Flexible Packaging Market to Reach Valuation of USD 319.9 Billion By 2028 – Rising Research and development in the packaging industry on Flexible Packaging Drives the Market

In terms of revenue, the Global Flexible Packaging Market is expected to reach USD 319.9 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 4.20% from 2022 to 2028.

Flexible Packaging means strong, rigid, and inflexible external covering used to protect the bodies of invertebrates. Changing packaging preferences on a global scale and increasing demand for novel solutions are two major factors influencing Flexible Packaging Market growth. Besides, increasingly stringent regulations against the use of plastic in packaging are expected to emerge as a major challenge to the Flexible Packaging Market growth over the forecast period. Moreover, the Flexible Packaging Market growth can be boosted by capitalizing on the sustainable packaging trend that has taken over the world. Consumers worldwide are more aware of the environment than ever, and the demand for sustainable products is higher. This is expected to significantly impact the Flexible Packaging Market, which could boost growth by the end of the forecast period.

Key Highlights from Report:

· The Food & Beverages, of the End Userssegments, are expected to lead the market due to increasing consumption of packaged food items and increasing concerns related to health and nutrition, further driving the growth of the market during the forecast period.

· Advance packaging in the Food & Beverage industry. Also, the rising penetration of automated food manufacturing plants demands modern packaging systems for barrier-free packaging of finished products, thereby boosting market growth.

· Plastic, of the Material segment, is expected to show lucrative growth in the Flexible Packaging Market during the forecast period. This is ascribed to increasing efforts to phase out plastic from the packaging industry to comply with sustainability goals.

· North America had a large share of the global market and is estimated to continue its dominant position over the forecast period. 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.

Market Dynamics:

Flexible Packaging has emerged as a popular choice due to its cost-effective nature and longer shelf life than other packaging options. With rapid innovations and changing demands for packaging worldwide, the Flexible Packaging Market has emerged as a lucrative market for packaging companies. Furthermore, the rising use of biodegradable plastics due to increased awareness about eco-friendly products among consumers; and transcultural eating habits have led to the growing demand for packaged fast foods, therefore driving the adoption of plastic in the packaging of food products.

The Asia Pacific is estimated to maintain its dominant share in the market during the forecast period. This is majorly due to population growth, rise in income levels, urbanization, change in lifestyles, increase in internet penetration and surge in development of the economy. In Addition, rising sales of products, increasing e-commerce activity, the presence of key Flexible Packaging manufacturers, and rapid industrialization are some of the major factors that govern the Flexible Packaging Market in this region.

The Global Flexible Packaging Market is Segmented as follows:

• Materials
  • Paperboards
  • Plastics
  • Aluminum Foils
  • Other Materials
• Packaging Types
  • Stand-up Pouches
  • Films
  • Bag-in-Box
  • Other Packaging Types
• End Users
  • Food & Beverage
  • Personal Care
  • Pharmaceutical
  • Household Care
  • Industrial
  • Other End Users
• Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

A list of the Key Players of the Global Flexible Packaging Market is:

Berry Global Inc., Amcor PLC, FlexPak Services LLC, Mondi Group, Sealed Air Corporation, Constantia Flexibles, Transcontinental Inc., Coveris Holding SA, Huhtamaki, Sonoco

The Global Flexible Packaging Market Scope can be Tabulated as below: