The global flexible packaging market size was estimated at USD 270.96 billion in 2023 and is expected to expand at a CAGR of 4.8% from 2024 to 2030. Increasing consumption of flexible packaging products in medical and pharmaceutical sectors is driving their demand. These products offer various advantages, such as container variety, need for less raw materials, ease of disposal, and lightweight nature, which are expected to fuel their demand over the forecast period.

According to the Flexible Packaging Association, nearly 34.7 million tons of all produced food is sent to landfills annually. Food waste generates 27.0 million tons of carbon dioxide. In addition, there are other indirect effects of food production on the environment, which include the greenhouse gases generated from cattle breeding, farm machinery, vehicles that transport food, and nutrient runoff from fertilizers that often lead to water pollution.

Gather more insights about the market drivers, restrains and growth of the Global Flexible Packaging Market

Flexible Packaging Market Segments Highlights:

• Based on material, plastics dominated the market with the largest revenue share of 69.08% in 2023. The demand for plastic in flexible packaging industry is expected to increase over the next seven years.
• The paper segment is expected to grow at a significant growth rate over the forecast period. The growing demand for sustainable packaging materials has driven the demand for paper in flexible packaging applications.
• Based on product, the pouches segment dominated the market with the largest revenue share in 2023.
• The films & wraps segment is anticipated to grow at the fastest CAGR over the forecast period. Flexible films for packaging applications consist of multiple layers of plastic films that stick to each other.
• Key applications for flexible packaging products include food, beverages, pharmaceutical & healthcare, and personal care & cosmetics among others. The food segment dominated the market with the largest revenue share in 2023.
• Growing demand for packaged foods, including ready-to-eat meals, frozen meals, snack foods, and cake mixes, is expected to force flexible packaging manufacturers to increase production capacity, thus augmenting flexible packaging market demand over the forecast period.
• North America has several flexible packaging manufacturers such as Amcor plc, ProAmpac, Mondi, American Packaging Corporation, Cheer Pack North America, and Eagle Flexible Packaging.
• The flexible packaging market in the U.S. is expected to grow significantly over the forecast period due to the growing demand for packaging of food & beverage and healthcare products.
• Asia Pacific dominated the global flexible packaging market and accounted for the largest revenue share of around 43.0% in 2023. The region has witnessed a significant increase in disposable income among consumers, thereby enabling them to buy products from a sizable number of retail locations.
• Europe region is expected to witness increasing demand for flexible packaging products owing to the high growth of food & beverage sector.
• The countries in Central & South America such as Brazil, Argentina, and Chile have a well-established tomato puree processing industry.
• The flexible packaging market in the Middle East & Africa is undergoing a major transition owing to increasing consumer awareness and the introduction of a large number of soft drinks. These factors have led to an increasing inclination for natural and cleaner diets and a growing preference for packaged natural food which are expected to increase the demand for flexible packaging solutions over the forecast period.

Browse through Grand View Research's Plastics, Polymers & Resins Industry Research Reports.

• Polytetrafluoroethylene Market: The global polytetrafluoroethylene market size was valued at USD 3.63 billion in 2023 and is projected to grow at a CAGR of 5.5% from 2024 to 2030.
• Medical Grade Silicone Market: The global medical grade silicone market size was valued at USD 601.7 million in 2024 and is expected to register a CAGR of 7.4% from 2025 to 2030.

Recent Development:

• In May 2024, Amcor and AVON both combinedly launch the AmPrima Plus refill pouch for the AVON Little Black Dress classic shower gels in China. The recycle-ready packaging will result in an 83% reduction in carbon footprint, and 88% and 79% reduction in water consumption and renewable energy respectively when it's recycled.
• In August 2023, Amcor acquired Phoenix Flexibles, expanding its capacity in Indian market. Phoenix Flexibles is situated in Gujarat, India, and generates revenue of approximately USD 20 Mn per year from the sale of flexible packaging for food, home care and personal care applications. The acquisition also adds advanced film technology, enabling local production of a broader range of more sustainable packaging solutions, and brings capabilities allowing Amcor to expand its product offering in attractive high-value segments.
• In February 2023, Sealed Air acquired Liquibox for a purchase price of USD 1.15 Bn on a cash and debt-free basis. Liquibox is a pioneer, innovator and manufacturer of Bag-in-Box sustainable fluids & liquids packaging and dispensing solutions for fresh food, beverage, consumer goods and industrial end-markets.

Key Companies & Market Share Insights:

The market is highly fragmented with the presence of a sizable number of small and medium-sized companies. Key players mainly cater to food and beverage, pharmaceuticals, and cosmetics industries. Flexible packaging industry has been witnessing a significant number of mergers & acquisitions and new product launches over the past few years.

The following are the leading companies in the flexible packaging market. These companies collectively hold the largest market share and dictate industry trends.

• Amcor plc
• Mondi Group
• Huhtamaki Flexible Packaging
• Sonoco Products Company
• Sealed Air
• DS Smith
• Berry Global
• Constantia Flexibles
• Bemis Manufacturing Company
• UkrMetal
• ProAmpac
• Wipak Group
• FlexPak Services
• Transcontinental Inc.
• Coveris Holdings
• American Packaging Corporation
• InterFlex Group
• FLEX-PACK ENGINEERING, INC.
• Innovia Films
• Cosmo Films
• Novolex
• Sigma Plastics Group
• Graphic Packaging International, LLC
• Bischof+Klein SE & Co. KG
• Südpack

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