Flexible Plastic Packaging Market by Packaging Type (Pouches, bags, roll stock, films & wraps), Printing Technology (Flexography, Rotogravure, Digital Printing), End-user Industry, Material (Plastics, aluminum Foils,) and Region - Global Forecast to 2030
Updated on : April 22, 2023
Flexible Plastic Packaging Market
The global flexible plastic packaging market was valued at USD 182.4 billion in 2022 and is projected to reach USD 264.9 billion by 2030, growing at a cagr 4.8% from 2022 to 2030. Flexible plastic packaging is a modern packaging solution that utilizes pliable materials, which offers a cost-effective and adaptable packaging option for a wide range of products. Its popularity in the packaging industry has increased due to its efficacy and affordability. This method is versatile and can be used to produce various products such as pouches, bags, sachets, roll stocks, and wraps, using materials such as metal and plastic. The food and beverage, personal care, and pharmaceutical sectors are some of the industries that can benefit significantly from this form of packaging due to its adaptability to their diverse needs. In summary, flexible plastic packaging is a revolutionary solution that provides a cost-effective and adaptable packaging option for businesses seeking versatile packaging solutions.
Attractive Opportunities in the Flexible Plastic Packaging Market
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Flexible Plastic Packaging Market Dynamics
Driver: cost-effectiveness and increased product shelf will drive the market.
Flexible plastic packaging is known for its cost-effectiveness. It is a relatively inexpensive option for manufacturers due to its lightweight and low material cost. The production of flexible plastic packaging involves less energy and resources than other materials like glass, metal, or paper. This reduces transportation and storage costs for manufacturers and lowers consumer packaging expenses. The cost advantage is a significant reason why manufacturers across various industries prefer flexible plastic packaging. Additionally, flexible plastic packaging also helps to extend the shelf life of products. This is achieved through barrier films, which prevent moisture, air, and other external contaminants from entering the packaging. As a result, the shelf life of products is increased, and they can be transported and stored for longer periods without losing quality or freshness. This feature is essential for perishable products or with a short shelf life, such as food and beverages.
Restraint: High cost of flexible plastic packaging raw material and unavailability of good recycling infrastructure
Rising prices for raw materials can be a significant restraint in the flexible plastic packaging industry. Flexible packaging products are made from various raw materials such as plastic, paper, and metal. The cost of raw materials, such as polyethylene and polypropylene, can vary greatly depending on market conditions, supply and demand, and other factors. These fluctuations can significantly impact the cost of producing flexible plastic packaging.
Non-availability of efficient recycling activities is a significant restraint in the flexible plastic packaging market because it limits the amount of plastic that can be effectively recycled. The lack of efficient recycling activities can lead to a build-up of plastic waste in landfills, oceans, and other natural habitats, resulting in environmental pollution and harm to wildlife. Recycling plastic packaging waste is a process that requires state-of-the-art infrastructural facilities. It is a time-consuming process that demands personnel expertise. However, some parts of the world lack recycling facilities.
Opportunities: Implementing sustainable packaging solutions to meet growing consumer demand and preferences
Consumers prefer brands that adopt sustainability in their products. Similarly, they refrain from using brands that irresponsibly and negatively impact the environment. As a result, many flexible plastic packaging companies are investing in research and development to find new, sustainable packaging materials. They are also implementing recycling programs and designing packaging that is easier to recycle. As consumers continue to demand more sustainable options, the industry will likely continue to evolve and innovate to meet these demands and thus giving an opportunity to flexible plastic packaging manufacturers to attract them toward their sustainable packaging.
Challenges : Recyclability of plastics
The recyclability of flexible plastic packaging is an environmental and social issue and a major challenge that the packaging industry faces. Recycling multiple-layer flexible plastic packaging is complex, as it involves more steps than mono-layer flexible plastic packaging. Multi-layer flexible plastic packaging consists of a mix of polymer types and inks, which makes it difficult to sort from bulk waste. During the recycling process, polypropylene (PP) films can get stuck in recycling machines and cause disruptions, especially when mixed with other plastic packaging materials. This is because PP films have a lower melting point than other types of plastics, which can cause them to melt and stick to recycling equipment, leading to blockages and other issues, thus increasing production expenses and time.
