Flexible Plastic Packaging Market Overview Analysis, Trends, Growth, and Global Forecast till 2028
The global flexible plastic packaging market size is expected to reach USD 225.04 Billion in 2028 and register a revenue CAGR of 4.3% over the forecast period, according to a latest report by Reports and Data. Rising disposable income of consumers in developing countries is resulting in high demand for convenience products, including stand-up pouches, processed and pre-packaged foods, and flexible plastic films, which in turn, is expected to drive market revenue growth. Growing demand for flexible and convenient packaging solutions among food and beverage companies is also expected to drive market growth during the forecast period.
Food brands are increasingly adopting Flexible
Packaging solutions for more types of Consumer Packaged Goods (CPG). Advantages
offered by Flexible Packaging solutions are becoming more widely recognized
across various industries which include cost savings and marketing
adaptability. In countries such as the U.S., demand for flexible packaging is
expected to rise 3.2% per year in 2021. The ability of Flexible Packaging
solutions to offer a broad range of protective properties, while minimizing
materials and costs is resulting in increasing demand across a wide range of
end-use industries.
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Competitive Outlook:
This section of
the report performs a thorough investigation into the intensely competitive
landscape of the global Flexible
Packaging Market,
highlighting the leading manufacturers, strategic initiatives adopted by them,
the existing growth prospects, market positions, and market shares held by each
participant. The report further
emphasizes the developmental strategies undertaken by these companies,
including product innovation, new product launches, and technological
upgradation. Moreover, the report studies the notable business events observed
in this industry, such as mergers & acquisitions, joint ventures,
partnerships, corporate deals, and brand promotions.
Key
companies operating in the market and profiled in the report include:
· Berry
Global, Inc
· Amcor
plc
· Mondi
plc
· Constantia
Flexibles
· Sonoco
Products Company
· Sealed
Air Corporation
· Huhtamäki
Oyj
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Some Key Highlights in the Report
- In
April 2019, Amcor launched unique, recyclable, high-barrier flexible
packaging that can reduce a pack’s carbon footprint by up to 64%. AmLite
Ultra Recyclable launched by Amcor is its first packaging product made
from the company’s revolutionary, more sustainable high-barrier polyolefin
film. The new high barrier laminate can package a range of food, home and
personal care, and pharmaceutical products, and also be recycled in
existing polyolefin recycling streams. AmLite Ultra Recyclable is the
latest addition to the successful AmLite product line of Amcor, which was
created in 2015 to provide metal-free barrier packaging that significantly
reduced the packaging’s carbon footprint.
- Polyethylene
segment is expected to account for largest revenue share in the global Flexible
Packaging market over the forecast period, owing to its enhanced
durability and excellent rigidity. Polyethylene offers excellent rigidity
in comparison to other forms of plastic and help in maintaining a firm
protective structure, as well as exhibits excellent moisture resistant
properties. Moreover, enhanced durability and resistance to external
influences offered by polyethylene in order to ensure the content is
well-preserved is boosting its application for the manufacturing of Flexible
Packaging solutions.
- Stand-up
pouches segment is expected to register significant revenue growth over
the forecast period. Growing interest of consumers in efficiency and waste
reduction is resulting in increasing popularity of stand-up pouches, which
is one of the most convenient and flexible packaging solutions. Potential
benefits of stand-up pouches include resealability, transparency,
recyclability, durability, and the need for less material, which is
resulting in its increasing demand.
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Segments Covered in the report
Material Outlook (Revenue, USD Billion;
2018-2028)
- Polyethylene
- Polypropylene
- Polyamine
- Polyvinyl chloride
- Polystyrene
- Others
Type Outlook (Revenue, USD Billion;
2018-2028)
- Stand-up Pouches
- Flat Pouches
- Rollstocks
- Others
Application Outlook (Revenue, USD Billion;
2018-2028)
- Food & Beverage
- Healthcare
- Personal Care
- Others
Regional Outlook (Revenue, USD Billion;
2018-2028)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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