Flexible Packaging Market Intelligence Report Offers Insights on Growth Prospects 2020-2030

Transparency Market Research delivers key insights on the flexible packaging market in its published report, which includes global industry analysis, size, share, growth, trends, and forecast for 2019-2027. In terms of revenue, the global flexible packaging market is projected to expand at a CAGR of ~5% during the forecast period, due to several factors, about which, TMR offers detailed insights and forecast in this report.

Flexible Packaging Market - An Overview

Flexible packaging is a format that is made up of various materials such as plastic, paper, metal, etc., and has the barrier property to protect products from contamination and the external environment. Flexible packaging is widely preferred due to its properties such as cost-effectiveness, durability, and light weight. There is the use of a wide variety of plastic polymers that include polypropylene, polyethylene, polyester, and nylon in producing films for flexible packaging. These plastic films are used to create products such pouches, bags, and other flexible products.

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Asia Pacific (APAC) Region to Witness Growth Opportunities

The flexible packaging market in Asia Pacific is estimated to hold a dominant position in terms of market share, estimated to be ~41% in 2019 and ~45% by the end of the forecast period in the global flexible packaging market. China and India, together, are projected to account for ~57% of the APAC flexible packaging market in 2019. In the APAC region, India & China are the highly emerging markets for the extended growth of the flexible packaging market. The need for convenience packaging is the ongoing trend in the flexible packaging market in the Asia Pacific region. The packaging type that can increase the barrier property against the external environment, along with providing sustainability, raises the sales of flexible packaging in the market.

North America holds approximately one-fourth of the global flexible packaging market share. However, it is expected to experience less growth as compared to the market in the APAC region over the forecast period.

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Global Flexible Packaging Market: Competition Landscape

In the global market report on flexible packaging, a detailed competition landscape is discussed. Some of the key players in the global flexible packaging market that are included in the report are Amcor plc, Winpak Ltd., Sealed Air Corp, Sonoco Products Company, Berry Global Group, Inc., DS Smith Plc, and Coveris Holdings S.A.. These are the market leaders with a combined market share of ~5% of the global flexible packaging market.

Asia Pacific to Lead Flexible Packaging Market Owing to Ongoing Trend of Convenience Packaging

The Asia Pacific is expected to hold near about one-third of the revenue share of the global flexible packaging market. The share of the regional market was approximately 41% in 2019 and is forecast to be around 45% by the end of the forecast period. Countries like India and China have witnessed a substantial growth trajectory in the global flexible packaging market due to increasing demand especially in food and pharmaceutical industries in form of sachets and stick packets. However, the increasing need for convenience packaging in emerging markets has escalated the growth of the flexible packaging market.

North America follows the Asia Pacific regions in terms of growth and around one-fourth of the flexible packaging market share in 2018. Pouches, sachets, and sticks are popular forms of flexible packaging in this region. Thus, North America is expected to exhibit lucrative growth in the flexible packaging market.

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insights to thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyse information.

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