The global flexible packaging market size will value $149.3 billion by 2030, according to a new report by GlobalData Plc. The increasing demand for flexible packaging, especially across food & beverage sector, is primarily contributing to the market growth. Growing environmental consciousness led to a shift towards sustainable packaging solutions. Additionally, continuous efforts for proper packaging waste management resulted in an increasing usage of recycled and recyclable material across flexible packaging types. These factors are anticipated to propel the market expansion in the projected timeframe.
Global Flexible Packaging Market Size, By Application, 2020 – 2030
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Flexible Packaging Market FAQs
The flexible packaging market size globally is estimated to be $149.3 billion by 2030.
The global flexible packaging market is expected to grow at a volume CAGR of 4.1% during the forecast period (2023-2030).
The increasing focus on environmental consciousness and the transition towards sustainable packaging is expected to support the expansion of the flexible packaging market during the forecast period.
Packaging Type Segments: Bag/Sachet, Film, Foil, Pouch, Tube, Wrappers, Others
Material Type Segment: Plastic, Paper, Metal
Application Segments: Food, Cosmetics & Toiletries, Non-alcoholic Beverages, Household Care, Pet Care, Others (Tobacco and Tobacco Products, Baby Care, Alcoholic Beverages)
The leading flexible packaging companies are Mondi Plc, Amcor Plc, International Paper Co, Sealed Air Corp, Uflex Ltd, Huhtamaki Oyj, Fuji Seal International Inc, Winpak Ltd, Berry Global Group Inc, DS Smith Plc, Smurfit Kappa Group Plc, Westrock Co, Sonoco Products Co., Ball Corp, Crown Holdings Inc, Coveris Holdings SA, Rengo Co Ltd, Mayr-Melnhof Karton AG, Graphic Packaging Holding Co, and Trioworld Industrier AB.
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Flexible Packaging Market Dynamics
Flexible packaging is one of the prominent sectors in the packaging industry owing to its advantages offered to the end users. Some of the most crucial advantages offered by flexible packaging are their convenience, affordability, wider design options, labeling advantage, sustainability, wider application areas, and technological advancements. The availability of a wider product portfolio that caters to large application areas is a major factor contributing to its demand across the globe.
The increasing consumption of packaged food & beverages along with the boosting demand for cosmetics and toiletries across the globe especially amid growing online purchases and spending power of individuals on personal grooming and anti-aging products to look good or protect skin from external damages. These are some major factors supporting the demand for flexible packaging across the globe.
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Flexible Packaging Market Report Highlights
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Flexible Packaging Market Scope and Segmentation
GlobalData Plc has segmented the flexible packaging market report by packaging type, material type, application, and region:
Global Flexible Packaging, by Packaging Type Outlook (Volume; Millions of pack units, Revenue; US$ Million, 2020-2030)
Global Flexible Packaging, by Material Type Outlook (Volume; Millions of pack units, Revenue; US$ Million, 2020-2030)
Global Flexible Packaging, by Application Outlook (Volume; Millions of pack units, Revenue; US$ Million, 2020-2030)
Flexible Packaging Regional Outlook (Volume; Millions of pack units, Revenue; US$ Million, 2020-2030)
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