Global Flexible Plastic Packaging Market size was valued at USD 189.8 Billion in 2024 and is expected to reach USD 293.7 Billion by 2033, at a CAGR of 5.1% during the forecast period 2024 – 2033.
Flexible Plastic Packaging Market: Overview
Flexible plastic packaging offers benefits such as thinness, affordability, longevity, and capacity to extend product shelf life via sealing characteristics that protect against oxygen, moisture, as well as other environmental factors.
Sustainability and recyclability are becoming more and more important in flexible plastic packaging, according to worldwide trends. Environmentally friendly alternatives are being sought by both manufacturers and consumers due to rising concerns about the environment and regulatory efforts to eliminate plastic waste.
Developments in materials and package designs have been spurred by this trend, to make flexible plastic packaging more compostable and recyclable. Packaging solutions comprised of recycled materials or bio-based polymers generated from renewable sources are also in greater demand.
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In addition, businesses are investigating methods like downgauging, lightweight, and package design optimization to cut down on material use and lessen environmental effects along the course of packing. All things considered, the move in the direction of flexible plastic packaging that is more recyclable and sustainable represents a worldwide commitment to combating plastic pollution and developing a circular economy for packaging materials.
By product type, the pouches segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033. Pouch trends include a move toward eco-friendly materials, practical and inventive designs, growing usage in single-serve wrapping, and expansion in the personal care, medicinal products and food and beverage industries.
By packaging type, the vacuum skin packaging segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033. The growing use of environmentally friendly materials and procedures in vacuum skin packaging is a trend that is being pushed by customer demand for eco-friendly packaging options.
By end user, the food & beverages segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033. The deployment of flexible plastic packaging is fueled by rising customer requests for food and beverage simplicity, ecologically, and product distinctiveness; this is pushing trends toward packaging solutions that are reusable, portable, and resealable.
CMI has comprehensively analyzed the Global Flexible Plastic Packaging market. The driving forces, restraints, challenges, opportunities, and key trends have been explained in depth to depict the in-depth scenario of the market. Segment wise market size and market share during the forecast period are duly addressed to portray the probable picture of this Global Flexible Plastic Packaging industry.
The competitive landscape includes key innovators, after market service providers, market giants as well as niche players are studied and analyzed extensively concerning their strengths, weaknesses as well as value addition prospects. In addition, this report covers key players profiling, market shares, mergers and acquisitions, consequent market fragmentation, new trends and dynamics in partnerships.
List of the prominent players in the Flexible Plastic Packaging Market:
- Sigma Plastics Group
- Amcor plc
- FlexPak Services
- Transcontinental Inc.
- Coveris
- DS Smith
- American Packaging Corporation
- InterFlex Group
- FLEX-PACK ENGINEERING INC.
- Innovia Films
- Cosmo Films
- Novolex
- Mondi Group
- Huhtamaki Flexible Packaging
- Sonoco Products Company
- Constantia Flexibles
- Bemis Manufacturing Company
- UKrMetal
- ProAmpac
- Berry Global Inc
- Others
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