The Flexible Plastic Packaging Market size was USD 204.50 billion in 2023 and is expected to reach USD 536.01 billion by 2031 and grow at a CAGR of 12.8 % over the forecast period of 2024-2031.
Plastics are organic substances that have a distinct molecular weight and are malleable enough to assume a variety of shapes. They are made of various synthetic organic elements. Plastic typically costs less and performs well. Plastic is a recyclable material that helps the environment by using less energy and producing less waste.
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Consumer goods, including everything from food items and electronics to large business machinery and equipment, are widely accepted and allowed to be packaged in plastic. It's a reliable and cost-effective packaging option that many companies use. With the advancement of technology and growing environmental consciousness, the plastic packaging industry has matured.
Plastic packaging has become an essential part of many businesses, due to its innovative design which makes packaging looks more attractive. It also serves as a means of managing brand identity and variation as well as informing customers about the product. Protective plastic packaging is used in the transportation of goods that are challenging to transport.
KEY DRIVERS:
Expansion of manufacturing process across industries
The expansion of manufacturing processes in a number of industries, including food and beverage, chemicals, and pharmaceuticals, is a major driver of the plastic packaging market. The market's expansion is being aided by the increase in end-users for packaging solutions, such as the pet-care industry's demand for sustainable plastic packaging. Demand for environmentally friendly, recyclable, and reusable sustainable packaging solutions is rising. Due to the increasing demand for sustainable packaging options, market players have been forced to concentrate on creating new materials and packaging options that meet these requirements.
The market will be driven by cost efficiency and extended product shelf life.
Increase in e-commerce and online retail market.
RESTRAIN:
Alternatives to conventional packaging that are environmentally friendly are readily available.
The growth of the plastic packaging market is observed to be constrained by the availability of environmentally friendly packaging alternatives like paper, metal, and bioplastics. Due to the growing consumer demand for environmentally friendly packaging options, the alternatives are becoming more widely accessible. Sustainable materials are becoming more popular, which is limiting the market's growth for plastic packaging in the packaging sector. Additionally, many companies and industries are emphasizing sustainability in their branding and marketing initiatives to improve the reputation of their brands; this is seen as impeding the expansion of the plastic packaging market.
OPPORTUNITY:
Innovation in plastic packaging
Companies are reorienting their business practices toward circularity and using novel plastic technologies to create sustainable and recyclable products that have specific properties like oxygen, puncture, and chemical resistance, as a result of stringent government regulations, shifting consumer preferences, and environmental pressures.
Emerging market of Asia Pacific Region
CHALLENGES:
Recycling of Plastic and waste material
There is unavailability of good recycling technology which affects the environment as it can lead to more production of harmful waste and less capacity to recycle the waste material. Polymers have different melting points hence difficult to sort the waste material and recycle it.
Breaking the supply chain complexity.
Along with the widespread closure of packaging and production facilities in both Ukraine and Russia, the war has resulted in the departure of over 300 significant Western corporations.
The supply chain for the raw materials used to make flexible plastic packaging was affected by the conflict between Russia and Ukraine. Polyethylene, a crucial component in flexible plastic packaging, is one of the main raw materials exported from Ukraine. Interruptions in the supply of these raw materials resulted in price volatility, scarcity, or the need to find alternative suppliers, which had an impact on the availability and production of flexible plastic packaging.
The conflict may result in heightened border controls, security precautions, and administrative barriers, which affected the import and export of goods, including flexible plastic packaging, in the affected regions.
The flexible plastic packaging market has not been affected by Covid-19. Plastic has huge demand in all industries, including healthcare, pharmaceuticals, packaging, and many others. Plastic is considered to be safe for health care protection, also it is cost-efficient and lasts longer, and also easy to handle. Plastic had a huge demand in Covid-19 for preparing personal protective equipment. The plastic helps in the spread of diseases and keeps the product safe without spoiling it.
China which is considered to be the leader in the packaging industry lost many of its clients. But this gave rise to the packaging industry in India as businesses were shifting to India.
