The Flexible Plastic Packaging Market size is projected to be valued at USD 108.3 billion in 2023 and is expected to rise to USD 171.6 billion by 2033. The sales of flexible plastic packaging are expected to grow at a significant CAGR of 4.7% during the forecast period.
Flexible packaging rescued the worldwide E-commerce business during the covid-19 pandemic, and post-pandemic demand for flexible packaging has skyrocketed. This shift has expanded the printing and packaging industry's business opportunities and growth.
To provide environmentally friendly packaging solutions globally, an increasing number of manufacturers are engaging in and promoting the development of bio-based and sustainable flexible plastic packaging materials.
As the demand for packaged food items rises, so does the use of flexible plastic packaging raw materials such as polystyrene, polyethylene terephthalate, and polyethylene.
High levels of export activity and investment in the food and beverage industries are expected to increase the use of flexible plastic packaging solutions, driving the flexible plastic packaging market during the forecast period.
Plastic flexible packaging is being used by an increasing number of manufacturers to pack a variety of consumer goods due to its cost-effectiveness and longer shelf life than other materials.
Consumers' increasingly fast-paced and hectic lifestyles have increased the saturation of processed and packaged products in every household worldwide.
As a result of stringent government regulations, environmental pressures, and changing consumer preferences, manufacturers are expected to develop recyclable and sustainable flexible plastic packaging solutions.
Manufacturers' primary focus areas include the development of bio-plastic solutions such as bio polypropylene and polybutylene, as well as the disposal and cost of bioplastics, which are expected to increase the use of bio-plastics in flexible plastic packaging.
| Attribute | Details |
|---|---|
| Flexible Plastic Packaging Market Estimated Size (2023) | USD 108.3 billion |
| Flexible Plastic Packaging Market CAGR (2023 to 2033) | 4.7% |
| Flexible Plastic Packaging Market Forecasted Size (2033) | USD 171.6 billion |
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Increasing consumer inclination towards on-the-go and online food delivery is fueling flexible plastic packaging demand across the world. The market is estimated to expand at 4.8% CAGR between 2023 and 2033, in comparison to the 3.9% CAGR registered from 2018 to 2022.
The demand for household essentials and medical items is expected to increase significantly, and sales of these items through online retail could increase. This is likely to boost the demand for flexible plastic packaging solutions to ensure the safe and timely delivery of these products to their respective end users.
However, over-packing in e-commerce is emerging as a major concern, as it creates additional wastage, requires high energy for recycling, and creates pollution. Lack of optimization in e-commerce packaging and breaking of a single package into multiple individual ones from the distribution center to delivery are the main causes of over-packing. This negatively influences the flexible plastic packaging sector's growth.
Development of novel packaging styles like compostable films, collapsible pouches, bag-in-box, and others by manufacturers boosts the flexible plastic packaging business growth. Due to this, the market is showing great opportunities and is expected to expand with a value of USD 100.6 billion in 2031 and USD 107.5 billion in 2032.
For instance, in 2021, KM Packaging launched a new compostable product range made from bioplastic packaging materials. Its C-range includes shrink wrap, stretch wrap, adhesive tape, nets, and bags. This is likely to expand KM’s product portfolio of sustainable, flexible packaging solutions and reach a wider customer base.
Eco-friendly solution and widespread use of bio-plastics in the packaging industry
People are aware of climate change, and it influences consumer purchasing decisions.
Non-biodegradable and single-use plastics have been banned in many emerging nations, and bioplastics are being developed.
In January 2020, the Indian Institute of Technology invented a new type of bioplastic that is less expensive and stronger than high-density polythene. The Indian government is promoting the use of eco-friendly composite films, collapsible pouches, and bag-in-box packaging.
Packaging design that is eye-catching and appealing
Customers, according to a recent study, prefer brands that never fail to surprise them with their packaging.
On auspicious occasions, for example, a jewelry company never fails to surprise its customers with creative packaging.
