The global flexible packaging market size is estimated to grow from USD 283 billion in 2022 at 4.7% CAGR (2023-2032) to reach an expected USD 445.82 billion by 2032.
Unlock Infinite Advantages: Subscribe to Annual Membership
Flexible packaging is a rapidly expanding sector within the packaging industry, offering enhanced value and market appeal for food and non-food items. It leverages the advantageous attributes of plastic, film, paper, and aluminum foil, synergistically providing a wide array of protective features while minimizing material usage.
The food and beverages segment has historically held a significant market share, accounting for approximately 56%. This can be attributed to the widespread adoption of flexible packaging for storing and transporting food and beverages, which is expected to drive the segment’s growth during the forecast period. The nonfragile and lightweight nature of flexible packaging has been instrumental in its market expansion, making it a cost-effective alternative to rigid packaging.
Download White Paper: https://www.towardspackaging.com/personalized-scope/5057
The COVID-19 pandemic has had varied impact on the flexible plastic packaging market. Initially, the market encountered challenges such as supply chain disruptions and temporary factory closures due to stringent global lockdown regulations. However, the global market has experienced a consistent demand for flexible packaging due to the worldwide surge in online food and grocery shopping. Additionally, the demand for packaged food and beverages has increased due to pandemic-related restrictions and the need to sustain market stability.
Manufacturers in the flexible plastic packaging industry have taken necessary precautions to address the increased demand for packaging solutions. One notable example is ProAmpac, a prominent global provider of flexible packaging solutions. It ensured that all its facilities remained operational to sustain its customer base and fulfil their requirements throughout the pandemic. ProAmpac prioritized manufacturing packaging products while minimizing disruptions and adhering to the regulations imposed due to the pandemic. As pandemic-related restrictions are gradually eased in recent years, the flexible plastic packaging market is anticipated to experience substantial growth.
Get the latest insights on packaging industry segmentation with our Annual Membership – https://www.towardspackaging.com/get-an-annual-membership
Implementing new regulatory initiatives by governments worldwide has created a compelling impetus for plastic packaging manufacturers to explore innovative packaging solutions and drive the growth of the packaging industry.
Manufacturers are increasingly recognizing the importance of sustainable packaging solutions as a means to reduce costs and ensure the preservation of product integrity. Sustainable packaging options are characterized by using fewer materials, resulting in cost savings and environmental benefits. Furthermore, these solutions reduce transportation expenses and enable extended shelf-life for packaged products, enhancing customer satisfaction and minimizing waste.
Flexible packaging plays a crucial role in enhancing brand value and meeting consumer expectations. It aligns with the needs and preferences of tomorrow’s consumers, proving to be a valuable asset for businesses.
Recent surveys reveal that about 60% of consumers are prepared to spend more for packaging that offers practical benefits. Key attributes that consumers value include:
A recent survey highlights that younger consumers, particularly those aged 18-34, place a high value on convenient packaging attributes. The most important features, which over 60% of consumers rate as “very important,” “extremely important,” or “absolutely essential,” include:
The competitive landscape analysis of the flexible packaging market provides a comprehensive overview of the key players in the industry. It includes detailed information such as company profiles, financial performance, revenue generation, market potential, research and development investments, new market initiatives, global presence, production facilities, and capacities, as well as strengths and weaknesses of each company. Additionally, the analysis covers product launches, the breadth and depth of product offerings, and dominance in specific applications within the flexible packaging market. It is important to note that the data provided pertains specifically to the companies’ activities and strategies within the context of the flexible packaging market.
Some of the key players operating in the flexible packaging market are Amcor plc (Switzerland), Mondi (U.K.), Sonoco Products Company (U.S.), Sealed Air (U.S.), Huhtamaki (Finland), Transcontinental Inc (Canada)., Cosmo Films Ltd (India), Polyplex (India), UFlex Limited (India), Jindal Poly Films (India), CLONDALKIN GROUP (Netherlands), Constantia Flexibles (Austria), TAGHLEEF INDUSTRIES GROUP (UAE), DUNMORE (U.S.), Celplast Metallized Product (Canada), Ultimet Films Ltd (U.S.), Accrued Plastic Ltd (U.K.), All Foils, Inc. (U.S.), SRF Limited (India).
Own your copy of our reach study and stay informed: https://www.towardspackaging.com/price/5057
If you have any questions, please feel free to contact us at sales@towardspackaging.com
About Us
Towards Packaging is a leading global consulting firm specializing in providing comprehensive and strategic research solutions. With a highly skilled and experienced consultant team, we offer a wide range of services designed to empower businesses with valuable insights and actionable recommendations. We stay abreast of the latest industry trends and emerging markets to provide our clients with an unrivalled understanding of their respective sectors. We adhere to rigorous research methodologies, combining primary and secondary research to ensure accuracy and reliability. Our data-driven approach and advanced analytics enable us to unearth actionable insights and make informed recommendations. We are committed to delivering excellence in all our endeavours. Our dedication to quality and continuous improvement has earned us the trust and loyalty of clients worldwide.
Browse our Brand-New Journal:
https://www.towardshealthcare.com
https://www.towardsautomotive.com
For Latest Update Follow Us: https://www.linkedin.com/company/towards-packaging/
Get Our Freshly Printed Chronicle: https://www.packagingwebwire.com/
Global Cannabis Packaging Market Trends, Insights, and Growth Projections The global cannabis packaging market was…
Clinical Trial Packaging Market Regional Growth Insights The global clinical trial packaging market was valued…
Panel-Level Packaging Market Insights Companies, Trends, and Growth Forecast The global panel-level packaging market is…
Hazardous Goods Packaging Market: Growth Outlook (2024-2034) The global hazardous goods packaging market was valued…
Rigid Tray Market Overview Size, Share, and Trends The global rigid tray market was valued…
Cider Packaging Industry Growth and Outlook The global cider packaging industry is projected to grow…