Flexible Packaging Market Size, Demand, Volume, Forecast

Flexible Packaging Market Size, Trends & Growth Rate

The global flexible packaging market size to rise from 323.25 bn in 2025 to 406.70 bn by 2030. The insights provides the international shipment of flexible intermediate bulk containers and packaging materials from India, Spain, and Singapore to major U.S. ports in 2024.

Flexible Packaging Market Companies, Size and Growth Rate

The global flexible packaging market size was valued at USD 294.88 billion in 2023 estimated to reach USD 488.72 billion by 2034, increasing at a CAGR of 4.7% between 2024 and 2034.

Flexible Packaging Market Size 2023 – 2034

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Flexible packaging is a rapidly expanding sector within the packaging industry, offering enhanced value and market appeal for food and non-food items. It leverages the advantageous attributes of plastic, film, paper, and aluminum foil, synergistically providing a wide array of protective features while minimizing material usage.

The industry is experiencing an exceptional rate of progress, driven by continuous innovation and technological advancements. These advancements have resulted in the creation of lighter-weight packaging solutions that significantly improve the shelf appeal, strength, product protection, and sealability of flexible packaging. There are numerous noteworthy examples of innovation within the flexible packaging realm. Each of these innovations originates from a concept aimed at achieving objectives such as extending the freshness of meat, reducing shipping costs, and ensuring safer consumption of medications. With its remarkable versatility, customizable attributes, resource efficiency, and commitment to sustainability, there has never been a more opportune moment to contemplate a transition to flexible packaging.

Enhanced Barrier Properties: The market players in this sector are continuously introducing excellent quality packaging for products. It is to provide extra protection from adverse climatic conditions such as light, oxygen, and moisture.

Customization Option: These flexible packaging can be customized easily according to the requirement which makes it more preferrable by several companies and acceptable in a wider section.

Portable and Convenient Packaging: These are easy-to-use and portable packaging that can be carried everywhere such as resealable pouches which make it user-friendly.

Market Potential 

Rising Demand in Several Sectors

Packaged food products require safety in packaging as they can be stored and transported to several places without any leakage or damage. In various sectors such as food & beverages, pharmaceuticals, skincare & makeup, and several others there is a huge requirement for multiple sizes of packaging for different products that increase the market potential of this field. They are highly efficient and lightweight weight cost less for the transportation of products making them an ideal choice for brands.

Shipment Details of Flexible Intermediate Bulk Containers and Packaging Materials to the U.S. (2024)

Product Type Loading Port Unloading Port Quantity Weight (kg) Carrier Arrival Date
Flexible Intermediate Bulk Containers Mundra, India Charleston, SC 44 packages 18,335 ONE Reinforcement 2024-09-29
Flexible Packaging Jawaharlal Nehru, India New York, NY 1 package 596 ONE Reinforcement 2024-09-29
Flexible Packaging Material Jawaharlal Nehru, India New York, NY 148 packages 1,973 CMA CGM Pelleas 2024-09-27
Flexible Packaging Material (Spain) Barcelona, Spain Newark, NJ 29 packages 2,220 OOCL Europe 2024-08-24
Flexible Packaging Material (India) Jawaharlal Nehru, India Newark, NJ 25 packages 1,186 Teno 2024-08-22
Flexible Intermediate Bulk Containers Singapore Los Angeles, CA 42 packages 18,335 OOCU7569896 2024-06-02

Analysing Regional Demand and Market Share in the Flexible Packaging Market

India is poised to experience substantial growth within the Asia-Pacific region, particularly in the packaging sector. Packaging stands as the fifth-largest industry in the Indian economy and holds a prominent position as one of the fastest-growing sectors in the country. The Packaging Industry Association of India (PIAI) reports a robust annual growth rate of 22-25% for the sector.

The demand for packaging has been witnessing significant growth due to several factors, including the expanding population, rising income levels, urbanization, evolving lifestyles, increasing internet penetration, and a growing economy. These factors collectively contribute to an increased need for packaging solutions to cater to the changing consumer landscape and rising consumer expectations.

In recent years, India has experienced a notable upswing in the sustainable packaging sector due to the rising consumption of packaged food, increased consumer awareness, and growing demand for high-quality products. This surge in consumer awareness is particularly evident in packaged food deliveries.