Flexible Plastic Packaging Market Ecosystem Diagram
By End Use Industry, the Food industry accounted for the highest CAGR during the forecast period
The food industry has emerged as a key driver for the growth of the flexible plastic packaging market, exhibiting the highest CAGR during the forecast period. This can be attributed to several factors, including the rising demand for hygiene and sustainability in food packaging, increasing urbanization, changing consumer lifestyles, and high disposable income. Consumers today place great emphasis on food safety and aesthetic appeal, and manufacturers have responded by investing in specialized R&D facilities that employ cutting-edge technologies to create packaging that meets these requirements. Flexible plastic packaging has several advantages that make it an attractive choice for both manufacturers and consumers in the food industry. Its excellent barrier properties ensure the protection of food products, while its lightweight nature and ability to be made using fewer resources make it a more sustainable option. Additionally, flexible packaging can extend the shelf life of food products, reducing food waste and improving overall product quality. These benefits, combined with the increasing demand for hygienic and visually appealing packaging, are driving the growth of the flexible packaging market in the food industry.
By Packaging Type, the Pouches segment accounted for the highest CAGR during the forecast period
The pouches segment is expected to have the highest CAGR during the forecast period. Pouches are small bags made up of two flat, flexible sheets that are sealed along the edges to form a compartment whose volume depends on the position of the walls. There are two main types of pouches: stand-up pouches (SUPs) and flat or pillow pouches. Stand-up pouches can be further categorized into standard and retort stand-up pouches. Pouches are a great packaging option for bulk coffee or food items such as dried or smoked meats, as they are easy to use, heat sealable, and available in many different sizes and formats.
Asia Pacific is projected to account for the highest CAGR in the flexible plastic packaging market during the forecast period
the flexible plastic packaging market in the Asia Pacific region has exhibited the fastest growth. The region includes countries such as India, China, Japan, Australia, South Korea, and the Rest of Asia Pacific. The flexible plastic packaging market in countries like India, China, and Japan is expected to experience significant growth due to increasing developmental activities and rapid economic expansion. Moreover, the region's growing population presents a vast customer base for fast-moving consumer goods (FMCG) products and food & beverages, which is expected to drive growth in the flexible plastic packaging market.
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By Material Type, the Plastic segment accounted for the highest growth during the forecast period
The shift toward flexible plastic packaging options made of plastic is one of the major trends that is anticipated to have an impact on the flexible plastic packaging business in the future. Plastic films are made from a wide range of polymers and have the ability to be molded into the desired shape when subjected to heat or pressure. Plastic films can be easily formed, are of high quality, are cost-effective, and provide excellent barrier properties. Hence, they are preferred for flexible plastic packaging. Moreover, plastic films offer down-gauging properties, as they allow manufacturers to use minimum resources to manufacture a package. Plastic films offer excellent product visibility and provide secure and attractive packaging options. Plastic films manufactured from polyethylene, polypropylene, PVC, and polyamide are widely used for flexible plastic packaging.
By Printing Technology, the Flexography segment accounted for the second-highest CAGR during the forecast period
various brands that sell products such as food, wine, motor oil, and grass seed prefer flexographic printing over other printing techniques. The reason for this preference is due to the recent advancements in flexographic printing, which now provides several benefits that are highly attractive to product marketers and purchasing managers. These benefits include the ability to produce high-quality images and graphics, ensuring high consistency, and enabling quick, cost-effective changeovers that support small quantity runs. This has led to an increase in popularity of flexographic printing among various market segments, with its usage expected to grow rapidly due to the various benefits it offers.
