Flexible packaging has emerged as the most preferred format due to the convenience and ease of use that it provides for products across several industries ranging from food and beverage to personal care and home care. The growing awareness regarding the adverse environmental impacts of rigid plastics has fueled the demand for flexible packaging solutions across the globe. Flexible packaging provides lightweight and reduced carbon footprint as compared to alternatives such as plastics and glass jars. Flexible packaging has better sealing properties which helps extend the shelf life of products packed inside and reduces wastage. It also allows for custom designs and packages in various shapes, sizes, thickness as per the requirements of products.

The Global Flexible Packaging Market is estimated to be valued at US$ 298.11 Bn in 2024 and is expected to exhibit a CAGR of 8.2% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the Flexible Packaging are Apple,Oculus VR, Sony, Samsung Electronics, X-Celeprint, Nanosys, Jade bird display, aledia, mikro mesa, verlase technologies, and, allos semiconductors. Key players are focusing on expanding their product portfolios and investment in R&D of lightweight and sustainable flexible packaging solutions.

The Flexible Packaging Market Size is witnessing strong growth on account of increasing urbanization, changing lifestyle, and growing middle-class population worldwide. Flexible packaging is highly preferred for packaging of food & beverages, pharmaceuticals, and personal care products. The increased demand for these end-use products is expected to propel the flexible packaging market over the forecast period.

The flexible packaging market has huge growth potential in emerging economies of Asia Pacific and Middle East & Africa. Leading players are investing heavily in these regions to tap the market opportunities. Acquisitions and partnerships with local players help global brands expand their geographical footprint and strengthen their position in these high growth regional markets.