The packaging industry in India is actively shifting towards flexible packaging, driven by its numerous advantages in terms of energy efficiency and environmental sustainability. Flexible packaging combines the favourable attributes of plastic, paper, and aluminium foil, ensuring optimal product freshness, superior barrier protection, durability, excellent printability, and user-friendly functionality.

The coming decade is expected to witness continued growth in the industry, albeit with increased pressure and disruptive changes. While the growth rate in China is slowing down, it, along with other Asian markets, will remain the primary driving force for industry growth alongside North America. However, the significant increase in plastic usage has raised concerns about its environmental impact, leading to the implementation of stricter regulations.

Furthermore, the rise of e-commerce has brought significant benefits to many converters in the industry. However, it has also created new challenges and intensified competition, resulting in tighter profit margins for converters' customers, particularly fast-moving consumer goods (FMCG) companies and retailers. They are now faced with new demands and the need to adapt quickly to the evolving e-commerce landscape.

The key observation is that North America has ascended to the second-largest market globally, trailing behind China regarding packaging consumption. China recorded an estimated packaging consumption of around USD 214 billion, while North America reached approximately USD 203 billion. Projections indicate that by 2022, China's lead will further widen to USD 276 billion, rendering North America's market approximately 78 percent the size of China's market in terms of value.

Although developed regions like North America and Europe are experiencing lower growth rates, their substantial absolute size maintains their significance within the industry. Despite this, there are still discernible opportunities for growth within these regions. To illustrate the relative proportions, the industrial/transit packaging sector anticipates a rise in apparent consumption to approximately USD 78 billion for North America and USD 62 billion for Western Europe by 2022. This cumulative figure surpasses the forecasted total packaging demand for other Asian markets (excluding China and Japan), estimated at around USD 129 billion.

In the food sector, representing the most significant consumer packaging segment, other Asian markets (excluding China and Japan) emerge as the primary emerging market, with a projected consumption of approximately USD 35 billion by 2022. However, it should be noted that this value remains significantly smaller than the combined total of approximately USD 120 billion for North America and Western Europe (USD 69 billion and USD 51 billion, respectively).

Analysing Segment-specific Demand and Market Share in the Flexible Packaging Market

The food and beverages segment has historically held a significant market share, accounting for approximately 56%. This can be attributed to the widespread adoption of flexible packaging for storing and transporting food and beverages, which is expected to drive the segment's growth during the forecast period. The nonfragile and lightweight nature of flexible packaging has been instrumental in its market expansion, making it a cost-effective alternative to rigid packaging.

  • Instance, in 2022, PPC Flexible Packaging LLC has successfully executed the acquisition of Plastic Packaging Technologies, LLC, in an undisclosed deal. This acquisition serves as a catalyst for PPC's expansion in the North American market, bolstering its range of cutting-edge packaging formats and flexible packaging solutions. With a particular focus on the food and beverage, healthcare, and specialty consumer sectors, PPC aims to offer enhanced value and innovation to its customers. By integrating Plastic Packaging Technologies, PPC strengthens its position as a prominent player in the packaging industry, poised to deliver comprehensive solutions and capitalize on strategic growth opportunities.

In developing and developed nations, household dynamics and busy lifestyles have altered consumption patterns. The prevalence of dual-income households in developed countries has led to a surge in the consumption of ready-to-eat and ready-to-cook meals, creating a substantial demand for flexible packaging. Meanwhile, rapid industrialization and urbanization in developing nations have similarly influenced lifestyles and consumption habits. Consequently, there has been increased food consumption from restaurants, packed food, and processed food, resulting in a growth in the demand for flexible packaging.

The growing demand for various types of snacks, which often substitute for full meals, is expected to drive flexible packaging consumption. Pouches will likely experience increased usage for packaging a wide range of food products. Packaging options utilizing nitrogen to preserve product quality, texture, and colour are particularly favourable. Furthermore, the pharmaceutical industry is anticipated to witness an upswing in packaging usage.

To effectively convey their brand identity, companies emphasize packaging that facilitates consumer differentiation between organizations. This strategic focus on packaging aims to communicate the distinctiveness of various brands to consumers.

