Global Flexible Packaging Market Estimated to Gain $350.17 Billion in Revenue by 2028

According to Triton's report, the global flexible packaging market, which attained $255.26 billion in 2021, is expected to progress at a CAGR of 4.66% by 2028.

A recent study by Triton Market Research titled Global Flexible Packaging Market discusses the Global Analysis and Forecasts by Type (Gusseted Bags, Stand-Up Pouches, Wraps, Flat Pouches, Rollstock, Wicketed Bags), Application (Cosmetics, Pharmaceuticals, Food & Beverage, Others), Printing Technology (Rotogravure, Digital Printing, Flexography, Others), Raw Material (Bioplastic, Aluminum, Paper, Plastic), and Geography (Latin America, Europe, Asia-Pacific, Middle East and Africa, and North America).

Flexible packaging is a customization solution used for product protection. It is available in various shapes, sizes, brands, and business needs.

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According to Triton's Market Research, the global flexible packaging market is expected to grow at a CAGR of 4.66% over the forecasted years 2022-2028, attaining revenue worth $350.17 billion by 2028. Further, the market is estimated to attain 32676.84 kilotons by 2028 with a CAGR of 4.01%.

With consumers looking for convenient and eco-friendly packaging solutions, the flexible packaging market is expected to rise significantly. These packaging types are commonly used in consumer goods that help promote, protect, and transport products. Additionally, flexible vacuum packaging provides five times longer preservation for food & beverages products than traditional packaging, thus boosting its adoption. Moreover, due to increased demand for ready-to-cook and convenient eatables, the market for flexible packaging is expected to rise substantially.

However, the rise in the operational cost of packaging materials and challenges in recycling flexible packaging products negatively impact the market's growth.

The flexible packaging market is categorized into type, application, printing technology, and raw material. Based on the type, it is divided into gusseted bags, stand-up pouches, wraps, flat pouches, rollstock, and wicketed bags. The application is segmented into cosmetics, pharmaceuticals, food & beverages, and others. The printing technology contains rotogravure, digital printing, flexography, and others. Lastly, the raw materials include bioplastic, aluminum, paper, and plastic.

Geographically, the Asia-Pacific dominates the market and is expected to lead over the forthcoming years. The market in the region displays an uptrend due to the rising packaged food market, private investments in flexible packaging, and increasing plastic production. Additionally, the acceleration of domestic demand and availability of low-cost labor give flexible packaging producers a competitive edge. Hence, these factors augment the growth process of the market.

Handoo Package Co Ltd, Asahi Kasei, EPAC, Flair Flexible Packaging Corporation, Rengo Co Ltd, Bischof + Klein SE & Co KG, Michelman Japan LLC, Solvay SA, Mondi Group, Kohjin Film & Chemicals Co Ltd, Mitsui Bussan Packaging Co Ltd, Amcor Ltd, Dai Nippon Printing Co Ltd, Coveris Management GmbH, Takigawa Corporation, Amerplast, Bryce Corporation, Okura Industrial, KM Packaging Services Ltd, TCL Packaging, Sealed Air Corporation, American Packaging Corporation, Korpack Corporation, and Hosokawa Yoko Co Ltd are the prominent players in the flexible packaging market.

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Question & Answer: Flexible Packaging Market
Question 1: What factors are expected to contribute to the rise of the flexible packaging market?
Answer: With consumers looking for convenient and eco-friendly packaging solutions, the flexible packaging market is expected to rise significantly. These packaging types are commonly used in consumer goods that help promote, protect, and transport products. Additionally, flexible vacuum packaging provides five times longer preservation for food & beverages products than traditional packaging, thus boosting its adoption. Moreover, due to increased demand for ready-to-cook and convenient eatables, the market for flexible packaging is expected to rise substantially.

Question 2: What factors negatively impact the flexible packaging market's growth?
Answer: The rise in the operational cost of packaging materials and challenges in recycling flexible packaging products negatively impact the market's growth.

Question 3: Which region dominates the global flexible packaging market?
Answer: Geographically, the Asia-Pacific dominates the market and is expected to lead over the forthcoming years. The market in the region displays an uptrend due to the rising packaged food market, private investments in flexible packaging, and increasing plastic production. Additionally, the acceleration of domestic demand and availability of low-cost labor give flexible packaging producers a competitive edge. Hence, these factors augment the growth process of the market.

Question 4: What are the prominent players in the flexible packaging market?
Answer: Handoo Package Co Ltd, Asahi Kasei, EPAC, Flair Flexible Packaging Corporation, Rengo Co Ltd, Bischof + Klein SE & Co KG, Michelman Japan LLC, Solvay SA, Mondi Group, Kohjin Film & Chemicals Co Ltd, Mitsui Bussan Packaging Co Ltd, Amcor Ltd, Dai Nippon Printing Co Ltd, Coveris Management GmbH, Takigawa Corporation, Amerplast, Bryce Corporation, Okura Industrial, KM Packaging Services Ltd, TCL Packaging, Sealed Air Corporation, American Packaging Corporation, Korpack Corporation, and Hosokawa Yoko Co Ltd are the prominent players in the flexible packaging market.

Related Report
Aseptic Packaging Market : https://www.tritonmarketresearch.com/reports/aseptic-packaging-market

The global aseptic packaging market is expected to display an uptrend with a CAGR of 9.24% over the forecasted years of 2021 to 2028. The market garnered $37.70 billion in 2021 and is likely to reach $73.71 billion by 2028.

Aseptic packaging is a method where the package and contents are sterilized separately. These are then packed in a sterilized environment. The market for aseptic packaging is rising due to the increasing demand for processed foods. Besides, aseptic packaging is widely used to preserve and increase the shelf life of food & beverage products.

Additionally, the growing disposable income and changing consumer dietary behavior also augment the demand for packaged food, thus creating a reliable growth for the aseptic packaging market. However, the volatility in the cost of raw materials such as paper, glass, steel, etc., impacts the manufacturers' operations.

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