$243.7 Billion Flexible Packaging Market – 2023, Top players are Amcor, Huhtamaki, Coveris Group, Mondi Group, Sealed Air Corporation, Bemis Company, Inc., Sonoco Products Company, Berry Plastics Corporation, Constantia Flexibles

Flexible packaging has emerged as an implementation of various manufacturing methods and polymer additions providing the means to increase appeal to a broad spectrum of products. From convenience and durability; ease in opening and resealing; overall cost saving; and high portability, flexible packaging has cemented itself in the packaging world, and has undoubtedly became a key contributor to packaging industry growth. Meticulous Research® in its latest publication on flexible packaging market states that the global market will increase at a CAGR of 3.7% from 2018 to 2023 to reach USD 243.7 billion by 2023.

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The slow growth of the global flexible packaging market is mainly attributed to stringent government regulation associated with rising environmental concerns, steadily increasing prices of raw materials, and recycle challenges. However, factors like downgauging of plastic films, shift from the traditional rigid packaging to flexible packaging, growing consumer focus on convenience and sustainability, increasing incidences of food losses and wastes, and high demand for improving barrier properties; ensures steady growth.

To provide efficient analysis, Meticulous Research has segmented this market on the basis of material (plastics, paper, aluminum foil, bioplastics, and recycled cellulose fiber), design (pouches, bags and trays, rollstocks, squeezable bottles, blisters, and wraps), industry verticals (food and beverages, pharmaceuticals, household and personal care, tobacco products, industrial and chemical products, and oil and lubricants), and geography.

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Top company profiles analysed in flexible packaging market report:
Constantia Flexibles
Bemis Company, Inc.
Sonoco Products Company
Berry Plastics Corporation
Mondi Group
The Reynolds and Reynolds Company
Clondalkin Flexible Packaging
Amcor
Huhtamaki
Coveris Group
Sealed Air Corporation

Wherein, geographically, Asia Pacific commanded the largest share in this market followed by North America. The major share of Asia Pacific is mainly attributed to large population base, increase in packaged food consumption, growing organized retail and the boom in E-Commerce, growing economies, growing disposable income, and favorable regulatory reforms.

While in terms of industry verticals, food & beverage industry accounted for the largest share in the global flexible packaging market in 2017. The large share of this segment is mainly attributed to factors like proper packaging enables easier and more successful transportation of food products. Moreover, potential demand for advanced packaging in emerging nations owing to increasing consumption of packaged food items and increasing concerns related to health and nutrition surge the growth of the advance packaging in the food and beverage industry.

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About Meticulous Research®

Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.

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