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 the 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 has been 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, 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:
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 will continue 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 show global flexible packaging market size was estimated at 31.5 million tons in 2021. Over the last 5 years, the world’s flexible packaging market has been growing at an annual rate of 3.3%. In 2016, it was estimated at 26.9 million tons.
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:
The food industry (retail and HORECA) makes up 58% of flexible packaging sales, according to the Flexible Packaging Association. 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 them hostile to the environment. 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 their lifetime but are more conducive to recycling and final disposal. New recycling programs for used packaging are becoming more and more popular. These programs help make flexible packaging more common and contribute to the market’s growth.
The Flexible Packaging Market Size, Share & Trends report from Grand View Research Inc. says that plastics were the most commonly used material in flexible packaging in 2021, accounting for 70.1% of the market. Plastic materials are popular because they can be easily changed to meet the different needs of packaging. They are also easy to find and cost-effective.
Soft plastics (PE, PET, PP) are the best packaging material when considering weight, cost, and efficiency. However, it is important to find new materials to reduce pollution caused by the excessive use of plastic. Experts predict the bioplastic raw materials market segment will experience the highest growth rate of 6% from 2022 to 2030. The introduction of strict government rules in North America and European countries is expected to increase the demand for sustainable materials. This will help the bioplastics industry grow.
The packaging market key stakeholders such as TECHNOLOGIA JSC invest in R&D departments and collaborate with technology companies. They develop effective flexible packaging with excellent protective and barrier properties, staying safe and ecologically friendly at the same time. They use the best manufacturing technologies to reduce plastic, water, and energy consumption to cut down the global plastic waste.
There is no better time to think of flexible packaging. It is 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.