Flexible Packaging Market to be Worth $359.3 Billion by 2031

Flexible Packaging Market Size, Share, Forecast, & Trends Analysis by Material (PE, PP, PVC, POF, Nylon, PET), Type (Biodegradable), Packaging (Pouches, Bags & Sachet, Films & Wraps), Industry (F&B, Cosmetics, E-commerce) - Global Forecast to 2031

Meticulous Research^®—a leading global market research company, published a research report titled, ‘Flexible Packaging Market Size, Share, Forecast, & Trends Analysis by Material (PE, PP, PVC, POF, Nylon, PET), Type (Biodegradable), Packaging (Pouches, Bags & Sachet, Films & Wraps), Industry (F&B, Cosmetics, E-commerce) - Global Forecast to 2031’

According to this latest publication from Meticulous Research^®, the flexible packaging market is projected to reach $359.3 billion by 2031, at a CAGR of 4.9% from 2024 to 2031. The growth of this market can be attributed to several factors, including the rapid expansion of the food & beverage sector, increasing demand for lightweight and convenient packaging solutions, and the rising e-commerce sector. Additionally, the increasing focus on sustainable packaging materials and recyclability and the growing demand for personalized packaging solutions are expected to create market growth opportunities. However, stringent regulatory compliance related to food safety and chemical migration may restrain the growth of this market. Moreover, limited barrier protection properties are a major challenge for the players operating in this market.

Additionally, the integration of smart features in packaging solutions is a key trend in the flexible packaging market.

The flexible packaging market is segmented by material, type, packaging type, and end-use industry. The study also evaluates end-user industry competitors and analyzes the market at the region/country level.

Based on material, the flexible packaging market is broadly segmented into polyethene (PE), polypropylene (PP), polyvinyl chloride (PVC), polyolefin film (POF), polyamide (Nylon), aluminium foil, polyester (PET), paperboard, and other materials types. In 2024, the polyethene (PE) segment is expected to account for the largest share of above 44.0% of the flexible packaging market. The large market share of this segment can be attributed to the growing demand for highly versatile and cost-effective material for various flexible packaging applications, increasing use of PE material due to its easy recyclability, and high barrier properties against moisture, chemicals, and gases.

However, the polyester (PET) segment is projected to witness the highest growth rate during the forecast period of 2024–2031. This growth is driven by the growing demand for PET in beverages and the personal care sector for various packaging formats due to its properties, including high barrier properties, lightweight nature, shatter resistance, extended shelf life, recyclability, and sustainability.

Based on type, the flexible packaging market is broadly segmented into biodegradable and non-biodegradable. In 2024, the non-biodegradable segment is expected to account for the larger share of above 60.0% of the flexible packaging market. The large market share of this segment can be attributed to the increasing use of non-biodegradable flexible packaging materials across various industries, including food & beverage, pharmaceuticals & healthcare, and personal care & cosmetics, growing use of materials including polyethylene (PE) and polypropylene (PP) in production of flexible packaging solutions, increasing use of non-biodegradable materials as it is more cost-effective compared to biodegradable alternatives.

However, the biodegradable segment is projected to witness a higher growth rate during the forecast period of 2024–2031. This segment’s growth is driven by the increasing shift in consumer preferences towards eco-friendly and compostable packaging options, growing awareness of environmental issues, increasing advancement in Bioplastics solutions, and increasing stringent government regulations and policies promoting sustainable packaging solutions.

Based on packaging type, the flexible packaging market is broadly segmented into pouches, bags & sachets, films & wraps, containers & tubs, and other packaging types. In 2024, the pouches segment is expected to account for the largest share of above 39.0% of the flexible packaging market. The large market share of this segment can be attributed to the growing demand for convenient packaging solutions suitable for on-the-go consumption, increasing use of stand-up pouches, flat pouches, and spouted pouches due to its versatility and cost efficiency compared to rigid packaging types.

However, the films & wraps segment is projected to register the highest growth rate during the forecast period of 2024–2031. This growth is driven by the growing demand for films & wraps due to its features, including easy customization with printing, labels, and coatings and high-performance barrier protection against moisture, gases, and contaminants.

Based on end-use industry, the flexible packaging market is broadly segmented into food & beverage, pharmaceuticals & healthcare, personal care & cosmetics, household products, industrial & chemical, retail & e-commerce, agriculture & horticulture, pet care, and other end-use industries. In 2024, the food & beverage segment is expected to account for the largest share of above 56.0% of the flexible packaging market. The large market share of this segment can be attributed to the increasing demand for portable and flexible food packaging options and the growing use of flexible packaging solutions for packaging snacks, beverages, and ready-to-eat meals and preserve food quality, reduce food waste, and extend shelf life.

However, the retail & e-commerce segment is projected to witness the highest growth rate during the forecast period of 2024–2031. This growth is driven by the rapid expansion of online retailing and e-commerce platforms, increasing demand for flexible packaging, including polybags, bubble mailers, and shrink films to optimize packaging efficiency, reduce material waste, and lower shipping costs, and growing demand for flexible packaging solutions with easy-open features, tamper-evident seals, and secure closures.

Based on geography, the flexible packaging market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is expected to account for the largest share of above 39.0% of the flexible packaging market, followed by North America, Europe, Latin America, and the Middle East & Africa. Asia-Pacific’s significant market share can be attributed to several key factors, including the rapid expansion of retail & e-commerce, and the food & beverage industry, growing demand for easy recyclable and high barrier property flexible packaging in personal care & cosmetics sector, and increasing demand for lightweight and customizable flexible packaging solutions for packaged food, beverages, and household goods. The region is also slated to register the highest growth rate of above 6.0% during the forecast period.

Key Players:

The key players operating in the flexible packaging market are Amcor Group GmbH (Switzerland), Westrock Company (U.S.), Sealed Air Corporation (U.S.), Transcontinental Inc. (Canada), DS Smith (U.K.), Huhtamäki Oyj (Finland), Berry Global Inc. (U.S.), Mondi plc (U.K.), Sonoco Products Company (U.S.), Constantia Flexibles (Austria), ProAmpac Intermediate, Inc. (U.S.), Sigma Plastics Group (U.S.), Wipf AG (Switzerland), KM Packaging Services Ltd (England), Coveris Management GmbH (Austria), and Winpak Ltd. (Canada).

Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=4220

Key Questions Answered in the Report:

Which are the high-growth market segments based on material, type, packaging type, end-use industry, and geography?
What was the historical market for the flexible packaging market?
What are the market forecasts and estimates for the period 2024–2031?
What are the major drivers, restraints, opportunities, and challenges in the flexible packaging market?
Who are the major players, and what shares do they hold in the flexible packaging market?
What is the competitive landscape in the flexible packaging market?
What are the recent developments in the flexible packaging market?
What are the different strategies adopted by the major players in the flexible packaging market?
What are the key geographic trends, and which are the high-growth countries?
Who are the local emerging players in the flexible packaging market, and how do they compete with the other players?

Contact Us:
Meticulous Research^®
Email- sales@meticulousresearch.com
Contact Sales- +1-646-781-8004
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research