The Worldwide Flexible Packaging Industry is Expected to Reach $288.99 Billion by 2028: Increase in Pouch Packaging Across End-Users Drives Growth (2023)

DUBLIN, Feb. 8, 2023 /PRNewswire/ -- The "Flexible Packaging Market - Global Outlook & Forecast 2023-2028" report has been added to's offering.

The global flexible packaging market is expected to grow at a CAGR of 5.12% during 2023-2028. In the aftermath of COVID-19, the flexible packaging market witnessed a supply chain disruption because of a voluntary shutdown of factories or authorities enforcing lockdown.

In some cases, though, the workforce at the supplier location had been reduced to ensure a certain amount of work was carried out to deliver smaller batches of materials required at the converter's place.

The high prices of premium categories of F&B products are expected to be majorly impacted, while the reasonably priced essential F&B products are expected to see higher demand. In Italy, the post-COVID-19 situation prompted the packaging vendors to reassess and revisit their inventories. The packaging vendors have re-strategized their supply chain by reducing dependence on cross-border suppliers as there exists a fear of trade route blockade.

As some end-use applications have flourished, the demand for flexible packaging has been affected due to less consumption. Medicines, dairy products, food, sanitizers, face masks, disinfectants, and others have been in high demand. These products also require packaging, particularly flexible packaging, thereby increasing demand for flexible packs in the flexible packaging market.

Market Trends and Opportunities

Increased Adoption Of Flexible Packaging Over Rigid Packaging

Major influencing factors in the global flexible packaging market include the cost of raw materials, lesser cost of production, and lightweight nature.

Further, the demand from buyers and end customers is compelling the shift to flexible packaging. The advent of smaller packs and single-serve packaging has resulted in more packages of lesser volume in 2020 and during COVID-19.

The flexible packaging market also offers easy-to-use caps and closure functionalities that were previously one of the reasons for slower adoption rates. Flexible pouches have become the most sought-after product as they can package products belonging to food, pharma, beverages, FMCG, and others.

Also, other flexible packaging products, such as aluminum foil and paper, have expanded their scope with many variations. Also, the newer retort packages with increased protection features from the external environment, combined with functionalities such as zips and spouts, are increasing the adoption of pouch packaging and, in turn, flexible packaging over rigid packaging. Hence, a greater number of products that were earlier packaged in rigid materials are flexible adoption packaging.

Usage of High-Barrier Plastic Packaging Materials

The barrier properties of films used in plastic packaging are important as it ensures that the food is not spoilt and shelf life is increased. The advent of thinner packaging materials leads to a requirement for high-barrier properties. These barrier properties include the permeability of gases, water vapor, aroma compounds, and light.

The polymers used in these plastic films are the essential differentiating factor for the efficacy of such barrier films in maintaining the quality of packaged or processed foods. The flexible plastic packaging market widely uses high-barrier films for premium food protection. The lightweight nature and flexibility of flexible packaging using these high-barrier films replace traditional packaging materials such as metal, rigid plastic, and glass.

With the growing demand for high-barrier packaging, especially in the vacuum packaging market due to its cost-effectiveness and efficiency, recyclable high-barrier plastics such as stand-up pouches are preferred. Moreover, rising awareness of eco-friendly and convenient packaging in the food industry is also expected to increase the demand for high-barrier vacuum packaging in the flexible packaging market.


Recycling Challenges With Flexible Packaging Products

Recycling flexible pouches and other products are cumbersome and not economically viable, as separating those materials involves many processes. Unlike rigid plastic products, recycled flexible packaging cannot be used for packaging food and pharmaceuticals as per FDA regulations. The recycled material can only be used for other applications. The recycling process involves the collection of waste, sorting, and recycling. In these processes, the materials undergo washing, shredding, and categorization of plastic and extruding. Low-quality materials are disposed of or transferred to energy recovery centers, as end-users use only high-quality material output.

Further, presently, the supply of recycled plastics is not robust. Also, the quality of recycled plastics is not uniform across all regions and facilities. The volume of plastics required by converters is enormous, and the supply side is yet to match the huge demand. This is one of the factors why the adoption rates are currently low for recycled plastics and creates a recycling challenge in the global flexible packaging market. Any fluctuation in the quality or quantity has an immediate impact on the prices of the end products and hence is currently not economically viable.

