Global Flexible Packaging Market Is Likely To Grow At A CAGR Value Of Around 4.3% By 2028

The global flexible packaging market was worth around USD 160.1 billion in 2021 and is estimated to grow to about USD 206.1 billion by 2028, with a compound annual growth rate (CAGR) of approximately 4.3 percent over the forecast period. The report analyzes the digital remittance market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the digital remittance market.

Owing to rapid innovations and changing demands for packaging across the world, the flexible packaging market has emerged as a lucrative market for packaging companies. Changing packaging preferences on a global scale and increasing demand for novel solutions are two major factors that influence flexible packaging market growth through 2028.

Increasing focus on sustainable packaging, rising research & development activity in the packaging industry, increasing disposable income, the growing popularity of online sales channels, and increasing e-commerce activity are some major trends that govern the flexible packaging market over the forecast period.

Increasingly stringent regulations against the use of plastic in packaging are expected to emerge as a major challenge to the flexible packaging market growth over the forecast period. Flexible packaging companies are expected to face new challenges as more countries impose strict laws against the use of plastics in packaging.

The flexible packaging market growth can be boosted by capitalizing on the trend of sustainable packaging that has taken over the world. Consumers across the world ate more aware of the environment than ever and the demand for sustainable products is higher than ever before, this is expected to have a major impact on the flexible packaging market that could positively boost growth by the end of the forecast period.  

Moreover, the lack of proper recycling infrastructure could negatively impact flexible packaging adoption on a global scale and act as a major restraint to the flexible packaging market through 2028. The increasing focus on waste management and strict laws against the use of plastics is also expected to slow down the flexible packaging market growth over the forecast period.

The COVID-19 pandemic toppled multiple markets and the flexible packaging market was one of them, this led to a major decline in sales of flexible packaging across the world. Shuttering of multiple sales and distribution channels had a negative impact on demand for flexible packaging in the pandemic and this subsequently created a loss situation for multiple flexible packaging companies in this era. However, the flexible packaging market is predicted to perform well in the post-pandemic era as the world returns to normal and production of goods and flexible packaging capacity returns to normal.

Browse the full “Flexible Packaging Market By Type (Bags, Wraps, Pouches, Rollstock, Others (Include Labels, Stick Packs And Sachets)), By Material (Plastic, Aluminum Foil, Others (Include Coating, Ink, Coating, And Adhesive)), By Technology (Flexography, Rotogravure, Digital Printing, Others (Include Screen, Offset, And Letterpress Printing)), By Application (Food, Beverage, Pharma & Health Care, Personal Care & Cosmetics, Others (Includes Consumer Goods, Oil & Lubricants, Agriculture, Automotive, Household Products, Tobacco, And Sporting Goods)), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028.” Report at https://www.zionmarketresearch.com/report/flexible-packaging-market

The global flexible packaging market is segregated based on type, material, technology, application, and region. Based on application, the global market is distinguished into food, beverage, pharma & health care, personal care & cosmetics, others (including consumer goods, oil & lubricants, agriculture, automotive, household products, tobacco, and sporting goods). The food and beverages segments are expected to continue to be the most lucrative application for flexible packaging market growth owing to the rising consumption of food and beverages by the growing population of the world.

Owing to rising disposable income, the Asia Pacific region is expected to see a bright outlook over the forecast period with China and India being the most prominent markets in this region. Rising sales of products, increasing e-commerce activity, the presence of key flexible packaging manufacturers, and rapid industrialization are some of the major factors that govern the flexible packaging market in this region. Europe is also expected to hold a significant market share as demand from the pharmaceutical sector sees a substantial increase through 2028.

Key players functioning in the global flexible packaging market include Sealed Air Corporation (US), Amcor (Australia), Berry Global Inc. (US), Mondi (South Africa), Sonoco (US), Huhtamaki (Finland), Coveris (Austria), Transcontinental Inc. (Canada), and Clondalkin Group (The Netherlands).

Recent developments:

• In February 2022, Uflex an Indian leader in flexible packaging solutions announced the launch of its new line of products. The new line of packaging solutions are sustainable and eco-friendly and are free from CO2 emissions and offers solutions for multiple end use industry verticals.

Global flexible packaging market is segmented as follows:

By Type

• Bags
• Wraps
• Pouches
• Rollstock
• Others (include Labels, stick packs and sachets)

By Material

• Plastic
• Aluminum Foil
• Others (Include Coating, Ink, Coating, And Adhesive)

By Technology

• Flexography
• Rotogravure
• Digital Printing
• Others (Include Screen, Offset, And Letterpress Printing)

By Application

• Food
• Beverage
• Pharma & Health Care
• Personal Care & Cosmetics
• Others (Includes Consumer Goods, Oil & Lubricants, Agriculture, Automotive, Household Products, Tobacco, And Sporting Goods)

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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