Global flexible-packaging market to exceed US$315 billion by 2027, up 4.8% CAGR
The worldwide market for flexible packaging was approximately US$248.9 billion in 2022, and it is projected to reach US$315.5 billion by 2027 at a CAGR of 4.8%, according to a new study from Research and Markets.
Flexible-packaging products are made up of various raw materials such as paper, plastic, and metal. Plastic flexible packaging, such as pouches, and films, are used for packing various ranges of products such as soaps, detergents, snacks, ketchup, chocolate, candies, and other food items. The flexible plastic-packaging market is expanding at a higher rate than its counterpart, rigid plastic packaging, serving a variety of functions from increasing shelf life and maintaining food safety to offering barrier protection from heat and pathogens and other external entities.
Flexible packaging offers the beauty industry packaging that resonates with educated and eco-conscious consumers. In addition to this, being airtight, it has a strong protective barrier material that aids in preserving the freshness of powder, gels, and oils sold by personal care and cosmetic firms. Flexible Packaging products are used for packaging different products such as soaps, cosmetics & perfumes, and facial tissues & napkins.
Flexography is widely used in flexible packaging printing. The flexography printing process involves image preparation, plate making, printing, and finishing. The main difference between flexography and other printing processes is that it uses plates made of flexible materials, such as plastic, rubber, and UV-sensitive polymer. The inks used in flexography are of low viscosity, which enables the print to dry quickly and speed up the printing process, eventually saving production costs.
The fastest-growing flexible packaging market is occur in the Asia Pacific region. The various countries which are covered in this region are India, China, Japan, Australia, South Korea, and the Rest of Asia Pacific. Countries such as India, China, and Japan are expected to rise in the flexible packaging market due to growing developmental activities and rapid economic expansion. In addition to this, rising urbanization in these countries results in representing a huge customer base for food, beverages, and FMCG products which led to the growth of the flexible packaging market in the forecast period.
Companies mentioned in the report include Ahlstrom, Aluflexpack Ag, Amcor Limited, Berry Global Group, Inc., Bischof + Klein Se & Co. Kg, C-P Flexible Packaging, Constantia Flexibles, Cosmo Films Limited, Ds Smith, Guala Pack S.P.A., Huhtamaki Oyj, Linear Plastics and Packaging., Mondi Group, Novolex-Carlyle Group, Novus Holdings Ltd., Ppc Flexible Packaging LLC., Printpack, Inc., Proampac, Sealed Air Corporation, Silafrica, Sonoco, Transcontinental Inc., Uflex Limited, Westrock Company, and Wihuri Group.
More info: Flexible Packaging Market - Global Forecast to 2027