Flexible Packaging Market to Reach $131-plus Billion by 2022

According to the report Flexible Plastic Packaging Market by Type (Standup Pouches, Flat Pouches, Gusseted Bags, Wicketed Bags, Wraps, Rollstock), Material (Plastic Films, Paper, Aluminum Foil, Bioplastics), Printing Technology, Application, and Region - Global Forecast to 2022, published by MarketsandMarkets, Pune, India, the market is projected to grow from $102.19 billion in 2017 to 131.65 billion by 2022, at a CAGR of 5.2%.

 

Browse 157 market data tables and 46 figures spread through 220 pages and TOC on Flexible Plastic Packaging Market.

The global flexible plastic packaging market is witnessing a growth in demand, due to the rise in manufacturing activities and growth in the demand for conveniently packaged products. The growth in demand from the food and beverage industry also provides an opportunity for market growth, especially in the emerging Asia-Pacific and South American regions.

 

The standup pouches segment is estimated to account for the largest share in 2022, mainly because of the growing consumption of food and beverage, dairy, and cosmetics products. Standup pouches are appealing as well as functional as they offer various features such as zipper re-seal, slider closure, and release valves. The growing healthcare industry also provides an opportunity to the market to grow further due to the rising consumption of over-the-counter products for which standup pouches are used, especially in the emerging markets of Asia-Pacific and South America.

 

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The plastic films segment of material is projected to grow at the highest rate during the forecast period. Raw materials such as plastic films, aluminum foil, paper, and bioplastic are used for flexible packaging. Plastic films are further categorized into polyethylene, polypropylene, PVC, BOPET, EVOH, polyamide, and polystyrene. They offer excellent visibility to the product and provide secure and attractive packaging options. It is primarily used in the packaging of food & beverage products as it protects them from oxidation and also provides extended shelf life to the product.

 

Asia-Pacific is projected to have the largest share in the flexible plastic packaging market in 2022. On the basis of key regions, the Flexible Plastic Packaging Market is segmented into North America, Europe, Asia-Pacific, South America, and Middle East & Africa.

 

The Asia-Pacific region accounted for the largest share among all of the regions in 2016 and is projected to grow at the highest rate from 2017 to 2022, in terms of value. This is mainly due to the increasing demand for flexible packaging in China and India, coupled with the growing food and beverage industry in these countries. Due to increasing disposable incomes, the urbanized population is shifting towards healthy and safe packaged foods. Therefore, rising income and consumption level would also lead to the growth of the flexible packaging market in this region.

 

Major players include Amcor Ltd. (Australia), Bemis Co. (U.S.), Constantia Flexibles (Austria), Sealed Air Corp. (U.S.), Huhtamäki Oyj (Finland), Coveris Holdings (U.S.), Sonoco Products Co. (U.S.), Berry Plastics Inc. (U.S.), Mondi Group (Austria), Reynolds Group (New Zealand), and Reynolds Group Holdings (the Netherlands).