Flexible Packaging Industry Analysis And Segment Forecast till 2030
The global flexible packaging market size is expected to reach USD 373.34 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.8% from 2024 to 2030. This market growth is owing to the growing importance of increasing food shelf life and growing adoption of sustainable and cost-effective packaging by end-users.
The shelf life of food products depends on factors such as storage conditions, packaging material, and exposure to microorganisms, oxygen, light, and moisture. The flexible packaging consists of plastic films with high barrier properties. The high-barrier properties efficiently block the transmission of moisture, light, and oxygen from contacting sensitive foods. Furthermore, the reseal closure products featured flexible packaging that allow users to securely close the bags or pouches, ensuring the freshness of the packaged food products over several uses.
The industry players are adopting several strategies including partnerships, expansions, mergers & acquisitions, joint ventures, new product launches, and partnership agreements to increase the customer base and individual market share. For instance, in May 2023, Amcor plc inked an agreement to acquire New Zealand-based automated protein packaging machines manufacturer, Moda Systems. This acquisition is expected to provide Amcor plc with a new option related to equipment in automated protein products packaging, making it the only flexible packaging manufacturer to own high-speed rotary equipment for packaging fresh meat.
Gather more insights about the market drivers, restrains and growth of the Global Flexible Packaging Market
Flexible Packaging Market Report Highlights
- The rapid growth of e-commerce sector globally creates opportunities for flexible packaging manufacturers to cater to the specific needs of online retail businesses. Companies that develop packaging solutions to protect products during transit, reduce damage, and improve unboxing experiences can gain a competitive advantage in the e-commerce market
- The growing number of medical device manufacturers and ongoing research on new packaging materials is driving the market for medical flexible packaging. The strong healthcare infrastructure coupled with growing healthcare spending in the public sector is expected to have a positive impact on market demand
- The pouches segment is expected to grow at a CAGR of 5.2% over the forecast period 2024-2030. This is owing to the pouches being resealable and a cost-effective alternative to metal, cardboard, and glass containers for packaging solutions
- Food & beverage was the largest application segment, accounting for 55.9% of global volume share in 2023. Growing demand for packaged foods, including ready-to-eat meals, frozen meals, snack foods, and cake mixes, is expected to force flexible packaging manufacturers to increase production capacity, thus augmenting market for flexible packaging demand over the forecast period
- Asia Pacific recorded a higher market share in 2023 owing to factors such as rising population, rising income levels, and changing lifestyles are expected to drive consumption of the packaged food cosmetics, and pharmaceutical products resulting in increased demand for flexible packaging solutions
- Several key companies are collaborating to strengthen their market positions in the flexible packaging industry. For instance, in June 2023, Coveris acquired Poland-based D.K. LAMIN, a manufacturer of flexible packaging laminated films and converted products. With an emphasis on value-added medical packaging, home and personal care food, and pet food, D.K. LAMIN's experience and product offerings integrate with Coveris' existing product portfolio, particularly complementing its pet food growth goal
Browse through Grand View Research's Plastics, Polymers & Resins Industry Research Reports.
- Cross-linked Polyethylene Market: The global cross-linked polyethylene market size was valued at USD 8.0 billion in 2023 and is projected to grow at a CAGR of 6.9% from 2024 to 2030.
- Poly Alpha Olefin Market: The global poly alpha olefin market size was valued at USD 1.48 billion in 2023 and is projected to grow at a CAGR of 2.8% from 2024 to 2030.
Flexible Packaging Market Segmentation
Grand View Research has segmented the global flexible packaging market report based on material, product, application, and region
Flexible Packaging Material Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
- Plastics
- Polyethylene (PE)
- Polypropylene (PP)
- Polyamide (PA)
- Polyvinyl Chloride (PVC)
- Polystyrene (PS)
- Others
- Paper
- Metal
- Bioplastics
Flexible Packaging Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
- Bags
- Pouches
- Retort Pouches
- Refill Pouches
- Rollstock
- Films & Wraps
- Others
Flexible Packaging Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
- Food
- Beverages
- Pharmaceutical & Healthcare
- Personal Care & Cosmetics
- Others
Flexible Packaging Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa
Order a free sample PDF of the Flexible Packaging Market Intelligence Study, published by Grand View Research.
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