Flexible Plastic Packaging Market Players
Flexible plastic packaging comprises major manufacturers such as Huhtamaki Oyj (Finland), Berry Global Group Inc. (US), Amcor Limited. (Australia), Mondi Group. (UK), and Sonoco Products Company (US) were the leading players in the flexible plastic packaging market. Expansions, acquisitions, joint ventures, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the flexible plastic packaging market.
Flexible Plastic Packaging Market Report Scope
Value (USD Billion), and Volume (Kilo Ton)
Type, Material, Printing Technology, Application, and Region
North America, Europe, South America, Asia Pacific, Middle East & Africa.
The major players are 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 are covered in the flexible plastic packaging market.
This research report categorizes the global flexible plastic packaging market on the basis of Type, Application, and Region.
Flexible Plastic Packaging Market, By Type
- Films & Wraps
- Other Packaging Types
Flexible Plastic Packaging Market, By Material
- Other Materials
Flexible Plastic Packaging Market, By Printing Technology
- Digital Printing
- Other Printing Technologies
Flexible Plastic Packaging Market, By Application
- Pharmaceutical & Healthcare
- Personal Care & Cosmetics
- Other Applications
Flexible Plastic Packaging Market, By Region
- North America
- Asia Pacific (APAC)
- South America
- Middle East & Africa
The market has been further analyzed for the key countries in each of these regions.
- In January 2023, Amcor Limited acquired MDK, a Chinese company that provides packaging for medical devices. This acquisition will strengthen Amcor’s leadership in the Asia Pacific medical packaging segment, especially serving China, India, and Southeast Asia markets.
- In December 2022, Amcor Limited signed a Memorandum of Understanding (MOU) with Licella Holdings to invest in plastic advanced recycling facilities in Australia. This deal strengthens Amcor and Licella's commitment to developing a local circular economy for soft plastics in Australia and advances Amcor toward achieving its objective of having 30% recycled content in all of its products by 2030.
- In September 2022, Berry Global Group, Inc. announced a collaboration with Mars Inc. to launch its popular pantry-sized treats in polyethylene terephthalate (PET) jars that have been optimized by including 15% recycled plastic content, i.e., post-consumer resin (PCR).
- In September 2022, Amcor Limited announced a strategic investment in ePac Flexible Packaging, a leader in high-quality flexible packaging materials. This investment is expected to increase the shareholding of Amcor Limited in ePac Holdings LLC.
- In July 2022, Berry Global Group, Inc. partnered with McCormick & Company, Inc. to produce bottles that are made from 100% post-consumer recycled plastic and helped the latter to achieve its sustainability goals.
Frequently Asked Questions (FAQ):
What are the major drivers driving the growth of the Flexible plastic packaging Market?
The major drivers influencing the growth of the Flexible plastic packaging market are increasing demand for food products in the food industry, beverages, Pharmaceutical and Healthcare, Personal care, and cosmetics.
What are the major challenges in the Flexible plastic packaging Market?
The major challenge in the Flexible plastic packaging market is the rapid change in the technology for producing flexible plastic packaging products.
What are the restraining factors in the Flexible plastic packaging Market?
The major restraining factor faced by the flexible plastic packaging market is the high cost of raw materials which are used to make a wide variety of flexible plastic packaging products and the non-availability of good recycling infrastructure.
What is the key opportunity in the Flexible plastic packaging Market?
The growing demand for sustainable packaging has a new opportunity for the Flexible plastic packaging market. .
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This research involved the use of extensive secondary sources and databases, such as Factiva and Bloomberg, to identify and collect information useful for a technical and market-oriented study of the flexible packing market. Primary sources included industry experts from related industries and preferred suppliers, manufacturers, distributors, technologists, standards & certification organizations, and organizations related to all segments of the value chain of this industry. In-depth interviews have been conducted with various primary respondents, such as key industry participants, subject matter experts (SMEs), executives of key companies, and industry consultants, to obtain and verify critical qualitative and quantitative information as well as to assess growth prospects.
