Flexible Packaging Market Size Worth $373.3 Billion By 2030: Grand View Research, Inc.

SAN FRANCISCO, July 12, 2022 /PRNewswire/ -- The global flexible packaging market size is expected to reach USD 373.3 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.5% from 2022 to 2030. Growing consumer driven demand for packaged food and beverage products owing to its convenience and ease of consumption is expected to drive market growth.

Key Industry Insights & Findings from the report:

• Plastics dominated the flexible packaging industry with share of 70.1% in 2021 owing to the property of the material for being modified by co-polymerization to match exact packaging requirements of various products along with easy availability and cost effectiveness.
• The food and beverages application segment dominated the market and accounted for revenue share of 56.0% in 2021 as these packaging solution offer easy transportation, convenient storage, and disposal for food and beverage products. Growing consumption of snacks like chips, sausages, and bread, coupled with the expanding food retail industry and new product launches in emerging markets, is expected to increase the demand for flexible packaging.
• The bioplastic raw material segment is expected to witness the highest CAGR of 6.0% during the forecast period. Prevalence of stringent government regulations particularly in North America and Europe is expected to positively impact the demand for environment friendly material, thus segmenting the growth for the segment.
• Asia Pacific accounted for highest market share in 2021 and is also expected to progress at the highest CAGR over the forecast period owing to high growth in the application industries. In China and India, the food and beverage industry is expected to grow due to population growth, rising disposable incomes, and rapid urbanization, thus benefitting the sales for flexible packaging in the region.
• Key companies are increasingly offering custom packaging solutions to end-use companies; besides, key companies are increasingly focusing on the use of recycled materials as they offer complete sustainability. New product developments, with mergers and acquisitions, and expansion of production capacity are some of the strategies adopted by players

Read 135 page market research report for more Insights, "Flexible Packaging Market Size, Share & Trends Analysis Report By Raw Material (Plastics, Paper, Metal, Bioplastics), By Application (Food & Beverages, Pharmaceutical, Cosmetics), By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Flexible Packaging Market Growth & Trends

Flexible packaging products are lightweight, take less space in transportation, are cheaper to manufacture, and use less plastic, thus present more environmentally friendly profile than rigid products. Increasing emphasis on use of sustainable packaging products globally is expected to bolster the demand for flexible packaging products during the forecast period.

The global cosmetic and personal care industry is characterized by the growing awareness pertaining to health and wellness coupled with increasing demand for natural, chemical-free, and organic products. Thus, rising green consciousness are expected to drive the demand for organic and natural skincare products over the forecast period, which, in turn, is anticipated to boost the demand for flexible packaging solution such as plastic tubes and pouches.

Growing demand for cost effective shipping of commodities is expected to augment growth of flexible packaging products such as flexitanks over the forecast period. Moreover, increase in trade activities in countries of Asia Pacific is expected to drive market growth in the region over the forecast period.

Flexible Packaging Market Segmentation

Grand View Research has segmented the global flexible packaging market on the basis of raw material, application, and region:

Flexible Packaging Market - Raw Material Outlook (Revenue, USD Billion, 2017 - 2030)

• Plastic
• Paper
• Metal
• Bioplastic

Flexible Packaging Market - Application Outlook (Revenue, USD Billion, 2017 - 2030)

• Food & Beverages
• Pharmaceutical
• Cosmetics
• Others

Flexible Packaging Market - Regional Outlook (Revenue, USD Billion, 2017 - 2030)

• North America
• U.S.
• Canada
• Mexico
• Europe
• U.K.
• Germany
• France
• Italy
• Spain
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• Central & South America
• Brazil
• Middle East & Africa
• South Africa

List of Key Players of Flexible Packaging Market

• Amcor plc
• Mondi
• Sealed Air
• CONSTANTIA
• Coveris
• Goglio SpA
• ProAmpac
• GUALAPACK S.P.A
• Huhtamaki Group
• Smurfit Kappa

Check out more related studies published by Grand View Research:

• Cold Chain Packaging Market - The global cold chain packaging market size is anticipated to reach USD 63.1 billion by 2027, expanding at a CAGR of 19.4% from 2020 to 2027, according to a new report by Grand View Research, Inc. The key drivers attributing to the market expansion include a significant boost in demand for cold chain packaging solutions from the pharmaceutical industry. Amidst the coronavirus pandemic, the trade and transit of temperature-sensitive drugs, medicines, and test samples are drastically increasing. Along with the pharmaceuticals market, the packaging market is anticipated to witness significant growth. The overall market growth is profoundly influenced by the high demand for perishable goods worldwide and the availability of fresh food and frozen food supplies.
• Sealing & Strapping Packaging Tapes Market - The global sealing and strapping packaging tapes market size is expected to reach USD 27.1 billion by 2027, according to a new report by Grand View Research Inc. The market is anticipated to expand at a revenue-based CAGR of 4.8% during the forecast period. The rapidly emerging trend of folding carton packaging is expected to boost the demand for the tapes, thereby positively influence the overall market growth.
• Anti-Counterfeit Packaging Market - The global anti-counterfeit packaging market size is expected to reach USD 184.87 billion by 2025, according to a new report by Grand View Research, Inc. Increasing concerns pertaining to the losses incurred by goods manufacturers through the sales of counterfeit products is expected to drive the industry growth.

Browse through Grand View Research's  Advanced Interior Materials Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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