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Flexible Plastic Packaging Market on Track for Strong Growth, Estimated to Grow at 6.6% CAGR Through 2029
Flexible Plastic Packaging Market
What Is the Expected CAGR for the Flexible Plastic Packaging Market Through 2025?
The market size for flexible plastic packaging has been experiencing steady growth in the recent past. The market is projected to grow from a value of $173.29 billion in 2024 to $180.16 billion in 2025, reflecting a compound annual growth rate (CAGR) of 4.0%. Factors such as consumer convenience, sustainability issues, the expansion of the food and beverage industry, attractive display and branding, and enhanced transportation and logistics capabilities are driving this growth during the historical period.
What's the Projected Size of the Global Flexible Plastic Packaging Market by 2029?
The market size of flexible plastic packaging is projected to witness a substantial increase in the coming years. The market's value is anticipated to reach $232.77 billion in 2029 with a compound annual growth rate (CAGR) of 6.6%. This growth during the forecast period can be ascribed to factors such as the rise in e-commerce and home deliveries, demand for convenience features, customization, and personalization, efforts to reduce food waste, and growth in emerging markets. Significant trends that are expected to dominate during the forecast period include surging attention to health and hygiene, advancements in barrier materials, alternatives to single-use plastic, digital printing and labeling, and innovative technological developments.
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Top Growth Drivers in the Flexible Plastic Packaging Industry: What's Accelerating the Market?
The surge in the pharmaceutical sector is anticipated to fuel the expansion of the flexible plastic packaging market in the future. The pharmaceutical industry revolves around studying, creating, producing, and delivering drugs and therapies useful in disease prevention, diagnosis, management, and treatment. The increase in demand in pharmaceutical industries is driven by elements like an aging society, a higher incidence of chronic diseases, advancements in medical technology, improved access to healthcare, and heightened awareness of health and wellness. Flexible plastic packaging, popular in the pharmaceutical sector, is utilized to package items like blister packs, pouches, and sterile bags, providing protection, enhancing shelf life, and user convenience. For example, as per the Government of Canada, a Canada-based federal entity, in 2022 local exports in the pharmaceutical business surged to 12.79, while imports spiked to 30.21 in 2022. Hence, the rise in the pharmaceutical sector fuels the disintegration tester market's growth.
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What Trends Will Shape the Flexible Plastic Packaging Market Through 2029 and Beyond?
Introducing novel packaging to lure in additional consumers and grow the company's clientele is a prominent trend in the flexible plastic packaging sector. Companies involved in the flexible packaging market are honing in on producing creative and eco-friendly packaging solutions for their clientele. For instance, Amcor, a reputable England-based packaging solution provider, introduced its Eco Protect diaper packaging comprising 30% recycled materials in April 2024. These bags feature post-consumer recycled content and offer a more environmentally-friendly packaging option for their hypoallergenic diapers crafted from certified, plant-derived fibers.
What Are the Main Segments in the Flexible Plastic Packaging Market?
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
Subsegments:
1) By Stand-Up Pouches: Zippered Stand-Up Pouches, Spout Stand-Up Pouches
2) By Flat Pouches: Heat-Sealed Flat Pouches, Ziplock Flat Pouches
3) By Rollstock: Printed Rollstock, Non-Printed Rollstock
4) By Gusseted Bags: Bottom Gusseted Bags, Side Gusseted Bags
5) By Wicketed Bags: Wicketed Polyethylene Bags, Wicketed Paper Bags
6) By Wraps: Stretch Wraps, Shrink Wraps
7) By Other Types: Vacuum Bags, Bubble Mailers
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Which Top Companies are Driving Growth in the Flexible Plastic Packaging Market?
Major companies operating in the flexible plastic packaging market include Constantia Flexibles International GmbH, Amcor Ltd., Berry Global Inc., Clondalkin Group Holdings BV, ProAmpac Holdings Inc., Coveris Flexibles UK Ltd., Bemis Company Inc., Bischof + Klein SE & Co KG, Aluflexpack AG, Cosmo Films Ltd., C-P Flexible Packaging, Novolex Holdings LLC, Swisspac USA, Ultimate Packaging Pty Ltd., Mondi Group plc, Sonoco Products Company, Sealed Air Corporation, TC Transcontinental Inc., Huhtamaki Oyj, WestRock Company, DS Smith plc, Silgan Holdings Inc., Uflex Ltd., Winpak Ltd., Glenroy Inc., Printpack Inc., Schur Flexibles Group, Huhtamaki PPL Ltd., Novolex Holdings Inc., InterFlex Group Europe Ltd., American Packaging Corporation
Which Regions Will Dominate the Flexible Plastic Packaging Market Through 2029?
Asia-Pacific was the largest region in the flexible plastic packaging market in 2024. The regions covered in the flexible plastic packaging market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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