The market for flexible plastic packaging is approximated to be USD 182.4 billion in 2022, and it is projected to reach USD 264.9 billion by 2030, at a CAGR of 4.8%. Among the five packaging types, pouches are the dominant type, owing to their exceptional features such as lightweight, vacuum sealing, and low package-to-product ratio, among others. Pouches are especially in demand in the food and beverage industry, where they are used for packaging various products such as coffee, tea, milk, ketchup, and other food items. Pouches popularity can be attributed to their high resale value and suitability for a wide range of products.
By Packaging Type, Pouches accounted for the highest CAGR during the forecast period
Pouches are Flexible plastic packaging materials that are commonly made of plastic or laminated materials, and they are used to package a wide range of products, including food and beverage items, personal care products, pharmaceuticals, and more. Pouches are lightweight, easy to transport, and can be designed to stand up or lie flat, making them ideal for both retail and transportation. They also offer a high level of product protection, are easily sealable, and can be customized to meet specific branding and marketing needs. The food and beverage industry is the primary user of pouches due to their ability to package products such as coffee, tea, milk, ketchup, and other food items. The demand for pouches in this industry is expected to continue to grow due to the convenience and durability they offer. Other industries, such as personal care and pharmaceuticals, are also adopting pouches due to their portability and ability to preserve product quality and freshness.
By Material, Plastic accounted for the highest CAGR during the forecast period
Flexible plastic packaging products, such as pouches and films, are commonly made of plastic and are used to package a wide range of products, including soaps, detergents, snacks, ketchup, chocolates, candles, and other food items. Plastic-based Flexible plastic packaging is expanding at a higher rate compared to rigid plastic packaging, as it serves a variety of functions such as increasing the shelf life of products, maintaining food safety, and offering barrier protection against heat, pathogens, and other external entities. This makes plastic a popular choice for packaging in various industries, including food and beverages, personal care, and household products. One of the key advantages of plastic-based Flexible plastic packaging is its lightweight and ability to be easily customized to meet specific product and marketing needs. Additionally, plastic packaging is highly versatile and can be used for both retail and transportation purposes. These factors, along with the increasing demand for convenience and eco-friendliness, are driving the growth of plastic-based Flexible plastic packaging during the forecast period.
By End Use Industry, Personal care and cosmetics accounted for the highest CAGR during the forecast period
Flexible plastic packaging provides the beauty industry with packaging options that appeal to environmentally conscious consumers. This type of packaging is airtight and offers a durable protective barrier that helps maintain the freshness of powders, gels, and oils sold by personal care and cosmetic companies. It is commonly used for packaging various items such as cosmetics, perfumes, soaps, as well as facial tissues and napkins.
By Printing Technology, Flexography accounted for the highest CAGR during the forecast period
Flexography is a popular printing technique utilized in the printing of flexible plastic packaging. The process involves various stages such as image preparation, plate creation, printing, and finishing. Unlike other printing methods, flexography uses flexible materials like plastic, rubber, and UV-sensitive polymer to make plates. The inks used in flexography have low viscosity, enabling them to dry quickly, which speeds up the printing process and reduces production costs.
APAC is projected to account for the highest CAGR in the Flexible plastic packaging market during the forecast period.
The Asia Pacific region is experiencing the most rapid growth in the flexible packaging market, with India, China, Japan, Australia, South Korea, and other countries in the region being included. Due to increased economic development and expansion, India, China, and Japan are expected to see significant growth in the flexible packaging market. Additionally, the increasing urbanization in these countries has created a substantial customer base for food, beverage, and FMCG products, further driving the growth of the flexible packaging market in the projected period.
- By Department: Sales/Export/ Marketing: 53.5%, Production: 23.3%, and CXOs: 23.3%
- By Designation: Managers: 60.5%, CXOs: 23.3%, and Executives: 16.3%
- By Region: North America: 33%, Europe: 27%, Asia Pacific: 25%, Middle East & Africa: 10%, and South America: 5%.
Companies Covered: Huhtamaki Oyj (Finland), Berry Global Group Inc. (US), Amcor Limited. (Australia), Mondi Group. (UK), Sonoco Products Company (US), Coveris Holdings(Luxembourg), Bischof + Klein SE & Co KG (Germany), Constantia Flexibles (Austria), Sealed Air Corporation (US), Transcontinental Inc (Canada), and others
The market study covers the Flexible plastic packaging market across various segments. It aims at estimating the market size and the growth potential of this market across different segments based on application, packaging type, material, and region. The study also includes an in-depth competitive analysis of key players in the market, their company profiles, key observations related to their products and business offerings, recent developments undertaken by them, and key growth strategies adopted by them to improve their position in the Flexible plastic packaging market.
Key Benefits of Buying the Report
The report is expected to help the market leaders/new entrants in this market share the closest approximations of the revenue numbers of the overall Flexible plastic packaging market and its segments and sub-segments. This report is projected to help stakeholders understand the competitive landscape of the market, gain insights to improve the position of their businesses, and plan suitable go-to-market strategies. The report also aims at helping stakeholders understand the pulse of the market and provides them with information on the key market drivers, challenges, and opportunities.