Flexible Packaging Market Size, Share, Growth, Trends, and Global Industry Analysis: By Packaging Type (Pouches, Roll Stock, Bags, Films & Wraps, and Others), By Material (Plastic, Paper, and Metal), By Printing Technology (Rotogravure, Flexography, Digital Printing, and Others), By End User (Food Industry, Beverages Industry, Pharmaceutical & Healthcare, Personal Care & Cosmetics, and Others), and Region Forecast 2019-2030

Flexible Packaging Market size was valued at USD 257.3 billion in 2023 and is expected to reach a value of USD 343.2 billion by 2030 growing at a CAGR of 4.2%  from 2024-2030. The driving factors of market are increased demand for lightweight and sustainable packing solutions, consumer preference for convenience and on-the-go products, and increased growth in e-commerce. A few factors that have led to restraints include growing environmental concerns associated with plastic waste and recycling hurdles. From this context, opportunities emerged as environmentally friendly materials, biodegradable solutions, and innovation in smart packaging technologies. The key trends include sustainable packaging, increased usage of recyclable materials, and the application of digital printing for customized packaging. A reduction in carbon footprints, along with an improvement in the shelf life of a product, is also giving impetus to the growth of the market.

Key Takeaways:

• North America dominates due to advanced retail infrastructure and the growing e-commerce sector.
• The Asian Pacific region is the fastest-growing market due to the growing development activities and rapid economic expansion.
• By packaging type, the pouches segment dominates due to resealable and is considered a cost-effective alternative to metal, cardboard, and glass containers.
• By material type, the dominating segment is paper-based due to its biodegradable nature also allows it to be disposed of or recycled easily.
• By Printing Technology, the flexography segment is emerging in the market due to product management, with high-quality images and graphics.
• By end users, the food industry segment is growing due to the demand for packaged foods, including ready-to-eat meals, frozen meals, snack foods, and cake mixes.

Flexible Packaging Market Segmentation Analysis

Packaging Type: The pouches segment that accounted for the highest CAGR during the forecast period are small bags comprising two side flat sheets that are flexible and sealed along the edges to form a compartment whose volume is the relative position of walls dictates the case. Pouches can be categorized primarily into two types: SUPs and flat or pillow pouches. Standard stand-up pouches and retort stand-up pouches are the two main types of stand-up pouches. Pouches are suitable for bulk coffee packaging along with foodstuffs such as dried or smoked meat. Pouches can be used easily, are heat sealable, and come in handy packaging with various sizes and formats.

Material Type: One of the major trends that is likely to shape the future of the flexible packaging business is the trend toward more flexible paper-based packaging options. This concurs with the upward trend of environmentally friendly and sustainable packaging solutions. Paper-based packaging is more practical because it can be recycled and biodegradable. Thus, with these properties, paper-based packaging products will face good demand in the future because many manufacturers have joined the bandwagon of opting for sustainable packaging options.

Printing Technology: Brands marketing as diverse a line of merchandise as food and wine, motor oil, and grass seed, tend to prefer flexography over other printing techniques. Flexography now offers benefits that are extremely attractive both to product marketing and to purchasing management, based on newly achieved capabilities to produce high-quality images and graphics, assure high consistency and repeatability from one job to another, and allow rapid, cost-effective changeovers to support smaller quantity runs. With the growth of certain market segments and the use of advantages through flexographic printing, its demand in the market would increase sharply in the next few years.

End User: The food industry accounted for the highest CAGR during the forecast period. Hygiene and sustainability concerns, urbanization, changing lifestyles, and high disposable income are among the major factors that drive the market of flexible packaging in the food industry. Customers want their food products to be hygienic and safe as well as appealing to the eye. The manufacturers have a very strong food service packaging ecosystem. They are constantly inventing to ensure that the consumer benefits, and they have a specialized R&D house that conducts numerous research-based tests employing the most recent technologies. However, due to the other favorable properties of flexible packaging, such as excellent barrier properties, it can be made using fewer resources, increases the product shelf life, and many more, which attract consumers mainly from the food industry.

Future Outlook for Key Players in the Flexible Packaging Market

The flexible packaging market size is inclusive of several companies such as Huhtamaki Oyj (Finland), Berry, Global Group Inc. (US), Amcor Limited (Australia), Mondi Group. (UK), Sonoco Products Company (US), Westrock Company (US), Constantia Flexibles (Austria), Sealed Air Corporation (US), Transcontinental Inc, (Canada), DS Smith (UK), and others.

Facts & Figures of the Flexible Packaging Market

• In February 2023, Sealed Air acquired Liquibox for USD 1.15 billion purchase price on a cash and debt-free basis. Liquibox is the pioneer, innovator, and manufacturer of sustainable fluids & liquids packaging and dispensing solutions for fresh food, beverage, consumer goods, and industrial end-markets.
• Amcor acquired Phoenix Flexibles with expansion capacity in the Indian Market. The firm's location is in Gujarat, India, with a revenue of about USD 20 million per year in terms of saleable flexible packaging for food, home care, and personal care applications. Further, the acquisition adds advanced film technology that allows local production of a broader range of more sustainable packaging solutions and brings capabilities allowing Amcor to expand its product offerings in attractive high-value segments
• According to the Japan Canners Association, the production volume of curry retort pouch products surpassed that of agricultural products in retort pouches, amounting to around 157.54 thousand tons in 2022, while agricultural products lagged with 780 tons.

Key Developments In Flexible Packaging Market

• In October 2022, as part of an agreement with the Norwegian pet food company Felleskjopet, well-known for its high standard of quality, Mondi Group is reopening the premium Appetitt brand. Transition to recyclable high-barrier packaging.
• In September 2022, Huhtamaki Oyj invested in the Emerald Technology Ventures AG-led sustainable packaging fund focused on State-of-the-art sustainable packaging technologies.