Flexible Packaging Market 2022 Segmentation, Future Business Strategy Analysis and Forecast by 2030
Research Reports
May 25, 2022
Market overview
Packaging is an economical means of presenting, protecting, labeling, and storing a product during the storage, transport, and selling process. It is a non-rigid packaging structure used for packaging products that, when filled or closed, can be readily changed into multiple shapes. This packaging method uses various flexible materials, including foil, plastic & paper, to create pouches, bags, and other foldable product containers that are sealed using heat or pressure. It is used to promote and distribute to a wide array of consumers. Certain food packaging applications are personal care, food beverages, industrial, healthcare, and others. The increasing promotion of biodegradable products and the emergence of bio-based films are accelerating the market. The growing protection for the products and convenience in handling is also helping the market to grow. The supply and manufacturing unit was heavily impacted and led to the downfall of various industries. The lack of labor, manufacturing units and raw materials hampered the market. As the pandemic effects are getting lessened, the market will increase in the future. The strict rules by the government due to environmental concerns can harm the market size. The flexible materials, eco-friendly and biodegradable, will create ample growth opportunities for the Flexible Packaging Market. The market is expected to hold USD 230.78 billion by 2030 with a CAGR of 4.9% during the forecast period.
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Market segmentation
The Flexible Packaging Market is categorized into several segments, and each of the segments holds the market share. The major segments of the market are Material, product type, printing technology, and Application. by Material; the market is divided into Plastic, Paper, Aluminum Foil, and others. among them, the plastic segment is expected to dominate the market as it can be modified into several forms and shapes and also the shipping cost is less. Consumer preference is also a factor. It is segregated into Pouches, Bags, Wraps, and others based on the Product Type. The Printing Technology is fragmented into Flexography, Digital Printing, and others. The Flexible Packaging Market categorizes the Application in Food & Beverage, Pharmaceutical, Personal Care, and others. The beverage segment is predicted to hold the largest market share due to the rising demand for packaged foods, including ready-to-eat meals, frozen meals, snack foods, and cake mixes.
Regional analysis
Based on the region, the Flexible Packaging Market is studied in North America, Asia Pacific, Europe, and other parts of the world. The Asia Pacific region is expected to hold the largest market size as the region has more population count than other regions. Including that, the rising disposable income of the consumer is also a factor in the market growth. In the region, the food and beverages sector is increasing in high power, so the flourishing food and beverage segment in the region will push the market forward to get the required value. Other regions are also contributing to the Flexible Packaging Market.
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Industry news
According to a new study, only 5% to 6% of the 46 million tons of plastic waste generated annually in the U.S. gets recycled, a big dip from the last estimate of nearly 9% just a few years ago.
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