The global flexible packaging market is expected to grow from USD 143.79 billion in 2020 to USD 151.92 billion in 2021, with a compound annual growth rate (CAGR) of 5.7%.
The reason is the growth of the e-commerce industry in emerging economies and the increase in demand in the food and beverage industry. It is estimated that by 2025, the market will reach $182.04 billion, with a compound annual growth rate of 4.6%.
Market Overview
The flexible plastic packaging market is sold by entities (organizations, exclusive traders and partners) that produce flexible plastic packaging. Flexible packaging is an economical and convenient way of packaging, preserving and distributing food, medicine, cosmetics and personal care products, consumer storage, and other consumables.
Flexible plastic packaging refers to various plastic materials used to pack different products such as snacks, beverages, and vegetables. Plastic materials used for flexible plastic packaging include polyethylene, polypropylene, polystyrene, and polyvinyl chloride.
The roll is composed of laminated film, in a long, continuous sheet with a strong center cardboard with a highly usable structure. The gusset bag has extra semi-elliptical dents on both sides of the bag to form a square or rectangular base, which increases the space of the bag and allows it to hold more items.
The Wicketed bag is a plastic bag stacked on the steel wire guide post and clamped together with rubber gaskets or cardboard. The package is a tightly fitting flexible plastic used to cover a variety of items. Technologies used for flexible plastic packaging include flexographic printing, gravure printing, digital printing, etc. Flexible plastic packaging is suitable for packaging various items, such as food, beverages, medicine and health care, personal care and cosmetics.
In the historical period, attention to environmental issues limited the development of the flexible packaging market. Non-recyclable plastic bags have become the world’s leading source of pollution. People are worried about plastic in garbage and marine garbage. Piles of plastic rubbish were found on some beaches around the world, clogging urban sewers, causing a large amount of plastic rubbish to flow in and causing the death of wild animals including marine animals. In response, many countries have established strict rules to control the use of plastic bags. For example, China has completely banned the use of plastic bags. These problems proved to be a challenge to the flexible plastic packaging industry.
Market Drivers
In the historical period, the increase in consumption of processed foods and packaged foods has driven the development of the flexible packaging market. Packaged foods refer to foods that have been frozen, canned, cooked, packaged, or have changed nutritional components, and preserved or fortified in different ways. Food brands are adopting flexible plastic packaging, which includes different types of packaging, which are easy to form. Therefore, the massive consumption of processed and packaged foods promoted the demand for flexible plastic packaging during this period.
Trends and Innovations
Introducing innovative packaging to attract more customers and expand the company’s customer base is a key trend in flexible plastic packaging. Companies operating in the flexible packaging market focus on creating innovative and sustainable packaging solutions for end users.
