Press release
Flexible Plastic Packaging Market Surges, Set to Reach $219.18 Billion by 2028
Flexible Plastic Packaging Market
Experiencing robust growth, the flexible plastic packaging market is poised to climb from $166.01 billion in 2023 to $174.42 billion in 2024, reflecting a Compound Annual Growth Rate (CAGR) of 5.1%. Further, the market is anticipated to witness sustained expansion, reaching $219.18 billion by 2028, with a projected CAGR of 5.9%.
Key Growth Drivers:
Processed And Packaged Food Consumption Fuels Market Rise:
The surge in processed and packaged food consumption has been a driving force behind the flexible plastic packaging market's growth. Recognized for its moldable nature, flexible plastic packaging meets the diverse packaging needs of food brands. Notably, processed food product exports witnessed a substantial increase, reaching $13,261 million in 2021-22, according to the Agricultural and Processed Food Products Export Development Authority (APEDA).
E-Commerce Boom Propels Flexible Plastic Packaging Market:
The flourishing e-commerce industry is anticipated to propel the flexible plastic packaging market. Flexible plastic packaging solutions play a crucial role in ensuring secure and efficient product shipments for the rapidly growing e-commerce sector. The second quarter of 2023 saw a 7.5% rise in e-commerce estimates, indicating a thriving market, as reported by the United States Census Bureau.
Explore the Global Flexible Plastic Packaging Market with a Detailed Sample Report:
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Major Players:
Key players in the flexible plastic packaging market include Constantia Flexibles International GmbH, Amcor Ltd., Berry Global Inc., Clondalkin Group Holdings BV, and others.
Trends Shaping the Market:
Innovative And Sustainable Packaging Solutions Reshape Landscape:
Innovation and sustainability take center stage in the flexible plastic packaging market. Companies are focusing on creating innovative and eco-friendly packaging solutions. A notable example is FreeForm Packaging AB's launch of one-sided stretchable paper laminate, which consists of 85% paper, offering an environmentally conscious choice.
Ineos Introduces Recyclable Flexible Film for Sustainable Packaging:
Key players, including Ineos Group Limited, are contributing to sustainable packaging solutions. The Recyclable Flexible Film, made from over 50% recycled plastic waste, addresses environmental concerns by preventing one million tons of waste. Launched in May 2023, this film is positioned as a low-carbon solution for transporting various goods.
Regional Insights:
Asia-Pacific emerged as the largest region in the flexible plastic packaging market in 2023, with continued growth expected. The comprehensive regional coverage encompasses Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Market Segmentation:
The flexible plastic packaging market is segmented based on:
The flexible plastic packaging market covered in this report is segmented -
1) By Type: Stand-Up Pouches, Flat Pouches, Rollstock, Gusseted Bags, Wicketed Bags, Wraps, Other Types
2) By Technology: Flexography, Rotogravure, Digital Printing, Other Technologies
3) By Application: Food, Beverage, Pharma And Health Care, Personal Care And Cosmetics, Other Applications
Access the Complete Report for In-Depth Analysis:
https://www.thebusinessresearchcompany.com/report/flexible-plastic-packaging-global-market-report
Flexible Plastic Packaging Global Market Report 2024 from TBRC covers the following information:
Market size date for the forecast period: Historical and Future
Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Flexible Plastic Packaging Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on market size, flexible plastic packaging market drivers and trends, flexible plastic packaging market major players, competitors' revenues, market positioning, and market growth across geographies. The flexible plastic packaging market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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