Flexible Packaging Market – Industry Trends and Forecast Analysis (2022-2029)

Flexible Packaging market is expected to reach US$ 245.36 Bn. in 2029, with a CAGR of 4.8% for the period 2022-2029, because of the growing demand in the several industries.
Flexible Packaging Market Introduction:
Flexible packaging has been around for a while, but technological advancements are allowing the industry to design more functional solutions. Film-faced pouches have shown considerable growth in recent years. These adaptable packaging options can effectively communicate a company message, meet environmental concerns, and boost profits.

More firms are turning to sustainable packaging to meet consumer demand, keep ahead of regulations, and be ecologically reliable, particularly in the case of single-use packaging. Stand-up pouches are a popular flexible packaging solution that is rapidly increasing. They are not only more convenient for consumers and provide more advertising area for businesses, but they also need less energy to manufacture and have a lower carbon footprint than rigid containers. Consider the number of rigid style containers that can be sent against the number of flexible pouches that can be transported on a truck.

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Adaptable to Digital Printing:
Industry needs for shorter runs, more personalized packaging, better sustainability, and the need to help products stand out, even more, have fueled the growth of digital printing in recent years. Consumer products companies can use digital printing to create high-impact images for optimal branding and shelf appeal. For instance, Recoflex-PE, a recyclable PE laminate with barrier qualities and sealing performance comparable to multi-polymer designs, was introduced by Parkside in 2021. The unique solution can be utilized for most flow wraps, pouches, or bags that require a high barrier and are not suitable for usage in extreme temperatures and is recoverable through current carrier bag collecting systems at prominent retailers.

COVID-19 Impact on Flexible Packaging Market:

Because of Covid-19 buying trends progress, the sustainability agenda is back at the forefront of consumer concerns. Consumers needed pack hygiene and safety features at the height of the pandemic. Sealed packaging containing products that had never been handled by a human hand, as well as integrated safety precautions, became popular. As the appeal of 'clean' hygienically wrapped items was thought appealing, a plastics renaissance ensued, with flexible packaging benefiting. As global supply chains return to normal, environmental concerns are resurfacing as a top priority for consumers, and plastic-based flexible packaging will once again be in the limelight.



Outlook For Chemical Demand Growth:

Global population growth and the increasing middle class are the megatrends in the packaging industry. These megatrends are expected to result in an approximately 45 percent increase in worldwide chemical demand over the next decade or around 4% per year. This increase exceeds projections for energy and

GDP growth over the same period. The following are expected effects on the plastics industry:

• As earnings rise, so will consumer demand for plastics, fertilizers, and other chemicals.
• Olefins and aromatics are important components of plastics and other consumer goods.
• Plastics are viewed by manufacturers as lightweight, durable materials that may increase product performance in a variety of applications, including packaging, automobile parts, and medical devices.

The developing world is expected to account for nearly all of this development, with the Asia-Pacific area accounting for two-thirds of it. By 2029, India and China are expected to have middle-class populations of more than one billion people each, fuelling demand for packaging and, in particular, polyethylene (PE).

SoFresh manufactures Active Packaging Films & Containers:

So Fresh is a food-saving packaging startup established in the United States. The company is working on ways to infuse food-grade natural extracts into film or containers, resulting in a controlled release of active vapour in the food item. Mold spores absorb the vapour, slowing their metabolism and making it difficult for them to live. Standard and custom bread and bakery packaging, over-wrap films, lid stock materials, and barrier laminations are all available from SoFresh. Its technique has been tested on foods including bread, cheese, and berries, making it ideal for enterprises that sell these foods. Companies can use SoFresh's active packaging technology to lengthen food travel time, shelf life, and consumption time, reducing spoilage and wastage.

Impactful Health R&D develops Compostable Active Packaging for Fish:

Impactful Health R&D, a Canadian firm, is working on a packaging solution to extend the shelf life of fresh fish. The company offers an active film-based technology with antibacterial components sourced from natural sources. Their packaging is 100 percent biodegradable and meets the Food and Drug Administration's (FDA) criteria for oxygen transfer rate. The film can also be used to preserve the texture of the fish in the skin or vacuum packaging applications. The startup's innovation has the potential to extend the shelf life of fish by a significant length of time. These aids fish merchants, resellers, and the aquaculture business in reducing losses.

