(MENAFN- IMARC Group)
The latest report by IMARC Group, titled“ Flexible Packaging Market: Global industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032 “, The global flexible packaging market size reached US$ 136.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 190.5 Billion by 2032, exhibiting a growth rate (CAGR) of 3.7% during 2024-2032.
Flexible packaging is a versatile type of packaging developed to adapt to the shape and size of the contents it holds. It is commonly used for numerous products, including food, beverages, pharmaceuticals, and personal care items. It is typically produced from plastic, foil, paper, or a combination. It can provide a barrier against external elements, such as moisture, light, and oxygen, which helps keep the freshness and quality of the packaged products. Additionally, flexible packaging is lightweight and often takes up less space than conventional rigid packaging, which can lead to reduced transportation costs and environmental benefits. It also allows for various convenient features, including resealable zippers, spouts, and easy-tear openings, enhancing user-friendliness and product accessibility. Nowadays, it can be customized with vibrant graphics and branding elements, making it an effective tool for marketing and product differentiation.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/flexible-packaging-market/requestsample
Flexible Packaging Trends and Drivers:
The flexible packaging is primarily driven by the rising popularity of flexible packaging as a sustainable option. In addition, flexible packaging materials are lighter and require less energy to produce, reducing carbon emissions during transportation and influencing market growth. Also, innovations in recyclable and biodegradable flexible packaging materials align with consumer demands for eco-friendly choices, thus augmenting the market growth. Moreover, the widespread adoption of flexible packaging for its superior barrier properties, including protection against moisture, oxygen, and ultraviolet (UV) radiation, extends the shelf life of products, reduces food waste, and enhances consumer satisfaction, representing another major growth-inducing factor. Besides this, manufacturers can tailor flexible packaging to meet specific product requirements with customization options, including numerous sizes, shapes, and printing techniques, which allows businesses to differentiate their products and meet consumer preferences effectively, accelerating the market growth. Furthermore, the rising product use for branding and product information by companies that use vibrant graphics and designs to make their products stand out on store shelves, which is visually appealing packaging and can attract consumers and strengthen brand recognition, thus creating a positive market outlook.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Product Type:
Printed Rollstock Preformed Bags and Pouches Others
Breakup by Raw Material:
Plastic Paper Aluminium Foil Cellulose
Breakup by Printing Technology:
Flexography Rotogravure Digital Others
Breakup by Application:
Food and Beverages Pharmaceuticals Cosmetics Others
Market Breakup by Region:
North America (United States, Canada) Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others) Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others) Latin America (Brazil, Mexico, Others) Middle East and Africa
Competitive Landscape:
Amcor Limited Bemis Company Berry Global Group, Inc Mondi Limited Sealed Air Aluflexpack AG Bak Ambalaj Sanayi Constantia Flexibles Clondalkin Group Danaflex Group DS Smith Plc Glenroy, Inc Huhtamaki PPL Limited Printpack, Inc. ProAmpac Intermediate, Inc.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARCs information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the companys expertise.
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