Global Flexible Packaging Market Is Expected To Witness High Growth

Flexible Packaging Market
Flexible Packaging Market 


The global Flexible Packaging Market is estimated to be valued at US$ 68.5 Bn in 2022 and is expected to exhibit a CAGR of 4.6% over the forecast period from 2022 to 2030, as highlighted in a new report published by Coherent Market Insights.


Market Overview:
Flexible packaging products provide lightweight, cost-effective and sustainable packaging solutions for food, beverage, cosmetic and pharmaceutical industries. Flexible packaging helps extend shelf life of products and offer portion size convenience to consumers.

Market key trends:
One of the key trends driving growth of the flexible packaging market is the increasing demand for packaged foods and beverages. Flexible packaging is widely used to package snacks, ready-to-eat meals and various food and beverage products. Flexible packaging allows manufacturers to deliver portion controlled and customized packages as per demand of consumers. The flexibility of materials also allows packagers to efficiently pack various shapes and sizes of products. Flexible packaging provides an effective solution for packing and branding of consumer goods.

Segment Analysis
The global flexible packaging market is segmented into pouch, bag, and others. The pouch segment dominated the market in 2021 and accounted for the largest revenue share of over 35%. Pouches are highly popular for packaging various food products such as coffee, cereals, snacks, and powdered drink mixes. They provide good barrier protection and maintain freshness of products for a longer duration. Pouches occupy less space and are lightweight, which helps reduce logistics costs. Their re-sealability also allows consumers to use the product multiple times.

Key Takeaways
The global flexible packaging market is expected to witness high growth, exhibiting a CAGR of 4.6% over the forecast period from 2022 to 2030, due to increasing demand for flexible packaging from the food & beverage industry.

Regional Analysis
Regionally, North America held the largest share of the flexible packaging market in 2021. However, Asia Pacific is expected to grow at the fastest rate during the forecast period. Rapid urbanization and adoption of Western lifestyles have increased the demand for packaged and convenience food in countries such as China and India, driving the growth of flexible packaging in Asia Pacific.

Key Players
Key players operating in the flexible packaging market are Amcor Limited, Bemis Company, Sealed Air Corporation, Berry Plastics Group, Inc., Mondi Group, Sonoco Products Co., Huhtamäki Oyj, Constantia Flexibles Gmbh, Ampac Holdings, Llc, Bischof + Klein International, Wipak Group, AR Packaging, Goglio Group, Schur Flexibles, Clondalkin Group, Flair Flexible Packaging Solution Cellpack Packaging, and Südpack Verpackungen. Amcor Limited is one of the leading players in the market, with a strong focus on innovation and sustainability.

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