Flexible Plastic Packaging Market Research Report - Global Forecast to 2030

Flexible Plastic Packaging Market, By Type (Stand-Up Pouches, Flat Pouches, Gusseted, Bags and Others), By Printing Technology (Flexography, Digital Printing and Others), By Application (Food & Beverages, Pharmaceuticals, Personal Care and others) and Region - Forecast to 2030

ID: MRFR/PNT/3417-HCR | February 2021 | Region: Global | 110 pages         

Flexible Plastic Packaging Market

Flexible Plastic Packaging Market is projected to be worth USD 390 billion by 2028, registering a CAGR of 5.5% during the forecast period (2022 - 2028).

Segmentation

By Type Stand-Up Pouches Flat Pouches Gusseted Bags Others
By Printing Technology Flexography Digital Printing Others
By Application Food & Beverages Pharmaceuticals Personal Care others

Key Players

  • Covestro AG (Germany)
  • BASF SE (Germany)
  • The Dow Chemical Company (U.S.)
  • Huntsman International LLC (U.S.)
  • Kao Corporation (Japan)
  • Tosoh Corporation (Japan)
  • Polychemie Asia Pacific Permai (Indonesia)
  • Suzhou Xiangyuan Special Fine Chemical Co.
  • Ltd (China)
  • Evonik Industries AG (Germany)
  • Gulbrasnson Chemical Pvt. Ltd. (India).

Drivers

  • Growing demand for flexible foam from automotive
  • and electronic applications
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Flexible Plastic Packaging Market overview:


Plastic packaging is intensively used in almost every business and industrial vertical primarily due to the cutting edge technology and the way it is flexible for innovative packaging solutions. The flexible plastic packaging is utilized in the production of fragile, and difficult to carry or transit goods as the plastic materials offer higher support during the transit. The cost-effectiveness and durability of the plastic material help in the protection of goods from issues such as breakage, spoilage, or contamination. 


 


The food and beverage industries are intensively using flexible plastic packaging owing to the increased shelf life of the food particles. Moreover, the customer goods are packed in flexible plastic packaging for their convenience and malleability. In recent times, flexible plastic packaging solutions are preferred in the form of pouches for various end-users. The lightweight and convenient packaging, especially in the form of pouches is driving the overall growth of the flexible plastic packaging industry in recent years.


 


COVID 19 Analysis:


 


The COVID 19 pandemic has severely impacted the growth of several industry verticals and manufacturing units. The packaging industry has also faced a slowdown in their business growth throughout the pandemic as the demand for consumer goods and electronics have been declining. However, on the other hand, the demand for the food industry and staples were increasing during the pandemic. A huge population was stocking their pantries in the fear of lockdowns, which has fuelled the demand for the flexible plastic packaging industry. Also, the risk of food wastage has aided the growth of the flexible plastic packaging industry in the retail and food industry. Such factors have balanced out the declination from the other end-user industries. 


 


Moreover, the demand for drugs, medical supplies, and medicines was increasing due to the increasing COVID cases across the globe. As medicinal products require efficient packaging, the demand for flexible plastic packaging has stirred up amid the pandemic.


 


Market dynamics:


 


Market drivers:


 


The increasing demand from the food and beverage industry, pharmaceutical industry, and the increasing momentum of the stand-up pouches, as they are extremely functional among the other options and are used for varied end-user industries are driving the flexible plastic packaging market growth. Moreover, the increasing demands for over counter pharmaceutical products are also driving the flexible plastic packaging market growth. 


 


The food and beverage industry which is considered as the major consumer of the flexible plastic packaging industry uses the packaging because of the diverse availability of the materials used. Raw materials such as polyethylene, PVC, BOPET, EVOH are intensively used as they provide higher visibility of the products and prevent oxidation in the case of food, thereby increasing the shelf life as well. Such beneficiary features are considered as the major drivers of flexible plastic packaging market growth.


 


Market opportunities:


 


The increasing investment in the packaging industry by the established market players is rapidly increasing the innovations in the flexible plastic packaging industry. The demand for efficient packaging across the industrial verticals has propelled the manufacturers to bring in innovations in the flexible plastic packaging industry. Such factors are presenting lucrative opportunities for the overall growth of the flexible plastic packaging industry. 