The e-commerce market is thriving, particularly since the impact of Covid-19. People are spending more money on the internet. As a result, in order to retain customers, these brands are strategically focusing more on eye-catching packaging.
When it comes to packaging customization, flexible packaging gives you more options. Customized packaging raises awareness, provides value to users, and significantly improves the user experience. It also aids the brand in establishing a strong presence in this competitive market.
Brands see it as a branding strategy, and flexible packaging allows them to establish authority in the minds of their customers.
These trends will drive the future market towards more environmentally friendly and personalized solutions, and ArrowJet Hybrid Pro is ready to serve this upcoming market.
Flexible plastic films and wraps are lightweight and durable and offer excellent protection for a wide range of products, particularly during transportation. The growing popularity of on-the-go meals continues to drive sales of flexible plastic film packaging. Although the films and wraps sector has significant growth potential over the forecast period, the bags and sacks section had the largest market share in 2022, accounting for 34.9% of the total.
Consumer packaging was the dominant player in 2022, with a share of 94.8 % based on end use. However, the rise in packaged food demand and the emergence of eateries are expected to drive high demand throughout the forecast period. The expansion of the food service sector is also a major growth driver. The food industry's continued emphasis on lightweight yet durable packaging solutions fuels demand for flexible packaging.
Since flexible packaging has been widely used in the storage and transportation of food and beverages, this segment is expected to grow rapidly during the forecast period. Because flexible packaging is nonfragile and lightweight, it is driving the market growth. Flexible packaging is also the less expensive option when compared to rigid packaging.
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The need for product packaging, such as single-serve and small-sized PET, has increased in Germany as a result of the growing trend of eating ready-to-eat meals. During the projected period, high technological advances and the increased customer desire for practical packaging options are anticipated to drive the market for PET bottles in Germany.
| Attributes | Details |
|---|---|
| United Kingdom Market Size (USD million/billion) by End of Forecast Period (2033) | USD 6.7 billion |
| United Kingdom Market Absolute Dollar Growth (USD million/billion) | USD 2.4 billion |
| CAGR % 2017 to 2022 | 3.9% |
| CAGR % 2023 to End of Forecast (2033) | 4.6% |
With this sales surge, the United States is anticipated to hold a significant share of 16.2% share and a total value of USD 4,648 million in 2023.
The Census Bureau of the Department of Commerce announced in its 2021 quarterly report that retail e-commerce sales in the United States were around USD 215 billion, while total retail sales until May 2021 were around USD 1,581.4 billion.
Flexible plastics are widely used in the e-commerce industry to pack products during the shipping phase from a distribution center to a consumer. Growing e-commerce sales in the United States increase the country's demand for flexible plastic packaging.
Growing fast-food restaurant chains in the United States contribute to the country's growth.
Furthermore, the United States is home to some of the world's largest e-commerce companies, making it a profitable market for flexible plastic packaging manufacturers. Furthermore, prominent end-use sectors in the United States, such as personal care, healthcare, pharmaceuticals, and industrial packaging, are expected to drive demand growth during the forecast period.
Given its low cost and eco-friendliness, flexible plastic packaging is gaining popularity in the food, pharmaceutical, and personal care industries. The ban on single-use plastics, as well as increased government investment in improving recycling facilities in the country, are expected to drive significant demand for flexible packaging products over the forecast period.
Beyond convenience, other factors such as sustainability, transparency, food safety, and food waste reduction influence the flexible packaging choice for meat, poultry, and seafood in the food industry. According to the Ministry of Industry and Information Technology and the National Bureau of Statistics of China, the country's food industry will generate total profits of approximately CNY 618.7 billion in 2021.
According to the Ministry of Health, Labor and Welfare (MHLW Japan), the volume share of generics in the Japanese prescription pharmaceuticals industry stood at roughly 79% as of September 2021. According to the United Nations COMTRADE database on international trade, Japan imported pharmaceutical products worth USD 37.29 billion in 2021.
This demand is predicted to expand as the country's increasingly aging population demands new treatments for connected ailments. Consequently, such developments are projected to favorably contribute to the market's growth.
