Meticulous Research®—a leading global market research company, published a research report titled, ‘Flexible Packaging Market Size, Share, Forecast, & Trends Analysis by Material (PE, PP, PVC, POF, Nylon, PET), Type (Biodegradable), Packaging (Pouches, Bags & Sachet, Films & Wraps), Industry (F&B, Cosmetics, E-commerce) - Global Forecast to 2031’
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A new report from Meticulous Research® projects that the global flexible packaging market will grow to $359.3 billion by 2031, with a compound annual growth rate (CAGR) of 4.9% from 2024 to 2031. The rapid growth of the food and beverage industry, a rising demand for convenient and lightweight packaging, and the boom in e-commerce are key factors contributing to this surge. Additionally, the focus on sustainable materials and recyclable packaging solutions offers substantial opportunities for expansion. However, challenges such as stringent regulations around food safety, chemical migration, and the limited protective barriers of flexible packaging may slow growth.
Key Market Drivers:
- Food & Beverage Industry Growth: Demand for flexible packaging rises alongside the booming food and beverage sector.
- Convenience and Portability: Consumers increasingly favor packaging that is easy to carry and use.
- E-commerce Growth: The surge in online shopping calls for durable, flexible packaging solutions.
- Sustainable Packaging Demand: Companies are focusing more on eco-friendly and recyclable materials.
Emerging Market Trends:
- Non-invasive Medical Devices: Increasing demand in emerging markets for flexible packaging in medical devices.
- Smart Packaging Technology: A growing trend toward integrating intelligent features into packaging.
Market Segmentation:
- Material Types: Polyethylene (PE) is projected to capture the largest market share at over 44% in 2024, while polyester (PET) will witness the highest growth due to its lightweight and sustainable properties.
- Packaging Type: Pouches will dominate the market in 2024 with a 39% share, while films and wraps are expected to register the highest growth due to their flexibility and high barrier protection.
Regional Insights:
- Asia-Pacific: Leading the global market with over 39% market share in 2024, driven by rapid urbanization, retail expansion, and the food and beverage industry.
- North America and Europe: Following closely with significant market shares due to advancements in packaging technologies and high healthcare expenditure.
Prominent players in the market include Amcor Group GmbH (Switzerland), Berry Global Inc. (U.S.), Mondi plc (U.K.), and Westrock Company (U.S.), leading innovation in packaging solutions and navigating stringent regulatory landscapes to meet growing consumer expectations.
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Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
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