Flow Wrap Packaging Market Research 2033: Global Industry Analysis By Material, Application, Region and Industry Forecast

As per the latest report published by Allied Market Research, the "global flow wrap packaging market size was valued at $26.9 billion in 2023, and is estimated to reach $44.7 billion by 2033, growing at a CAGR of 5.3% from 2024 to 2033.

Macroeconomic & Geopolitical Impact

The flow wrap packaging market is significantly influenced by macroeconomic and geopolitical factors, including global trade policies, raw material price fluctuations, and supply chain disruptions. According to IMF, the rising inflation rate, which averaged around 6.6% globally in 2023 has increased production costs due to higher prices for polyethylene and polypropylene, key materials used in flow wrap packaging. In addition, the Russia-Ukraine conflict has led to volatility in energy prices, impacting manufacturing and logistics costs. Geopolitical tensions and trade restrictions between major economies (such as the U.S.-China trade war) have affected the availability of raw materials, leading to supply chain delays, with global shipping costs rising by over 50% in some regions as per the World Bank. Despite these challenges, economic growth in emerging markets, particularly in India and Southeast Asia, where GDP is projected to grow by over 6% in 2024 according to World Economic Outlook, is driving demand for packaged goods, creating new opportunities for the flow wrap packaging industry. Moreover, the push for sustainable packaging, driven by government regulations like the EU's Single-Use Plastics Directive, is reshaping industry investments toward biodegradable and recyclable materials, influencing future market dynamics.

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The plastic films segment held a major share of the market in 2023.

By material, the plastic films segment was the highest revenue contributor to the market in 2023 and is expected to grow with a CAGR of 5.1%. The growing demand for plastic films in flow wrap packaging is driven by their superior barrier properties, cost efficiency, and versatility across multiple industries. Plastic films such as polyethylene (PE), polypropylene (PP), and biaxially oriented polypropylene (BOPP) offer moisture, oxygen, and contamination resistance, ensuring extended shelf life for food, pharmaceuticals, and consumer goods. In addition, their lightweight nature reduces transportation costs, making them a preferred choice for manufacturers seeking cost-effective solutions. The e-commerce boom has further fueled demand, as durable plastic films provide tamper-proof and flexible packaging for online deliveries. Innovations in recyclable and biodegradable plastic films are also gaining traction, addressing sustainability concerns while maintaining the advantages of traditional plastic-based packaging. Moreover, advancements in high-speed automated packaging machinery favor plastic films due to their seamless machinability, printability, and adaptability to various product shapes and sizes, reinforcing their dominance in flow wrap packaging applications.

The food and beverages segment dominated the market in 2023.

By application, the food and beverages segment was the highest revenue contributor to the market in 2023 and is expected to grow with a CAGR of 5.3%. The demand for flow wrap packaging is growing due to several key factors. One of the main drivers is the rising consumption of packaged and convenience foods, fueled by urbanization, busy lifestyles, and increasing disposable income. A survey conducted in 2024 revealed that three in five consumers globally consume convenience foods at least once a week, with one in five consuming them more than once a day. This trend is particularly pronounced in developing countries such as India and Indonesia, where there has been a significant increase in convenience food consumption. The shift toward convenience is also evident in the U.S., where the percentage of residents replacing meals with snacks rose from 14% in 2023 to 17% in 2024, indicating a growing preference for quick and easy meal solutions. Consumers prefer single-serve, portion-controlled, and on-the-go food options, making flow wrap an ideal choice for manufacturers. In addition, food safety and hygiene concerns have heightened post-pandemic, leading to a surge in demand for sealed, contamination-free packaging that prevents moisture, oxygen, and bacterial exposure.

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Asia-Pacific to maintain its dominance by 2033 growing with a CAGR of 5.6%.

Asia-Pacific was the highest revenue contributor, growing at a CAGR of 5.6%. Plastic films segment is gaining popularity in Asia-Pacific. The rapid expansion of e-commerce platforms has escalated the demand for durable and lightweight packaging solutions. In China, for instance, the e-commerce share of total retail sales in consumer goods increased from 20.7% in 2019 to 27.6% in 2023, underscoring the growing reliance on plastic films to ensure product safety during transit. Moreover, India's frozen foods and snacks market is expanding rapidly, with frozen vegetables and snacks accounting for over 65% of the market share. This growth fuels the need for effective plastic film packaging to preserve product quality and extend shelf life.

Investment Opportunities in Flow Wrap Packaging Market

The surge in e-commerce necessitates durable and visually appealing packaging, further propelling market expansion. Strategic mergers and acquisitions, exemplified by Amcor's USD 8.4 billion acquisition of Berry Global Group in 2024, underscore the industry's consolidation and the potential for scalability. The Amcor-Berry Global merger represents a significant consolidation within the packaging industry, forming a combined entity with annual revenues of approximately $24 billion. Berry shareholders received 7.25 Amcor shares for each Berry share, resulting in Amcor shareholders owning about 63% and Berry shareholders 37% of the merged company. The merger is projected to achieve $650 million in cost synergies within three years, stemming from streamlined operations and procurement efficiencies. In addition, the combined entity plans to invest $180 million annually in research and development, focusing on sustainable packaging solutions. Operating across more than 140 countries with around 400 production facilities, this strategic consolidation enhances scalability and positions the company to address evolving market demands, particularly in sustainability and global reach. Investors focusing on technological advancements in high-speed flow wrapping machinery and sustainable material development are well-positioned to capitalize on this upward trajectory.

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Key Players: -

KM Packaging Services Ltd.
Huhtamaki
Billerud AB
Sonoco Products Company
Winpak Ltd.
OPM Group
ePac Holdings, LLC
Amcor PLC
Constantia Flexibles Group
Polysack Flexible Packaging Ltd
Key Developments

In 2023, Amcor introduced AmFiber Performance Paper in North America, a high-barrier laminated paper designed for curbside recycling. Ideal for applications such as cold-seal flow wraps and three-side seal sachets, it is compatible with existing flexible packaging equipment and operates at machine speeds similar to plastic-based packaging.
In 2024, Amcor announced its agreement to acquire Berry Global Group in an all-stock deal valued at $8.4 billion. This merger aims to create a leading entity in consumer and healthcare packaging, with combined revenues of approximately $24 billion. The transaction is expected to close by mid-2025, pending regulatory approvals.

The report provides a detailed analysis of these key players in the global Flow Wrap Packaging market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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