Overall, the market for flexible packaging is poised for growth due to its advantages in the food and beverages segment, evolving consumption patterns driven by changing lifestyles, increased demand for snacks, and the need for effective brand communication in diverse industries.

Recycling difficulties in the Flexible Packaging

The efficient recycling of plastic waste necessitates the presence of advanced infrastructure facilities. However, infrastructure facilities worldwide are encountering challenges in effectively recycling plastic materials. For instance, in the United States alone, over USD 11 billion in plastic products are discarded annually due to recycling difficulties. According to the United Nations Environment Programme, the global production of plastic waste amounts to a staggering 330 million tons annually.

Regrettably, only a merger 9% of plastic is currently being recycled, with a mere 14% being collected for recycling purposes. The difficulties associated with recycling plastic materials pose a significant obstacle to the growth of the flexible plastic packaging market. These challenges in the recycling process of plastic products are projected to impede the expansion of the flexible plastic packaging market in the foreseeable future.

The limited progress in plastic recycling poses environmental concerns and hampers the development of a circular economy. As plastic waste accumulates, the demand for sustainable packaging solutions such as flexible plastic packaging faces hurdles. The lack of efficient recycling practices increases reliance on virgin plastic production, exacerbating environmental degradation and resource depletion.

Addressing the difficulties in plastic recycling requires concerted efforts from multiple stakeholders, including governments, businesses, and consumers. Investments in developing advanced recycling technologies and infrastructure are essential to improve recycling rates and effectively process plastic waste. Additionally, promoting awareness and encouraging responsible consumption and disposal habits among consumers can reduce plastic waste and foster a more sustainable packaging ecosystem.

The challenges encountered in recycling plastic materials pose significant barriers to the growth of the flexible plastic packaging market. Efforts to overcome these difficulties through advancements in recycling infrastructure and technology are crucial to foster a circular economy and mitigating the environmental impact of plastic waste.

Strong Consumer Demand for Environment-Conscious Flexible Packaging Solutions

Implementing new regulatory initiatives by governments worldwide has created a compelling impetus for plastic packaging manufacturers to explore innovative packaging solutions and drive the growth of the packaging industry.

Manufacturers are increasingly recognizing the importance of sustainable packaging solutions as a means to reduce costs and ensure the preservation of product integrity. Sustainable packaging options are characterized by using fewer materials, resulting in cost savings and environmental benefits. Furthermore, these solutions reduce transportation expenses and enable extended shelf-life for packaged products, enhancing customer satisfaction and minimizing waste.

  • Instance, August 2022, Mondi and Henkel have collaborated to facilitate environmentally conscious dishwashing practices by developing a cutting-edge reusable packaging solution. This strategic partnership has resulted in the creation of an innovative packaging concept for Henkel's hand dishwashing solutions, enabling the convenient refilling of plastic bottles from flexible pouches. The joint effort aligns with Henkel's ambitious sustainability goals, aiming to achieve 100% recyclable or reusable packaging by 2025 while also targeting a significant 50% reduction in virgin plastic derived from fossil fuels. By replacing rigid plastic bottles with versatile stand-up pouches, the collaboration achieves a remarkable 70% reduction in plastic consumption while ensuring the simplicity of recycling in regions equipped with well-established recycling infrastructure.

Given the stringent government regulations, mounting environmental pressures, and evolving consumer preferences, manufacturers are expected to prioritize the development of recyclable and sustainable flexible plastic packaging solutions. This strategic focus stems from the need to comply with regulations, address environmental concerns, and cater to the demands of eco-conscious consumers.

  • Instance, In April 2022, GOOD PLANeT Foods took proactive measures to revamp its entire lineup of plant-based cheeses in preparation for substantial projected growth in the same year. Capitalizing on recent distribution advancements, including partnerships with prominent supermarkets such as Giant Martin, Giant Eagle, and Hy-Vee, and expanding national distribution in Sprouts, the company made strategic decisions to improve both the formulation and packaging of its products. As part of this initiative, GOOD PLANeT opted for Belmark's recyclable flexible pouches, which elevate the product's composition and enhance the packaging quality.

