Flexible Plastic Packaging Market by Type (Pouches, Rollstocks, Bags, Wraps), Material (Plastic & Aluminum Foil), Application (Food, Beverage, Pharma & Healthcare, Personal care & Cosmetics), Technology, and Region – Global Forecast To 2025", The global flexible plastic packaging market size is projected to grow from USD 160.8 billion in 2020 to USD 200.5 billion by 2025, at a CAGR of 4.5% from 2020 to 2025. The market is projected to grow in accordance with the increase in the demand for flexible plastic packaging for food, beverage, and cosmetics products across the globe. Furthermore, the flexible plastic packaging market has witnessed a significant increase in its demand for the supply of grocery, drugs, and vegetables & meat through online channels, during the ongoing COVID-19 pandemic.

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Browse 138 market data tables and 47 figures spread through 220 pages and in-depth TOC on "Flexible Plastic Packaging Market “

Recent Market Developments

Recent developments are helpful to know the market trends and growth strategies adopted by the players in the market. For instance, in this market, the number of product launches has increased in the last three years (2017 to 2020). In the new version of the report, product launches and upgrades accounted for approximately 40% of the total development.

Changes in the scope of the market

The new edition includes changes in the regional segments, where the market has been split into country level market. Sub segments have been modified or deleted, based on secondary & primary research. The new edition of the reports includes analysis of the impact of COVID-19 on the overall flexible plastic packaging market.

Food segment is estimated to be the largest segment in the flexible plastic packaging market in 2019.

Food segment, by application, accounted for the largest demand for flexible plastic packaging  in 2019, in terms of value and volume. This dominant market position is attributed to the boost in the demand for flexible plastic packaging solution across the food industry. People are resorting to panic-buying and bulk stocking due to the fear of lockdowns, in COVID-19 pandemic. More people are ordering daily staples and fresh food through online channels, which leads to an increase in the demand for flexible plastic packaging solutions.

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The APAC region is projected to account for the largest share in the flexible plastic packaging market during the forecast period.

The APAC region is projected to lead the flexible plastic packaging market, in terms of both value and volume from 2020 to 2025. Higher domestic demand, along with the availability of low-cost labor, makes this region the most attractive market for flexible plastic packaging producers. Hence, the market players are focusing on this region to gain a larger share and increase their profitability. Factors such as improving the global economy, expanding the working population, and rising domestic demand for food and pharmaceutical products are expected to boost the market for flexible plastic packaging.

Constantia Flexibles (Austria), Amcor (Australia), Berry Global Inc. (US), Mondi (Austria), Sonoco (US), and Sealed Air Corporation (US)  are the key players operating in the flexible plastic packaging market. Expansions & investments, acquisitions, agreements, and new product launch are some of the major strategies adopted by these key players to enhance their positions in the flexible plastic packaging market.

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