The flexible packaging industry size to reach around USD 212 billion by 2026, growing at a CAGR of over 4% during the forecast period.
According to the latest Arizton's market research report, the flexible packaging industry size to reach around USD 212 billion by 2026, growing at a CAGR of over 4% during the forecast period.
Global Flexible Packaging Industry – Growth Analysis
The pharmaceutical industry is one of the major end-users of flexible packaging products. The need to comply with FDA norms is driving growth in the pharmaceutical packaging market. Pouches are increasingly used in the baby food market. The pouch market in the baby food industry is expected to reach around USD 115 million at a growth rate of over 7% by 2025. Urban areas observe the highest consumption of packaged food items, especially in the APAC region. Sustainable flexible packaging solutions are increasingly growing in the flexible packaging industry. In 2021, manufacturers and retailers are expected to continue to grow by strengthening the e-commerce market across the globe. For instance, retailers such as Future Group, Metro, and Lots of Wholesale witnesses a spike in demand for packaged food products, resulting in an increase in average purchase value per customer.
What’s Trending in the Market?
- Berry Global has bagged a multi-year contract for protective packaging solutions and to expand its existing facilities with an investment of around USD 20 million.
- Convenience, e-commerce, and sustainability are major trends driving innovations in the flexible packaging industry.
- 60%–65% of revenue comes from high-quality pouches with enhanced features.
- Flexible packaging extends the shelf life of food items, especially during distribution and marketing, as it provides additional leeway to reach new geographies with a longer display time.
- Market Size & Forecast by Revenue | 2020−2026
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Segmentation – A detailed analysis by materials, application, consumer flexible packaging end-users, product type, printing type, and geography
- Competitive Landscape –14 Key Company Profiles and 44 Other Prominent Vendors
Is APAC Dominating the Global Flexible Packaging Industry?
APAC region is expected to lead in the global flexible packaging industry by 2026. Players are focusing on this region to gain a larger market share and increase their profitability. Improvement of the global economy and expansion of working population for food and pharmaceutical products to boost the market for flexible packaging. The rising consumption of seafood products is fueling the market for the flexible packaging industry, especially in Japan. China and Japan are expected to account for the highest growth in APAC across various end-user markets such as pet food and seafood. APAC to witness demand for both low-cost sachets and premium luxury packaging.
Strategies Adopted by the Players in Global Flexible Packaging Industry
The flexible packaging industry is dominated by both small and medium enterprises. As the competition in the market is based on features and price, small businesses are focusing more on the customization of the products. Stretch films, protective wraps, and pouches have witnessed large demand in the past few years. The flexible packaging industry is witnessing many mergers and acquisitions to expand in the market. Large companies expected to witness more than USD 800 million in revenue and account for around 50% of the market share. By 2025, many vendors are expected to shift completely to green packaging materials. The penetration levels of bio-based plastics in various end-use categories are expected to increase during the upcoming years.
Amcor intends to use only recyclable and reusable materials in its packaging by 2025. The company to invest around USD 400 million in capital expenditure for organic growth. The estimated combined sales of around USD 13 billion will make Amcor the leading players across many end-user segments by utilizing the synergies. In the last six years, the company has acquired 26 companies and is expected to pursue its acquisition strategy during the forecast period. Amcor is a major supplier to Unilever and has recently opened a new plant to supply to Unilever.
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