Flexible Packaging Market is expected to reach $348.92 billion by 2030, at a CAGR of 3.9% during the forecast period of 2023 to 2030. The increasing demand for fast-moving consumer goods (FMCG), growing E-commerce activities and food delivery services, rising consumer focus on convenience and sustainability, rising food losses and waste, and the need for downsizing packaging material usage are the key factors driving the growth of the flexible packaging market.
Furthermore, the shifting focus toward renewable & innovative packaging solutions and the rising demand from emerging markets are expected to provide significant growth opportunities for players operating in this market.
Increasing Consumer Focus on Convenience and Sustainability to Drive the Growth of the Flexible Packaging Market
Changing consumer preferences driven by busy lifestyles and smaller household units drive the demand for products that are easy to use, store, carry, and dispose of, catering to their on-the-go lifestyles. This trend favors product packaging that complements the modern lifestyle and focuses on convenience. The demand for convenient packaging is not limited to food and beverages but extends to other products, such as prescription and personal care items. Packaging convenience has become a key purchasing motivator for consumers, influencing their preferences toward a particular type or design of packaging.
The demand for sustainability has increased globally in recent years, with regulators playing a significant role. FMCG companies and retailers have responded to public concerns about single-use packaging waste by making bold commitments. Additionally, consumer attitudes towards sustainable packaging have evolved, with increased awareness about the environmental impact of single-use packaging.
Flexible packaging products, such as boil-in-the-bag, bake-in-the-carton, mix-in-the-pouch, and serve-from-the-tray, offer the convenience that modern consumers demand. Consumer packaged goods companies are responding to this demand by creating more snacking options in smaller sizes. Therefore, the changing consumer lifestyle and consumption habits will drive the adoption of flexible packaging in various end-user sectors, including food & beverages, pharmaceuticals & healthcare, and home & personal care.
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Key Findings in the Flexible Packaging Market Study:
In 2023, the Plastics Segment to Dominate the Flexible Packaging Market
Based on material type, in 2023, the plastics segment is expected to account for the largest share of the flexible packaging market. The large market share of this segment is due to the increasing usage of biodegradable plastics for flexible packaging and the growing adoption of different types of plastics, such as polypropylene, polyethylene terephthalate, polyvinyl chloride, and polystyrene, which are sustainable, lightweight, and easy to reuse and recycle. Additionally, they are highly economical and can be used by all industries, regardless of their scale of operations.
In 2023, the Pouches Segment to Dominate the Flexible Packaging Market
Based on design type, in 2023, the pouches segment is expected to account for the largest share of the flexible packaging market. The large market share of this segment is attributed to the rising demand for pouches across various applications in food & beverages, pharmaceuticals & healthcare, and home & personal care industries. In addition, the rising demand for lightweight and convenient packaging solutions increases the demand for pouches.
The Food & Beverages Segment to Witness Highest Growth Rate During the Forecast Period
Based on end-use industry, in 2023, the food & beverages segment is projected to witness significant growth during the forecast period of 2023–2030. The rapid growth of this segment is mainly driven by the rising number of automated food manufacturing plants, which demand modern packaging systems for barrier-free packaging of finished products.
Asia-Pacific: Fastest-growing Regional Market
Based on geography, in 2023, Asia-Pacific is expected to account for the largest share of the flexible packaging market, followed by Europe, North America, Latin America, and the Middle East & Africa. Asia-Pacific’s major market share is attributed to several factors, including the region's large population base, rising per capita income, increasing consumption of packaged food, growing organized retail and e-commerce sectors, and the presence of numerous manufacturing industries. These factors are expected to maintain China and India's dominant position in the market in the coming years.
The market in Asia-Pacific is also slated to register the fastest growth rate during the forecast period. The growth of this regional market is driven by changing lifestyles, increased investments, growing demand for packaging solutions with longer sustainability, and rising demand for fresh & quality food.
Key Players
The report includes a competitive landscape based on an extensive assessment of the key growth strategies adopted by leading market participants in the last three to four years. The key players profiled in this flexible packaging market study are Constantia Flexibles Group GmbH (Austria), Sonoco Products Company (U.S.), Berry Global Group, Inc. (U.S.), Mondi Group (U.K.), Reynolds Group Ltd. (New Zealand), Clondalkin Group Holdings B.V. (Netherlands), Amcor plc (U.K.), Huhtamäki Oyj (Finland), Coveris Management GmbH (Austria), and Sealed Air Corporation (U.S.).
Scope of the Report:
Flexible Packaging Market, by Material Type
- Plastics
- Polyethylene (PE)
- Polypropylene (PP)
- Polyethylene Terephthalate (PET)
- Polyvinyl Chloride (PVC)
- Polystyrene (PS)
- Other Plastics Types
- Paper
- Aluminum Foil
- Bioplastics
- Recycled Cellulose Fiber
- Other Material Types
Flexible Packaging Market, by Design Type
- Pouches
- Standup Pouches
- Flat Pouches
- Spouted Pouches
- Bags & Trays
- Gusseted Bags
- Wicketed Bags
- Rollstocks
- Squeezable Bottles
- Blisters
- Wraps
- Other Design Types
Flexible Packaging Market, by End-use Industry
- Food & Beverages
- Pharmaceuticals & Healthcare
- Home & Personal Care
- Tobacco Products
- Industrial & Chemical Products
- Oil & Lubricants
- Other End-use Industries
Flexible Packaging Market, by Geography
- North America
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe (RoE)
- Asia-Pacific (APAC)
- China
- India
- Australia
- Japan
- South Korea
- Rest of Asia-Pacific (RoAPAC)
- Latin America (LATAM)
- Brazil
- Mexico
- Argentina
- Rest of Latin America (RoLATAM)
- Middle East & Africa (MEA)
Key Questions Answered in the Report: