Flexible Packaging Market to Soar in the Near Future Owing to Growing Consumer Adoption

The finest characteristics of plastics and films are combined in flexible packaging. These versatile packaging supplies functional solution that requires minimal production costs. From consumer goods to electronics and cosmetics to medical supplies, flexible packaging is an important component in the supply chain of many industries and products. Flexible packaging adds value and marketability of both food and non-food products by combining the finest qualities of plastic, film, paper, and aluminum foil to provide a wide range of protective properties with the least amount of material.

Increase in demand for snack and convenience foods in small or single size portions fuels the growth of the flexible packaging market. The packaging industry is moving toward flexible packaging, owing to its multi-fold energy and environmental advantages. Flexible packaging combines the qualities of plastic, paper, and aluminium foil without sacrificing the freshness, barrier protection, durability, printability, or simplicity of use of the product. With these advantages of flexible packaging, growth of the market will grow during the forecast period. However, recycling of plastic packaging waste is a complex process that requires state-of-the-art infrastructural facilities. It is a time-consuming process that needs personnel expertise. This may hamper the growth of the flexible packaging market.

The global flexible packaging market is segmented on the basis of material, packaging type, end-use industry, and region. On the basis of material, the market is segmented into paperboard, plastic, and aluminum foil. By packaging type, it is divided into stand-up pouch, films, bag-in-box, and others. On the basis of end-use industry, it is segmented into food & beverages, personal care, pharmaceutical, household care, industrial, & others. On the basis of region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific accounts for the largest share of the market, followed by North America and Europe.

Players operating in the global flexible paper packaging market include Mondi Group Plc, Smurfit Kappa Group plc, Sappi Limited, International Paper Company, Nippon Paper Industries Co., Ltd., WestRock Company, Georgia-Pacific LLC, KapStone Paper and Packaging Corp., Packaging Corporation of America, and BillerudKorsnäs AB among others.