The global flexible packaging market can reach $373.3 billion by 2030 reports Grand View Research Inc. The market is predicted to rise by 4.5% annually during next years. Increasing consumer demand for convenient, easy-to-use, and sustainable packaging for food and beverages is driving up the growth of the flexible packaging segment.
Flexible packaging is a popular trend in recent years, and there is an essential reason. Innovative materials and technologies make flexible packaging suitable for many more consumer products than when rigid materials were preferred.
The key idea of flexible packaging is to abandon the use of rigid materials in packaging production and make it lighter, space efficient and cheaper. Flexible packaging combines all the advantages of plastic, film, paper, and aluminum without losing its barrier properties, good printing properties, usability, and sustainability.
The most popular flexible packaging is roll stock packaging, pouches, bag-in-box packages, heat-shrink and stretch film, heat-shrink caps and labels, sachet packaging, mixpap lids for multipacks and bundles, bags and envelopes. Such packaging has many advantages compared to rigid ones:
• Production needs less material, energy, and water
• Barrier properties of the material extends the product shelf life
• Has a convenient and practical opening system
• Has an eye-catch appearance on the retail shelf
• Less volume and weight save storage and transportation costs.
Grand View Research Inc. estimated the volume of the world flexible packaging market at $252 billion in 2021. It is expected the flexible packaging market continues growing at 4.5% annually during 2022-2030. In 2024 the flexible packaging industry is forecasted to reach a total value of $269 billion.
Analyses from The Smithers also shows global flexible packaging market size was estimated at 31.5 million tons in 2021. Compared to the 2016 assessment, when the market size was recorded at 26.9 million tons, the world flexible packaging market has been increasing annually by 3.3% over the last 5 years.
By different estimates, the global market will reach 37.5 million tons in 2026, if the annual market growth rate stays at 3.4% (Georgy Cameron. The Future of Flexible Packaging to 2026, Smithers). This report also considers several factors that are expected to impact the flexible packaging market over the next five years, including:
• Economic and demographic changes,
• Sustainable development and change of legal regulations,
• Research and innovations,
• Final consumption trends, etc.
The Flexible Packaging Association reports that the largest market for flexible packaging is the food industry (retail and HORECA), accounting approximately 58% of sales. Other popular markets for flexible packaging are pharmaceutical goods – 14%; personal care – 5%; pet food – 3%; consumer goods – 2%; tobacco – 1%; other non-food products – 5% and industrial needs – 6%.
One of the reasons for the rapid growth of flexible packaging in the packaging market is the development of materials. For many years, the most flexible packaging material was polyvinyl chloride (PVC). These plastics did not break down or decompose, making it hostile to the environmental. Today, polyethylene (PE), polyethylene terephthalate (PET) or polypropylene (PP) materials are primarily used in the production of flexible packaging. These high-tech plastics have high durability over its lifetime but is more conducive to recycling and final disposal. Furthermore, new recycling programs for used packaging are increasingly popular and contribute to the popularization of flexible packaging and the growth of the market.
The Flexible Packaging Market Size, Share & Trends report from Grand View Research Inc. confirms that plastics dominated the flexible packaging industry in 2021 with a 70.1% market share. Modern plastic raw materials are so popular because they can be easily modified by co-polymerization to meet the complex requirements of different packaging as well as their accessibility and cost-effectiveness.
While soft plastics (PE, PET, PP) are the best packaging material for weight, cost, and efficiency, expanding the innovative materials market is essential to address rising levels of pollution due to high levels of plastic usage. Experts predict that the bioplastic raw materials market segment will experience the highest growth rate of 6% from 2022 to 2030. The introduction of strict government regulations, especially in North America and Europe countries, is expected to have a positive effect on the demand for sustainable materials, thus stimulating the growth of the bioplastics segment.
The packaging market key stakeholders such as TECHNOLOGIA JSC invest in R&D departments and collaborate with technology companies to develop effective flexible packaging solutions that would have excellent protective and barrier properties but remain safe and ecologically friendly. This is the way TECHNOLOGIA JSC uses the best modern technologies, manufacturing flexible packaging to reduce the use of plastic, water, and energy and to cut down the global plastic waste.
There is no better time to think of flexible packaging as the best packaging option for your new product range or to enhance existing packaging.
Feel free to contact us at baginbox@technologia.com.ua to discover all our flexible packaging options for your products.
