Flexible Packaging Market is Beyond Just Wrapping and Conserving

Posted in Manufacturing by Adolf on Mar 6,2023 359

Flexible packaging is a package made of non-rigid or easily yielding material which when filled or closed, can be readily changed in shape. It is produced from paper, plastic, film, aluminium foil, or any combination of these materials, and includes bags, wraps, pouches, sachets, blisters, roll stock, and other flexible products. Flexible packages are peculiarly useful in firms that require versatile packaging, such as the food, beverages, personal care, pharmaceutical and other industries. Thanks to its cost-efficient nature, versatility, and endowment to sustainability efforts, flexible packaging is flattering progressively popular.

Flexible packaging is more sustainable since it requires lesser resources, energy, and water during production and takes up less room in landfills after disposal. The demand for flexible packaging is also anticipated to increase during the projected period as more application sectors choose sustainable packaging solutions due to regulatory restrictions.

Due to growing urban populations, rising demand for FMCGs, pharmaceutical supplies, and other consumer durables, as well as increasing health and hygienic packaging concerns, there is an increased need for packaging.

Furthermore, the market penetration of ready-to-eat meals is anticipated to support the expansion of flexible packaging during the projected period due to a busy lifestyle and a large percentage of working-class professionals. Flexible packaging is frequently used for food goods, such as smoothies, snacks, dairy, and others. The demand for products is anticipated to increase over the projected period due to improvements in food processing methods and shifting customer lifestyles. The packaged food industry has been expanding globally.

The flexible packaging market is approximated to be US$ 248.9 billion in 2022, and it is projected to reach US$ 315.5 billion by 2027 at a CAGR of 4.8%. Out of 5 packaging types (pouches, bags, roll stocks, films & wraps, and others), pouches are the major packaging type of flexible packaging. Pouches have the largest market share because of its excellent properties, such as low weight, resale ability, vacuum sealing, low package-to-product ratio, and others.

The demand for pouches is higher in the food and beverages industry, where these are used for packing several food items in the food and beverage industry; some of them are milk, tea, coffee, ketchup, snacks, namkeen, ketchup, chocolate, candies and other food items. In addition to this, pouches are ideal for soaps, detergents and bulk coffee packaging and food items such as dried or smoked meats. They are easy to use, heat sealable, and available in convenient packaging with multiple sizes and formats. It is expanding at a higher rate than its counterpart, rigid plastic packaging, serving a variety of functions from increasing shelf life and maintaining food safety to offering barrier protection from heat and pathogens and other external entities.

Flexible packaging offers the beauty industry packaging that resonates with educated and eco-conscious consumers. In addition to this, being airtight, it has a strong protective barrier material that aids in preserving the freshness of powder, gels, and oils sold by personal care and cosmetic firms. Flexible Packaging products are used for packaging different products such as soaps, cosmetics & perfumes, and facial tissues & napkins.

Flexography is widely used in flexible packaging printing. The flexography printing process involves image preparation, plate making, printing, and finishing. The main difference between flexography and other printing processes is that it uses plates made of flexible materials, such as plastic, rubber, and UV-sensitive polymer. The inks used in flexography are of low viscosity, which enables the print to dry quickly and speed up the printing process, eventually saving production costs.

The fastest-growing flexible packaging market is in the Asia Pacific region. The various countries which are covered in this region are India, China, Japan, Australia, South Korea, and the Rest of Asia Pacific. Countries such as India, China, and Japan are expected to rise in the flexible packaging market due to growing developmental activities and rapid economic expansion. In addition to this, rising urbanization in these countries results in representing a huge customer base for food, beverages, and FMCG products which led to the growth of the flexible packaging market in the forecast period.

Companies Covered: Huhtamaki Oyj (Finland), Berry Global Group Inc. (US), Amcor Limited. (Australia), Mondi Group.(UK), Sonoco Products Company (US), Westrock Company (US), Constantia Flexibles (Austria), Sealed Air Corporation (US), Transcontinental Inc (Canada), DS Smith (UK)

Thanks to the increased consumer focus on convenience and sustainability flexible packaging is seeing peculiarity growth across all formats and producing innovative and creative solutions for various industries and other consumer packaged goods.

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