Flexible packaging is one of the growing trends in the packaging industry. Flexible plastic packaging involves various types of plastic material used for packaging of different products. The type of material to be used in packaging depends upon the application and type of product to be packaged. Generally, plastic material such as Polyethylene, Polypropylene, polystyrene, and polyvinyl chloride are used in flexible plastic packaging. Flexible packaging is considered to be the most convenient and economical way to preserve, distribute and package food items, beverages, pharmaceutical products and several consumables. The growth of this market is attributed to the increase in the demand for light weight and costeffective packaging solutions globally due to the surge in demand for foodstuffs and pharmaceutical goods during the COVID-19 pandemic. The growth in the end-use industries (such as food, beverage, cosmetics, and pharma & healthcare) has generated new opportunities for the flexible plastic packaging market. However, factors such as volatility in the raw material prices and recyclability of plastic may inhibit the growth of the market.
MarketsandMarkets expects the global flexible plastic packaging market size to grow from USD 160.8 billion in 2020 to USD 200.5 billion by 2025, at a CAGR of 4.5% from 2020 to 2025. The market for flexible plastic packaging is segmented, on the basis of type, into pouches, wraps, rollstock, bags, and others (include labels, sachets, and stick packs). Pouches segment is projected to dominate the market for flexible plastic packaging by 2025. The flexible plastic packaging market has witnessed a significant increase in the demand for pouches for the supply of medecines, vegitable, meat, and goods to the respective stores, retailers, pharmacies, and hospitals, during the COVID-19 pandemic. Furthermore, the increasing opportunities in e-commerce and offline retail sectors have resulted in accelerating demand for pouches in the flexible plastic packaging applications.
Amcor Limited (Australia), Mondi Group (UK), Sonoco Products Company (US), Sealed Air Corporation (US), Huhtamaki OYJ (Finland), Sappi Global (South Africa), DS Smith (UK), Coveris Holding SA (UK), Sabert (US), Wihuri (Finland), amongst others, are the key players operating in the flexible paper packaging market. Merger & acquisitions, investments & expansions, partnerships & collaborations, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the flexible paper packaging market.
