Market Overview:

Flexible packaging is a packaging film that is produced from flexible materials which can be used to package different shapes and sizes of the product. It is made up of paper, plastic, foil, sheet, laminated sheet, and metal sheet. They ensure protection from damage during transportation and storage. They increase the shelf-life of the product and also reduce the production waste as it offers the least packaging possible. Flexible packaging uses fewer materials than rigid containers and also consumed less energy during production. Furthermore, it releases fewer greenhouse emissions which makes a better solution for a sustainable environment.

The global flexible packaging market is projected to surpass US$ 400 billion by the end of 2027, in terms of revenue, growing at a CAGR of 5.4% during the forecast period (2019 to 2027).

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Market Drivers

The rising demand for flexible packaging in the primary packaging of the product is expected to accelerate market growth. The prime function of primary packaging is to protect the product from any damage and contamination. Flexible packaging has all sorts of properties that exactly meet with the primary packaging such as lightweight, low contamination, high barrier, and keeping the product completely sealed off from the environment. Thus, flexible packaging across primary packaging is expected to augment the market growth.

Shifting preferences for flexible packaging over rigid packaging due to sustainability advantage is expected to fuel the market growth of flexible packaging. Flexible packaging offers a number of sustainability advantages such as less consumption of raw material, reduced energy usage, low greenhouse emission, and low waste produced as compared to conventional packaging formats. This makes them an ideal choice of materials across the packaging industry and is highly preferred.

Market Opportunities

Increasing the addition of layers into a flexible packaging structure in order to improve the functionality and economic viability of the flexible packaging is expected to offer immense growth opportunities. Moreover, the increasing advent of new products such as high-temperature retort pouch, vacuum pouch, and stand-up pouches is encouraging flexible packaging manufacturers to introduce materials with advanced and improved properties which will favor the market growth.

Bio-based flexible packaging is gaining popularity in the market and this is expected to open new avenues to the market of flexible packaging. For instance, in July 2019, DOMO Chemicals, an engineering company, has introduced a new name for the business known as cfp flexible packaging S.p.A. The purpose of introducing new business to produce sustainable and innovative films for flexible packaging and other technical applications



Market Taxonomy

By Product Type

Stand-up Pouches

Vacuum Pouches

Retort Pouches

Converted Roll Stock

Gusseted Bags

Wicketed Bags

Laminated Tubes

Squeezable Bottles

Others

By Material Type

Polymer

Polyethylene

LDPE

HDPE

LLDPE

Polypropylene

BOPP

Cast polypropylene

BOPET

Polyamide

Poly Vinyl Chloride

Ethylene Vinyl Alcohol

Poly Styrene

Paper

Aluminum

Cellulosic

By Application

Consumer Goods

Food & Beverages

Dairy Products

Bakery & Confectionery

Ready-to-Eat Food Products

Frozen & Chilled Food

Tea

Others

Personal Care

Pharmaceuticals

Tobacco

Others

Industrial and Institutional

Key players operating in the global flexible packaging market are Amcor Limited, Bemis Company, Sealed Air Corporation, Berry Plastics Group, Inc., Mondi Group, Sonoco Products Co., Huhtamäki Oyj, Constantia Flexibles Gmbh, Ampac Holdings, Llc, Bischof + KleinInternational, Wipak Group, AR Packaging, Goglio Group, Schur Flexibles, Clondalkin Group, Flair Flexible Packaging Solution Cellpack Packaging, and Südpack Verpackungen.



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