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
- What will be the global flexible packaging market size by 2030?
The flexible packaging market size globally is estimated to be $149.3 billion by 2030.
- What is the flexible packaging market growth rate?
The global flexible packaging market is expected to grow at a volume CAGR of 4.1% during the forecast period (2023-2030).
- What is the key flexible packaging market driver?
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.
- What are the key flexible packaging market segments?
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)
- Which are the leading flexible packaging companies globally?
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
- Global flexible packaging market is expected to reach $149.3 billion by 2030 growing by a compound annual growth rate (CAGR) of 4.1% from 2023 to 2030.
- The bag/sachets segment dominates the market in 2022 in terms of volume and revenue. The segment is also anticipated to maintain its leading position throughout the forecast period due to its widespread adoption and recognition in various applications across food, per care, baby care, and others.
- The food segment is anticipated to exhibit a compounded annual growth rate of 2.7% by volume and 4.1% by revenue during the forecast period. This growth is driven by the increasing utilization of flexible packaging for a wide variety of products including bakery and cereals, savory snacks, confectionery, dairy & soy food, pasta & noodles, and others. These efforts are expected to bolster the growth of this segment throughout the forecast period.
- The Asia Pacific held the largest share in terms of volume in 2023. This region is home to significant packaging manufacturers in countries like China and India, which possess advanced infrastructure and technologies for market-ready packaging solutions. These countries play a crucial role in the higher volume and revenue share of flexible packaging across the global market.
- The report examines major companies in the flexible packaging market which include Amcor Plc, Berry Global Group Inc, Mondi Plc, Smurfit Kappa Group Plc, Uflex Ltd, DS Smith Plc, Sealed Air Corp., Huhtamaki Oyj, International Paper Co, Sonoco Products Co, Constantia Flexibles Group GmbH, Crown Holdings Inc, Winpak Ltd, Fuji Seal International Inc, Coveris Holdings SA, Trioworld Industrier AB.
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Flexible Packaging Market Scope and Segmentation
GlobalData Plc has segmented the flexible packaging market report by packaging type, material type, application, and region:
Global Flexible Packaging, by Packaging Type Outlook (Volume; Millions of pack units, Revenue; US$ 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)
- Cosmetics & Toiletries
- Non-alcoholic Beverages
- Household Care
- Pet Care
- Others (Tobacco and Tobacco Products, Baby Care, Alcoholic Beverages)
Flexible Packaging Regional Outlook (Volume; Millions of pack units, Revenue; US$ Million, 2020-2030)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
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