonoco Products Company, Wipak Group, Ukrplastic, Huhtamaki Oyj, Bemis Company Inc, Ampac Holding, and other players.
Nestlé UKI made an investment in the Fife operation, Yes Recycling, which recycles flexible plastics—often used in food packaging—into building materials.
RECOUP has announced the inclusion of the county of Somerset and the city of Newcastle in the FlexCollect program, which is a project run by the Flexible Plastic Fund.
| Report Attributes | Details |
| Market Size in 2023 | US$ 273.02 Bn |
| Market Size by 2032 | US$ 418.12 Bn |
| CAGR | CAGR of 4.85% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Raw Material (Plastic, Paper, Metal, Others) • By Product Type (Pouches, Bags & Sacks, Labels, Films & Wraps) • By Application (Food & Beverages, Pharmaceuticals, Cosmetic, Industrial, Others) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Sealed Air Corporation, Amcor Ltd, Constantia Flexibles International GmbH, Mondi plc, Sonoco Products Company, Wipak Group, Ukrplastic, Huhtamaki Oyj, Bemis Company Inc, Ampac Holding |
| Key Drivers | • The market is expanding due to flexible packaging's ability to protect products and extend shelf life. |
| Market Opportunities | • The flexible packaging market has an opportunity due to the rising demand for eco-friendly packaging options. |
Ans: Flexible Packaging Market is expected to grow at a CAGR of 4.85% over the forecast period of 2024-2032.
Ans: The Flexible Packaging Market size was USD 273.02 Bn in 2023 and is expected to Reach USD 418.12 Bn by 2032.
Ans: Some major key players in the Flexible packaging market are Sealed Air Corporation, Amcor Ltd, Constantia Flexibles International GmbH, Mondi plc, Sonoco Products Company, Wipak Group, Ukrplastic, Huhtamaki Oyj, Bemis Company Inc, Ampac Holding.
Ans: The market is expanding due to flexible packaging's ability to protect products and extend shelf life.
Ans: With a revenue share of more than 40 % in 2023, Asia Pacific dominated the flexible packaging market.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of the Russia-Ukraine War
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
4.3 Supply Demand Gap Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Flexible Packaging Market Segmentation, By Raw Material
8.1 Plastic
8.2 Paper
8.3 Metal
8.4 Others
9. Flexible Packaging Market Segmentation, By Product Type
9.1 Pouches
9.2 Bags & Sacks
9.3 Labels
9.4 Films & Wraps
10. Flexible Packaging Market Segmentation, By Application
10.1 Food & Beverages
10.2 Pharmaceuticals
10.3 Cosmetic
10.4 Industrial
10.5 Others
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 North America Flexible Packaging Market by Country
11.2.2North America Flexible Packaging Market By Raw Material
11.2.3 North America Flexible Packaging Market By Product Type
11.2.4 North America Flexible Packaging Market By Application
11.2.6 USA
11.2.6.1 USA Flexible Packaging Market By Raw Material
11.2.6.2 USA Flexible Packaging Market By Product Type
11.2.6.3 USA Flexible Packaging Market by Application
11.2.7 Canada
11.2.7.1 Canada Flexible Packaging Market By Raw Material
11.2.7.2 Canada Flexible Packaging Market By Product Type
11.2.7.3 Canada Flexible Packaging Market By Application
11.2.8 Mexico
11.2.8.1 Mexico Flexible Packaging Market By Raw Material
11.2.8.2 Mexico Flexible Packaging Market By Product Type
11.2.8.3 Mexico Flexible Packaging Market By Application
11.3 Europe
11.3.1 Europe Flexible Packaging Market by Country
11.3.2 Europe Flexible Packaging Market By Raw Material
11.3.3 Europe Flexible Packaging Market By Product Type
11.3.4 Europe Flexible Packaging Market By Application
11.3.6 Germany
11.3.6.1 Germany Flexible Packaging Market By Raw Material
11.3.6.2 Germany Flexible Packaging Market By Product Type
11.3.6.3 Germany Flexible Packaging Market By Application
11.3.7 UK
11.3.7.1 UK Flexible Packaging Market By Raw Material
11.3.7.2 UK Flexible Packaging Market By Product Type
11.3.7.3 UK Flexible Packaging Market By Application
11.3.8 France
11.3.8.1 France Flexible Packaging Market By Raw Material
11.3.8.2 France Flexible Packaging Market By Product Type
11.3.8.3 France Flexible Packaging Market By Application
11.3.9 Italy
11.3.9.1 Italy Flexible Packaging Market By Raw Material
11.3.9.2 Italy Flexible Packaging Market By Product Type
11.3.9.3 Italy Flexible Packaging Market By Application
11.3.10 Spain
11.3.10.1 Spain Flexible Packaging Market By Raw Material
11.3.10.2 Spain Flexible Packaging Market By Product Type
11.3.10.3 Spain Flexible Packaging Market By Application
11.3.11 The Netherlands
11.3.11.1 Netherlands Flexible Packaging Market By Raw Material
11.3.11.2 Netherlands Flexible Packaging Market By Product Type
11.3.11.3 Netherlands Flexible Packaging Market By Application
11.3.11 Rest of Europe
11.3.11.1 Rest of Europe Flexible Packaging Market By Raw Material
11.3.11.2 Rest of Europe Flexible Packaging Market By Product Type
11.3.11.3 Rest of Europe Flexible Packaging Market By Application
11.4 Asia-Pacific