Competitive Landscape

The global flexible packaging market is highly fragmented, with several top vendors operating. However, the industry is witnessing consolidation, albeit at a slow pace. The key vendors in the global flexible packaging market include Amcor, Berry Global, Mondi, Sealed Air, TC Transcontinental Packaging, Sonoco, Huhtamaki, Constantia Flexibles, Ahlstrom, Greif, WestRock, Smurfit Kappa, Alu Flex Pack, Aptar Group.

The industry has witnessed the entry of many external players by adopting an inorganic growth strategy to expand its operations in many regions. The larger players have technological strength and high-volume product lines that have helped offset the cost variations. The smaller companies focus on customization, as the competition in the market is mainly based on two aspects - features and price.

Recent Developments In The Global Flexible Packaging Market

  • In September 2022, Amcor announced an investment of around USD 45 million in ePac Flexible Packaging, digitally based flexible packaging with high quality and short run length.
  • In August 2022, Berry Global launched top-selling thermoformed and injection stretch blow-molded food packs in recycled PET (rPET) form.
  • In June 2021, Mondi and one of the Dutch cheese packaging companies, Hazeleger, developed a mono-material solution for packaging Westland Kaas Maaslander cheese slices. These packings have the properties of being lightweight and easily recyclable.

Key Company Profiles

  • Amcor
  • Berry Global
  • Mondi
  • Sealed Air
  • TC Transcontinental Packaging
  • Sonoco
  • Huhtamaki
  • Constantia Flexibles
  • Ahlstrom
  • Greif
  • WestRock
  • Smurfit Kappa
  • Alu Flex Pack
  • Aptar Group

Other Prominent Vendors

  • Alinvest
  • Aran Group
  • Aluberg
  • American Packaging Corporation
  • Bischof + Klein
  • Bioplast
  • Carcano
  • Danaflex
  • Printpack
  • ProAmpac
  • Wipak Group
  • Saica Flex
  • Etapak (Baski Ambalaj)
  • Innovia Films
  • UFlex
  • International Paper
  • Reynolds Group
  • Novolex
  • Sigma Plastics
  • Glenroy
  • Symetal
  • Krajcar Packaging
  • ITP
  • Gascogne Flexible
  • Schur Flexibles
  • Schmid Folien
  • RKW Group
  • Pouch Partners
  • Perlen Packaging
  • Goglio Packaging
  • Kleiner Flexible Packaging
  • Winpak
  • Stora Enso
  • Global-Pak
  • Di Mauro
  • Eurofoil
  • Gerosa Group
  • LEEB Flexibles
  • PolyPak
  • PPG
  • Walki
  • All4Labels
  • SIG Combibloc Group
  • Ringmetall SE
  • The Reflex Group
  • DazPak Flexible Packaging
  • Supack
  • Coveris
  • Wipf AG
  • Clondalkin Packaging
  • Korozo Group
  • Grupo Lantero
  • Gualapack Group

Key Questions Answered:
1. How big is the flexible packaging market?
2. What is the growth rate of the flexible packaging market?
3. Which are the key players in the global flexible packaging market?
4. Which region holds the most significant global flexible packaging market share?
5. What are the rising trends in the flexible packaging market?

Key Topics Covered:

1 Research Methodology

2 Research Objectives

3 Research Process

4 Scope & Coverage

5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation

6 Premium Insights
6.1 Market Definition
6.2 Report Overview
6.3 COVID-19 Impact Analysis
6.4 Opportunities & Challenge Analysis
6.5 Segment Analysis
6.6 Regional Analysis
6.7 Competitive Landscape

7 Market at a Glance

8 Introduction
8.1 Overview
8.1.1 Flexible Plastic Packaging
8.1.2 Food & Beverages
8.1.3 Pouches
8.1.4 Key Strategies
8.1.5 Major Highlights
8.1.6 Mega Trends
8.1.7 Flexible Packaging: Beyond 2023
8.2 Key Insights
8.2.1 Raw Materials
8.2.2 Pricing
8.3 Impact of COVID-19
8.3.1 Packaging Sector 2020
8.3.2 Post-COVID-19 Highligths
8.3.3 Impact on Flexible Packaging Supply Chain
8.3.4 Pharmaceutical Packaging
8.3.5 Major Vendor Concerns
8.4 Value Chain Analysis
8.4.1 Material Suppliers
8.4.2 Manufacturers
8.4.3 Distributors
8.4.4 End-Users
8.5 Key Developments & Acquisitions
8.5.1 Key Acquisitions
8.5.2 Key Developments
8.6 Expert Opinion