By Product Type
Pouches
Bags
Rollstock
Films & Wraps
Others
By Raw Material
Plastic
Metal
Other
By Printing Technology
Rotogravure
Flexography
Other
By Application
Food
Beverages
Personal Care & Cosmetics
Pharmaceutical & Healthcare
Others
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Asia Pacific region holds the largest market share of the global plastic packaging market. This is because of the high consumption of packaged food and growing consumerism, so this region is dominating the global plastic packaging market. The growth of end-user industries of healthcare and pharmaceuticals, and electronics, has also given a boost to the rise of the market in the Asia Pacific region. The high percentage of sales is seen in the Asia Pacific region followed by Europe, and North America.
Europe is an emerging market for plastic packaging products due to the rising demand for sustainable packaging in the pharmaceutical industry. In order to support the market's expansion, there are also cutting-edge technologies for packaging solutions.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
South Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of the Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin American
Some major players in the flexible plastic packaging market are Amcor Ltd, Berry Global Group Inc, Sonoco Products Company, Sealed Air Corporation, DS Smith, Constantia Flexibles, Transcontinental Inc, Mondi Group, Huhtamaki Oyj, Westrock Company, and other players.
Amcor to become the first flexible packaging company to offer certified-circular plastics in Australia and New Zealand.
With the help of the matching grant, Flexpak UK has developed a recyclable plastic film that is half the thickness of human hair and is extremely thin. The innovative work will lessen the amount of plastic packaging needed to preserve the life of fresh produce and stop single-use plastics from ending up in landfills.
The partnership was announced in June 2023 by Ispak Ambalaj, the top flexible packaging company in Turkey, and TIPA Compostable Packaging.
| Report Attributes | Details |
| Market Size in 2023 | US$ 204.50 Bn |
| Market Size by 2031 | US$ 536.01 Bn |
| CAGR | CAGR of 12.8 % From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Product Type (Pouches, Bags, Rollstock, Films & Wraps, Others) • By Raw Material (Plastic, Metal, Other) • By Printing Technology (Rotogravure, Digital Printing, Flexography, Other) • By Application (Food, Beverages, Personal Care & Cosmetics, Pharmaceutical & Healthcare, Others) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Amcor Ltd, Berry Global Group Inc, Sonoco Products Company, Sealed Air Corporation, DS Smith, Constantia Flexibles, Transcontinental Inc, Mondi Group, Huhtamaki Oyj, Westrock Company |
| Key Drivers | • Expansion of manufacturing process across industries |
| Market Opportunities | • Innovation in plastic packaging |
Ans: Flexible Plastic Packaging Market is expected to grow at a CAGR of 12.8 % over the forecast period of 2023-2030.
Ans: The Flexible Plastic Packaging Market size was USD 181.3 billion in 2022 and is expected to reach USD 259.80 billion by 2030.
Ans: Expansion of manufacturing processes across industries and The market will be driven by cost efficiency and extended product shelf life are the major key drivers for the global flexible plastic packaging market.
Ans: Alternatives to conventional packaging that are environmentally friendly are readily available and also the increased cost of raw materials is the major restrain in the growth of the flexible plastic packaging market.