11.4.1 Asia Pacific Flexible Packaging Market by Country
11.4.2 Asia Pacific Flexible Packaging Market By Raw Material
11.4.3 Asia Pacific Flexible Packaging Market By Product Type
11.4.4Asia Pacific Flexible Packaging Market By Application
11.4.6 Japan
11.4.6.1 Japan Flexible Packaging Market By Raw Material
11.4.6.2 Japan Flexible Packaging Market By Product Type
11.4.6.3 Japan Flexible Packaging Market By Application
11.4.7 South Korea
11.4.7.1 South Korea Flexible Packaging Market By Raw Material
11.4.7.2 South Korea Flexible Packaging Market By Product Type
11.4.7.3 South Korea Flexible Packaging Market By Application
11.4.8 China
11.4.8.1 China Flexible Packaging Market By Raw Material
11.4.8.2 China Flexible Packaging Market By Product Type
11.4.8.3 China Flexible Packaging Market By Application
11.4.9 India
11.4.9.1 India Flexible Packaging Market By Raw Material
11.4.9.2 India Flexible Packaging Market By Product Type
11.4.9.3 India Flexible Packaging Market By Application
11.4.10 Australia
11.4.10.1 Australia Flexible Packaging Market By Raw Material
11.4.10.2 Australia Flexible Packaging Market By Product Type
11.4.10.3 Australia Flexible Packaging Market By Application
11.4.11 Rest of Asia-Pacific
11.4.11.1 APAC Flexible Packaging Market By Raw Material
11.4.11.2 APAC Flexible Packaging Market By Product Type
11.4.11.3 APAC Flexible Packaging Market By Application
11.5 The Middle East & Africa
11.5.1 The Middle East & Africa Flexible Packaging Market by Country
11.5.2 The Middle East & Africa Flexible Packaging Market By Raw Material
11.5.3 The Middle East & Africa Flexible Packaging Market By Product Type
11.5.4The Middle East & Africa Flexible Packaging Market By Application
11.5.6 Israel
11.5.6.1 Israel Flexible Packaging Market By Raw Material
11.5.6.2 Israel Flexible Packaging Market By Product Type
11.5.6.3 Israel Flexible Packaging Market By Application
11.5.7 UAE
11.5.7.1 UAE Flexible Packaging Market By Raw Material
11.5.7.2 UAE Flexible Packaging Market By Product Type
11.5.7.3 UAE Flexible Packaging Market By Application
11.5.8 South Africa
11.5.8.1 South Africa Flexible Packaging Market By Raw Material
11.5.8.2 South Africa Flexible Packaging Market By Product Type
11.5.8.3 South Africa Flexible Packaging Market By Application
11.5.9 Rest of Middle East & Africa
11.5.9.1 Rest of Middle East & Asia Flexible Packaging Market By Raw Material
11.5.9.2 Rest of Middle East & Asia Flexible Packaging Market By Product Type
11.5.9.3 Rest of Middle East & Asia Flexible Packaging Market By Application
11.6 Latin America
11.6.1 Latin America Flexible Packaging Market by Country
11.6.2 Latin America Flexible Packaging Market By Raw Material
11.6.3 Latin America Flexible Packaging Market By Product Type
11.6.4 Latin America Flexible Packaging Market By Application
11.6.6 Brazil
11.6.6.1 Brazil Flexible Packaging Market By Raw Material
11.6.6.2 Brazil Africa Flexible Packaging Market By Product Type
11.6.6.3 Brazil Flexible Packaging Market By Application
11.6.7 Argentina
11.6.7.1 Argentina Flexible Packaging Market By Raw Material
11.6.7.2 Argentina Flexible Packaging Market By Product Type
11.6.7.3 Argentina Flexible Packaging Market by By Application
11.6.8 Rest of Latin America
11.6.8.1 Rest of Latin America Flexible Packaging Market By Raw Material
11.6.8.2 Rest of Latin America Flexible Packaging Market By Product Type
11.6.8.3 Rest of Latin America Flexible Packaging Market By Application
12 Company Profile
12.1 Sealed Air Corporation
12.1.1 Market Overview
12.1.2 Financials
12.1.3 Product/Services/Offerings
12.1.4 SWOT Analysis
12.1.5 The SNS View
12.2 Amcor Ltd
12.2.1 Market Overview
12.2.2 Financials
12.2.3 Product/Services/Offerings
12.2.4 SWOT Analysis
12.2.5 The SNS View
12.3 Constantia Flexibles International GmbH
12.3.1 Market Overview
12.3.2 Financials
12.3.3 Product/Services/Offerings
12.3.4 SWOT Analysis
12.3.5 The SNS View
12.4 Mondi plc
12.4.1 Market Overview
12.4.2 Financials
12.4.3 Product/Services/Offerings
12.4.4 SWOT Analysis
12.4.5 The SNS View
12.5 Sonoco Products Company
12.5.1 Market Overview
12.5.2 Financials
12.5.3 Product/Services/Offerings
12.5.4 SWOT Analysis
12.5.5 The SNS View
12.6 Wipak Group
12.6.1 Market Overview
12.6.2 Financials
12.6.3 Product/Services/Offerings
12.6.4 SWOT Analysis
12.6.5 The SNS View
12.7 Ukrplastic
12.7.1 Market Overview
12.7.2 Financials
12.7.3 Product/Services/Offerings
12.7.4 SWOT Analysis
12.7.5 The SNS View
12.8 Huhtamaki Oyj
12.8.1 Market Overview
12.8.2 Financials
12.8.3 Product/Services/Offerings
12.8.4 SWOT Analysis
12.8.5 The SNS View
12.9 Bemis Company Inc
12.9.1 Market Overview
12.9.2 Financials
12.9.3 Product/Services/Offerings
12.9.4 SWOT Analysis
12.9.5 The SNS View
12.10 Ampac Holding
12.10.1 Market Overview
12.10.2 Financials
12.10.3 Product/Services/Offerings
12.10.4 SWOT Analysis
12.10.5 The SNS View
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments
14. USE Cases and Best Practices
15. Conclusion
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