Flexible Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

The global flexible packaging market reached a value of US$ 119.3 Billion in 2020. Packaging is often termed as an economical means of providing protection, convenience, containment and compliance to a product during its storage, transportation, display, and usage. Flexible packaging refers to a package made of flexible and easily yielding materials that can be easily molded into different shapes. Flexible packaging is one of the rapidly growing segments of the packaging industry, combining the highest qualities of film, paper, and aluminum foil to provide a wide range of protective characteristics. These flexible packages can acquire the shape of a pouch, liner, bag or overwrap and it can resonate with any type of packaging. Various applications of flexible packaging in the food industry include packaging of ready-to-eat food items, boil-in-bag pouches, and foods that are often transferred from freezer-to-microwave. Packaging used for freezer-to-microwave type food is resistant to high temperature extremes and is a good moisture-resistant sealant as well. The non-food product applications of flexible packaging include insulation, cosmetics, and healthcare. The market is growing rapidly with flexible packaging ensuring food safety, enhanced value of food products, extended shelf-life, heating and moisture barrier, effective permeability, and ease of use. Consumers are also preferring this packaging type because of its commitment to convenience, aesthetic appeal and durability.