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’
Download Free Sample Report@ https://www.meticulousresearch.com/download-sample-report/cp_id=4220?utm_source=pdf&utm_medium=social&utm_campaign=product&utm_content=20-06-2024
According to the latest publication from Meticulous Research®, the global flexible packaging market is set to grow to $359.3 billion by 2031, with a compound annual growth rate (CAGR) of 4.9% from 2024 to 2031. This expansion is driven by the rapid growth of the food and beverage sector, increasing demand for lightweight and convenient packaging solutions, and the booming e-commerce industry. Additionally, a heightened focus on sustainable packaging materials and recyclability, coupled with a growing demand for personalized packaging solutions, presents significant growth opportunities. However, stringent regulatory compliance related to food safety and chemical migration, as well as limited barrier protection properties, pose challenges to market growth.
Market Drivers and Opportunities
Food and Beverage Expansion: The rapid growth of this sector fuels the demand for flexible packaging solutions.Convenience and Lightweight Demand: Increasing consumer preference for lightweight and easy-to-use packaging.E-commerce Boom: The rise of online shopping necessitates efficient and durable packaging solutions.Sustainable Packaging: Growing emphasis on eco-friendly materials and recyclability.
Emerging Opportunities
Non-Invasive Devices: The increasing demand for such devices in emerging markets.Smart Packaging Integration: Incorporation of intelligent features in packaging solutions.However, the market faces significant challenges including a shortage of skilled healthcare professionals, regulatory barriers, and product recalls.Market Segmentation and Insights
Material Segmentation
Polyethylene (PE): Expected to hold the largest share of over 44% in 2024 due to its versatility, cost-effectiveness, and high barrier properties.Polyester (PET): Anticipated to witness the highest growth rate from 2024 to 2031, driven by its use in beverages and personal care due to its lightweight nature and sustainability.
Type Segmentation
Non-Biodegradable: Expected to dominate with over 60% share in 2024, driven by its cost-effectiveness and widespread use in various industries.Biodegradable: Projected to grow at a higher rate due to rising consumer preference for eco-friendly options and stringent regulations promoting sustainability.
Packaging Type Segmentation
Pouches: Expected to lead with over 39% share in 2024, driven by demand for on-the-go consumption and cost efficiency.Films & Wraps: Expected to register the highest growth due to customization options and high barrier protection.
Geographic Insights
Asia-Pacific: Projected to hold the largest share of over 39% in 2024, driven by the expansion of retail, e-commerce, and the food & beverage industry. The region is expected to register the highest growth rate of over 6% during the forecast period.North America and Europe: Followed by Asia-Pacific in market share, driven by high adoption of advanced technologies and robust healthcare spending.
Key Market PlayersAmcor Group GmbH (Switzerland)Westrock Company (U.S.)Air Corporation (U.S.)Transcontinental Inc. (Canada)Smith (U.K.)Huhtamäki Oyj (Finland)Berry Global Inc. (U.S.)Mondi plc (U.K.)Sonoco Products Company (U.S.)Flexibles (Austria)ProAmpac Intermediate, Inc. (U.S.)Sigma Plastics Group (U.S.)Wipf AG (Switzerland)KM Packaging Services Ltd (England)Coveris Management GmbH (Austria)Winpak Ltd. (Canada)
These companies are at the forefront of innovation, pushing the boundaries of flexible packaging solutions to meet evolving consumer demands and regulatory standards.
Buy Now@ https://www.meticulousresearch.com/Checkout/40361721?utm_source=pdf&utm_medium=social&utm_campaign=product&utm_content=20-06-2024
About Meticulous Research®:
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.
The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.
Contact Us:
Meticulous Research®
Email- [email protected]
Contact Sales- +1-646-781-8004
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research