9 Market Opportunities & Trends
9.1 Increased Focus on Sustainable Flexible Packaging
9.2 Usage of High-Barrier Plastic Packaging Materials
9.3 Increasing Adoption of Flexible Packaging Over Rigid Packaging
9.4 Growing E-Commerce Industry
9.5 Shift from Frozen Packaging to Modified Atmospheric Packaging Products

10 Market Growth Enablers
10.1 Increasing Demand from Healthcare
10.2 Demand for Lightweight Products
10.3 Increase in Pouch Packaging Across End-Users
10.4 Increase in Processed and Packaged Food
10.5 Increase in Shelf Life
10.6 Rising Awareness of Cosmetics & Personal Care

11 Market Restraints
11.1 Recycling Challenges with Flexible Packaging Products
11.2 Higher Operational Costs
11.3 Fragmented Marketplace
11.4 Rising Raw Material Costs
11.5 Slow Economic Growth in 2020

12 Market Landscape
12.1 Market Overview
12.1.1 Geographic Insights
12.1.2 Flexible Plastic: Market Dynamics
12.1.3 Flexible Paper: Market Dynamics
12.1.4 Flexible Foils: Market Dynamics
12.2 Market Size & Forecast
12.3 Product
12.3.1 Market Size & Forecast
12.4 Material
12.4.1 Market Size & Forecast
12.5 Application
12.5.1 Market Size & Forecast
12.6 Consumer Flexible Packaging
12.6.1 Market Size & Forecast
12.7 Flexible Plastic
12.7.1 Market Size & Forecast
12.8 Printing
12.8.1 Market Size & Forecast
12.9 Five Forces Analysis
12.9.1 Threat of New Entrants
12.9.2 Bargaining Power of Suppliers
12.9.3 Bargaining Power of Buyers
12.9.4 Threat of Substitutes
12.9.5 Competitive Rivalry

13 Material
13.1 Market Snapshot & Growth Engine
13.2 Market Overview
13.3 Flexible Plastic
13.4 Flexible Paper
13.5 Foil

14 Application
14.1 Market Snapshot & Growth Engine
14.2 Market Overview
14.3 Consumer Packaging
14.4 Industrial Packaging

15 Consumer Flexible Packaging
15.1 Market Snapshot & Growth Engine
15.2 Market Overview
15.3 Bakery & Confectionery
15.4 Meat, Poultry & Seafood
15.5 Dairy
15.6 Ready-To-Eat (Rte)
15.7 Healthcare
15.8 Frozen Food
15.9 Tea & Coffee
15.10 Personal Care
15.11 Pet Food
15.12 Other

16 Product
16.1 Market Snapshot & Growth Engine
16.2 Market Overview
16.3 Bags & Sacks
16.4 Pouches
16.5 Others

17 Printing
17.1 Market Snapshot & Growth Engine
17.2 Market Overview
17.3 Flexographic Printing
17.4 Rotogravure Printing

18 Geography
18.1 Market Snapshot & Growth Engine
18.2 Geographic Overview


20 Europe

21 North America

22 Latin America

23 Middle East & Africa

24 Competitive Landscape

25 Key Company Profiles

26 Other Prominent Vendors

27 Report Summary

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The Worldwide Flexible Packaging Industry is Expected to Reach $288.99 Billion by 2028: Increase in Pouch Packaging Across End-Users Drives Growth (1)


What is the forecast for the flexible packaging market? ›

Flexible plastic packaging market was valued at USD 160.8 billion in 2020 and is projected to reach USD 200.5 billion by 2025, growing at a cagr 4.5% from 2020 to 2025.