 


The increasing adaptation of the regulations related to environmental concerns and eco-friendly products are increasing the consumption of flexible packages among the industrial sectors. Moreover, the flexibility of plastics enables the manufacturers to cater to the various demands of the various end-users. Such factors are expected to increase the overall growth of the flexible plastic packaging industry during the forecast period.


 


Market restraints:


 


The poor infrastructure and the improper standards for the recycling of these flexible plastic packaging are hindering the overall growth of the flexible plastic packaging industry. As recycling consumes more time and energy than required for the production of the original packaging itself, the recycling procedures were often not carried out which tends to affect the environment. 


 


The displeasing features of the plastics such as poor longevity, absorption of smell, health, and environmental impacts are affecting the growth of the flexible plastic packaging industry.


 


Market challenges:


 


The investments in sustainable packaging and environmentally friendly packaging are affecting the growth of the flexible plastic packaging industry. 


 


The reports from the organizations such as the World Economic Forum, which stated that about 8 million tons of plastic gets into the ocean and affects the marine ecosystem which is expected to increase in the rate of 4 garbage truck full of plastic waste dumped into the ocean every minute by the year 2050 which could potentially destroy the marine ecosystem. Such factors are considered as the major challenge for the overall growth of the flexible plastic packaging industry. 


 


Cumulative growth analysis:


 


The global flexible plastic packaging market size is expected to grow from USD 160.8 billion in 2020 to USD 200.5 billion by the year 2025 while registering a CAGR of 4.5% during the forecast period. The increasing demand in end-use industries, such as food, beverage, cosmetic & personal care, and pharmaceutical are driving the overall growth of the flexible plastic packaging industry. 


 


Moreover, the support from the various governmental organizations is fuelling the overall growth of the flexible plastic packaging industry. For instance, in the year 2018, the UK government has invested over USD 80 million for the growth of the sustainable packaging industry as an initiative to reduce the environmental impact. Such factors have affected the growth of the flexible plastic packaging industry. 


 


Value chain analysis:


 


The demand for convenient packaging is highly influenced by the growth of convenient products. The busy urban lifestyle and the increasing employment rate across the developed regions are fuelling the demand for convenient products and packaging. Therefore the flexible plastic packaging market growth been rapidly gained momentum in recent years due to the changing preferences of the consumers. Moreover, flexible plastic packaging requires very minimal resources and energy from the manufacturing sector and occupies less than 35% space when compared to other packaging options. Such beneficiary factors and characteristics of the flexible plastic packaging are propelling the manufacturers and end-users to increase support the flexible plastic packaging market growth. 


 


A report from a reputed flexible packaging association states that it requires 87% lesser coal and 74% lesser natural gas for the production of flexible plastic packaging than that is required to manufacture the clamshell packaging options. Such factors are considered as the major drivers of flexible plastic packaging market growth. Additionally, the food industry is intensively utilizing flexible plastic packaging options as they are efficient in increasing the shelf life. Therefore the fresh produce is stored and shipped in the flexible plastic packaging options. 


Global Flexible Plastic Packaging Market: SegmentationFlexible Plastic Packaging market


Segment overview:


 


Based on Type:


 



  • Bags

  • Wraps

  • Pouches

  • Rollstock

  • Labels

  • Stick packs

  • Sachets 


 


Based on Material:


 



  • Plastic

  • Aluminum Foil

  • Coating, ink

  • Coating

  • adhesive


 


Based on technology:


 



  • Flexography

  • Rotogravure

  • Digital Printing

  • Screen

  • Offset

  • Letterpress printing


 


Based on Application:


 



  • Food

  • Beverage

  • Pharma & Health Care

  • Personal Care & Cosmetics

  • Consumer Goods

  • Oil & Lubricants

  • Agriculture

  • Automotive

  • Household Products

  • Tobacco

  • Sporting Goods


 


Regional analysis:


 


Asia-pacific region is expected to hold the largest flexible plastic packaging market share during the forecast period owing to the presence of several manufacturing industries and the growing food and beverage industry. Moreover, the factors such as the increasing working population, increasing inclination towards packaged food and beverages across the region are further fuelling the overall growth of the flexible plastic packaging industry. 