Flexible plastic packaging solutions are in high demand in Germany due to the rising demand for fast-moving goods and a thriving e-commerce industry. The increasing demand for the general barrier, long life, and durable plastics in the healthcare industry is expected to benefit the country's market growth.
Rising international pressure to eliminate non-biodegradable plastics, as well as stringent government regulations on plastic use, are likely to provide an impetus for the development of biodegradable plastic packaging solutions and bio-plastic derived from sustainable sources.
The abundance of raw materials and rapid technological advancement in the field of flexible plastic packaging is expected to be major market drivers.
According to the Packaging Industry Association of India (PIAI), the Indian packaging market will be worth more than USD 204.81 billion by the end of 2025. Rising per capita spending and high demand for superior products with lightweight and durable, flexible plastic packaging that protects them from contamination drive market growth over the forecast period.
| Attributes | Details |
|---|---|
| India Market Value 2022 | USD 5.34 billion |
| India Market Value 2033 | USD 8.05 billion |
| India Market CAGR (2023 to 2033) | 4.7% |
| India Market Value 2022 | USD 5.34 billion |
Due to the presence of a few numbers of vendors holding a sizable portion of the industry, the flexible packaging market is only moderately fragmented. The top firms are using techniques like product innovation, mergers, and acquisitions to stay competitive in what looks to be a slightly saturated market. Amcor PLC, Mondi Group, Berry Global Inc, and Sealed Air Corporation are some of the industry's major players.
April 2022 - Mondi collaborated with French machine manufacturer Thimonnier to develop a recyclable package that reduces plastic waste. The companies created new liquid refill packaging that can be completely emptied. The berlingot sachet is made of coextruded polyethylene, a recyclable mono-material. When compared to rigid plastic bottles, the product weighs less and uses 75% less plastic. The refill solution can replace the current industry standard multilayer PVC refill containers, which are not recyclable.
Berry Global and LyondellBasell collaborated in October 2021 to advance the goal of sourcing 100% of its customer-facing packaging sustainably by 2026. The collaboration encourages consumers to switch from plastic-lined paper cups with limited recyclability to single-substrate, clear plastic drink cups that can be recycled by more people.
Coveris developed a new cereal liner solution with its technical capabilities in June 2021. The Cereal+ liner was designed to improve packer performance and shelf life. Coveris Cereal+ liner is made of fully recyclable polyethylene and protects, freshens, and extends the shelf life of cereals and dry foods packed in bag-in-box films.
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 4.8% from 2023 to 2033 |
| Base Year of Estimation | 2023 |
| Historical Data | 2017 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD billion and Volume in Units and F- CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, growth factors, Trends and Pricing Analysis |
| Key Segments Covered | By Product type, By Material Type, By Packaging, By End User Industry, By Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Middle East & Africa; Oceania |
| Key Countries Profiled | USA, Canada, Brazil, Mexico, Germany, Italy, France, United kingdom, Spain, Russia, China, Japan, India, GCC Countries, Australia |
| Key Companies Profiled | Amcor Ltd.; Constantia Flexibles Group GmbH; Berry Global Group, Inc.; Huhtamäki Oyj; Sonoco Products Company; Bemis Company, Inc.; Sealed Air Corporation; AR Packaging Group AB; Mondi Group; DS Smith Plc; CCL Industries Inc. |
| Customization & Pricing | Available upon Request |
The market value for 2023 is USD 36,978 million
Through 2033, the market sales may register a CAGR of 4.8%.
The market registered a 3.9% CAGR from 2018 to 2022.
Lack of optimization in the e-packaging sector may hinder market growth.
Films and wraps sector is be the key product type segment.
| Market Size, 2024 | USD 46.6 billion |
|---|---|
| Market Size, 2034 | USD 58.4 billion |
| Value CAGR (2024 to 2034) | 2.3% |
| Market Size 2023 | USD 302.5 billion |
|---|---|
| Market Size 2033 | USD 478.9 billion |
| Value CAGR (2023 to 2033) | 4.7% |
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