Global flexible packaging market likely to grow at a CAGR of over 3% by 2024 | Arizton

Arizton’s latest market research report on the global flexible packaging market covers market sizing and forecast, share, industry trends, growth drivers, and vendor analysis. The study includes insights on segmentation by materials (flexible plastic, flexible paper, and foil), products (bags and sacks, pouches, and others), printing (flexographic and rotogravure, and others), application (consumer and industrial), end-user (F&B, healthcare, personal care, pet food, and others), and geography (APAC, Europe, North America, Latin America, and MEA).
The increase in processed and packaged food consumption is one of the major driving factors in the global flexible packaging market. Flexible packaging solutions meet all the requirements of food manufacturers and consequently has been adopted widely by the packaged food industry. The global increase in disposable income and the growing population have been increasing the consumption of packaged and processed food products.

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Further, the market growth is linked to the performance of the economy in general, and hence, it is necessary for vendors to diversify or expand the scope/scale of operations to negate recessionary trends in certain regions. The market is highly fragmented with the presence of many large vendors operating on a global scale and regional or country-specific vendors catering to their respective regions.

The increasing pressure on food and beverages, consumer goods, and pharmaceutical companies to reduce dependency on plastic is driving vendors to adopt sustainable practices. Sustainability as a practice focuses on recovering plastic products and recycling them.

The use of flexible packaging has expanded as this type of packaging is environment-friendly. The cost of raw materials, low production expenditure, lightweight nature, which, in turn, reduces the transportation cost, are the major driving factors for the growth of the market. Developing countries with low per capita offer increased business opportunities for packaging vendors.

Flexible Packaging Market: Segmentation

The food industry, which constitutes a share of more than 60%, is the major demand contributor for flexible plastic pouches. The application of paper wraps in the foodservice industry is growing at an annual rate of 7%, which is driven by the demand from the dry and pet foods. APAC is currently the largest producer of aluminum foils. China is the leading producer and consumer of aluminum foil. As several vendors are based out of the US, the demand is high in the North American region.

Market Segmentation by Material
• Flexible Plastic
• Flexible Paper
• Foil

Market by Application

The consumer segment is growing moderately on account of increased consumption of ready to eat food and per capita incomes. The market in emerging economies is expected to fetch three-times more revenue than developed economies. The use of recycling content will be a new unique selling point in Europe and North America.

Market Segmentation by Application
• Consumer Packaging
• Industrial Packaging

Market by End-users

Modified atmosphere and vacuum packaging are currently used for the packing of meat, poultry, and seafood in the food industry

The food & beverage (F&B) industry dominates the global market. The need to increase shelf life of food items and eatables is one of the major factors for the adoption in the F&B industry. Furthermore, the rise of nuclear families, the shift from urban to rural areas and increased household incomes are pushing the growth. The application of modified atmospheric packaging technology is adopted in the bakery, thereby increasing the demand for packing bakery and confectionery products.

Market Segmentation by End-user
• F&B
• Medical
• Personal Care
• Petfood
• Others

Market by Products

The increasing automation of the food processing industry in developing countries is driving the pouch segment
The growth of the segment is largely driven by retail carry bags, storage bags, bread bags, diaper bags, sacks and produce bags. The segment is influenced by monolayer PE films as they do not require advanced machinery.

Market Segmentation by Product
• Bags and Sacks
• Pouches
• Others

Market by Printing Type

The versatility of flexo press along with the low operational cost is the major reason for increased adoption of flexographic printing
While flexographic printing is most widely adopted in North America and South America, rotogravure printing has a significant share in the APAC region. Factors such as low labor costs, low press footprint, and less energy requirements are the key factors for a high market share of flexographic printing.

Market Segmentation by Printing
• Flexographic
• Rotogravure
• Others

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Flexible Packaging Market: Geography

The highly developed retail scenario in Europe is pushing the flexible printing market to adopt better print technology

The demand from food, pharmaceuticals, and industrial secondary/tertiary packaging is expected to push the APAC market. Japan is expected to provide high growth opportunities, due to the increased demand for packed food from the elderly population (above 65 years). Also, China, India, and other southeast Asian countries are emerging as growth drivers for the APAC region.

The expansion in supermarkets has led to the increased demand for shelf-ready packaging, thus driving the shrink packaging in Europe. The highly developed retail scenario in the region is pushing the market to adopt better print technology and opt easy open and closure portions in flexible pouches.

Key Profiled Countries
• Argentina
• Australia
• Brazil
• Canada
• Chile
• China
• Egypt
• France
• Germany
• India
• Italy
• Japan
• Mexico
• New Zealand
• Saudi Arabia
• South Africa
• South Korea
• Spain
• Turkey
• UAE
• UK
• US

Key Vendor Analysis

The market has very few vendors who have breached the $1 billion in revenue. Small and medium-scale enterprises dominate the market. Larger players have been aggressively adopting inorganic growth strategy to expand their operations in many regions. Key players’ technological strength and high-volume product lines have helped offset cost variations. Small companies’ focus has been on customization, as the competition is mainly on two aspect - features and price. The niche segment, which does not have large volumes is largely dependent on smaller companies. Many new companies have sprung up in APAC as the e-commerce industry has increased the demand for protective packaging. Stretch films, protective wraps, and pouches have witnessed high demand in the last few years. The key competitive factors in the industry include – price, quality, adherence to newly evolving regulations, distribution network, and R&D investments.

Key Vendors
• Amcor
• Berry Global
• Mondi
• Sealed Air
• TC Transcontinental
• Sonoco
• Huhtamaki

Other prominent vendors are Constantia Flexibles, Printpack, International Paper, Uflex, Smurfit Kappa, ProAmpac, Reynolds Group, Novolex, Bischof + Klein, Sigma Plastics, Glenroy, Winpak, RPC Group, Greif, Stora Enso, Innovia Films, Global-Pak, American Packaging Corp., and WestRock.

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