Flexible Packaging Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Product Type (Pouches, Rollstocks, Bags and Others (Blisters, Wraps, Sachet, etc.)), By Material Type (Plastic, Paper, Aluminium Foil and Others (Cellulose, Recycled Plastics & Laminates)), By Printing Technology (Flexography, Rotogravure, Digital Printing and Others (Offset Lithograp
Published Date: December - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Chemicals | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationFlexible Packaging Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Product Type (Pouches, Rollstocks, Bags and Others (Blisters, Wraps, Sachet, etc.)), By Material Type (Plastic, Paper, Aluminium Foil and Others (Cellulose, Recycled Plastics & Laminates)), By Printing Technology (Flexography, Rotogravure, Digital Printing and Others (Offset Lithograp
Global Flexible Packaging Market is projected to grow at an impressive rate through 2028 due to increasing demand of cosmetic and personal care industries.
Flexible packaging is more sustainable since it requires lesser resources, energy, and water during production and takes up less room in landfills after disposal. The demand for flexible packaging is also anticipated to increase during the projected period as more application sectors choose sustainable packaging solutions due to regulatory restrictions. Due to significant businesses in the application industry, the U.S. is a significant market for flexible packaging.
In France total revenue in the cosmetics segments amount to USD 2.54 billion in 2022.
Promising Demand from The Packaging Industry
. IBEF further notes that the food processing industry, which accounts for 32% of India's total food market and ranks fifth in production, consumption, and exports, is one of the country's most important industries, with 70% of revenues coming from retail.
Low-Cost Substitute for Metal
Due to its lightweight nature and outstanding durability, flexible plastic packaging is in high demand across various industries. Still, it is trendy in the food and beverage, electrical, consumer electronics, and e-commerce sectors. Alternative to metal in flexible packaging is high-performance plastics. These materials, such as PET, nylon, and EVOH, offer excellent barrier properties and can be used in a range of packaging applications. They are also lightweight and cost-effective, making them an attractive option for companies looking to reduce their packaging costs. Flexible plastic packaging replaces rigid packaging (metal packaging), although it offers high-barrier packaging options because of its great flexibility, superior durability, and long shelf life. Plastic and non-plastic rigid packaging, especially metal containers, were prone to leakage, corrosion, and breakage. Demand for flexible plastic packaging will increase as consumers' preferences for practical and light packaging grow. To further aid in replacing conventional rigid packaging, new recyclable, sustainable, and flexible plastic packaging choices will be launched by environmental legislation to meet customer needs.
Download Free Sample report Growing Technological Advancement for Sustainable Development
PepsiCo announced a long-term objective of using 50% recycled plastic in its bottles throughout the European region by 2030 and an interim goal of around 45% by 2025.
Recent Developments
- In July 2022, the United States, California passed legislation extending producer responsibility regulations and reducing plastic pollution. California must recycle 30% of all plastic packaging by January 2028, 40% by January 2030, and at least 65% by January 2032, according to the law SB 54. In addition, SB 54 mandates a 25% source reduction of single-use plastic waste compared to 2023 levels, which means that by 2032, the industry must have ceased to distribute an amount of plastic equal to 25% of the amount of plastic packaging that was made available in California during the 2023 economy.
- In April 2022, Amcor announced the addition
of new, eco-friendly High Shield laminates to its line of pharmaceutical
packaging. The new low-carbon packaging options help pharmaceutical companies
achieve their recyclability objectives while satisfying industry needs for high
barriers and performance. These new High Shield technologies offer options for
sachet, stick, and strip pharmaceutical packaging composed of paper- and
polyolefin-based materials that is more environmentally friendly. The
innovative material structure makes it possible for pharmaceutical companies to
be recyclable in accordance with local expectations, which helps them stand out
from the competition.
Production Capacities for Flexible Packaging
- In 2021, Berry Global Group, Inc. announced a more than $70 million investment to support consumer packaging film growth, mainly for e-commerce, food, and beverage applications. The expenditure supports new multi-layer blown film lines, infrastructure improvements, and other machinery that will be installed at various locations in the North American manufacturing system in 2021 and 2022.
- In 2019, Huhtamaki inaugurates its new,
state-of-the-art flexible packaging facility in Egypt. The new manufacturing
unit is owned and operated as a joint venture, of which Huhtamaki owns 75%. Mr.
Ayman Korra, Huhtamaki's joint venture partner in the Egyptian fibre packaging
business since 2003, owns the remaining 25%. The present investment, including
land purchase, facility construction, and machinery, is anticipated to be
approximately USD 25 million, with Huhtamaki's share at approximately USD 18
million.
Market Segmentation
Market players
Mondi Group, Huhtamäki Oyj, Berry Global, Inc, Uflex Ltd, DS Smith plc, Dow Packaging & Specialty Plastics, Constantia Flexibles, Aluflexpack Novi d.o.o, Clondalkin Group Holdings B.V. and Sealed Air Corporation are key market players.
|
Attribute |
Details |
|
Base
Year |
2022 |
|
Historic
Data |
2018 –
2021 |
|
Estimated
Year |
2023 |
|
Forecast
Period |
2024 – 2028 |
|
Quantitative
Units |
Revenue in USD Million, Volume in metric tons, and CAGR for 2018-2022
and 2023-2028 |
|
Report
Coverage |
Revenue
forecast, Volume Forecast, company share, competitive landscape, growth factors,
and trends |
|
Segments
Covered |
Product
Type Material
Type Printing
Technology Application |
|
Regional
scope |
North
America; Europe; Asia Pacific; South America; Middle East & Africa |
|
Country
scope |
United States, Canada, Mexico; China, India, Japan, South
Korea, Australia; Germany, France, United Kingdom, Italy, Spain; Brazil,
South Africa, UAE, Saudi Arabia, Turkey, and Egypt. |
|
Key
companies profiled |
Mondi
Group, Huhtamäki Oyj, Berry Global, Inc, Uflex Ltd, DS Smith plc, Dow
Packaging & Specialty Plastics, Constantia Flexibles, Aluflexpack Novi
d.o.o, Clondalkin Group Holdings B.V. and Sealed Air Corporation |
|
Customization
scope |
10% free report customization with purchase. Addition or
alteration to country, regional & segment scope. |
|
Pricing
and purchase options |
Avail
customized purchase options to meet your exact research needs. Explore purchase options |
|
Delivery
Format |
PDF and Excel through
Email (We can also provide the editable version of the report in PPT/Word
format on special request) |
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