DUBLIN--(BUSINESS WIRE)--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" report has been added to ResearchAndMarkets.com's offering.
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 Compound Annual Growth Rate (CAGR) of 4.5%.
The global flexible plastic packaging industry has witnessed high growth primarily because of the increasing demand for food, beverage, and pharmaceutical products worldwide, especially during the COVID-19 pandemic. Demand for sustainable, and durable protective packaging for pharmaceutical industry is another key factor contributing towards the increasing growth of the flexible plastic packaging market over the next few years.
In terms of both value and volume, pouches segment to lead the flexible plastic packaging market by 2025.
The pouches segment is expected to lead the global flexible plastic packaging market by 2025. It is further projected to grow at the highest CAGR from 2020 to 2025. The increase in the demand for pouches can be attributed to the rise in the demand for lightweight and convenient packaging solutions across end-use industries. The growth of the pouches segment will be supported by the increase in demand from the manufacturers in the food, beverage, and pharmaceutical industries, coupled with growing e-commerce sector during the forecast period.
In terms of both value and volume, cosmetic & personal care is projected to be the fastest-growing segment from 2020 to 2025, for flexible plastic packaging.
Cosmetics & personal care segment is projected to be the fastest-growing segment in the flexible plastic packaging market. The demand for flexible plastic packaging in the cosmetics & personal care industry, is expected to remain robust as many companies have shifted from rigid to flexible plastic packaging over the last few years as it is cost-effective and requires minimal raw materials compared to rigid packaging. The growing popularity of male grooming products, which use this type of packaging, also drives this market, globally. Stringent regulations and environmental concerns are compelling packaging manufacturers to use eco-friendly options for packaging. Hence, high demand is expected for flexible plastic packaging in the cosmetics & personal care segment during the projected period.
In terms of both value and volume, the Asia Pacific flexible plastic packaging market is projected to grow at the highest CAGR during the forecast period.
In terms of value and volume, the Asia Pacific region is projected to grow at the highest CAGR from 2020 to 2025 due to the strong demand for the flexible plastic packaging products from countries such as China, India, and Japan. Rising demand for processed food, particularly in China and India, is expected to fuel the growth of the flexible plastic packaging market in the region. An increase in the usage of flexible packaging for snacks, grains, and fresh produce, has resulted in high demand for flexible plastic packaging in the food segment.
- Cost-Effectiveness and Increased Product Shelf-Life
- Downsizing Packaging Material Usage
- Rising Demand from End-Use Industries and Increasing E-Commerce Sales
- Stringent Regulations
- Poor Infrastructure Facilities for Recycling
- Sustainable and New Flexible Plastics Packaging Solutions
- Better Substitute for Traditional Packaging Materials
- Recyclability of Plastics
- Aluflexpack Ag
- American Packaging Corporation
- Berry Global Inc.
- Bischof + Klein Se & Co. Kg
- Clondalkin Group
- Constantia Flexibles
- Cosmo Films Limited
- C-P Flexible Packaging
- Glenroy, Inc.
- Novolex - Carlyle Group
- OM Printing & Flexible Packaging Pvt. Ltd.
- PPC Flexible Packaging LLC
- Printpack, Inc.
- Sealed Air Corporation
- Sigma Plastics Group
- Swiss Pac
- Transcontinental Inc.
- Uflex Limited
- Ultimate Packaging
- Wihuri Oyj
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