Manufacturers' significant area of concentration lies in developing bio-plastic solutions, specifically bio polypropylene and polybutylene. These innovative alternatives to traditional plastics align with sustainability goals and tackle issues related to plastic waste and pollution. As governments and consumers emphasize reducing plastic waste, using bio-plastics in flexible plastic packaging is projected to experience substantial growth.

Moreover, manufacturers are actively addressing challenges associated with the disposal and pricing of bioplastics. Establishing efficient and sustainable recycling systems for bioplastics is crucial to ensure their proper management and utilization in the packaging industry. Additionally, manufacturers strive to achieve competitive pricing for bioplastics, making them a viable and cost-effective option for sustainable, flexible plastic packaging solutions.

Manufacturers must adapt their strategies and invest in research and development to capitalize on shifting market dynamics and meet regulatory requirements. By creating innovative packaging solutions that align with sustainability goals while upholding the highest quality standards, manufacturers can comply with regulations and position themselves as industry leaders, catering to the growing demand for environmentally friendly packaging solutions.

In conclusion, the introduction of new regulatory initiatives by governments worldwide has spurred plastic packaging manufacturers to explore new packaging solutions, driving the expansion of the packaging industry. The industry's growing emphasis on sustainable packaging solutions stems from the objectives of reducing costs and ensuring product integrity. With the increasing focus on recyclable and sustainable flexible plastic packaging solutions, manufacturers are expected to address strict regulations, environmental concerns, and evolving consumer preferences. Key areas of focus include the development of bio-plastics, such as bio polypropylene and polybutylene, as well as addressing challenges related to the disposal and pricing of bioplastics. These developments are anticipated to significantly increase bio-plastic usage in flexible plastic packaging and contribute to a more sustainable packaging industry.

Driving Business Growth with Flexible Packaging

The Value of Packaging on Brand Perception

Flexible packaging plays a crucial role in enhancing brand value and meeting consumer expectations. It aligns with the needs and preferences of tomorrow's consumers, proving to be a valuable asset for businesses.

Consumers Willing to Pay More for Functional Benefits

Recent surveys reveal that about 60% of consumers are prepared to spend more for packaging that offers practical benefits. Key attributes that consumers value include:

  • Ability to Reseal: Consumers are willing to pay up to 14% more for packaging that can be resealed.
  • Extended Product Life: Packaging that helps prolong the freshness of products.
  • Ease of Storage: Packaging that simplifies the storage process.
  • Ease of Opening: Packaging that is easy to open.

Demand for Convenience Among Consumers

A recent survey highlights that younger consumers, particularly those aged 18-34, place a high value on convenient packaging attributes. The most important features, which over 60% of consumers rate as "very important," "extremely important," or "absolutely essential," include:

  • Ease of Storage: Packaging that makes storing products more manageable.
  • Ability to Reseal: Packaging that allows for resealing to keep products fresh.
  • Ease of Opening: Packaging that is user-friendly and easy to open.

Latest Announcements by Industry Leaders

  • In October 2024, Kristy Paulin, executive vice president of global marketing for ProAmpac expressed, “We are excited to demonstrate ProAmpac’s commitment to driving flexible packaging innovation at ALL4PACK. From our recyclable films to our fibre-based food packaging solutions, we are focused on providing brands with sustainable options that meet both regulatory demands and consumer preferences.”

Competitive Landscape

The competitive landscape analysis of the flexible packaging market provides a comprehensive overview of the key players in the industry. It includes detailed information such as company profiles, financial performance, revenue generation, market potential, research and development investments, new market initiatives, global presence, production facilities, and capacities, as well as strengths and weaknesses of each company. Additionally, the analysis covers product launches, the breadth and depth of product offerings, and dominance in specific applications within the flexible packaging market. It is important to note that the data provided pertains specifically to the companies' activities and strategies within the context of the flexible packaging market.

Flexible Packaging Market Companies

Some of the key players operating in the flexible packaging market are Amcor plc (Switzerland), Mondi (U.K.), Sonoco Products Company (U.S.), Sealed Air (U.S.), Huhtamaki (Finland), Transcontinental Inc (Canada)., Cosmo Films Ltd (India), Polyplex (India), UFlex Limited (India), Jindal Poly Films (India), CLONDALKIN GROUP (Netherlands), Constantia Flexibles (Austria), TAGHLEEF INDUSTRIES GROUP (UAE), DUNMORE (U.S.), Celplast Metallized Product (Canada), Ultimet Films Ltd (U.S.), Accrued Plastic Ltd (U.K.), All Foils, Inc. (U.S.), SRF Limited (India).