HUIDE PACKAGING manufactures Kraft Paper Bags and Boxes:

HUIDE PACKAGING is a Chinese start-up that creates customised paper packaging solutions. Their in-house packaging engineers are experts in designing a structure that protects the item from harm. In addition, the graphic team crafts a design that is consistent with the company's branding strategy and displays a 3D mock-up of the final design. And, before mass-producing custom packaging, the company turns package concepts into physical prototypes. The firm uses automated gear to produce unique packaging quickly, and printing is done on an 8-color, water-based flexo press. Finally, machinery capable of foil-stamping, spot UV, debossing & embossing, gloss lamination, varnish, and other processes are used to design and decorate the package.
The Future Of Flexible Packaging:
Adhesives for the packaging industry: catching up

Many of flexible packaging's environmental and functional advancements would not have been achievable without the development of a more fundamental building block of flexible packaging – adhesives.

Laminating adhesives must stay up with laminate and film goods as they strive to improve their environmental and safety performance while keeping high-performance standards. Many adhesives experts have now produced high-performance adhesive compounds that also meet biodegradability and compostability standards, such as the EN13432 standard of the European Union. EN13432 mandates that 90 percent of biodegradable packaging be converted to CO2 within 180 days, as well as requirements for heavy metal content and natural plant growth restriction.

The new adhesives also have high-performance standards, such as lengthy workability periods and good wetting behavior for a glossy laminate look, in addition to these environmental and safety benefits. Because flexible substrates can struggle with chemically active fillings, the adhesives also include a hardener with a silane-free adhesion promoter to improve chemical resistance to acidic contents. If adhesives are to stay up with the demands of the flexible market, they must be able to do it all, as the new Liofol solutions indicate.

The objective of the report is to present a comprehensive analysis of the global Flexible Packaging market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Flexible Packaging dynamics, structure by analyzing the market segments and projecting the Flexible Packaging size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Flexible Packaging market make the report investor’s guide.
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Flexible Packaging Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 168.62 Bn.


Forecast Period 2022 to 2029 CAGR:
4.8%
Market Size in 2029:
US $ 245.36 Bn.


 Segments Covered:
by Product Type
• Bags
• Wraps
• Pouches
• Rollstock
• Others (include Labels, stick packs and sachets)


by Material
• Plastic
• Aluminum Foil
• Others (include coating, ink, coating, and adhesive)


by Application
• Food
• Beverage
• Pharma & Health care
• Personal care & Cosmetics
• Others (includes consumer goods, oil & lubricants, agriculture, automotive, household products,  tobacco, and sporting goods)


by Technology
• Flexography
• Rotogravure
• Digital Printing
• Others (include screen, offset, and letterpress printing)



Flexible Packaging Market, by Region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
Flexible Packaging Market, Key Players
• Berry Global Inc.
• Amcor Plc
• Flex Pak Services LLC
• Mondi Group
• Sealed Air Corporation
• Constantia Flexibles
• Transcontinental Inc.
• Coveris Holding SA
• Huhtamaki
• Sonoco
• Clondalkin Group
• Bemis Company
• Aluflexpack novi
• Bak Ambalaj Sanayi
• Danaflex
• DS Smith
• Glenroy
• Printpack
• ProAmpac
• Others

Frequently Asked Questions:

1. Which region has the largest share in Flexible Packaging Market?
Ans: The Asia Pacific held the largest share in 2021.

2. What is the growth rate of the Flexible Packaging Market?
Ans: The Flexible Packaging Market is growing at a CAGR of 4.8% during the forecasting period 2022-2029.

3. What segments are covered in the Flexible Packaging market?
Ans: Flexible Packaging Market is segmented into Product Type, Application, Technology, and Region.

4. Who are the key players in the Flexible Packaging market?
Ans: The important key players in the Flexible Packaging Market are – Berry Global Inc., Amcor Plc, FlexPak Services LLC, Mondi Group, Sealed Air Corporation, Constantia Flexibles, Transcontinental Inc., Coveris Holding SA, Huhtamaki, Sonoco, Clondalkin Group, Bemis Company, Aluflexpack novi, Bak Ambalaj Sanayi, Danaflex, DS Smith, Glenroy, Printpack, ProAmpac, and Others

5. What is the study period of this market?
Ans: The Flexible Packaging Market is studied from 2021 to 2029.