Moreover the demand for the major end-user industries such as food and beverages, pharmaceutical, personal care, and cosmetic industries in the Asia-pacific region are stimulating the overall growth of the flexible plastic packaging industry.


 


Competitive landscape:


 



  • Sealed Air Corporation (US)

  • Amcor (Australia)

  • Berry Global Inc. (US)

  • Mondi (South Africa)

  • Sonoco (US)

  • Huhtamaki (Finland)

  • Coveris (Austria)

  • Transcontinental Inc. (Canada)

  • Clondalkin Group (The Netherlands).


 


Recent developments:


 


In the year 2020, one of the leading market players, Berry Global Group Inc. has declared their collaboration with a leading supplier of recycled plastic, Mondelez International. This collaboration was intended to expand their business process with the help of advanced recycling technology and recycled plastic materials.


 


In the year 2020, one of the leading market players, Berry Global Group has declared their investment of over USD 30 million to expand their production capacity. The company is known for the flexible plastic packaging that features ultra-high performance in terms of packaging. Therefore it is considered to be more suitable to cater to the demand across North America. 


 


Report overview:


 


This report has covered:



  • Market overview

  • COVID 19 Analysis

  • Market dynamics

  • Cumulative growth analysis

  • Value chain analysis

  • Segment overview

  • Regional analysis

  • Competitive landscape

  • Recent developments


 


Segmentation Table:


 


Based on Type:


 



  • Bags

  • Wraps

  • Pouches

  • Rollstock

  • Labels

  • Stick packs

  • Sachets 


 


Based on Material:


 



  • Plastic

  • Aluminum Foil

  • Coating, ink

  • Coating

  • adhesive


 


Based on technology:


 



  • Flexography

  • Rotogravure

  • Digital Printing

  • Screen

  • Offset

  • Letterpress printing


 


Based on Application:


 



  • Food

  • Beverage

  • Pharma & Health Care

  • Personal Care & Cosmetics

  • Consumer Goods

  • Oil & Lubricants

  • Agriculture

  • Automotive

  • Household Products

  • Tobacco

  • Sporting Goods



Report Scope:
Report Attribute/Metric Details
  Market Size

  • 2023: USD 129 Billion
  • 2030 : Significant value
  •   CAGR   5.2% CAGR (2022 to 2030)
      Base Year   2021
      Forecast Period   2022 to 2030
      Historical Data   2019 & 2020
      Forecast Units   Value (USD Billion)
      Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
      Segments Covered   Type, Printing Technology, Application
      Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
      Key Vendors   Amcor Limited(Victoria), Constantia Flexibles Group GmbH (Austria), Mondi Group (Johannesburg), Sealed Air Corporation (North Carolina), Sonoco Products Company (U.S.), Coveris Holdings S.A. (U.S.), Huhtamaki Group (Finland), Bemis Company Inc. (U.S.) and Ampac Holdings LLC (U.S.)
      Key Market Opportunities   Developing countries increases the purchasing power
      Key Market Drivers

  • Increased consumption of processed foods & beverages
  • Innovation in flexible packaging
  • Environmental advantage of flexible plastic packaging


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    Frequently Asked Questions (FAQ) :

    The market value of the flexible plastic packaging industry was at USD 160.8 billion in the year 2020 and it is expected to surpass the market value of over USD 200.5 billion by the year 2025 while registering a CAGR of 4.5% during the forecast period.

    • Sealed Air Corporation (US) • Amcor (Australia) • Berry Global Inc. (US) • Mondi (South Africa) • Sonoco (US) • Huhtamaki (Finland) • Coveris (Austria)

    • Food • Beverage • Pharma & Health Care • Personal Care & Cosmetics • Consumer Goods • Oil & Lubricants • Agriculture • Automotive • Household Products • Tobacco • Sporting Goods

    • Flexography • Rotogravure • Digital Printing • Screen • Offset • Letterpress printing