The Flexible Packaging Market is estimated to be valued at US$ 68.5 Bn or Billion in 2022 and is expected to exhibit a CAGR of 4.6% over the forecast period 2022 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Flexible packaging refers to packaging that uses materials with high elasticity and can be easily compressed or stretched without tearing or cracking. It includes packaging materials such as plastic films, paper, aluminum foil, tapes etc. Flexible packaging offers advantages such as lightweight, convenience, durability and cost-effectiveness. It maintains the freshness and quality of packaged food items. Flexible packaging finds extensive application in food beverage industry for packaging snack foods, sauces dressings, frozen foods, fresh foods etc.
Key Takeaways
The global flexible packaging market is expected to witness high growth, exhibiting CAGR of 4.6% over the forecast period, due to increasing consumer demand for packaged and convenience foods.
Regional analysis:
North America dominates currently due to large food processing industry. Asia Pacific exhibits fastest growth led by China and India with rising middle-class population demanding packaged goods. Europe and Latin America also present business opportunities.
Key players:
Key players operating in the flexible packaging market are Amcor Limited, Bemis Company, Sealed Air Corporation, Berry Plastics Group, Inc., Mondi Group, Sonoco Products Co., Huhtamäki Oyj, Constantia Flexibles Gmbh, Ampac Holdings, Llc, Bischof + KleinInternational, Wipak Group, AR Packaging, Goglio Group, Schur Flexibles, Clondalkin Group, Flair Flexible Packaging Solution Cellpack Packaging, and Südpack Verpackungen.
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