In the secondary research process, various sources such as annual reports, press releases, and investor presentations of companies, white papers, and publications from recognized websites and databases have been referred to for identifying and collecting information. Secondary research has been used to obtain key information about the industry's supply chain, the total pool of key players, market classification and segmentation according to the industry trends to the bottom-most level, regional markets, and key developments from both market-and technology-oriented perspectives.
The flexible plastic packaging market comprises several stakeholders in the supply chain, which include suppliers, processors, and end-product manufacturers. Various primary sources from the supply and demand sides of the markets have been interviewed to obtain qualitative and quantitative information. The primary participants from the demand side include key opinion leaders, executives, vice presidents, and CEOs of companies in the flexible plastic packaging market. Primary sources from the supply side include associations and institutions involved in the flexible plastic packaging industry, key opinion leaders, and processing players.
Following is the breakdown of primary respondents—
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Market Size Estimation
Both top-down and bottom-up approaches were used to estimate and validate the size of the global flexible plastic packaging market. The research methodology used to estimate the market size includes the following:
- The key players in the industry were identified through extensive secondary research.
- The supply chain of the industry and market size, in terms of value, were determined through primary and secondary research.
- All percentage share split, and breakdowns were determined using secondary sources and verified through primary sources.
- All possible parameters that affect the markets covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
- The research includes the study of reports, reviews, and newsletters of key industry players, along with extensive interviews with key officials, such as directors and marketing executives.
Market Size Estimation: Bottom-Up Approach and Top-Down Approach
After arriving at the total market size from the estimation process explained above, the overall market was split into several segments and subsegments. To complete the overall market size estimation process and arrive at the exact statistics for all segments and subsegments, data triangulation and market breakdown procedures have been employed, wherever applicable. The data have been triangulated by studying various factors and trends from both the demand and supply sides. In addition, the market size has been validated by using both the top-down and bottom-up approaches.
The flexible plastic packaging market refers to the industry that produces and supplies packaging materials made from various types of plastic that can easily bend, twist or stretch. Flexible plastic packaging material refers to a type of packaging material that is made from thin, pliable plastic films or sheets. These films can be easily shaped and molded into various forms, such as pouches, bags, wrappers, or liners, to suit the specific packaging needs of different products. Flexible plastic packaging is highly versatile, lightweight, and durable. It often provides excellent barrier properties against moisture, oxygen, light, and other external factors that can affect the quality and shelf life of the packaged contents. It is commonly used in food, beverage, pharmaceutical, personal care, and other industries, where it helps to protect and preserve products, reduce waste, and enhance convenience and portability for consumers.
- Raw Material Suppliers and Producers
- Regulatory Bodies
- Flexible Packaging Traders, Distributors, and Suppliers
- Flexible Packaging End-use Industries
- Associations and Industrial Bodies
- Local Governments
- Market Research and Consulting Firms
- To define, describe, and forecast the global flexible plastic packaging market in terms of value
- To provide insights regarding the significant factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
- To analyze and forecast the market based on type, region, and end-use application.
- To forecast the market size, in terms of value, with respect to five main regions: North America, Europe, South America, Asia Pacific, Middle East & Africa.
- To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape
- To strategically profile key players in the market
- To analyze competitive developments in the market, such as new product launches, capacity expansions, and mergers & acquisitions
- To strategically profile the leading players and comprehensively analyze their key developments in the market
Along with the given market data, MarketsandMarkets offers customizations as per the specific needs of the companies. The following customization options are available for the report:
- Product Matrix, which gives a detailed comparison of the product portfolio of each company
- Further breakdown of the Rest of the Asia Pacific Flexible plastic packaging market
- Further breakdown of the Rest of Europe's Flexible plastic packaging market
- Detailed analysis and profiling of additional market players (up to 5)
Growth opportunities and latent adjacency in Flexible Plastic Packaging Market