Flexible Packaging Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Flexible Packaging Market is segmented by Material Type (Plastic, Paper, Aluminum Foil), Product Type (Pouches, Bags, Films & Wraps, Other Product Types), End-user Industry (Food, Beverages, Pharmaceutical and Medical, Household and Personal Care), and Geography.

Flexible Packaging Market Snapshot

Flexible Packaging Market
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: 3.89 %

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Market Overview

The Flexible Packaging Market was valued at USD 230.49 billion in 2020, and it is projected to be worth USD 289.89 billion by 2026, registering a CAGR of 3.89% during the forecast period (2021 - 2026). Technological innovation, sustainability trepidations, and attractive economics are among the reasons for the remarkable growth of flexible packaging in the last two decades, globally.

  • Owing to the rising focus on sustainability, traditional rigid packaging solutions are being substituted by innovative and more sustainable flexible packaging. The growing market demand for customer-friendly packages and heightened product protection is expected to boost flexible packaging as a viable and cost-effective substitute.
  • E-commerce, digital printing, and sustainability are driving market development and growth. Customers are increasingly becoming more eager to pay extra for certain product attributes boosted by flexible packaging. For instance, according to the Flexible Packaging Association, more than 60% of consumers in North America are keen to pay more for tangible and functional packaging benefits, such as product protection, shipping friendly, and supply chain efficacy, among others.
  • Flexible packaging is mainly used for food, which contributes to more than 60% of the total market, according to the Flexible Packaging Association. According to the Flexible Packaging Association, brand owners are taking on films, pouches, and bags as a go-to packaging solution, acknowledgments in part to extensive acceptance by American consumers.
  • Beauty products manufacturers, like L'Oréal and Unilever, are also investing in eco-friendly packaging approaches to make more sustainable usage of plastics in the personal care industry. For instance, in June 2019, L'Oréal has participated in the capital increase conducted by Carbios, which develops new, bio-industrial solutions to reinvent the lifecycle of plastics.
  • With the recent outbreak of COVID 19, the flexible packaging manufacturer is facing supply chain disruption along with decreasing manufacturing at the site in many parts of the world. To ensure the smooth flow of supply chain, the global food safety initiative (GFSI) certification programs are providing six-month certificate extensions by conducting a remote audit and risk assessment pertaining to COVID-19 such that the company can approve a new supplier location without an on-site audit to meet the demand.

Scope of the Report

Flexible Packaging is a package like bags and pouches that can be modified and are of free shape. The world of flexible packaging for commodity goods and services is a high volume, low margin world of a product polymer manufacturer. The study covers the market based on the type of material being used in the manufacturing of different flexible packaging products to be used in various end-user industries across the globe.

Material Type
Plastic
Polyethene (PE)
Bi-orientated Polypropylene (BOPP)
Cast polypropylene (CPP)
Polyvinyl Chloride (PVC)
Ethylene Vinyl Alcohol (EVOH)
Paper
Aluminum Foil
Product Type
Pouches
Bags
Films & Wraps
Other Product Types
End-user Industry
Food
Frozen Food
Dairy Products
Fruits & Vegetables
Meat, Poultry, & Seafood
Baked Goods & Snack Foods
Candy & Confections
Other Food Products
Beverage
Pharmaceutical and Medical
Household and Personal Care
Other End-user Industries
Geography
North America
United States
Canada
Europe
United Kingdom
Germany
France
Italy
Spain
Turkey
Poland
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
Rest of Asia-Pacific
Latin America
Brazil
Argentina
Mexico
Rest of Latin America
Middle East & Africa
Saudi Arabia
South Africa
Egypt
Iran
Nigeria
Rest of Middle East & Africa

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Key Market Trends

Dairy Products are expected to Hold a Significant Market Share in the Food Segment

  • The current market scenario is indicative of an upsurge in demand from diary products as the consumption of dairy products is increasing at a healthy rate. For instance, according to FAO, the consumption of cheese amounted to 20.96 million metric tons in FY2019, globally.
  • Pouches are considered to be one of the most convenient packaging solutions for dairy and yogurt for out -of -home consumption. Companies and dairies are, hence, developing and using packaged pouches with creative lidding to gain consumers’ attraction.
  • Factors, such as increasing yogurt consumption, advancements in seal and barrier technologies for pouches, and technological advancement for keeping the food fresh for longer times at all stages of the supply chain, are increasing the need for the longer shelf life of dairy products.
  • Also, there is considerable traction in the adoption of vacuum pouches with a moderate barrier (PA/PE) or high barrier (PA/EVOH/PE) properties. These film-based vacuum pouches are being incorporated in Modified Atmosphere Packaging (MAP) applications and are majorly used for dairy and protein packaging.
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India is Expected to Witness Significant Growth in the Asia-Pacific Region

  • The packaging is the fifth largest sector in the Indian economy and is one of the highest growth sectors in the country. According to the Packaging Industry Association of India (PIAI), the sector is growing at 22 -25% per annum.
  • With the rising population, increasing income levels, urbanization, changing lifestyles, increasing internet penetration, and growing economy, the demand for packaging has been growing. According to the World Bank, In 2019, approximately a third of the total population in the country lived in cities.
  • In recent years, India has witnessed sustainable packaging growth owing to the increase of packaged food consumption and awareness, and demand for quality products. Consumer awareness surrounding packaged food, specifically packaged food deliveries, has heightened.
  • The packaging industry in the country is moving towards flexible packaging owing to its multi -fold energy and environmental benefits. Flexible packaging uses the best characteristics of plastic, paper, and aluminum foil, without compromising on the product's freshness, barrier protection, durability, printability, and ease of use.
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Competitive Landscape

The Flexible Packaging Market is highly competitive owing to the presence of multiple vendors in the market. The market appears to be moderately concentrated with the major players adopting strategies such as product innovation, mergers, and acquisitions in order to stay competitive in the market. Some of the major players in the industry are Amron Limited, Mondi Group, Berry Global Inc, Sealed Air Corporation, among others.

