According to a new market research report, the “Flexible Plastic Packaging Market by Type (Pouches, Rollstocks, Bags, Wraps), Material (Plastic & Aluminum Foil), Application (Food, Beverage, Pharma & Healthcare, Personal care & Cosmetics), Technology, and Region – Global Forecast To 2025″, The global flexible plastic packaging market size is projected 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 is projected to grow in accordance with the increase in the demand for flexible plastic packaging for food, beverage, and cosmetics products across the globe. Furthermore, the flexible plastic packaging market has witnessed a significant increase in its demand for the supply of grocery, drugs, and vegetables & meat through online channels, during the ongoing COVID-19 pandemic.
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138 Market data Tables
228 Pages and in-depth TOC on “Flexible Plastic Packaging Market – Global Forecast to 2025″
This report also provides a comprehensive analysis of the companies listed below:
Constantia Flexibles (Austria), Amcor (Australia), Berry Global Inc. (US), Mondi (Austria), Sonoco (US), and Sealed Air Corporation (US)
COVID-19 impact on global flexible plastic packaging market
The global flexible plastic packaging market is expected to witness a moderate decrease in its growth rate in 2020-2021, as the packaging industry witness a significant decline in its production. However, there seems an increase in the demand for flexible plastic packaging for food, beverage, and pharmaceutical
In terms of value & volume, the pouches segment is estimated to lead the flexible plastic packaging market in 2019.
The pouches segment, by type, accounted for the largest market share in the flexible plastic packaging market. The increase in the demand for pouches can be attributed to the rise in the demand for processed food packed in pouches, lightweight, and convenient packaging solutions across end-use industries. Manufacturers of food and beverage products prefer stand-up pouches to differentiate their brands and gain a competitive advantage in the market. Pouches have the flexibility of being tailored to offer unique designs, styles, and sizes. The increasing opportunities in the e-commerce and offline retail sectors have resulted in the accelerated demand for flexible plastic pouches for their packaging applications.
The APAC region is projected to account for the largest share in the flexible plastic packaging market during the forecast period.
The APAC region is projected to lead the flexible plastic packaging market, in terms of both value and volume from 2020 to 2025. Higher domestic demand, along with the availability of low-cost labor, makes this region the most attractive market for flexible plastic packaging producers. Hence, the market players are focusing on this region to gain a larger share and increase their profitability. Factors such as improving the global economy, expanding the working population, and rising domestic demand for food and pharmaceutical products are expected to boost the market for flexible plastic packaging.
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