ASEAN Flexible Packaging Market size is poised to cross USD 12000 million by the end of 2033, growing at a CAGR of 5% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of ASEAN flexible packaging was over USD 6000 million. The growth of the market can primarily be attributed to the rising prevalence of e-commerce worldwide. It is estimated that in 2021, the e-commerce sales were valued at about USD 5 trillion across the globe.
Global ASEAN flexible packaging market trends such as, significant growth in the retail sector and rising inclination toward online shopping are projected to influence the growth of the market positively over the forecast period. For instance, the sales generated by the retail sector across the globe was estimated to hit approximately USD 25 trillion in 2021. Additionally, rising disposable income and growing awareness of personal care are further anticipated to push the growth of the market throughout the forecast period. The disposable income of the United states was projected to reach around 55,000 U.S. dollars per capita while the disposable income of India was estimated to drop to around 29,00,000 in the similar year. Hence, all these factors are expected to propel the market growth during the forecast period.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
~5% |
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Base Year Market Size (2022) |
~USD 6000 Million |
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Forecast Year Market Size (2033) |
~USD 12000 Million |
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Regional Scope |
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Type {Bags (Gusseted, Wicketed Bags), Pouches (Retort, Vacuum, Stand-Up)}
The global ASEAN flexible packaging market is segmented and analyzed for demand and supply by type into bags and pouches, out of which, the bags segment is projected to witness noteworthy growth over the forecast period. The growth of the segment can be accounted to the rising utilization of bags in countless activities. For instance, in 2022, the bags & container segment was valued at about USD 40 billion.
Our in-depth analysis of the global market includes the following segments:
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By Type |
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By Layer |
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By Material |
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Regionally, the global ASEAN flexible packaging market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North America region is projected to hold the largest market share by the end of 2033. The growth of the market in the region can be ascribed to the growing demand in the food and beverage industry of the region. For instance, in 2022, the food & drink segment in the region was estimated to reach approximately USD 28 million. Additionally, higher penetration of the key players in the region is further estimated to hike the market growth during the forecast period.
Constantia Flexibles Group GmbH to talk about more sustainable packaging solutions for goods at PACK EXPO 2022. PACK EXPO International is a prestigious trade show that allows multiple companies to exhibit their ideas and solutions.
Amcor Limited, the company associated with the development of responsible packaging solutions, announces about its investment in ePac Flexible Packaging. The investment has been made to expand the market area of Amcor.
Author Credits: Sadaf Naaz, Mohd Shadab
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