Flexible Packaging Market Overview:

Worldwide flexible packaging market volume was predicted at 19894 kilo tons in year 2020. Rising food requirements on account of rising population in region of Asia Pacific specifically in China and India is predicted to have a positive effect on the market in next few years.  

Increasing use of the products on account of different benefits that include container variety, light weight, less raw material required and easy disposal is predicted to propel the demand over the estimated period. However, volatility of raw materials costs that comprise plastic is estimated to pose a threat to the growth of flexible packaging market.

Increasing demand for compact and flexible packaging has provided   momentum   to flexible pouch and bag section motivating entrance of new market competitors in coming years. These materials have high market potential due to customer choice, less shipping charges and low storage needs.

Strict rules and regulations related to food contact application and pharmaceutical products are predicted to be a main challenge for manufacturers of the product   over the estimated period.  The product is estimated to replace rigid packaging materials over the projected time span. The product is predicted to replace rigid packaging materials over the projected time span due to heat insulation & sealing, aroma retention and moisture blockade characteristics.

Active lifestyle, geographical shifts and increasing sustainability market trends have been stimulating  development & modernization  of these materials thus offering marketing  avenues in key business sectors  encompassing food & beverages as well as cosmetics industry.  Robust production base of the cosmetic  market  combined with rising demand in countries like France, Germany, UK and Italy is projected to enhance demand in Europe over the predicted time span.

Many producers in this business sector intend to substitute synthetic substance with bio-based items as they provide different environmental and functional advantages over petro plastics. However, high charges of these items will act as a main challenge for manufacturers in future. 

Flexible Packaging Market By Application:

Food & Beverage was the largest application section, accounting for eighty percent of worldwide market share in year 2020. Increasing demand for packaged foods encompassing frozen meals, cake mixes, cooked meals and snacks are projected to force producers to increase the capacity of production thus enhancing the demand of the products over the estimated period.

Pharmaceutical was the second biggest application section, and was valued over sixteen thousand million US dollars in year 2020. Increasing incidences of lifestyle related diseases include diabetes, fatness and hyper tension among the working population specifically in developing economies of BRICS is estimated to boost   the demand of pharmaceutical items which in turn will optimistically affect flexible packaging market  in future.

Cosmetics application was expected over nine hundred and eighty kilo tons in year 2020. Increasing disposable income combined with rising market penetration of the competitors like Reckitt Benckiser and Procter & Gamble through new product launches in India and China is projected to motivate the growth of cosmetics sector. 

Flexible Packaging Market By Raw Material :

Plastics accounted for a large market share with revenue crossing 1,60,000 million US dollars in year 2020. These are mainly employed in food & beverage packaging. Growth of the food & beverages industry specifically in the region of Asia Pacific is predicted to have an optimistic effect on the business sector in future.

Bioplastics was one of the key raw materials used by flexible packaging producers. Rising demand for bio-based PLA films in the confectionary, food, bakery and snack packaging applications due to easy biodegradable nature and recyclability is  predicted to be a main market driver in future.

Paper was also used as a main raw material and is predicted to observe major gains at a CAGR rate of 3.2% from year 2021 to year 2029, in terms of size. Increasing use of the product in the manufacturing of tetra packs, bags and pouches due to less  cost and low raw material need , is predicted to consequently drive the  growth of flexible packaging market.

Flexible Packaging Market By Region:

Flexible Packaging Market of Asia Pacific  region accounted  for over thirty five percent of world market share in year 2020. Industrialization at a rapid pace leading to establishment of many cosmetics as well as food & beverage producing units in China and India is predicted to have a positive effect  on the market growth in next few years.

Europe is the second largest section, valued at over fifty four thousand seven hundred million US dollars in year 2020. Increasing healthcare industry in Europe is predicted to fuel demand for pharmaceutical industry   influencing the growth of flexible packaging market over the estimated period. 

Competitive Landscape:

The key industry players include Constantia Flexibles, Bischof & Klein, Fujimori Kogyo and Sudpack. The world wide flexible packaging market share is characterized by further integration through production of raw materials, flexible packaging manufacturing and distribution to various application sectors.  Worldwide business sector is highly bifurcated due to the presence of many market players. Key companies are expected to shift their production base to developing countries including India and China due to low production and less labor charges. Key producers are engaged in research and development to gain advantage over their competitors.