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PACKAGING

Flexible Packaging Market Analysis by Type (Bags & Pouches, Rollstocks, Wraps, and Others); by Material (Plastic, Paperboard, Aluminum Foil PET Films, and Others); by Printing Technology (Digital, Flexography, Rotogravure, and Others); and by End-User Industry (Food & Beverage, Cosmetics, Pharmaceuticals, Automotive, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • Amcor Limited latest technology to focus on reducing the weight in packaging. Amcor Rigid Packaging has designed and developed lightweight technology, Quantum, that was able to reduce about 50% of weight from the packaging.

  •  ProAmpac Intermediate, Inc., a leading company in material science and flexible packaging to receive a certificate from Biodegradable Product Institute (BPI). The certificate has been provided to the company for its ProActive Compostable CPM-2000 which is a paper-based laminate for dry fruits.

Global Flexible Packaging Market Size, Forecast, and Trend Highlights Over 2023 - 2033

Base Year

2022

Forecast Year

2023-2033

CAGR

~5%

Base Year Market Size (2022)

~USD 65 Billion

Forecast Year Market Size (2033)

~USD 100 Billion

 

The global flexible packaging market is estimated to garner a revenue of USD 100 billion by the end of 2033 by growing at a CAGR of ~5% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of USD 65 billion in the year 2022. The growth of the market can primarily be attributed to the growing health expenditure boosting the demand for R&D, and consumption of medicines across the globe. According to the World Bank statistics, global health expenditure was stated to reach 1,121.9 U.S. dollars per capita in 2019

flexible packaging overview image

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Global flexible packaging market trends such as, the growing consumption of ready-to-drink beverages is projected to influence the growth of the market positively over the forecast period. The total sales volume of ready-to-drink alcoholic beverages was anticipated to be around 60 million nine-liter cases in 2021. Moreover, the constantly rising demand for beauty products and escalating inclination of men toward personal grooming is further expected to hike the growth of the market over the forecast period. For instance, around USD 500 billion of revenue was generated by the beauty & personal care segment alone in 2022. Such factors are anticipated to hike the growth of the market over the forecast period.

Global Flexible Packaging Market: Growth Drivers and Challenges

Growth Drivers

Growing Demand for Flexible Packaging in Pharmaceutical  

As of 2021, the pharmaceutical industry was estimated to generate nearly USD 1.5 trillion.  Flexible packaging is highly required in the pharmaceutical industry since it can preserve medicines and drugs which is very helpful in the distribution procedure. Flexible packaging can be molded in any shape which becomes quite suitable to pack tablets and capsules. Hence, such a higher utilization is expected to push the growth of the market over the forecast period.

Increasing Sales of Personal Care Products

In 2022, the total revenue generated by the personal care segment was anticipated to be nearly USD 10 billion.

Higher Demand and Distribution of Ready-to-Eat Food

The ready-to-eat meals segment was valued at nearly USD 55 billion in 2022.

 Remarkable Increment in the Net National Income

As per the report published by the World Bank, the adjusted net national income worldwide hit approximately USD 8,000 per capita in 2020.  

Spiking Utilization of Flexible Packaging in the Automotive Industry

For instance, in 2021-22, the total sales of the passenger vehicle were estimated to be around 3 million units while nearly 1 million units of utility vehicles were sold out in 2021.

Challenges

  • Presence of Alternatives in the Market
  • Requirement for Higher Initial Investment
  • Disrupted Supply-Chain due to COVID-19

The global flexible packaging market is segmented and analyzed for demand and supply by the end-user industry into food & beverage, cosmetics, pharmaceuticals, automotive, and others, out of which, the pharmaceuticals segment is projected to witness noteworthy growth over the forecast period. The growth of the segment can be accounted to the increasing demand and utilization of flexible packaging in the pharmaceutical industry. As of 2021, the revenue generated by pharma was estimated to be nearly USD 1.5 trillion.   

Global Flexible Packaging Market Regional Synopsis

Regionally, the global 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 the Asia Pacific region is projected to hold the largest market share by the end of 2033. The growth of the market in the region can be accounted to the rising demand for medicines and growing health expenditure. For instance, in 2019, the health expenditure of China was estimated to hit nearly USD 500 per capita while for India, it was estimated to be approximately USD 60 per capita. Such factors are estimated to hike the growth of the market during the forecast period.

flexible packaging share image

The global flexible packaging market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global flexible packaging market includes the following segments:

 

 

          By Type

  • Bags & Pouches
  • Rollstocks
  • Wraps
  • Others

 

 

          By Material

  • Plastic
  • Paperboard
  • Aluminum Foil PET Films
  • Others

 

 

          By Printing Technology

  • Digital
  • Flexography
  • Rotogravure
  • Others

 

 

           By End-User Industry

  • Food & Beverage
  • Cosmetics
  • Pharmaceuticals
  • Automotive
  • Others

Top Featured Companies Dominating the Global Flexible Packaging Market

  • ProAmpac Intermediate, Inc.
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Amcor Limited
  • Printpack, Inc.
  • Bemis Company, Inc.
  • Huhtamäki Oyj
  • Berry Global Inc., 
  • Glenroy, Inc.
  • Mondi plc
  • DS Smith plc
  • Sealed Air Corporation

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