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Flexible Packaging Market Size

Report ID: GMI1145
Published Date: Mar 2023
Report Format: PDF

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Flexible Packaging Market Size

Flexible Packaging Market was valued at USD 300.6 billion in 2023 and is poised to observe more than 5.2% CAGR from 2024 to 2032.

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Growing consumption of ready-to-eat and packed foods and changing eating habits of millennials will impact the demand for flexible packaging solutions. The advancements in the food processing sector have enabled the production of new types of packaged food products. The availability of local and exotic goods with long shelf lives is transforming customer food-buying behavior, driving market expansion in North America. The introduction of multiple technologies and ongoing research activities for food storage is anticipated to expand product penetration in the food and beverage sector.

Flexible Packaging Market Report Attributes
Report Attribute	Details
Base Year:	2023
Flexible Packaging Market Size in 2023:	USD 300.6 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	5.2%
2032 Value Projection:	USD 474.1 Billion
Historical Data for:	2018 to 2023
No. of Pages:	300
Tables, Charts & Figures:	290
Segments covered:	Material, Product, Application
Growth Drivers:	North America: Rising demand of processed and packaged food Europe: Growing demand for consumer products that are easily transportable Asia Pacific: The booming e-commerce and food & beverages industries
Pitfalls & Challenges:	Stringent regulations on polymer usage and recyclability

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Stringent regulations on polymer usage and recyclability could impede the growth of the global flexible packaging market. Polymers are extensively used across many industries including consumer products, packaging and coatings, medical equipment, electrical and electronics, building materials, and agriculture. Governing bodies and authorities have levied stringent rules and regulations on the usage of polymers used across multiple applications which could impact innovation in the flexible packaging sector.

Authors: Kiran Pulidindi

Frequently Asked Questions (FAQ) :

The market size of flexible packaging was surpassed USD 300.6 billion in 2023 and is poised to witness more than 5.2% CAGR from 2024 to 2032.

The food & beverage segment is forecasted to record more than 5.4% growth rate from 2023 to 2032 due to the rising consumption of processed and packed foods and drinks across the globe.

Asia Pacific market is expected to reach USD 222 billion by 2032 owing to the emergence of new products, particularly in the frozen food category across the region.

Coveris Holdings S.A, Bemis, Sealed Air Corporation, Clondalkin Group Holdings B.V, ACTEGA GmbH, Loba Goglio Group, Plater AR Packaging, Schur Flexibles, and Flair Flexible Packaging Solution are some of the key players in the global market.