Global Flexible Packaging Market is estimated to be valued at US$ 68.5 Billion in 2021, according to the Flexible Packaging Market Report, by Product Type (Stand-up Pouches, Vacuum Pouches, Retort Pouches, Converted Roll Stock, Gusseted Bags, Wicketed Bags, Laminated Tubes, Squeezable Bottles, Others), by Material Type (Polymer (Polyethylene (LDPE, HDPE, LLDPE), Polypropylene, BOPP, Cast polypropylene, BOPET, Polyamide, Poly Vinyl Chloride, Ethylene Vinyl Alcohol, Poly Styrene), Paper, Aluminum, Cellulosic), by Application (Consumer Goods (Food & Beverages (Dairy Products, Bakery & Confectionery, Ready-to-Eat Food Products, Frozen & Chilled Food, Tea, Others), Personal Care, Pharmaceuticals, Tobacco, Others), Industrial and Institutional), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa), published by Coherent Market Insights.  

Global flexible packaging market was valued at US$ 68.5 Billion in 2021. Flexible packaging market is expected to register a CAGR of 4.6% over the forecast period (2022–2030), to reach US$ 103 Billion by 2030. Flexible packaging is an effective and efficient packaging solution that offers a manufacturer as well as consumer various convenience benefits. It is easy to handle as it is lightweight material and thus offers lightweight shipping and storage. They are widely used across the packaging industry due to their various advantages such as durability, resistance to crack, heat, and abrasion. Moreover, flexible packaging also helps in increasing shelf-life of the product and maintaining product quality. They offer a barrier against moisture and other foreign particles, which makes them ideal for packaging of pre-cooked and processed food products. Food & beverages, personal care, pharmaceuticals, and electronic & electrical are some of the major end use of flexible packaging.

 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.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/flexible-packaging-market-3773

Browse 50 market data tables* and 40 figures* on "Global Flexible Packaging Market” - Forecast to 2030.

Key Trends and Analysis of the Global Flexible Packaging Market:

  • Growing trend of using stand-up pouches by the consumers due to the rising preference for lightweight, easy to handle and re-closable products with an increased shelf life is propelling the market growth. Key players are focusing on introducing sustainable, lightweight, stand-up pouches with increased shelf life. Rising trend of using pillow pouches due to their versatile design, it enables to easily accommodate products in liquid, solid, and powder form. Moreover, pillow pouches offer advanced features such as re-sealable feature and tear notches, which are also expected to increase the product demand over the forecast period.

Key Takeaways of the Global Flexible Packaging Market:

  • On the basis of product type stand-up pouches dominated the global flexible packaging market in 2021 with around 22% of market share in terms of revenue, followed by vacuum pouches and retort pouches, respectively.
  • According to the World Economic Forum in 2016, every year, at least 8 million tons of plastic leaks into the ocean, which is equivalent to dumping the contents of one garbage truck into the ocean every minute. This is expected to increase to two per minute by 2030 and four per minute by 2050, which can destroy the ecosystem. About 90% of all the trash in the oceans is from plastic. Estimates suggest that flexible plastic packaging represents the major share. Hence, recycling becomes a major challenge in the flexible plastic packaging industry, which provides re-use value, and results in lower wastage.
  • New product launches, merger & acquisitions, strategic partnership expansion, and research & development activities for the flexible packaging plants are key strategies adopted by key players in the global flexible packaging market

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