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Insights from future market research
In 2021, the market size for flexible packaging was estimated at USD 150.04 billion. From USD 157.40 billion in 2022 to USD 230.78 billion in 2030, the Flexible Packaging Market sector is anticipated to expand at a compound annual growth rate (CAGR) of 4.9%. (2022–2030).
Growing demand for packaged foods, together with flexible packaging’s ease of use and cost-effectiveness, are the main drivers of expansion. The need for flexible packaging is rising as consumers place more emphasis on convenience and sustainability. One of the major reasons propelling the expansion of the flexible packaging industry is the rising customer inclination for convenience goods. Due to busy lifestyles and smaller households, consumer preferences are changing, necessitating items that are easy to open, store, use, carry, and dispose of and that suit their mobile lifestyles. Because of this, product packaging that fits well with contemporary lifestyles is growing in popularity. With handy packaging, a variety of items provide on-the-go possibilities.
Convenient packaging is being utilised for a variety of products outside food and drink, including vitamins, lifestyle products, prescription drugs, and personal care items. Convenient packaging is a top factor in consumer decision-making. By influencing their choice for a specific style or design of packaging, it affects their behaviour. Examples of flexible packaging items that offer the convenience that customers want include boiling-in-the-bag, baking-in-the-carton, mixing-in-the-pouch, and serving-from-the-ray. Companies that produce consumer packaged products are reacting to this need by expanding the selection of portable snacks. Flexible packaging will therefore increasingly be used in a range of end-user sectors, including as food and beverage, pharmaceuticals, and home and personal care, as a result of shifting consumer lifestyles and consumption patterns. Also, the high market penetration of ready-to-eat meals in the nation as a result of a busy lifestyle and a large labour force is anticipated to support the expansion of flexible packaging throughout the course of the projected period. Smoothies, snacks, dairy, and other food products are regularly packaged in flexible packaging. The demand for products is anticipated to increase over the forecast period as a consequence of improvements in food processing methods and shifting consumer lifestyles, which have been driving the packaged food industry. Additionally, the Flexible Packaging Association (FPA) claims that its members have access to a wealth of information through a variety of services and membership perks, such as promotion of the flexible packaging industry, which is done by emphasizing the advantages, contributions, and advantages of the flexible packaging industry and its products through a variety of domestic and international publications, industry trade shows, and industry recognition events and programmes, C.
However cost-effective solutions have made tremendous strides in order to meet the demand. Due to factors including increasing urbanization, hectic work schedules, and the need to arrive on time, consumers are increasingly opting to consume prepared meals that are supplied in flexible packaging and pouches.
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Market Segmentation:
“The Flexible Packaging market is segmented into Plastic, Paper, Aluminium Foil, and Other based on material. Due to its unique qualities, such as flexibility, sustainability, and lightweightness; high economics; ability to be used by all industries regardless of scale of operations; and ease of reuse and recyclability in regards to the Flexible Packaging market revenue, the Plastic segment holds a sizable share of the market. Also, the demand for packaged fast food has grown, which has pushed the acceptance of plastic in 100 packaging. This is due to greater consumer awareness of eco-friendly goods, changing lifestyles, and changing eating patterns.
Also, producers may print eye-catching, top-notch unique graphics on plastic packaging, improving product exposure in a retail environment. Plastic packaging is durable, biodegradable, and can withstand extreme heat and cold without affecting the integrity of the food within. The need for flexible plastic packaging will also be fueled by an expansion in the middle class population and growing income levels.
Pouches, Bags, Wraps, and other products are included in the Flexible Packaging market segmentation based on Product Type. Pouches, which led the market in 2021, is anticipated to increase at a quicker rate over the forecast period of 2022–2030. This is a result of the packaging industry’s anticipated positive market expansion and the growing need for packaging solutions that are lighter and more convenient.
Flexible pouches and bags, which provide unmatched advantages in this area combined with cutting-edge packaging, are increasingly being employed in the cosmetics business, which helps the market’s expansion. Hence, increasing pouch product type implant applications for flexible packaging have a beneficial influence on market expansion.
Flexography, digital printing, and other printing methods are part of the Flexible Packaging market segmentation based on printing technology. Flexography was the market’s largest category in 2021, and it is anticipated to expand at the fastest rate from 2023 to 2030. This is a result of the companies actively advertising a wide range of goods, including food, wine, motor oil, and grass seed.
Thanks to recently discovered abilities to produce high-quality images and graphics, deliver high consistency and repeatability from job to job, and enable quick, cost-effective changeovers that support small-quantity runs, Flex now offers advantages that are highly appealing to both product marketing and purchasing management. It is anticipated that flexographic printing would gain enormous popularity as more market groups begin to profit from it. Hence, expanding uses of flexography printing technology for flexible packaging have a beneficial influence on market expansion.
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Key Players:
Clondalkin Group (Netherlands)
Reynolds (New Zealand)
Berry Inc. (US)
Sealed Air Corporation (US)
Sonoco Products Company (US)
Mondi Group (Austria)
CONSTANTIA (Austria)
Amcor Limited (Australia)
HUHTAMAKI Group (Finland)
Coveris Holdings SA, among others
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Regional Insights for Flexible Packaging
North America, Europe, Asia-Pacific, and the Rest of the World are the regions into which the study divides the market. The market for flexible packaging in Asia-Pacific reached USD 58.51 billion in 2021 and is anticipated to grow at a rate of 2.78% over the course of the research. Due to the expanding organised retail and e-commerce sectors, as well as the simplicity with which raw materials can be obtained, countries in the Asia Pacific region, including China and India, are also anticipated to present prospective development possibilities for market participants.
The demand for packaged food goods is anticipated to increase due to rising consumer buying power in China, India, and Indonesia, which would ultimately fuel market expansion. In addition, the region’s increased consumption of bottled beverages and preference for smaller packs due to their affordability and convenience are likely to increase demand for flexible packaging. More than 46% of Americans are prepared to pay extra for flexible packaging that holds food and drinks due to its environmental profile, according to the Flexible Packaging Association. Additionally, it is anticipated that the region’s product demand would benefit from manufacturers’ growing preference for flexible packaging due to its marketing benefits. The United States, Russia, Germany, China, Japan, India, Australia, South Korea, and other key nations are also included in the study.
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