Flexible Packaging Market worth USD 202.5 billion by 2027

The Market Statsville Group (MSG) publishes the new report on the "Flexible Packaging Market by Material (Flexible Plastic (PE, BOPP, CPP, BOPET, PA, PET, PVC, EVOH, and Others), Flexible Paper, and Foil), by Product (Bags, Pouches, and Others), by Printing (Flexographic, Rotogravure, and Others), by Application (Consumer Packaging and Industrial Packaging), by End-User (Bakery and Confectionery, Meat, Poultry, and Seafood, Dairy, RTE, Frozen Food, Tea and Coffee, and Others (Healthcare, Personal Care, and Petfood)), by Region – Global Share and Forecast to 2027". The global flexible packaging market size is expected to grow at a CAGR of 4.3%, from USD 157.3 billion in 2020 to USD 202.5 billion by 2027, during the forecast period. The global increase in disposable income and the rising population have been the driving forces for the rise in packaged and processed food consumption. The consumption of packaged and processed food increased during the lockdown, particularly in Q2 and Q3 2020. Although the market was uncertain during 2020, it is expected to grow during the forecast period following the relaxation of lockdown restrictions. The pace of urbanization in India, China, and other APAC countries is expected to be rapid. In developed countries, the market is expected to witness steady growth. Urban areas witness the highest consumption of packaged food items, especially in the APAC region.

Global Flexible Packaging Market Segmentation

The flexible packaging market has been segmented into the material, product, printing, application, application, and region.

By Material Outlook (Revenue, USD Million, 2017-2027)

• Flexible Plastic
  • PE
  • BOPP
  • CPP
  • BOPET
  • PA
  • PET
  • PVC
  • EVOH
  • Others
• Flexible Paper
• Foil

By Product Outlook (Revenue, USD Million, 2017-2027)

• Bags
• Pouches
• Others

By Printing Outlook (Revenue, USD Million, 2017-2027)

• Flexographic
• Rotogravure & Others

By Application Outlook (Revenue, USD Million, 2017-2027)

• Consumer Packaging
• Industrial Packaging

By End-User Outlook (Revenue, USD Million, 2017-2027)

• Bakery and Confectionery
• Meat, Poultry, and Seafood
• Dairy
• RTE
• Frozen Food
• Tea and Coffee
• Others
  • Healthcare
  • Personal Care
  • Petfood

By Region Outlook (Revenue, USD Million, 2017-2027)

• North America (US, Canada, Mexico)
• South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
• Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
• The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)

Flexographic, by printing, is estimated to hold the largest market share during the forecast period

Based on printing, the global flexible packaging market is segregated into flexographic and rotogravure & others. The flexographic segment generated the highest revenue of 76.0% in the global flexible packaging market in 2020. Flexographic printing is witnessing increased demand in the label and flexible packaging markets. The demand for more colors in packaging and line screen values are driving the demand for flexographic printing. Improvement in packaging quality, lower costs, and reduced run lengths are boosting the market growth.

Flexographic printing has been extensively used in the past few years. More than 1,000 billion units of flexible packaging materials were shipped in 2018. Advanced machinery with a speed of up to 1,900 feet per minute has been procured to meet the high-volume demand in the flexible packaging market. To increase efficiency, large rolls produced by flexographic presses are slit using the slit machines. The versatility of the flexographic press with applications in bags and paper wrapping, low cost of operation, high speed, and excellent print capabilities are the major reasons for increased adoption. The quality of prepress has improved and this has increased the costs associated with flexographic printing.

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The Asia Pacific accounts for the largest market share in the flexible packaging market 2020

Based on the regions, the global flexible packaging market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2020, Asia Pacifc accounted for the highest market share of 37.2% in the global flexible packaging market and was anticipated to maintain its dominance throughout the forecast period. In the Asia Pacific, Expansion, acquisitions, agreements, and new product launches are some of the major strategies adopted by the key players to enhance their positions in the flexible packaging market. 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 packaging.

Being a vast geography with the inclusion of China and India, there are supply chain challenges in terms of procurement of raw materials. Brand owners in India and China most prefer packaging companies with the least supply chain risk (diversified procurement). The APAC region has demand for both low-cost sachets and premium luxury packaging. The demand for flexible packaging in food, pharmaceuticals, and industrial secondary/tertiary packaging is expected to fuel the market growth during the forecast period. The diaper market in China is witnessing an upward trend with wider adoption in developing countries due to improved focus on hygiene.

This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the flexible packaging market. It also consists of the profiles of leading companies such as Amcor, Berry Global Inc., Mondi, Sonoco, Sealed Air Corporation, Huhtamaki, Coveris, Transcontinental Inc. Clondalkin, among many others.

Browse complete report: https://www.marketstatsville.com/flexible-packaging-market

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