How big is the flexible packaging industry? ›

b. The global flexible packaging market size was estimated at USD 252.0 billion in 2021 and is expected to reach USD 261.0 billion in 2022.
Report AttributeDetails
Market size value in 2022USD 261.0 billion
Revenue forecast in 2030USD 373.3 billion
Growth rateCAGR of 4.5% from 2022 to 2030
11 more rows

What is the growth rate of packaging industry? ›

The Global Packaging Market is expected to register a CAGR of 3.94% during the forecast period of 2022-2027. The global packaging business has experienced consistent growth over the last decade due to substrate choice changes, expansion of new markets, and changing ownership dynamics.

What is the global packaging market forecast? ›

The global packaging and protective packaging market was valued at $1.0 trillion in 2021, and is projected to reach $1.5 trillion by 2031, growing at a CAGR of 4.3% from 2022 to 2031.

Is flexible packaging sustainable? ›

Sustainability and Recyclable Films

Flexible packaging reduces waste, energy use, and greenhouse gas emissions. Additionally, flexible packaging provides many consumer conveniences including extended shelf life, easy storage, microwaveability, and resealability.

Why packaging cost is increasing? ›

Packaging price increases have become commonplace over the previous 18 months. Increased demand for boxes caused by the growth in eCommerce deliveries, alongside raw material shortages and energy prices, has driven up most packaging prices. The Plastic Packaging Tax is also causing some packaging costs to rise.

How big is packaging industry in USA? ›

The market size, measured by revenue, of the Packaging & Labeling Services industry is $11.8bn in 2023. What is the growth rate of the Packaging & Labeling Services industry in the US in 2023? The market size of the Packaging & Labeling Services industry is expected to increase 2.1% in 2023.

What are the 3 types of material under flexible packaging? ›

Flexible packaging is produced from paper, plastic, film, aluminum foil, or any combination of those materials, and includes bags, pouches, liners, wraps, rollstock, and other flexible products.

Which is the fastest growing industry in 2025? ›

India's chemical industry is expected to reach US$ 304 bn by 2025, clocking an annual growth rate of over 15%. This means it could contribute to over 30% of the total manufacturing GDP of US$1 tn expected by 2025.

What is the PE ratio of the packaging industry? ›

PE Ratio of B&A Packaging is 9.80. Earning per share of B&A Packaging is 20.01. Price/Sales ratio of B&A Packaging is 0.74.

What is a high growth rate for an industry? ›

15 percent to 25 percent: Rapid growth. 25 percent to 50 percent annually: Very rapid growth. 50 percent to 100 percent annually: Hyper growth. Greater than 100 percent annually: Light-speed growth.

What is the future of global packaging to 2026? ›

Overall global packaging demand of all types to exceed $1.20 trillion in 2026: Smithers report. In 2021, the world packaging market has returned to solid growth following a slowdown witnessed in 2020, as multiple end-use industries were disrupted by Covid-19.

What is the global packaging industry market size 2022? ›

The global plastic packaging market size was estimated at USD 355 billion in 2021 and is expected to reach USD 369.2 billion in 2022.

Why are packaging stocks rising? ›

The covid led supply chain disruption had led to a sharp rise in the price of polymers and speciality paints prices. Both are key raw materials for packaging companies and the spike led to hit the margins of packaging companies.

Why flexible packaging is not recyclable? ›

Due to food contamination in most flexible packaging going through the current recycling system, a very small percentage is actually reusable. The non-recycled polymers are sent into oxygen-free chambers for incineration, providing emissions-monitored energy to manufacturing plants.

Do consumers prefer sustainable packaging? ›

A study shows that 54% of consumers ages 44 and under consider sustainable packaging when purchasing a product, leading the charge in this trend. Within that age group, 83% have said they're willing to pay more for products sustainably packaged.

What is the most sustainable type of packaging? ›

Reusable plastic packaging can often be the most sustainable option. This can be by minimising damage, reducing raw material use, prolonged lifespan, and even less carbon emissions through efficient transit.

Is packaging a growing industry? ›

Over the past few decades, the global packaging industry has enjoyed healthy growth, supported by several megatrends.

What are 3 reasons benefits of investing in product packaging? ›

4 Reasons To Invest in Packaging Design
  • #1 - New Look = New Customers.
  • #2 – Helps Grow Your Business.
  • #3 - Great Investment For Your Business Value.
  • #4 - Increases Your Profit.

What are the three benefits of packaging? ›

Packaging protects the product. Packaging keeps the product from going bad. Packaging decreases costs. Packaging informs.

Who is the largest packaging company in the US? ›

Subscribe to unlock more. International Paper Co, Westrock Co, Berry Global Group Inc, Ball Corp, and Crown Holdings Inc are the top 5 packaging companies in North America in 2021 by revenue.

Who is the largest packaging company in the world? ›

The United States of America-based International Paper Co is the leading flexible packaging company in the world in 2021 (by revenue).

What percentage of litter does food packaging make up in the US? ›

According to the US Environmental Protection Agency (EPA), food and food packaging materials make up almost half of all municipal solid waste.

What is flexible packaging product examples? ›

Flexible packaging is any package or any part of a package whose shape can be readily changed.” Common examples of flexible packaging include bags, pouches, shrink films, tubes, sleeves, and carded packaging.

What is the three best packaging materials? ›

5 of the Most Common Packaging Materials in the World
  1. Paper/Paperboard/Fiberboard. Paperboard and fiberboard are used in both primary and secondary packaging for companies throughout the world. ...
  2. HDPE/PET/Rigid Packaging. ...
  3. LDP/LLDPE/Flexible Packaging. ...
  4. Aluminum Packaging. ...
  5. Glass/Jars.
Mar 27, 2017

What is the 5 importance of packaging? ›

As well as protecting the product, packaging contributes to efficient distribution, makes storage easy, and can convey crucial handling information, all while promoting your company at the same time!

What are the main advantages and disadvantages of flexible packaging as compared to rigid packaging? ›

-They are often less expensive than rigid packaging materials. -Flexible packaging materials can help to protect products from damage during transportation and storage. Cons: -Flexible packaging materials may not be suitable for products that require a rigid structure.

What are some facts about flexible packaging? ›

Flexible Packaging helps in reducing food waste, thus saving important resources - more than needed to produce the packaging itself. Flexible Packaging saves much more resources than it consumes. go to Serving same purpose while consuming much less material and energy resources throughout entire lifecycle.

Which industry will grow in future in 2025? ›

In this article, we discuss Top 10 Future Business Ideas that will thrive in 2025.
  • Content Marketing.
  • Virtual education/online training.
  • 3D printing.
  • Mental Health and Marriage Counselling Business:
  • Automobile Charging Station.
  • Outlets for Fast Food and Delivery.
  • Internet of Things (IoT Industry)
Sep 8, 2022

What will be the 5 fastest growing industries between now and 2029? ›

5 out of 20 fastest-growing industries from 2019 to 2029 are in healthcare and social assistance
IndustryAnnual rate of changeNet change
Home health care services2.6456,000
Outpatient care centers2.6276,600
Other personal services2.497,100
Computer systems design and related services2.3574,500
37 more rows
Sep 4, 2020

Which industry will grow in next 5 years? ›

Increasing environmental awareness and technological advancements will help create new business opportunities in the global solar energy solutions market, which is projected to rise from $30.06 billion in 2022 to reach $62.97 billion by 2027, growing at a CAGR of 15.94%, according to a recent report by Infogence Global ...

Is a 27 PE ratio good? ›

A “good” P/E ratio isn't necessarily a high ratio or a low ratio on its own. The market average P/E ratio currently ranges from 20-25, so a higher PE above that could be considered bad, while a lower PE ratio could be considered better.

Why is a PE ratio of 15 good? ›

Companies that grow faster than average typically have higher P/Es, such as technology companies. A higher P/E ratio shows that investors are willing to pay a higher share price today because of growth expectations in the future. The average P/E for the S&P 500 has historically ranged from 13 to 15.

Are PE ratios high right now? ›

The current S&P500 10-year P/E Ratio is 29.3. This is 43% above the modern-era market average of 19.6, putting the current P/E 1.1 standard deviations above the modern-era average.

What are the top 3 fastest growing industries? ›

The 10 Global Fastest Growing Industries
  • Global Airport Operation. 16.2%
  • Global Hotels & Resorts. 11.8%
  • Global Travel Agency Services. 11.8%
  • Global Tourism. 10.8%
  • Global Airlines. 7.7%
  • Global Reinsurance Carriers. 6.8%
  • Global Commercial Aircraft Manufacturing. 6.3%
  • Global Architectural Services. 6.2%

Is a 3% growth rate good? ›

The ideal GDP growth rate is between 2% and 3%. The GDP growth rate measures how healthy the economy is. When the number is positive, the economy is growing.

