Global Flexible Plastic Packaging Market Size/Share Worth USD 293.7 Billion by 2033 at a 5.1% CAGR

According to a market research study published by Custom Market Insights, the demand analysis of Global Flexible Plastic Packaging Market size & share revenue was valued at approximately USD 187.2 Billion in 2023 and is expected to reach USD 189.8 Billion in 2024 and is expected to reach around USD 293.7 Billion by 2033, at a CAGR of 5.1% between 2024 and 2033. The key market players listed in the report with their sales, revenues and strategies are Sigma Plastics Group, Amcor plc, FlexPak Services, Transcontinental Inc., Coveris, DS Smith, American Packaging Corporation, InterFlex Group, FLEX-PACK ENGINEERING INC., Innovia Films, Cosmo Films, Novolex, Mondi Group, Huhtamaki Flexible Packaging, Sonoco Products Company, Constantia Flexibles, Bemis Manufacturing Company, UKrMetal, ProAmpac, Berry Global Inc, and others.

Custom Market Insights has published a new research report titled “Flexible Plastic Packaging Market Size, Trends and Insights By Product Type (Pouches, Bags & Sacks, Tubes, Sleeve Labels, Films & Wraps), By Packaging Type (Vacuum Skin Packaging, Modified Atmospheric Packaging), By End User (Food & Beverages, Personal Care, Homecare, Pharmaceuticals, Others), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033” in its research database.

“According to the latest research study, the demand of global Flexible Plastic Packaging Market size & share was valued at approximately USD 187.2 Billion in 2023 and is expected to reach USD 189.8 Billion in 2024 and is expected to reach a value of around USD 293.7 Billion by 2033, at a compound annual growth rate (CAGR) of about 5.1% during the forecast period 2024 to 2033.”

Flexible Plastic Packaging Market: Overview

Flexible plastic packaging offers benefits such as thinness, affordability, longevity, and capacity to extend product shelf life via sealing characteristics that protect against oxygen, moisture, as well as other environmental factors.

Sustainability and recyclability are becoming more and more important in flexible plastic packaging, according to worldwide trends. Environmentally friendly alternatives are being sought by both manufacturers and consumers due to rising concerns about the environment and regulatory efforts to eliminate plastic waste.

Developments in materials and package designs have been spurred by this trend, to make flexible plastic packaging more compostable and recyclable. Packaging solutions comprised of recycled materials or bio-based polymers generated from renewable sources are also in greater demand.

In addition, businesses are investigating methods like downgauging, lightweight, and package design optimization to cut down on material use and lessen environmental effects along the course of packing. All things considered, the move in the direction of flexible plastic packaging that is more recyclable and sustainable represents a worldwide commitment to combating plastic pollution and developing a circular economy for packaging materials.

By product type, the pouches segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033. Pouch trends include a move toward eco-friendly materials, practical and inventive designs, growing usage in single-serve wrapping, and expansion in the personal care, medicinal products and food and beverage industries.

By packaging type, the vacuum skin packaging segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033. The growing use of environmentally friendly materials and procedures in vacuum skin packaging is a trend that is being pushed by customer demand for eco-friendly packaging options.

By end user, the food & beverages segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033. The deployment of flexible plastic packaging is fueled by rising customer requests for food and beverage simplicity, ecologically, and product distinctiveness; this is pushing trends toward packaging solutions that are reusable, portable, and resealable.

Key drivers propelling the expansion of flexible plastic packaging in the Asia-Pacific region include increased rates of urbanization, an aging middle class, and a growing need for compact packaging options.

Constantia Flexibles, a Vienna-based company, creates flexible packaging for the food and beverage and pharmaceutical sectors. Constantia Flexibles is a multinational corporation that operates in fifteen nations, primarily in Europe, ranging from Mexico to Vietnam.