Flexible Packaging Market – Trends Forecast Till 2030

Market Snapshot

Market Overview

The global Flexible Packaging Market size was estimated at USD 250.7 billion in 2023 and is projected to reach USD 321.2 billion in 2030 at a CAGR of 5.1% during the forecast period 2024-2030.

The flexible packaging market is a dynamic and rapidly evolving segment within the packaging industry, known for its use of materials that are not rigid. This packaging method includes a variety of products such as pouches, bags, sachets, roll stocks, and wraps, which are made from flexible raw materials like metal, plastic, and paper. The popularity of flexible packaging has surged due to its cost-effectiveness, adaptability, and efficiency in preserving product quality.

The market for flexible packaging is driven by several critical factors. There is a growing demand for convenient, lightweight, and easy-to-transport packaging solutions. Modern consumers prioritize convenience, which flexible packaging offers through its ability to accommodate various shapes and sizes. Additionally, there is an increasing awareness of sustainability among consumers. Flexible packaging often uses less material compared to traditional rigid packaging, contributing to a reduced environmental footprint. Furthermore, advancements in packaging technology have enhanced the shelf life and protection of products, making flexible packaging an attractive choice for many industries.

Flexible packaging caters to a wide range of sectors, including food and beverage, personal care, and pharmaceuticals. The food and beverage industry, in particular, benefits significantly from flexible packaging due to its ability to maintain product freshness and extend shelf life. The pharmaceutical sector also leverages flexible packaging for its efficiency and regulatory compliance.

Among the materials used in flexible packaging, polyethylene is particularly prominent. Low-density polyethylene (LDPE) is widely used for manufacturing plastic bags due to its lightweight, flexibility at low temperatures, and chemical resistance. However, environmental concerns regarding plastic waste and pollution are substantial. The impact of plastic packaging on marine life and ecosystems has led to a push for more eco-friendly materials, such as biodegradable plastics and kraft paper.

The COVID-19 pandemic had a mixed impact on the flexible packaging market. While demand declined in sectors like electronics and personal care due to reduced consumer spending and production halts, the food and beverage industry saw a surge in demand. The lockdowns increased the consumption of ready-to-eat and ready-to-cook food products, driving demand for flexible packaging in this segment. Despite supply chain disruptions, particularly from China, the demand for flexible packaging remained robust in the food sector.

Looking forward, the flexible packaging market is poised for continued growth. Increased investments in eco-friendly packaging solutions and the expansion of the e-commerce sector are expected to drive demand. As retail sales grow and new products are introduced, the adaptability of flexible packaging will be crucial in meeting diverse industry needs. The market's ability to evolve with consumer preferences for sustainability and convenience will ensure its expansion in the coming years.

Delvens Industry Expert's Standpoint

The flexible packaging market is currently experiencing robust growth, driven by its efficiency, cost-effectiveness, and adaptability across various industries, including food and beverage, personal care, and pharmaceuticals. The use of less material in production, combined with lower energy consumption and reduced production time, makes flexible packaging an environmentally friendly option. Its lightweight nature and innovative designs enhance portability and storage convenience, contributing to its popularity. The demand for flexible packaging has surged due to hectic lifestyles and the growing preference for ready-to-eat meals, particularly among working-class individuals in both developed and developing economies. The ongoing advancements in food processing techniques and increasing consumer awareness of sustainability are further boosting this market. Government regulations promoting sustainable packaging solutions are also expected to play a significant role in market growth. Looking ahead, the flexible packaging market is projected to expand significantly during the forecast period, driven by these factors and the rising emphasis on eco-friendly practices.

Market Portfolio

Key Findings

• On the basis of Material, the plastic segment will drive the growth of the flexible packaging market due to its unique attributes such as flexibility, sustainability, and lightweight nature. Its cost-effectiveness and suitability for all industries, combined with ease of reuse and recyclability, make it highly attractive. The rising use of biodegradable plastics aligns with increasing consumer demand for eco-friendly products. Additionally, plastic’s durability, ability to withstand various temperatures, and potential for high-quality, custom designs enhance product visibility and appeal. Growing income levels and an expanding middle-class population further boost demand, particularly for packaged fast foods, solidifying plastic’s role in flexible packaging growth.

• On the basis of Product Type, the product type segment will drive the growth of the flexible packaging market due to its rising demand for lighter and convenient packaging solutions. Flexible pouches offer unparalleled benefits in terms of convenience and innovation, making them increasingly popular in various industries, including cosmetics. Their lightweight nature and ease of use appeal to consumers, while their ability to provide high-quality, customizable packaging enhances product appeal. This growing preference for pouches, combined with their versatility across different applications, will significantly boost the flexible packaging market during the forecast period from 2022 to 2030.

• On the basis of Packaging Technology, the packaging technology segment will drive the growth of the flexible packaging market due to its ability to produce high-quality images and graphics, along with consistent and repeatable results across various products like food, wine, motor oil, and grass seed. Its advantages in quick, cost-effective changeovers support small-quantity runs, making it appealing for product marketing and purchasing management. As more industries adopt flexographic printing for its efficiency and quality, its popularity is expected to soar. This increasing application of flexography in flexible packaging will significantly enhance market growth during the forecast period from 2022 to 2030.

• The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. Asia Pacific held the largest Flexible Packaging Market share driven by a growing population, organized retail, developing e-commerce, low-cost labor, and increasing demand for snacks and beverages.

Regional Analysis

Asia pacific to Dominate the Market

• Asia Pacific held the largest share of the Flexible Packaging Market, driven by increasing disposable income, global foreign investments, and a growing population in countries like China, India, and Japan. The demand in the food and beverage industry is particularly strong. Additionally, the rising number of smartphone users and internet penetration are fueling the e-commerce industry, further boosting the market's growth in this region. These factors collectively position Asia Pacific as the dominant and fastest-growing region in the flexible packaging market.

Competitive Landscape

• Amcor plc
• Mondi Group
• Huhtamaki Flexible Packaging
• Sonoco Products Company
• Sealed Air
• DS Smith
• Berry Global
• Constantia Flexibles
• Bemis Manufacturing Company
• UkrMetal
• ProAmpac
• Wipak Group
• FlexPak Services
• Transcontinental Inc.
• Coveris Holdings
• American Packaging Corporation
• InterFlex Group
• FLEX-PACK ENGINEERING, INC.
• Innovia Films
• Cosmo Films
• Novolex
• Sigma Plastics Group
• Graphic Packaging International, LLC
• Bischof+Klein SE & Co. KG
• Südpack

Recent Developments

• In May 2024, Amcor and AVON have jointly launched the AmPrima Plus refill pouch for AVON's Little Black Dress classic shower gels in China. This recyclable packaging will reduce the carbon footprint by 83%, and decrease water consumption and renewable energy use by 88% and 79% respectively when recycled.

• In August 2023, Amcor has acquired Phoenix Flexibles, located in Gujarat, India, which generates approximately USD 20 million annually from the sale of flexible packaging used in food, home care, and personal care applications. This acquisition enhances Amcor's capacity in the Indian market and includes advanced film technology, enabling local production of a wider range of sustainable packaging solutions. It also expands Amcor's product portfolio into lucrative high-value segments.

Reasons to Acquire

• Increase your understanding of the market for identifying the most suitable strategies and decisions based on sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors.
• Gain authentic and granular data access for the Flexible Packaging Market to understand the trends and the factors involved in changing market situations.
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.

Report Scope