Ans: Asia Pacific region is dominating the plastic packaging due to increasing consumption of packaged foods, followed by Europe.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of Russia-Ukraine War
4.2 Impact of Covid-19
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Flexible Plastic Packaging Market Segmentation, By Raw Material
8.1 Pouches
8.2 Bags
8.3 Rollstock
8.4 Films & Wraps
8.5 Others
9. Flexible Plastic Packaging Market Segmentation, By Packaging
9.1 Plastic
9.2 Metal
9.3 Other
10. Flexible Plastic Packaging Market Segmentation, By Application
10.1 Rotogravure
10.2 Digital Printing
10.3 Flexography
10.4 Other
11. Flexible Plastic Packaging Market by Interface Type
11.1 Food
11.2 Beverages
11.3 Personal Care & Cosmetics
11.4 Pharmaceutical & Healthcare
11.5 Others
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 North America Flexible Plastic Packaging Market by Country
12.2.2North America Flexible Plastic Packaging Market By Raw Material
12.2.3 North America Flexible Plastic Packaging Market by Packaging
12.2.4 North America Flexible Plastic Packaging Market by Application
12.2.5 North America Flexible Plastic Packaging Market by Interface Type
12.2.6 USA
12.2.6.1 USA Flexible Plastic Packaging Market By Raw Material
12.2.6.2 USA Flexible Plastic Packaging Market by Packaging
12.2.6.3 USA Flexible Plastic Packaging Market by Application
12.2.6.4 USA Flexible Plastic Packaging Market by Interface Type
12.2.7 Canada
12.2.7.1 Canada Flexible Plastic Packaging Market By Raw Material
12.2.7.2 Canada Flexible Plastic Packaging Market by Packaging
12.2.7.3 Canada Flexible Plastic Packaging Market by Application
12.2.7.4 Canada Flexible Plastic Packaging Market by Interface Type
12.2.8 Mexico
12.2.8.1 Mexico Flexible Plastic Packaging Market By Raw Material
12.2.8.2 Mexico Flexible Plastic Packaging Market by Packaging
12.2.8.3 Mexico Flexible Plastic Packaging Market by Application
12.2.8.4 Mexico Flexible Plastic Packaging Market by Interface Type
12.3 Europe
12.3.1 Europe Flexible Plastic Packaging Market by Country
12.3.2 Europe Flexible Plastic Packaging Market By Raw Material
12.3.3 Europe Flexible Plastic Packaging Market by Packaging
12.3.4 Europe Flexible Plastic Packaging Market by Application
12.3.5 Europe Flexible Plastic Packaging Market by Interface Type
12.3.6 Germany
12.3.6.1 Germany Flexible Plastic Packaging Market By Raw Material
12.3.6.2 Germany Flexible Plastic Packaging Market by Packaging
12.3.6.3 Germany Flexible Plastic Packaging Market by Application
12.3.6.4 Germany Flexible Plastic Packaging Market by Interface Type
12.3.7 UK
12.3.7.1 UK Flexible Plastic Packaging Market By Raw Material
12.3.7.2 UK Flexible Plastic Packaging Market by Packaging
12.3.7.3 UK Flexible Plastic Packaging Market by Application
12.3.7.4 UK Flexible Plastic Packaging Market by Interface Type
12.3.8 France
12.3.8.1 France Flexible Plastic Packaging Market By Raw Material
12.3.8.2 France Flexible Plastic Packaging Market by Packaging
12.3.8.3 France Flexible Plastic Packaging Market by Application
12.3.8.4 France Flexible Plastic Packaging Market by Interface Type
12.3.9 Italy
12.3.9.1 Italy Flexible Plastic Packaging Market By Raw Material
12.3.9.2 Italy Flexible Plastic Packaging Market by Packaging
12.3.9.3 Italy Flexible Plastic Packaging Market by Application
12.3.9.4 Italy Flexible Plastic Packaging Market by Interface Type
12.3.10 Spain
12.3.10.1 Spain Flexible Plastic Packaging Market By Raw Material
12.3.10.2 Spain Flexible Plastic Packaging Market by Packaging
12.3.10.3 Spain Flexible Plastic Packaging Market by Application
12.3.10.4 Spain Flexible Plastic Packaging Market by Interface Type
12.3.11 The Netherlands
12.3.11.1 Netherlands Flexible Plastic Packaging Market By Raw Material
12.3.11.2 Netherlands Flexible Plastic Packaging Market by Packaging
12.3.11.3 Netherlands Flexible Plastic Packaging Market by Application
12.3.11.4 Netherlands Flexible Plastic Packaging Market by Interface Type
12.3.12 Rest of Europe
12.3.12.1 Rest of Europe Flexible Plastic Packaging Market By Raw Material
12.3.12.2 Rest of Europe Flexible Plastic Packaging Market by Packaging
12.3.12.3 Rest of Europe Flexible Plastic Packaging Market by Application
12.3.12.4 Rest of Europe Flexible Plastic Packaging Market by Interface Type
12.4 Asia-Pacific
12.4.1 Asia Pacific Flexible Plastic Packaging Market by Country
12.4.2 Asia Pacific Flexible Plastic Packaging Market By Raw Material
12.4.3 Asia Pacific Flexible Plastic Packaging Market by Packaging
12.4.4 Asia Pacific Flexible Plastic Packaging Market by Application
12.4.5 Asia Pacific Flexible Plastic Packaging Market by Interface Type
12.4.6 Japan
12.4.6.1 Japan Flexible Plastic Packaging Market By Raw Material
12.4.6.2 Japan Flexible Plastic Packaging Market by Packaging
12.4.6.3 Japan Flexible Plastic Packaging Market by Application
12.4.6.4 Japan Flexible Plastic Packaging Market by Interface Type
12.4.7 South Korea
12.4.7.1 South Korea Flexible Plastic Packaging Market By Raw Material
12.4.7.2 South Korea Flexible Plastic Packaging Market by Packaging
12.4.7.3 South Korea Flexible Plastic Packaging Market by Application
12.4.7.4 South Korea Flexible Plastic Packaging Market by Interface Type
12.4.8 China
12.4.8.1 China Flexible Plastic Packaging Market By Raw Material
12.4.8.2 China Flexible Plastic Packaging Market by Packaging
12.4.8.3 China Flexible Plastic Packaging Market by Application
12.4.8.4 China Flexible Plastic Packaging Market by Interface Type
12.4.9 India
12.4.9.1 India Flexible Plastic Packaging Market By Raw Material
12.4.9.2 India Flexible Plastic Packaging Market by Packaging
12.4.9.3 India Flexible Plastic Packaging Market by Application
12.4.9.4 India Flexible Plastic Packaging Market by Interface Type
12.4.10 Australia
12.4.10.1 Australia Flexible Plastic Packaging Market By Raw Material
12.4.10.2 Australia Flexible Plastic Packaging Market by Packaging
12.4.10.3 Australia Flexible Plastic Packaging Market by Application
12.4.10.4 Australia Flexible Plastic Packaging Market by Interface Type
12.4.11 Rest of Asia-Pacific
12.4.11.1 APAC Flexible Plastic Packaging Market By Raw Material
12.4.11.2 APAC Flexible Plastic Packaging Market by Packaging
12.4.11.3 APAC Flexible Plastic Packaging Market by Application
12.4.11.4 APAC Flexible Plastic Packaging Market by Interface Type
12.5 The Middle East & Africa
12.5.1 The Middle East & Africa Flexible Plastic Packaging Market by Country
12.5.2 The Middle East & Africa Flexible Plastic Packaging Market By Raw Material
12.5.3 The Middle East & Africa Flexible Plastic Packaging Market by Packaging
12.5.4 The Middle East & Africa Flexible Plastic Packaging Market by Application
12.5.5 The Middle East & Africa Flexible Plastic Packaging Market by Interface Type
12.5.6 Israel
12.5.6.1 Israel Flexible Plastic Packaging Market By Raw Material
12.5.6.2 Israel Flexible Plastic Packaging Market by Packaging
12.5.6.3 Israel Flexible Plastic Packaging Market by Application
12.5.6.3 Israel Flexible Plastic Packaging Market by Interface Type
12.5.7 UAE
12.5.7.1 UAE Flexible Plastic Packaging Market By Raw Material
12.5.7.2 UAE Flexible Plastic Packaging Market by Packaging
12.5.7.3 UAE Flexible Plastic Packaging Market by Application
12.5.7.4 UAE Flexible Plastic Packaging Market by Interface Type
12.5.8 South Africa
12.5.8.1 South Africa Flexible Plastic Packaging Market By Raw Material
12.5.8.2 South Africa Flexible Plastic Packaging Market by Packaging
12.5.8.3 South Africa Flexible Plastic Packaging Market by Application
12.5.8.4 South Africa Flexible Plastic Packaging Market by Interface Type
12.5.9 Rest of Middle East & Africa
12.5.9.1 Rest of Middle East & Asia Flexible Plastic Packaging Market By Raw Material
12.5.9.2 Rest of Middle East & Asia Flexible Plastic Packaging Market by Packaging
12.5.9.3 Rest of Middle East & Asia Flexible Plastic Packaging Market Application
12.5.9.4 Rest of Middle East & Asia Flexible Plastic Packaging Market by Interface Type
12.6 Latin America
12.6.1 Latin America Flexible Plastic Packaging Market by Country
12.6.2 Latin America Flexible Plastic Packaging Market By Raw Material
12.6.3 Latin America Flexible Plastic Packaging Market by Packaging
12.6.4 Latin America Flexible Plastic Packaging Market by Application
12.6.5 Latin America Flexible Plastic Packaging Market by Interface Type
12.6.6 Brazil
12.6.6.1 Brazil Flexible Plastic Packaging Market By Raw Material
12.6.6.2 Brazil Africa Flexible Plastic Packaging Market by Packaging
12.6.6.3 Brazil Flexible Plastic Packaging Market by Application
12.6.6.4 Brazil Flexible Plastic Packaging Market by Interface Type
12.6.7 Argentina
12.6.7.1 Argentina Flexible Plastic Packaging Market By Raw Material
12.6.7.2 Argentina Flexible Plastic Packaging Market by Packaging
12.6.7.3 Argentina Flexible Plastic Packaging Market by Application
12.6.7.4 Argentina Flexible Plastic Packaging Market by Interface Type
12.6.8 Rest of Latin America
12.6.8.1 Rest of Latin America Flexible Plastic Packaging Market By Raw Material
12.6.8.2 Rest of Latin America Flexible Plastic Packaging Market by Packaging
12.6.8.3 Rest of Latin America Flexible Plastic Packaging Market by Application
12.6.8.4 Rest of Latin America Flexible Plastic Packaging Market by Interface Type
13 Company Profile
13.1 Amcor Ltd
13.1.1 Market Overview
13.1.2 Financials
13.1.3 Products/Services/Offerings
13.1.4 SWOT Analysis
13.1.5 The SNS View
13.2 Berry Global Group Inc
13.2.1 Market Overview
13.2.2 Financials
13.2.3 Products/Services/Offerings
13.2.4 SWOT Analysis
13.2.5 The SNS View
13.3 , Sonoco Products Company
13.3.1 Market Overview
13.3.2 Financials
13.3.3 Products/Services/Offerings
13.3.4 SWOT Analysis
13.3.5 The SNS View
13.4 Sealed Air Corporation
13.4.1 Market Overview
13.4.2 Financials
13.4.3 Products/Services/Offerings
13.4.4 SWOT Analysis
13.4.5 The SNS View
13.5 DS Smith
13.5.1 Market Overview
13.5.2 Financials
13.5.3 Products/Services/Offerings
13.5.4 SWOT Analysis
13.5.5 The SNS View
13.6 Constantia Flexibles
13.6.1 Market Overview
13.6.2 Financials
13.6.3 Products/Services/Offerings
13.6.4 SWOT Analysis
13.6.5 The SNS View
13.7 Transcontinental Inc
13.7.1 Market Overview
13.7.2 Financials
13.7.3 Products/Services/Offerings
13.7.4 SWOT Analysis
13.7.5 The SNS View
13.8 Mondi Group
13.8.1 Market Overview
13.8.2 Financials
13.8.3 Products/Services/Offerings
13.8.4 SWOT Analysis
13.8.5 The SNS View
13.9 Huhtamaki Oyj
13.9.1 Market Overview
13.9.2 Financials
13.9.3 Product/Services/Offerings
13.9.4 SWOT Analysis
13.9.5 The SNS View
13.10 Westrock Company
13.10.1 Market Overview
13.10.2 Financials
13.10.3 Product/Services/Offerings
13.10.4 SWOT Analysis
13.10.5 The SNS View
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments
15. USE Cases and Best Practices
16. Conclusion
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