According to IMARC Group’s latest report, titled “Flexible Packaging Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027. the global flexible packaging market size reached US$ 124.9 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 162.4 Billion by 2027, exhibiting at a CAGR of 4.5% during 2022-2027.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Flexible packaging is primarily manufactured by using easily reformed materials that could be molded into different shapes. It is usually made by combining numerous materials, such as high-quality paper, film, aluminum foil, etc. These materials can be shaped into pouches, bags, liners, overwraps, etc. Consequently, flexible packaging is extensively used across diverse sectors, food processing, consumer products, cosmetics, pharmaceuticals, etc.
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The increasing demand for processed food items due to the on-the-go consumption habits is further augmenting the adoption of flexible packaging in the food sector. Furthermore, the rising consumer awareness towards several benefits of flexible packaging pertaining to food safety, effective permeability, longer shelf life, convenience, etc., is also propelling the market growth. The market is further catalyzed by numerous technological advancements leading to emergence of innovative and advanced product variants. A significant growth in the pharmaceutical and nutraceutical sectors are also bolstering the demand for flexible packaging. In the coming years, the growing popularity of sustainable and recyclable packaging alternatives will continue to spur the growth of the global flexible packaging market.
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List of Key Companies Covered in this Market Report:
- Amcor (NYSE: AMCR)
- Bemis Company
- Berry Global
- Mondi (LON: MNDI)
- Sealed Air (NYSE: SEE)
- Aluflexpack novi
- Bak Ambalaj Sanayi
- Constantia Flexibles
- Clondalkin Group
- DS Smith (LON: SMDS)
- Huhtamäki (HEL: HUH1V)
- Printpack and ProAmpac.
The report has segmented the market on the basis of product type, raw material, printed technology, application and geography.
Breakup by Product Type
- Printed Rollstock
- Preformed Bags and Pouches
Breakup by Raw Material
- Aluminium Foil
Breakup by Printing Technology
Breakup by Application
- Food and Beverages
Breakup by Geography:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East & Africa
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