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.
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