Global Flexible Packaging Market By Raw Material (Plastic, Paper, Aluminium, and Bioplastics), By Application (Food & Beverages, Pharmaceutical, Cosmetics, and Other Applications), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Report Overview:

The flexible packaging market size is expected to be worth around USD 4.13 Billion by 2032 from USD 2.22 Billion in 2021, growing at a CAGR of 5.8% during the forecast period from 2022 to 2032. The industry’s growth is expected to be positive due to rising food needs in the Asia Pacific, especially in India and China.

Flexible packaging companies use bioplastics as a key raw material. The demand for bio-based PLA film in food, confectionery, bakery, and snack packaging is expected to grow over the next seven years. This is due to its easy recyclability as well as its biodegradable nature.

Global Flexible Packaging Market Scope:

Raw Material Analysis

Flexible packaging is dominated by plastic, accounting for 73.3% of the total revenue share for 2021. Because of their high market potential, they are highly desirable because they have low shipping costs and require less storage. They are widely used in the food and beverage industry because they come in many forms and shapes. This is a major advantage for the industry.

Due to stricter regulations regarding plastic use, the demand for bioplastics will increase in the coming years. Biocompatible materials have increased the use of bioplastics in many end-use industries such as food and beverage, cosmetics, and other products. The segment is expected to grow due to the need to reduce plastic packaging waste.

The growing demand for bio-based PLA film in food, confectionery, bakery, and snack packaging will drive up demand. Due to strict policies, flexible plastic packaging is widely used in the food and beverage and pharmaceutical industries, especially in North America and Europe.

The forecast period will see significant demand for aluminum materials. The segment is expected to grow due to the increasing use of aluminum foil for household and food & drink applications. The market also benefits from the acceptance of international standards that allow for product certification and testing.

Application Analysis

Food & beverage was the largest segment accounting for 76.7% of global revenue share in 2021. The forecast period will increase demand for packaged food, including ready-to-eat meals, frozen meals, and cake mixes.

Industry demand is expected to rise due to the rising popularity of nutrient enrichment and the European Commission’s support for regulating flexible packaging in food applications at the domestic level. Demand will rise shortly due to increased R&D spending in Europe and the presence of key manufacturers.

In 2021, the pharmaceutical industry accounted significant flexible packaging market share. The segment will gain momentum in the future due to technological advancements and increasing consumer awareness in emerging countries like Brazil, China, India, and China.

Over the next six years, the cosmetics market is expected to experience the most rapid growth. This is due to consumers’ busy lifestyles and increasing awareness about hygiene and health, especially in emerging markets like China and India. Flexible packaging is used in cosmetic manufacturing to prevent moisture entry.

Маrkеt Ѕеgmеntѕ:

By Raw Material

• Plastic
• Paper
• Aluminum
• Bioplastics

By Application

• Food & Beverages
• Pharmaceutical
• Cosmetics
• Other Applications

Market Dynamics:

Consumers in the U.S. prefer lightweight packaging that is visually appealing. The forecast period will see a rise in the use of the flexible plastic packaging industry. In the next six years, technological developments like plastic-based flexible pouches or sachets are expected to open up new production opportunities in various industries.

Flexible packaging market growth will be limited by strict regulations regarding food contact applications, particularly in North America and Europe. Demand will be driven by efforts to develop bio-based packaging products and stringent regulations to encourage their use in flexible packaging.

The food and processing industry has seen a revolution in the last few years due to the advancement of science and nanotechnology. The field of food preservation, packaging food products, and nanotechnology is on the cusp of becoming mainstream. The first commercial application of nanotechnology to the food industry is in packaging.

The rising living standards in emerging economies like Brazil, South Africa, and Russia positively impact consumers’ purchasing power, fueling the demand for quality products. Flexible packaging will be in demand due to the changing lifestyles of consumers and increased demand for eco-friendly packaging materials.

Regional Analysis:

The Asia Pacific accounted for 38.9% revenue share in 2021, making it the largest regional market. The growing regional market can be attributed to India and China’s thriving food, beverage, and food retail sectors. Flexible packaging will be in demand due to rising disposable income and increasing demand for packaged foods.

Europe accounted for 29.8% of the total revenue share with a 3.1% CAGR in 2021. Over the next six years, flexible packaging demand will be fueled indirectly by increased R&D spending in Europe’s pharmaceutical industry. Over the forecast period, there will be a positive effect from rising personal care product demand in Germany and France.

North America has seen the elimination of Mexican regulations restricting the establishment of new manufacturing units. This has led to the construction of new facilities such as Daiichi Ranbaxy, Takeda, and Astellas. This government strategy has been a key driver of the domestic pharmaceutical industry. It is expected to drive product demand during the forecast period.

Over the forecast period, Middle East & Africa will grow significantly. The projected growth factor of the flexible packaging solution industry will be influenced by the Middle East’s rising health spending and government support.

Кеу Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Key Players Analysis:

Mondi, Bemis Company Inc., Amcor Limited, Huhtamaki Group, and BASF SE are some key players involved in the production. Due to low production and labor costs, most major companies will shift their manufacturing base to developing nations like India and China.

To gain a competitive edge, key manufacturers engage in R&D. Forward integration is key to the market’s success. This includes flexible packaging products and raw material manufacturing. Distribution to different industries is also a major part of the market. Farnell Packaging Limited, LPS Industries, and LPS Industries are integrated players offering plastic and paper packaging materials within their product portfolio. The following are some of the major players in global ANPR systems Markets:

Маrkеt Кеу Рlауеrѕ:

• Bemis Company Inc.
• Mondi
• Berry Global inc.
• Huhtamaki Group
• Amcor Limited
• Transcontinental inc.
• BASF SE
• Amcor plc
• Ѕоnосо Products Соmраnу
• Sealed Air Corporation
• Соvеrіѕ Holdings Ѕ.А.
• Other Key Players

For the Flexible Packaging Market research study, the following years have been considered to estimate the market size: