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Description
The flexible packaging paper market is anticipated to be valued at USD 25.1 billion in 2021 and is expanded to grow at a significant CAGR of 2.1% over 2022-2028. Increasing demand for convenient and sustainable packaging solutions from the food packaging industry drives the market. Flexible packaging paper is becoming more common in food and beverage goods like cereals and frozen meals. In recent years, demand for flexible packaging paper for food packaging has been fuelled by increased demand for smaller pack sizes combined with a preference for convenience. The consumer demand for more natural and sustainable food has triggered the need for sustainable, flexible packaging paper. As such, flexible packaging paper is acquiring prominence in food packaging and tea bag overpacks. Thus, the increase in applicability of the novel paper is boosting the market growth. It’s also utilised in sterile health and beauty goods, which makes sense given that the market for food and personal care and cosmetics is expected to rise at an exponential rate. Hence, manufacturers are developing ‘essential’ packaging manufacturing that helps keep products fresh and sterile for the convenience of consumers. Flexible packaging, the most recent evolution in the packaging industry, has acquired global popularity for several advantages over rigid plastic packaging solutions, including cost-effectiveness, functional convenience in handling, and trademark protection. The Kraft paper segment holds a significant share of the flexible packaging paper market because kraft papers are the most widely utilized paper type. They may be employed in various end-use industry applications and are very inexpensive.
Recent Market Developments:
In Jan 2022, Amcor introduces AmFiberTM, a new platform of paper-based packaging products. The launch showcases the company’s consumer-centric and adaptable approach and aimed to offer the best packaging technology to customers by leveraging the appropriate materials for the requirements.
In Oct 2021, Mondi introduced various pet food and sustainable premium food packaging from the launch of RetortPouch Recyclable. Through this launch, the company aimed to reduce the product’s environmental footprint and make consumers confident and secure about the product manufacturing and transportation as well as satisfy their sustainability goals.
