Segmented By Product Type (Pouches, Rollstocks, Bags and Others (Blisters, Wraps, Sachet, etc. )), By Material Type (Plastic, Paper, Aluminium Foil and Others (Cellulose, Recycled Plastics & Laminates)), By Printing Technology (Flexography, Rotogravure, Digital Printing and Others (Offset Lithography, Screen Printing, etc.
New York, Dec. 29, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Flexible Packaging Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028" - https://www.reportlinker.com/p06377478/?utm_source=GNW
)), By Application (Food & Beverages, Healthcare, Cosmetics & Toiletries and Others (Textiles, Agro-business, Industrial and Chemicals, etc.)) By Region, and Competition
Global Flexible Packaging Market is projected to grow at an impressive rate through 2028 due to increasing demand of cosmetic and personal care industries. In France total revenue in the cosmetics segments amount to USD 2.54 billion in 2022.
Flexible packaging is more sustainable since it requires lesser resources, energy, and water during production and takes up less room in landfills after disposal.The demand for flexible packaging is also anticipated to increase during the projected period as more application sectors choose sustainable packaging solutions due to regulatory restrictions.
Due to significant businesses in the application industry, the U.S. is a significant market for flexible packaging.
Furthermore, the country’s high market penetration of ready-to-eat meals is anticipated to support the expansion of flexible packaging during the projected period due to a busy lifestyle and a large percentage of working-class professionals.Flexible packaging is frequently used for food goods, such as smoothies, snacks, dairy, and others.
The demand for products is anticipated to increase over the projected period due to improvements in food processing methods and shifting customer lifestyles. The packaged food industry has been expanding globally.
Promising Demand From The Packaging Industry
Due to growing urban populations, rising demand for FMCGs, pharmaceutical supplies, and other consumer durables, as well as increasing health and hygienic packaging concerns, there is an increased need for packaging.According to the Flexible Packaging Association, more than 60% of the market comprises flexible packaging for food.
The demand for flexible packaging is growing swiftly because it has the potential to offer novel solutions to many packaging issues.IBEF further notes that the food processing industry, which accounts for 32% of India’s total food market and ranks fifth in production, consumption, and exports, is one of the country’s most important industries, with 70% of revenues coming from retail.
The World Packaging Organization estimates that the global packaging market is expanding at a rate of 5.5%.
Low-Cost Substitute for Metal
Due to its lightweight nature and outstanding durability, flexible plastic packaging is in high demand across various industries.Still, it is trendy in the food and beverage, electrical, consumer electronics, and e-commerce sectors.
Flexible plastic packaging replaces rigid packaging (metal packaging), although it offers high-barrier packaging options because of its great flexibility, superior durability, and long shelf life.Plastic and non-plastic rigid packaging, especially metal containers, were prone to leakage, corrosion, and breakage.
Demand for flexible plastic packaging will increase as consumers’ preferences for practical and light packaging grow.To further aid in replacing conventional rigid packaging, new recyclable, sustainable, and flexible plastic packaging choices will be introduced by environmental legislation to meet customer needs.
Leading industry players provide customization in flexible plastic packaging to help with product merchandising and improve the user experience, which will help the market grow in the future.
Growing Technological Advancement for Sustainable Development
Sustainability tendencies are anticipated to increase during the forecasted timeframe.Sustainability will always be a problem because of the nature of plastic production.
However, streams of development and recycling will aid in balancing out such sustainability issues.For instance, the Coca-Cola European partners pledged to collect all packaging in Western Europe and recycle 50% of the plastic used in PET bottles by 2025.
PepsiCo announced a long-term objective of using 50% recycled plastic in its bottles throughout the European region by 2030 and an interim goal of around 45% by 2025. Several big food manufacturers are also attempting to change their plastic packaging practices and move toward a "circular economy."
• In July 2022, the United States, California passed legislation extending producer responsibility regulations and reducing plastic pollution. California must recycle 30% of all plastic packaging by January 2028, 40% by January 2030, and at least 65% by January 2032, according to the law SB 54. In addition, SB 54 mandates a 25% source reduction of single-use plastic waste compared to 2023 levels, which means that by 2032, the industry must have ceased to distribute an amount of plastic equal to 25% of the amount of plastic packaging that was made available in California during the 2023 economy.
• In April 2022, Amcor announced the addition of new, eco-friendly High Shield laminates to its line of pharmaceutical packaging. The new low-carbon packaging options help pharmaceutical companies achieve their recyclability objectives while satisfying industry needs for high barriers and performance. These new High Shield technologies offer options for sachet, stick, and strip pharmaceutical packaging composed of paper- and polyolefin-based materials that is more environmentally friendly. The innovative material structure makes it possible for pharmaceutical companies to be recyclable in accordance with local expectations, which helps them stand out from the competition.
Global Flexible Packaging market is segmented by product type, material type, printing technology and application type. Based on product type, the market is divided into pouches, rollstocks, bags and others (blisters, wraps, sachet, etc.). Based on material type, the market is segmented into plastic, paper, aluminium foil and others (cellulose, recycled plastics & laminates)), Based on printing technology, the market is segmented into flexography, rotogravure, digital printing and others (offset lithography, screen printing, etc.). Based on application, the market is segmented into Food & Beverages, Healthcare, Cosmetics & Toiletries and Others (Textiles, Agro-business, Industrial and Chemicals, etc.)
Mondi Group, Huhtamäki Oyj, Berry Global, Inc, Uflex Ltd, DS Smith plc, Dow Packaging & Specialty Plastics, Constantia Flexibles, Aluflexpack Novi d.o.o, Clondalkin Group Holdings B.V. and Sealed Air Corporation are key market players.
In this report, Global Flexible Packaging Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Global Flexible Packaging market by product type:
• Global Flexible Packaging market by material type:
o Aluminium Foil
• Global Flexible Packaging market by printing technology:
o Digital Printing
• Global Flexible Packaging market by application:
o Food & Beverages
o Cosmetics & Toiletries
• Global Flexible Packaging Market, By Region:
o North America
o South America
o Middle East & Africa
Company Profiles: Detailed analysis of the major companies in Global Flexible Packaging Market.
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
• Detailed analysis and profiling of additional market players (up to five).
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