Is a 5% growth rate good? ›

Good economic growth can vary, but typically falls within two to four percent. This means that even if a company is only growing five percent a year, it could still have a good growth rate compared to other businesses. A good growth rate isn't always tied to general economic conditions.

What the future holds for packaging? ›

It lists the top ten themes shaping the future of the packaging industry, including: advanced materials, artificial intelligence (AI), COVID-19, demographics, direct-to-consumer (D2C), eCommerce, environmental social governance (ESG), health and wellness, online food delivery and robotics.

Is the packaging industry recession proof? ›

This is driven by several factors, led by the diversity of products. For example, while a recession may impact discretionary spending, food packaging remains recession-proof, and typically expands when people eat at home.

What is next generation packaging? ›

Next generation packaging is an advanced form of packaging technology. It is an aggregation of three types of packaging, namely active packaging (includes antimicrobials, gas scavengers, emitters and others), intelligent packaging (includes sensors, indicators, and tags) and modified atmosphere packaging.

What is the global packaging industry forecast? ›

The global packaging and protective packaging market was valued at $1.0 trillion in 2021, and is projected to reach $1.5 trillion by 2031, growing at a CAGR of 4.3% from 2022 to 2031.

How big is the flexible packaging market? ›

Flexible Plastic Packaging Market was valued at USD 160.8 billion in 2020 and is projected to reach USD 200.5 billion by 2025, growing at a cagr 4.5% from 2020 to 2025.

What is the future of UPS stock? ›

Stock Price Forecast

The 28 analysts offering 12-month price forecasts for United Parcel Service Inc have a median target of 196.00, with a high estimate of 235.00 and a low estimate of 100.00. The median estimate represents a +7.01% increase from the last price of 183.16.

Why packaging stocks are down? ›

Packaging companies had been at the receiving end due to disruption in supply chain due to covid.

Is box a good stock to buy? ›

BOX has received a consensus rating of Buy. The company's average rating score is 2.71, and is based on 6 buy ratings, no hold ratings, and 1 sell rating.

Is the packaging industry growing? ›

The market size of the Packaging & Labeling Services industry in the US has grown 4.3% per year on average between 2018 and 2023.

What is the future of plastic packaging? ›

At this rate, plastic production is expected to double by 2040 and increase by 2.5 times by 2050. Unless we change how we make and manage plastics, the problem of plastic pollution will keep on growing. In theory, plastics should be readily recycled or at least reused.

What are the new trends in packaging? ›

There is far more to it than just less plastic: The demand for sustainable packaging is on the rise; plastic components are gradually being replaced by renewable, eco-friendly raw materials such as cardboard, grass cardboard or cardboard made from agricultural waste. Smart packaging designs reduce material usage.

What are the growth drivers of packaging industry? ›

The growth in the sector is being driven by a surge in e-commerce, food processing, pharmaceuticals, FMCG, manufacturing industry and healthcare sector. Additionally, numerous government initiatives including 'Make in India' had positive impact on the packaging industry.

What are the three main problems with packaging? ›

The overall packaging production costs are impacted by three major elements: quality, productivity and costs. These three factors are all very important and they should not be seen in isolation but across the entire chain from designing to printing to converting and to packing.

How much plastic will there be in 2030? ›

A new report from WWF International warns that the amount of plastic waste in the world's oceans will reach 300 million tons by 2030. According to the researchers, plastic pollution will likely double over the next decade and nearly a third of all plastic produced will make its way into the environment.

What will happen in 2050 because of plastic? ›

The amount of plastic in the ocean is expected to double in the next 15 years, and by 2050 there could be more plastic than fish in the sea (by weight). There are giant plastic islands floating on the ocean surface, and beaches around the world are increasingly littered with plastic rubbish even in the Arctic.

Is plastic packaging sustainable? ›

Environmental Sustainability. Plastics have a very good environmental profile. Only 4% of the world's oil production is used for plastics and much less energy is used to produce it compared to other materials. Plastics are durable yet lightweight and thus save weight in cars, aircraft, packaging and pipework.

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