Flexible packaging is a packaging film that is produced from flexible materials which can be used to package products of different shapes and sizes. It is made up of paper, plastic, foil, sheet, laminated sheet, and metal sheet. It ensure protection from damage during transportation and storage. It increases shelf-life of the product and also reduces the production waste. Flexible packaging uses fewer materials than rigid containers and also consumed less energy during production. Furthermore, it releases fewer greenhouse gas emissions which is better for sustainable environment.
Global flexible packaging market was valued at US$ 68.5 Billion in 2021 in terms of revenue, exhibiting a CAGR of 4.6% during the forecast period (2022 to 2030).
Drivers
Rising demand for flexible packaging in the primary packaging of products is expected to accelerate market growth. The prime function of primary packaging is to protect the product from any damage and contamination. Flexible packaging has all sorts of properties that exactly meet with the requirements of primary packaging such as light weight, low contamination, high barrier, and keeps the product completely secured from the environment. Thus, flexible packaging market across globe is expected to augment the market growth.
Shifting preferences of consumers for flexible packaging over rigid packaging due to sustainability advantage is expected to fuel the market growth of flexible packaging. Flexible packaging offers a number of sustainability advantages such as less consumption of raw material, reduced energy usage, low greenhouse gas emission, and low waste production as compared to conventional packaging formats. This makes it an ideal choice across the packaging industry and is highly preferred.
During COVID-19, a large number of people switched to online food shopping, a trend that will surely continue. Online channel is currently being one of the most widely preferred channel around the globe is witnessing significant growth in demand of packaging solution. More physical retailers shifting to online sales channels is further fuelling demand for e-commerce packaging solutions such as corrugated boxes, flexible packaging wraps, and others.
Figure 1. Global Flexible Packaging Market Value Share (%), By Region, 2021
To learn more about this report, request a free sample copy
Market Restraints
Recyclability issues associated with flexible packaging is a major factor expected to hinder the market growth. The multi-layers of flexible post-consumer use cannot be recycled easily. Moreover, plastic-metal packaging and plastic paper packaging are also difficult to recycle which has a negative impact on the environment. This is expected to hinder the market growth of flexible packaging. Fluctuating prices of raw materials used in the manufacturing of flexible packaging are expected to hinder the market growth over the forecast period. Unstable prices of crude oil due to various economical factors directly impact the overall price of production and raw materials. Plastic is a key ingredient used to manufacture flexible packaging.
Flexible Packaging Market Report Coverage
Report Coverage | Details | ||
---|---|---|---|
Base Year: | 2021 | Market Size in 2021: | US$ 68.5 Bn |
Historical Data for: | 2017-2020 | Estimated Year: | 2022 |
Forecast Period 2022 to 2030 CAGR: | 4.6% | Forecast Period: | 2022-2030 |
Geographies covered: |
|
||
Segments covered: |
|
||
Companies covered: |
Amcor Limited, Bemis Company, Sealed Air Corporation, Berry Plastics Group, Inc., Mondi Group, Sonoco Products Co., Huhtamäki Oyj, Constantia Flexibles Gmbh, Ampac Holdings, Llc, Bischof + KleinInternational, Wipak Group, AR Packaging, Goglio Group, Schur Flexibles, Clondalkin Group, Flair Flexible Packaging Solution Cellpack Packaging, and Südpack Verpackungen |
||
Growth Drivers: |
|
||
Restraints & Challenges: |
|
Market Trends
Market for flexible packaging has experienced numerous merger and acquisition activities, resulting in industry consolidation. Most of these events happened in the North America and European markets. The shift in trend from two- and three-layered films to seven- and nine-layered films due to their advantages such as extended shelf life with fewer chances of contamination is expected to augment the market growth of flexible packaging film.
Figure 2. Global Flexible Packaging Market Value Share (%), By Material Type, 2021
To learn more about this report, request a free sample copy
On the basis of material type, polymer dominated the global flexible packaging market in 2021 with around 60% of market share in terms of revenue, followed by paper and aluminum, respectively.
Recent Developments
Competitive Section
Major players operating in the global flexible packaging market include Amcor Limited, Bemis Company, Sealed Air Corporation, Berry Plastics Group, Inc., Mondi Group, Sonoco Products Co., Huhtamäki Oyj, Constantia Flexibles Gmbh, Ampac Holdings, Llc, Bischof + KleinInternational, Wipak Group, AR Packaging, Goglio Group, Schur Flexibles, Clondalkin Group, Flair Flexible Packaging Solution Cellpack Packaging, and Südpack Verpackungen
Frequently Asked Questions
Joining thousands of companies around the world committed to making the Excellent Business Solutions.
View All Our Clients