Flexible Plastic Packaging Global Market To Reach Value Of About $182 Billion In 2025
2 Jun, 2021
The flexible plastic packaging market consists of sales of flexible packaging by entities (organizations, sole traders, and partnerships) that manufacture flexible plastic packaging. Flexible packaging is economical and convenient way to package, preserve, and distribute food items, pharmaceuticals, cosmetic & personal care items, consumer storage and other consumables. Flexible plastic packaging involves various types of plastic material used for packaging different products such as snacks, beverages, vegetables, and others. Plastic materials used in flexible plastic packaging include polyethylene, polypropylene, polystyrene, and polyvinyl chloride among others.
Global Flexible Plastic Packaging Market Size And Drivers:
The global flexible plastic packaging market is expected to grow from $143.79 billion in 2020 to $151.92 billion in 2021 at a compound annual growth rate (CAGR) of 5.7%.The growth is due to the increasing e-commerce industry in emerging economies and the increasing demand from food and beverage industry. The flexible plastic packaging market is expected to reach $182.04 billion in 2025 at a CAGR of 4.6%. High consumption of processed and packaged food propelled the demand for flexible plastic packaging during the period.
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Trends In The Global Flexible Plastic Packaging Market
The launch of innovative packaging to attract more customers and expand the customer base of the company is a key trend in flexible plastic packaging. The companies operating in the flexible packaging market are focusing on manufacturing innovative and sustainable packaging solutions for end-users. For example, in February 2021, FreeForm Packaging AB, a Sweden-based packaging company launched one-sided stretchable paper laminate which is based on 85% paper. Stretchable paper laminate has two layers of fiber form, a thin layer of polyethylene is present on one of the layers which protects packaging and content.
Global Flexible Plastic Packaging Market Segments:
The global flexible plastic packaging market is further segmented based on type, technology, application and geography.
1) By Type: Stand-Up Pouches, Flat Pouches, Rollstock, Gusseted Bags, Wicketed Bags, Wraps, Others
2) By Technology: Flexography, Rotogravure, Digital Printing, Others
3) By Application: Food, Beverage, Pharms & Health Care, Personal Care & Cosmetics, OthersBy Geography: The global flexible plastic packaging market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the flexible plastic packaging market.
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Flexible Plastic Packaging Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides flexible plastic packaging market overviews, analyzes and forecasts market size and growth for the global flexible plastic packaging market, flexible plastic packaging market share, flexible plastic packaging market players, flexible plastic packaging market segments and geographies, flexible plastic packaging market’s leading competitors’ revenues, profiles and market shares. The flexible plastic packaging market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.