Market Size of South Africa Flexible Packaging Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 3.17 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South Africa Flexible Packaging Market Analysis
The South Africa Flexible Packaging Market is anticipated to register a CAGR of 3.17% over the forecast period. There is an increasing demand for fresh food packaging in the country during the forecast period. Rising household expenditure in the country is driving the demand for convenient food products, further propelling the market for fresh food packaging in the coming years.
- During the COVID-19 pandemic, the market studied faced slow growth due to imposed lockdown that has disrupted the supply chain process and the closure of production plants to curb the effect of the virus. Further, the Russia-Ukraine war has an impact on the overall packaging ecosystem.
- Growing consumer markets in South Africa will benefit from introducing biodegradable polymers. Over the next few years, the market share of traditional plastic packaging materials will decline due to packaging businesses' adoption of materials, including polyvinyl alcohol, polyanhydrides, and polylactic acid. Environmental compliance requirements, which rely on severe fines to force industry reform, will play a part in this.
- Recyclability and decomposability make paper-based packaging more sustainable than other materials. Furthermore, convenience, low cost, and fewer weight attributes have made flexible packaging the most sought-after packaging material that helps to drive market growth.
- In addition, the industry is looking into expanding the use of feedstocks obtained from the first generation of chemical recycling processes to use more recycled post-consumer resin in polymer packaging films. For instance, in March 2022, CCL Label, a worldwide packaging business with a new production facility in Midrand, offered solutions at ProPak Africa 2022 that would help companies become more environmentally friendly, whether through increased recyclability, PCR, or bio-based contents.
- The flexible packaging industry in South Africa is characterized by its strong use in the food industry. Consumers tend to look for cost-effective, sustainable, lightweight, reusability, recyclability, convenient, and heat-resistant products, which helps drive demand for packaging in food products. The rising demand for packaging foods in portable and convenient formats has helped drive the use of packaging products across various industries.
