The
global Flexible Packaging Market size is expected to
reach USD 373.3 billion by 2030, according to a new report by Grand View
Research, Inc. The market is expected to expand at a CAGR of 4.5% from 2022 to
2030. Growing consumer driven demand for packaged food and beverage products
owing to its convenience and ease of consumption is expected to drive market
growth.
Flexible
packaging products are lightweight, take less space in transportation, are
cheaper to manufacture, and use less plastic, thus present more environmentally
friendly profile than rigid products. Increasing emphasis on use of sustainable
packaging products globally is expected to bolster the demand for flexible
packaging products during the forecast period.
The
global cosmetic and personal care industry is characterized by the growing
awareness pertaining to health and wellness coupled with increasing demand for
natural, chemical-free, and organic products. Thus, rising green consciousness
are expected to drive the demand for organic and natural skincare products over
the forecast period, which, in turn, is anticipated to boost the demand for
flexible packaging solution such as plastic tubes and pouches.
Growing
demand for cost effective shipping of commodities is expected to augment growth
of flexible packaging products such as flexitanks over the forecast period.
Moreover, increase in trade activities in countries of Asia Pacific is expected
to drive market growth in the region over the forecast period.
Related Press
Release@ Flexible Packaging Market Report
Flexible Packaging Market Report Highlights
- Plastics
dominated the flexible packaging industry with share of 70.1% in 2021
owing to the property of the material for being modified by
co-polymerization to match exact packaging requirements of various
products along with easy availability and cost effectiveness
- The food and
beverages application segment dominated the market and accounted for
revenue share of 56.0% in 2021 as these packaging solution offer easy
transportation, convenient storage, and disposal for food and beverage
products. Growing consumption of snacks like chips, sausages, and bread,
coupled with the expanding food retail industry and new product launches
in emerging markets, is expected to increase the demand for flexible
packaging
- The
bioplastic raw material segment is expected to witness the highest CAGR of
6.0% during the forecast period. Prevalence of stringent government
regulations particularly in North America and Europe is expected to
positively impact the demand for environment friendly material, thus
segmenting the growth for the segment
- Asia Pacific
accounted for highest market share in 2021 and is also expected to
progress at the highest CAGR over the forecast period owing to high growth
in the application industries. In China and India, the food and beverage
industry is expected to grow due to population growth, rising disposable
incomes, and rapid urbanization, thus benefitting the sales for flexible
packaging in the region
- Key
companies are increasingly offering custom packaging solutions to end-use
companies; besides, key companies are increasingly focusing on the use of
recycled materials as they offer complete sustainability. New product
developments, with mergers and acquisitions, and expansion of production
capacity are some of the strategies adopted by players
About Us:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
