Global Flexible Packaging Market is Set to Acquire 6.09% CAGR by 2025

According to Market Research Future (MRFR), the global flexible packaging market is expected to expand at 6.09% CAGR from 2019 to 2025 (forecast period). The report provides a comprehensive and in-depth review of the effect of the COVID-19 pandemic on the global flexible packaging market.

Packaging can be described as an economical means of providing product presentation, protection, identification, containment, convenience, and compliance during storage, transport, display, and usage. Flexible packaging refers to a package or material made of flexible and easily manufactured materials that can easily be transformed into multiple shapes when filled or closed. In addition, flexible packaging consists of plastics, paper, and metals as main components of flexible packaging products made from foil, paper sheets, laminated paper, and plastic layers.

Market Dynamics

One of the vital factors responsible for the flexible packaging market’s growth is the rising inclination of consumers towards convenience products. Changing customer preferences due to busy lifestyles and smaller household units need items that are easy to open, store, use, carry, and dispose and cater to their on-the-go lifestyles. This, in essence, supports product packaging that complements modern lifestyles. With convenient packaging, on the go options can be utilized for a wide range of products. Convenient packaging is not restricted to food and beverages but finds growing applications ranging from healthy products that support healthy lifestyle choices to prescription and personal care products. Convenience packaging is a crucial motivator for customers to shop. It affects their preference for a specific style or design of packaging and influences their behavior.

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Market Segmentation

The global market for flexible packaging has been segmented based on material, product type, printing technology, and application. 

• Based on material, the global flexible packaging market has been divided into plastic, paper, aluminum foil, and others. Due to its broad application in packaging across various end-use industries, the plastics segment dominates the industry. Various plastics, such as PVC, PE, PET, PP, and others, are commonly used in these industries. It also provides high-barrier, cost-effective, temperature-resistant, and durable packaging options.
• Based on product type, the global flexible packaging market has been segmented into pouches, bags, wraps, and others. The pouch segment has the highest market share, including stand-up pouches, retort pouches, and pillow pouches. Such pouches have high barrier properties against moisture and oxygen, combined with low material use and cost-effective properties.
• Based on printing technology, the global flexible packaging market has been segmented into flexography, digital printing, and others. Flexography has the highest market share. It is the conventional printing method that can be used across different substrate types, including corrugated cardboard, cellophane, fabric, plastic, label stock, and metallic film. The semi-liquid ink used in the printing process dries very easily, benefiting end-users.
• Based on the application, the global flexible packaging market is segmented into food & beverage, pharmaceutical, personal care, and others. The food & beverage segment holds the highest market share due to the increasing demand for ready-to-eat and on-the-go food and drinks.

Regional Analysis

Region-specific analysis of the global flexible packaging market spans across North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW).
In Asia Pacific, factors such as population growth and rapid industrialization in developing economies are expected to fuel market growth in the region. In addition, increased per capita disposable income and increasing customer preferences and lifestyles will positively affect the growth of the market. China, India, and Japan are the leading countries that make a significant contribution to the flexible packaging market in the region.

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Key Players

• Amcor Limited (Australia)
• Sealed Air (US)
• Berry Global Inc. (US)
• Sonoco Products Company (US)
• HUHTAMAKI GROUP (Finland)
• Mondi (Austria)
• CONSTANTIA (Austria)
• Reynolds (New Zealand)
• COVERIS (US)
• CLONDALKIN GROUP (The Netherlands).

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