Flexible Packaging Market Size to Reach Revenues of around USD 212 Billion by 2026 – Arizton

The global flexible packaging market size to reach USD 212 billion, growing at a CAGR of 4% by 2026.

CHICAGO, ILLINOIS, UNITED STATES, March 23, 2021 /EINPresswire.com/ -- In-depth analysis and data-driven insights on the impact of COVID-19 included in this global flexible packaging market report.

The flexible packaging market is expected to grow at a CAGR of over 4% during the period 2020−2026.

Key Highlights Offered in the Report:
1. The pouch segment is expected to witness the highest growth due to increased demand from non-traditional food segments such as soups and pet food. In pouches, microwaveable pouches are expected to generate high revenue.
2. Increasing use of recyclable plastic by key vendors is expected to affect the usage of virgin polymer, and consequently, the price of packaging is expected to increase in North America and Europe. The adoption of recyclable plastic is expected to be slow in APAC, and hence variations in price will be slower in the APAC region.
3. Monolayer plastic packaging is expected to witness high growth in the fresh food industry, especially in the APAC, Middle East and Africa, and Latin American regions. SMEs are expected to be the major demand generators.
4. The flexible packaging market will witness strong growth in terms of volume in tier 1 cities and gain momentum in tier 2 and tier 3 cities from 2021 onwards.
5. Huge production facilities combined with the easy availability raw materials, China will be a major market for flexible packaging, catering mainly to the growing domestic market and export materials, products, and machinery to other regions.
6. Reduction in weight of the material will cut down the production and logistics costs and reduce the overall carbon footprint.

Key Offerings:
• Market Size & Forecast by Revenue | 2020−2026
• Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
• Market Segmentation – A detailed analysis by material, application, consumer flexible packaging end-users, product type, printing type, and geography
• Competitive Landscape – 14 key vendors and 44 other vendors

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Flexible Packaging Market – Segmentation

• The food industry, which accounted for over 70% of the flexible packaging market share in 2020, has majorly contributed to the flexible plastic segment. Flexible plastic materials are derived from non-renewable resources. Premium products and most food items are packaged in flexible plastic pouches fitted with closures.
• Consumer packaging accounted for a major revenue of the global flexible packaging market share in 2020. Pouches, blister packs, and strip packs are the major product categories that cater to the consumer market. The segment is expected to grow faster than industrial packing as a high percentage of industries is adopting flexible solutions, especially non-food and beverage industries.
• Bakery and confectioneries are expected to contribute $36 billion to the flexible packaging industry by 2026. China is the largest producer and consumer of bakery products globally, with an annual growth rate of 15%. The adoption of modified atmospheric packaging technology in the bakery is expected to grow during the forecast period. Single-serving and smaller-size packs will witness high application in bakery packing.

Flexible Packaging Market by Material
• Flexible Plastic
• PE
• PA
• Others
• Flexible Paper
• Foil
Flexible Packaging Market by Application
• Consumer Packaging
• Industrial Packaging
Flexible Packaging Market by Consumer Flexible Packaging End-users
• Bakery & Confectionery
• Meat, Poultry, & Seafood
• Dairy
• Frozen Food
• Tea & Coffee
• Petfood
• Healthcare
• Personal Care
• Other end-users
Flexible Packaging Market by Product Type
• Bags and Sacks
• Pouches
• Others
Flexible Packaging Market by Printing Type
• Flexography
• Rotogravure and Others

Flexible Packaging Market – Dynamics

Since plastic packaging has a higher share in the overall flexible packaging market, the environmental impact associated with the usage of plastic as a packaging material is also high. The pressure on the food and beverage, consumer goods, and pharmaceutical industries to reduce dependency on plastic is regularly increasing and the same has been passed on to packaging vendors. Sustainability is not limited to materials, but also extends to the production process, logistics, functionality, and end-use of expired products. Both buyers and suppliers of flexible packaging products are looking to make a positive impact on the environment. By 2030, the European Commission plans to ensure that all plastic-based packaging will be either reusable or recyclable. Currently, only around 30% of the plastic waste generated in Europe is collected to be recycled. The plan is the increase the collection to more than 40% by 2022 in the initial phase on a priority basis. However, it has been noticed that an increased amount of plastic waste was generated during 2020 due to the increased use of plastic bags, pouches, and other packaging material.

Key Drivers and Trends fueling Market Growth:
• Profit Volatility in APAC Region
• Increasing Adoption of Flexible Packaging
• Increasing Demand from Healthcare Industry
• Increasing Demand for Pouch Packaging

Flexible Packaging Market – Geography

The global flexible packaging market is dominated by APAC, Europe, and North America and accounted for more than 70% market share in 2020. The APAC market is largely volume-driven due to the growing retail landscape, along with organized growth of the packaging market. The organized retail and packaging market have been pushing for advanced packaging techniques to provide quality products that can sustain for longer duration. North America and Europe are two regions that are aware of more advanced packaging technologies and are the first to adopt new trends.

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Flexible Packaging Market by Geography
• North America
• US
• Canada
• Europe
• UK
• Germany
• France
• Spain
• Italy
• Benelux
• Austria
• Scandinavia
• Rest of Europe
• China
• Japan
• South Korea
• India
• Australia
• New Zealand
• Rest of APAC
• Latin America
• Brazil
• Mexico
• Argentina
• Chile
• Rest of Latin America
• Middle East & Africa
• Saudi Arabia
• South Africa
• Turkey
• Saudi Arabia
• Rest of Middle East & Africa

Major Vendors
• Amcor
• Berry Global
• Mondi
• Sealed Air
• TC Transcontinental Packaging
• Sonoco
• Huhtamaki
• Constantia Flexibles
• Ahlstrom-Munksjö
• Greif
• WestRock
• Smurfit Kappa
• Aluflexpack (AFP)
• Aptar

Other Prominent Vendors
• Aran Group
• Aluberg
• American Packaging Corporation
• Bischof + Klein
• Bioplast
• Carcano Antonio S.p.A
• Danaflex
• Printpack
• ProAmpac
• Wipak Group
• Saica Flex
• Etapak (Baskı Ambalaj)
• Innovia Films
• UFlex
• International Paper
• Reynolds Group
• Novolex
• Sigma Plastics
• Glenroy
• Symetal
• Krajcár Packaging
• Gascogne Flexible
• Schur Flexibles
• Schmid Folien
• RKW Group
• Pouch Partners
• Perlen Packaging
• Goglio Packaging
• Kleiner Flexible Packaging
• Winpak
• Stora Enso
• Global-Pak
• Di Mauro
• Eurofoil
• Gerosa Group
• LEEB Flexibles
• PolyPak
• Pro-Pac Packaging (PPG)
• Walki Group
• Wipf
• WZ Packaging Limited

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