Recent Developments

  • In October 2024, Pakka, announced the launch of a new range of flexible compostable packaging solutions. It is developed mainly for the food & beverage industry. 
  • In June 2024, Innventure LLC announced its collaboration with a European manufacturing company Chemipack.
  • April 2022, Amcor has recently unveiled an expansion in its pharmaceutical packaging offerings through the introduction of innovative and eco-friendly High Shield laminates. These new packaging options address the industry's need for high-performance barriers while aligning with the sustainability objectives of pharmaceutical companies. The High Shield technologies present viable solutions for environmentally conscious packaging of pharmaceutical sachets, stick packs, and strip packs, utilizing paper- and polyolefin-based materials. With its inventive material structure, this packaging supports pharmaceutical businesses in differentiating themselves in the market by enabling easy recyclability and meeting the expectations of specific regions regarding sustainability.
  • In August 2022, Amcor PLC has announced its acquisition of a flexible packaging facility in the Czech Republic. This strategic move positions Amcor to effectively meet the growing demand and customer expansion within its European flexible packaging network. By incorporating this acquisition, the company demonstrates its commitment to accelerating organic growth in the attractive segments of its flexible business throughout Europe. Furthermore, the acquired site's scalability and strategic location significantly enhance Amcor's capacity to meet robust customer demands and generate impressive returns. The plant, initially a greenfield development initiated by DG Pack in 2019, boasts cutting-edge specialized equipment tailored for high-value segments such as coffee and pet food. The land and buildings obtained through the acquisition also allow Amcor to substantially expand operations and establish a highly efficient production hub.

Market Segments

By Raw Material

  • Paper
  • Plastics
    • Polyethylene
    • Polypropylene
    • Polyethylene Terephthalate
    • Others
  • Bioplastic
  • Aluminum
  • Cellulosic
  • Metal

By Packaging Type

  • Bags and Trays
    • Gusseted Bags
    • Wicketed Bags
  • Pouches
    • Stand up Pouches
    • Flat Pouches
    • Spouted Pouches
  • Films
  • Bag-in-box
  • Blisters
  • Others

By Printing Technology

  • Flexography
  • Digital Printing
  • Others

By Application

  • Food & Beverages
  • Pharmaceutical
  • Cosmetics
  • Others

By Geography

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Malaysia
    • Philippines
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East & Africa (MEA)
    • GCC
    • North Africa
    • South Africa
    • Rest of the Middle East & Africa
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  • Insight Code: 5057
  • No. of Pages: 150
  • Format: PDF/PPT/Excel
  • Published: November 2024
  • Report Covered: [Revenue + Volume]
  • Historical Year: 2021-2022
  • Base Year: 2023
  • Estimated Years: 2024-2033

Meet the Team

Deepa Pandey is a market research expert in packaging with 3+ years of experience, specializing in regulatory compliance, design innovations, sustainable packaging, and delivering insights to enhance safety and efficiency.

Learn more about Deepa Pandey

Aditi Shivarkar, with 14+ years in packaging market research, specializes in food, beverage, and eco-friendly packaging. She ensures accurate, actionable insights, driving Towards Packaging 's excellence in industry trends and sustainability.

Learn more about Aditi Shivarkar

Related Insights

FAQ's

Asia Pacific region dominates the global flexible packaging market during the forecast period 2023 to 2032.

Amcor plc (Switzerland), Mondi (U.K.), Sonoco Products Company (U.S.), Sealed Air (U.S.), Huhtamaki (Finland), Transcontinental Inc (Canada)., Cosmo Films Ltd (India), Polyplex (India), UFlex Limited (India), Jindal Poly Films (India), CLONDALKIN GROUP (Netherlands), Constantia Flexibles (Austria), TAGHLEEF INDUSTRIES GROUP (UAE), DUNMORE (U.S.), Celplast Metallized Product (Canada), Ultimet Films Ltd (U.S.), Accrued Plastic Ltd (U.K.), All Foils, Inc. (U.S.), SRF Limited (India).

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