(MENAFN- IMARC Group)
IMARC Group's report titled“ Flexible Packaging Market Report by Product Type (Printed Rollstock, Preformed Bags and Pouches, and Others), Raw Material (Plastic, Paper, Aluminium Foil, Cellulose), Printing Technology (Flexography, Rotogravure, Digital, and Others), Application (Food and Beverages, Pharmaceuticals, Cosmetics, and Others), and Region 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.
Factors Affecting the Growth of the Flexible Packaging Industry:
The growing awareness and concern for the environment are significant drivers in the flexible packaging market. Consumers and corporations are increasingly seeking eco-friendly solutions, pushing the industry towards materials that are lighter, result in less waste, and have a lower carbon footprint. Flexible packaging often uses fewer resources and energy to produce, can be designed to be more easily recyclable, or is made from biodegradable materials, aligning with global sustainability goals. The shift toward sustainable practices is not just a trend also a fundamental change, as regulations tighten, and consumer preferences increasingly favor environmentally responsible packaging. This transition supports waste reduction goals and caters to the rising eco-conscious consumer base, making sustainability a pivotal factor in the market's growth.
Changing Consumer Lifestyles:
The flexible packaging market is significantly driven by the consumer demand for convenience. The fast-paced lifestyle of modern consumers has elevated the need for easy-to-use, lightweight, and durable packaging options that also offer portability. Flexible packaging caters to these needs with resealable zips, improved barrier properties, and innovative designs that enhance the user experience, such as stand-up pouches and single-serve packs. Moreover, the rise in e-commerce has amplified the demand for flexible packaging, as it offers efficient solutions for the safe and cost-effective transportation of goods. The ability to customize and adapt quickly to market trends, such as the increasing demand for portion-controlled and on-the-go food products, further underscores the adaptability and appeal of flexible packaging in meeting consumer preferences and lifestyle needs.
Technological Advancements:
Technological advancements are crucial in driving the flexible packaging market forward. Innovations in material science, manufacturing processes, and packaging designs enhance the functionality, convenience, and efficiency of flexible packaging solutions. These advancements lead to the development of smarter, more resilient packaging that can extend shelf life, improve barrier properties, and offer better protection against factors like moisture, light, and oxygen. Additionally, technology enables more personalized and interactive packaging, incorporating elements such as QR codes and augmented reality, which can enhance brand engagement and user experience. The continuous investment in research and development to innovate and improve flexible packaging ensures its relevance in a rapidly evolving marketplace, meeting the demands for higher performance and more sophisticated packaging solutions.
Leading Companies Operating in the Global Flexible Packaging Industry:
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.
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Flexible Packaging Market Report Segmentation:
By Product Type:
Printed Rollstock Preformed Bags and Pouches Others
Printed rollstock holds the largest market share as it can be made from flexible films, such as polyethylene terephthalate (PET), polyethylene (PE), polypropylene (PP), aluminum foil, and laminates.
By Raw Material:
Plastic Paper Aluminium Foil Cellulose
Plastic represents the largest segment due to the flexibility, versatility, and cost-effectiveness it offers.
By Printing Technology:
Flexography Rotogravure Digital Others
Flexography accounts for the largest market share due to cost-effectiveness for high-volume printing.
By Application:
Food and Beverages Pharmaceuticals Cosmetics Others
Food and beverages dominate the market as flexible packaging is used to pack dairy, snacks, beverages, and frozen foods.
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
Global Flexible Packaging Market Trends:
At present, there has been a growing emphasis on sustainable packaging solutions across industries. Flexible packaging companies are increasingly investing in research and development to create eco-friendly alternatives, such as recyclable or compostable materials, bio-based plastics, and reduced packaging waste. Besides, digital printing technology has been gaining traction in the flexible packaging sector due to its ability to offer customization, shorter print runs, and faster turnaround times. This trend enables brands to enhance their packaging designs, incorporate variable data, and respond quickly to market demands.
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.
About Us:
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.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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