Flexible Packaging Market - Know the Untapped Revenue Growth Opportunities

Flexible Packaging Market to reach over USD 407.18 billion by the year 2031 - Exclusive Report by InsightAce Analytic

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Flexible Packaging Market Size, Share & Trends Analysis Report By Packaging Type (Pouches, Bags, Roll Stock, Films & Wraps), Printing Technology (Flexography, Rotogravure, Digital Printing), Material (Paper, Plastic, Metal), End-user Industry (Food & Beverages, Pharmaceutical & Healthcare, Personal Care & Cosmetics)- Market Outlook And Industry Analysis 2031"

The global flexible packaging market is estimated to reach over USD 407.18 billion by 2031, exhibiting a CAGR of 5.28% during the forecast period.

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Flexible packaging and a sturdy, complex, and flexible external covering protect Mollusks' bodies. Internationally shifting container habits and a rising need for innovative solutions are two key factors supporting the growth of the flexible packaging industry. In addition, by taking advantage of the global trend toward sustainable packaging, the expansion of the flexible packaging market can be accelerated. The demand for sustainable products is growing, and consumers are more environmentally conscious than ever. This is anticipated to have a significant impact on the flexible packaging industry. Research and development in the packaging industry have bolstered over the past few years. The world has seen some major innovations in this field owing to constant changes in the packaging industry. On the other hand, the lack of proper recycling infrastructure could negatively impact flexible packaging adoption globally and act as a major restraint to the flexible packaging market.

List of Prominent Players in the Flexible packaging Market:
• Ahlstrom
• Aluflexpack Ag
• Amcor Limited
• Berry Global Group, Inc.
• Bischof + Klein Se & Co. Kg
• Constantia Flexibles
• Cosmo Films Limited
• Coveris
• C-P Flexible Packaging
• Ds Smith
• Goglio Spa
• Guala Pack S.P.A.
• Huhtamaki Oyj
• Linear Plastics and Packaging
• Mondi Group
• Novolex-Carlyle Group
• Novus Holdings Ltd.
• PPC Flexible Packaging Llc
• Printpack, Inc.
• Proampac
• Sealed Air Corporation
• Silafrica
• Smurfit Kappa
• Sonoco Products Company
• Transcontinental Inc.
• Uflex Limited
• Westrock Company
• Wihuri Group

Market Dynamics:
Drivers-
Flexible packaging is becoming increasingly popular with customers since it is a cost-effective solution to storage problems, reduces product waste, and maintains food safety and quality. The pharmaceutical and nutraceutical sectors have also driven the demand for flexible packaging since it offers these sectors a polymer-based biodegradable and recycling alternative. Other variables influencing the industry right now include the capability of customization, assurance of safety, reusability, transparency, reliability, etc.

Challenges:
Thin container layers unable to adequately protect the contents physically are the main factors limiting the growth of the flexible packaging market. The market for flexible packaging is projected to be hampered by the need for sensitive handling of liquid packaged items because they are readily punctured. Because plastic is a vital component used in creating flexible packaging, the fluctuating price of raw materials used in that process as a result of unstable variable oil prices directly impacts the overall cost of production and raw materials. This is anticipated to restrain the market's expansion for flexible packaging.

Regional Trends:
The North American region's flexible packaging market is expected to register a major market share. The key factors responsible for lucrative growth in this region are increasing disposable income, the growing popularity of e-commerce and online shopping, key flexible packaging companies, and rising demand for ready-to-eat foods and consumables.
Besides, the Asia Pacific region is anticipated to witness the swiftest growth over the upcoming years due to government policies and support availability. Due to their enormous populations, rising ready-to-eat intake, expanding structured retail industry, booming e-commerce, and increasing per capita income, China and India provide significant growth possibilities for the packaging market players in APAC. These elements will also guarantee that China and India will continue to dominate the industry in the years to come.
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Recent Developments:
• In June 2021, Coveris created a brand-new cereal liner solution using its technical expertise. To improve shelf life and packer performance, the Cereal+ liner was developed. For cereals and dry goods packaged in bag-in-box films, the Coveris Cereal+ liner offers product protection, freshness, and shelf life created from entirely recyclable polyethylene.
• In October 2021-Berry Global and LyondellBasell worked together to pursue the objective of procuring all its packaging's for customers responsibly by the year 2026. The partnership encourages consumers to switch from single-substrate, transparent plastic drink cups that are easier for them to recycle to plastic-lined paper cups with limited recycling potential.

Segmentation of Flexible packaging Market-
By Packaging Type
• Pouches
• Roll stock
• Bags
• Films & Wraps
• Others
By Material
• Plastic
• Paper
• Metal
By Printing Technology
• Rotogravure
• Flexography
• Digital Printing
• Others
By End Use Industry
• Food
• Beverage
• Pharmaceutical & Healthcare
• Personal Care & Cosmetics
• Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa
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