Flexible Plastic Packaging Market - By Type (Pouches, Rollstock, Bags, Films & Wraps), By Printing Technology (Flexography, Rotogravure, Digital Printing), By Application (Food & Beverage, Pharmaceuticals & Healthcare, Personal Care & Cosmetics) & Forecast, 2023 - 2032

Flexible Plastic Packaging Market Size

Flexible Plastic Packaging Market was valued at over USD 170 billion in 2022 and is anticipated to grow at a CAGR of around 4% between 2023 and 2032. Technological innovations that improve printing capabilities, make high-resolution graphics possible, and support a variety of materials, driving the industry expansion. Economical and environment-friendly solutions are made possible by advancements in digital printing, flexible substrates, and sustainable inks. Efficiency gains in printing methods and automation also boost output. The packaging industry growth can be attributed to dynamic needs, which are met by the capacity to add advanced features such as smart packaging and Augmented Reality (AR) through revolutionary printing technologies. This further foster market growth as customer tastes change. For instance, in October 2023, Pakka launched India’s first compostable flexible packaging in collaboration with Brawny Bear, a nutrition company renowned for its date-based healthy food products. The introduction of this compostable flexible packaging marks a notable milestone in India’s packaging industry, which boasts a market value of more than USD 70 billion.
 

The flexible plastic packaging industry involves the production and utilization of printing technologies on flexible plastic materials for packaging applications. This market integrates innovations in printing methods, inks, and substrates to meet diverse industry needs. It caters to the demand for visually appealing, informative, and sustainable packaging solutions, primarily in sectors such as food & beverage, pharmaceuticals, and consumer goods.
 

The global market faces the challenge of fluctuating raw material prices, which have immediate effects on production expenses. Producers find it difficult to keep their printed packaging items priced consistently when the cost of necessary components, such as inks and substrates, changes. It can be challenging for firms to successfully plan and budget when there is volatility since erratic spending can have an impact on profit margins. The growth and competitiveness of the flexible plastic packaging sector is hampered by the price volatility of raw materials, increasing the financial strain.
 

COVID-19 Impact

The COVID-19 pandemic significantly impacted the flexible plastic packaging market. Supply chain disruptions, reduced consumer spending, and shifts in priorities temporarily reduced the demand. Lockdowns and restrictions affected production and distribution. However, the industry demonstrated resilience as the demand for packaged goods persisted. Increased awareness about hygiene boosted the growth of specific segments. Post-pandemic, the market recovered, driven by the resurgence of consumer confidence, e-commerce growth, and the need for flexible packaging in industries.
 

Flexible Plastic Packaging Market Trends

Advancements in digital printing are facilitating increased customization, shorter turnaround times, and variable data printing, which are driving the evolution of the flexible plastic packaging industry. Eco-friendly inks, recyclable substrates, and less environmental effects are the highlights of the current sustainability trends. As a means of improving consumer interaction and providing useful product information, the use of smart packaging elements, such as AR and QR codes, is becoming more common. In the printing sector, for flexible plastic packaging, these trends indicate a dynamic shift toward efficiency, environmentally sensitive practices, and improved consumer engagement.
 

Flexible packaging formats are growing in popularity, which is driving the demand for customized printing technologies in the market. Companies use printing to personalize products and give customers distinctive experiences. Security requirements are met by anti-counterfeiting techniques such as holographic printing. Innovations are fueled by partnerships between printers, manufacturers, and tech companies, which produce cutting-edge printing solutions. These trends reflect a changing industry adapting to consumer demands for packaging, brand individuality, security considerations, and cooperative developments in flexible plastic package printing.
 

Flexible Plastic Packaging Market Analysis

Based on type, the market is segmented into pouches, rollstock, bags, films & wraps, and others. The rollstock segment dominated the global market with a share of over 30% in 2022.
 

• Rollstock printing excels in cost efficiency, allowing continuous printing on flexible plastic rolls, saving on materials and production. Its high-speed, continuous process enhances efficiency and speeds up turnaround times.
   
• Rollstock is versatile for packaging formats, such as pouches and bags, and caters to diverse industry needs. It seamlessly enables customization and branding, empowering manufacturers to craft visually appealing and distinctive product packaging.

Based on printing technology, the market is divided into flexography, rotogravure, digital printing, and others. The digital printing segment is anticipated to register a CAGR of over 4.5% through 2032.
 

• Digital printing enables quicker production cycles compared to traditional methods, meeting the demand for shorter lead times in flexible packaging. It allows for personalized and variable data printing, accommodating the trend of customized & targeted packaging.
   
• The ability to easily customize designs and adapt them to different packaging formats is fueling the demand for unique & visually appealing packaging. Digital printing eliminates the need for extensive setup processes and printing plates, contributing to increased efficiency and cost savings.

Asia Pacific dominated the market with a share of over 30% in 2022. Growing industrialization, rising disposable incomes, and increasing demand for packaged goods are expected to fuel the Asia Pacific flexible plastic packaging market growth. The region's changing retail environment and growing e-commerce industry will increase the demand for aesthetically pleasing and personalized packaging. In response to the changing market dynamics, the Asia Pacific industry is expected to witness significant growth due to the presence of varied sectors and expanding consumer base.
 

Flexible Plastic Packaging Market Share

The players operating in the market focus on implementing different growth strategies to strengthen their offerings and expand the market reach. These strategies involve new product development & launches, partnerships & collaborations, mergers & acquisitions, and customer retention. The market players also heavily invest in R&D to introduce innovative and technologically-advanced solutions in the global market. The major players operating in the flexible plastic packaging industry are mentioned below:

• Amcor Limited
• American Packaging Corporation
• AR Packaging Group AB
• Bemis Company, Inc.
• Berry Global Group Inc.
• Bischof + Klein SE & Co. KG
• CCL Industries Inc.
   

Flexible Plastic Packaging Industry News

• In August 2023, Amcor acquired Phoenix Flexibles, expanding Amcor’s capacity in the high-growth India market. Amcor's capacity to meet the high demand and generate significant returns for shareholders will be instantly increased with the inclusion of Phoenix Flexibles' well-capitalized and well-located production facility. The acquisition provided cutting-edge film technology that permitted Amcor to expand its product portfolio in high-value areas and brought skills that enable local manufacturing of environment-friendly packaging solutions.
   
• In January 2023, Amcor Limited acquired MDK, a Chinese company that provides packaging for medical devices. This acquisition strengthened Amcor's leadership in the Asia Pacific medical packaging segment, especially serving China, India, and Southeast Asia markets.
   

The flexible plastic packaging market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD billion) from 2018 to 2032 for the following segments:

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Market, By Type

• Pouches
• Rollstock
• Bags
• Films & Wraps
• Others

Market, By Printing Technology

• Flexography
• Rotogravure
• Digital Printing
• Others

Market, By Application

• Food & Beverage
• Pharmaceuticals & Healthcare
• Personal Care & Cosmetics
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • ANZ
  • Rest of Asia Pacific 
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America 
• MEA
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA