Flexible Packaging Market size to grow at 6.2?GR from 2021 to 2030 and to reach $325.6 Billion by 2030, According to Allied Market Research. The report provides in-depth analysis of the global market along with the current trends and future estimations. This report highlights the key drivers, opportunities, and restraints of the market along with the impact analysis during the forecast period.
Flexible Packaging Market growth is driven by rising demand from various end-use industries and increasee in e-commerce sales. On the other hand, stringent regulations concerning packaging restrain the growth to some extent. However, sustainable and new flexible plastics packaging solutions are expected to create lucrative opportunities in the industry.
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On the basis of end use industry, the global flexible packaging market is segmented into food & beverage, personal care, pharmaceutical, household care, industrial, and others. The food & beverage segment accounted for the largest flexible packaging market share in 2020, while the pharmaceutical segment is projected to be the fastest growing segment at a CAGR of 9.0%.
Based on material, the plastic segment contributed to more than one-third of the global flexible packaging market share in 2020, and is anticipated to rule the roost by 2030, due to its low cost and various features leading to overall increase in the product shelf life. The paperboard segment, on the other hand, would register the fastest CAGR of 6.8% throughout the forecast period.
Based on packaging type, the films segment accounted for more than two-thirds of the global flexible packaging market revenue in 2020, and is expected to lead the trail by 2030, owing to increasing demand from the food & beverage industry. The stand-up pouch segment, however, would register the fastest CAGR of 9.4% during the forecast period.
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The global flexible packaging market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific dominated in 2020, accounting for nearly two-fifths of the market. However, North America is estimated to portray the highest CAGR of 8.2% during the forecast period.
Key players in the industry-
- Amcor Plc,
- FlexPak Services LLC
- Berry Global Inc.
- Constantia Flexibles
- Mondi Group
- Transcontinental Inc.
- Coveris Holding SA
- Sealed Air Corporation
- Flexible packaging is primarily used in food & beverages, cosmetics, industrial, and personal care. Although the end-use industries were primarily affected during the initial phase of the pandemic and so was the flexible packaging market, the market is anticipated to recoup soon.
- The companies are taking recourse to various techniques to escalate production volume and are attempting to develop innovative solutions at a cost-effective price that can cater to customer requirements at a lower cost and support the overall breakthrough.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.