Flexible packaging combines the advantageous qualities of plastics and films, offering a versatile solution with cost-effective production. It plays a vital role in supply chains across various industries, including consumer goods, electronics, cosmetics, and medical supplies. Via integrating the finest attributes of paper, film, plastic, and aluminum foil, flexible packaging enhances the value and marketability of both food and non-food products. It provides a wide range of protective capabilities while minimizing material usage, making it a preferred choice in modern packaging solutions.
According to Data Bridge Market Research, the Flexible Packaging Materials Market accounted for USD 176.92 million in 2022, will reach USD 254.97 million by 2030, growing at a CAGR of 4.674% during the forecast period of 2023 to 2030.
“Growing consumption of ready-to-eat food”
The packaging industry is benefiting from the increased consumption of packaged and ready-to-eat food, driven by changing habits among millennials. The food processing sector is introducing new types of packaged food products with longer shelf-life, influencing consumer purchasing patterns and expanding the market. Manufacturers are also focusing on developing tear-resistant, food-safe, and environmentally friendly packaging materials that extend shelf life and eliminate the need for additional labelling and packaging requirements.
What restraints the growth of the flexible packaging materials market?
“High use of capitalization can limit the market growth”
Integrated packaging machinery production and import activities require significant capital investments, particularly for operations like wrapping, automated labeling, and palletizing materials. These higher capital costs pose a hindrance to the development of the packaging machinery sector. Furthermore, customs duties imposed in developing nations negatively impact the overall expansion of the industry, adding further challenges to its growth.
Segmentation: Flexible Packaging Materials Market
The flexible packaging materials market is segmented on the basis of material type, technology, packaging type, and application and end user.
- On the basis of material type, the flexible packaging materials market is segmented into plastic, paper, recycled cellulose fiber, aluminum foil, paper boards, pet films, bioplastics, inorganic coated pet film, condiments, polyethylene, bopet, polyamide, polystyrene, others.
- On the basis of technology, the flexible packaging materials market is segmented into flexography, rotogravure, digital, other.
- On the basis of packaging type, the flexible packaging materials market is segmented into bags and pouches, films, bag-in-box, bags and trays, squeezable bottles, roll stock, stick packs, wraps, bliste, tubes, liquid packaging.
- On the basis of application, the flexible packaging materials market is segmented into consumer packaging, industrial packaging.
- On the basis of end user, the flexible packaging materials market is segmented into food and beverages, pharmaceuticals, household and personal care, tobacco products, industrial and chemical products, oil and lubricants.
Regional Insights Asia-Pacific dominates the Flexible Packaging Materials Market
Asia-Pacific maintains its dominant position in the market and is expected to continue flourishing due to factors such as population growth, increased income levels, urbanization, lifestyle changes, growing internet usage, and rapid economic development. These trends have led to an increased demand for packaging in the region.
To know more about the study visit, https://www.databridgemarketresearch.com/jp/reports/global-flexible-packaging-materials-market
Recent Developments in Flexible Packaging Materials Market
- In 2022, Amcor PLC announced the acquisition of a flexible packaging facility in the Czech Republic This strategic move allows Amcor to meet the increasing demand and customer growth in Europe more effectively, thanks to the facility's favorable location. The acquisition aligns with Amcor's objective to accelerate the organic growth of its flexible business in lucrative segments across Europe.
- In 2022, the United States implemented legislation to tackle plastic pollution through expanded producer responsibility laws. California, in particular, enacted SB 54, which sets recycling targets for plastic packaging. By January 2028, California aims to recycle 30% of plastic packaging, followed by 40% by January 2030 and at least 65% by January 2032. The legislation also mandates a 25% reduction in single-use plastic waste compared to 2023 levels by 2032.
The Prominent Key Players Operating in the Flexible Packaging Materials Market Include:
- Amcor plc (Australia)
- Dow (U.S.)
- Bemis Manufacturing Company(U.S.)
- Westrock Company. (U.S.)
- Sealed Air (U.S.)
- DS Smith (U.K)
- Huhtamaki(Finland)
- Berry Global Inc.(U.S.)
- Genpak, LLC (U.S.)
- Union Packaging And Technology Company Limited (U.S.)
- Robert Bosch GmbH (Germany)
- Tetra Pak Group (Switzerland)
- Coesia S.p.A. (Italy)
- Marchesini Group S.p.A. (Italy)
- OPTIMA packaging group GmbH (Germany)
- Videojet Technologies, Inc. (U.S.)
- Signode Industrial Group LLC . (U.S.)
- ISHIDA CO.,LTD (Japan)
- GEA Group Aktiengesellschaft (Germany)
Above are the key players covered in the report, to know about more and exhaustive list of flexible packaging materials market companies contact, https://www.databridgemarketresearch.com/jp/contact
Research Methodology: Global Flexible Packaging Materials Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