  • April 2020 - Smurfit Kappa launched a new Bag-in-Box filling solution for organic birch sap drink thus offering a perfect packaging solution for the drink that keeps it fresh for up to 24 months before opening and 8 weeks after opening.
  • September 2019 - Amcor opened an e-commerce testing laboratories, one in Manchester, Michigan, US. With this, the company would cater to customers with online sales; particularly in pet food, sauces, beauty, and personal care, and home cleaning products. This laboratory is certified to test packaged products for ISTA 6A.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.2.1 Threat of New Entrants

      2. 4.2.2 Bargaining Power of Buyers

      3. 4.2.3 Bargaining Power of Suppliers

      4. 4.2.4 Threat of Substitutes

      5. 4.2.5 Intensity of Competitive Rivalry

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Assessment of Impact of COVID-19 on the Industry

    5. 4.5 Market Drivers

      1. 4.5.1 Increased Demand for Convenient Packaging

      2. 4.5.2 Demand for Longer Shelf Life and Changing Lifestyles

    6. 4.6 Market Restraints

      1. 4.6.1 Concerns Regarding the Environment and Recycling

  5. 5. MARKET SEGMENTATION

    1. 5.1 Material Type

      1. 5.1.1 Plastic

        1. 5.1.1.1 Polyethene (PE)

        2. 5.1.1.2 Bi-orientated Polypropylene (BOPP)

        3. 5.1.1.3 Cast polypropylene (CPP)

        4. 5.1.1.4 Polyvinyl Chloride (PVC)

        5. 5.1.1.5 Ethylene Vinyl Alcohol (EVOH)

      2. 5.1.2 Paper

      3. 5.1.3 Aluminum Foil

    2. 5.2 Product Type

      1. 5.2.1 Pouches

      2. 5.2.2 Bags

      3. 5.2.3 Films & Wraps

      4. 5.2.4 Other Product Types

    3. 5.3 End-user Industry

      1. 5.3.1 Food

        1. 5.3.1.1 Frozen Food

        2. 5.3.1.2 Dairy Products

        3. 5.3.1.3 Fruits & Vegetables

        4. 5.3.1.4 Meat, Poultry, & Seafood

        5. 5.3.1.5 Baked Goods & Snack Foods

        6. 5.3.1.6 Candy & Confections

        7. 5.3.1.7 Other Food Products

      2. 5.3.2 Beverage

      3. 5.3.3 Pharmaceutical and Medical

      4. 5.3.4 Household and Personal Care

      5. 5.3.5 Other End-user Industries

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

      2. 5.4.2 Europe

        1. 5.4.2.1 United Kingdom

        2. 5.4.2.2 Germany

        3. 5.4.2.3 France

        4. 5.4.2.4 Italy

        5. 5.4.2.5 Spain

        6. 5.4.2.6 Turkey

        7. 5.4.2.7 Poland

        8. 5.4.2.8 Russia

        9. 5.4.2.9 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 India

        4. 5.4.3.4 Australia

        5. 5.4.3.5 Rest of Asia-Pacific

      4. 5.4.4 Latin America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Mexico

        4. 5.4.4.4 Rest of Latin America

      5. 5.4.5 Middle East & Africa

        1. 5.4.5.1 Saudi Arabia

        2. 5.4.5.2 South Africa

        3. 5.4.5.3 Egypt

        4. 5.4.5.4 Iran

        5. 5.4.5.5 Nigeria

        6. 5.4.5.6 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Amcor Plc

      2. 6.1.2 Berry Global Inc.

      3. 6.1.3 Mondi Group

      4. 6.1.4 Sealed Air Corporation

      5. 6.1.5 Coveris Holdings SA

      6. 6.1.6 UFlex Limited

      7. 6.1.7 Huhtamaki Group

      8. 6.1.8 Proampac LLC

      9. 6.1.9 WIPF Doypak (Wipf AG)

      10. 6.1.10 FlexPak Services LLC

      11. 6.1.11 Laser Packaging Manufacturing PTE Limited

      12. 6.1.12 KM Packaging Services Ltd

      13. 6.1.13 Sonoco Products Company

    2. *List Not Exhaustive
  7. 7. INVESTMENT ANALYSIS

  8. 8. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Flexible Packaging Market market is studied from 2018 - 2026.

The Flexible Packaging Market is growing at a CAGR of 3.89% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

Amcor Plc, Mondi Group, Sealed Air Corporation, Coveris Holdings SA, Berry Global Inc. are the major companies operating in Flexible Packaging Market.

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