Market Size of Flexible Pouch Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.60 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Flexible Pouch Market Analysis
The Flexible Pouch Market is expecte to grow at a CAGR of 5.6% during the forecasr period (2022 - 20227). They are widely used in food packaging because they are resealable, environmentally friendly and cheaper than alternatives such as glass, metal and cardboard. The market is growing rapidly due to increasing demand for lightweight, convenient and cost-effective packaging products.
- The change in consumer demand from rigid to flexible packaging patterns is one of the major factor contributing to the significant growth of the global pouches market. The growing preference for stand-up pouches over other rigid packaging products such as metal cans and bottles is expected to provide considerable growth opportunities for the flexible packaging market.
- Technological innovation, sustainability concerns, and attractive economics have driven significant growth in flexible packaging worldwide over the last two decades. Growing demand for consumer-friendly packaging and enhanced product protection is expected to drive the flexible pouch market as a viable and cost-effective alternative.
- The increasing demand is attributed to the rising need for packaging solutions that are convenient and portable. For instance, according to a European Flexible Packaging Association survey, 66% of the respondents preferred flexible packaging owing to the ease of storage. Additionally, 65% based their purchase on their ability to reseal and 60% on the ease of opening.
- According to the data published by Flexible Packaging Europe, flexible packaging is used for packing almost 40% of food produced in Europe while using only 10% of the packaging material consumed by the packaging industry.
- Growing awareness of the ecological impact of plastics and unsustainable business practices has led consumers to demand higher standards of environmentally friendly products. Government agencies, consumers, and environmental groups have condemned the flexible packaging industry because of the waste produced by companies within the industry.
- The recent outbreak of COVID-19 has left flexible packaging manufacturers in a deluge of problems that are expected to be short-lived. Lockdown impacts included supply chain disruptions, unavailability of raw materials used in the manufacturing process, labor shortages, price volatility that excessive production and exceeded budgets, and shipping issues.
