Increased Consumption of Processed Food & Beverage To Drive the Flexible packaging Market

Flexible packaging used a variety of materials, including foil, plastic, and paper, to create pouches, bags, and other pliable product containers. The demand for flexible packaging products is growing from various industries such as the food and beverage, personal care, and pharmaceutical industries. Under flexible packaging shipping and handling costs is low as it takes less space than rigid packaging. Also, it is less bulky and lighter than traditional options, so it is easier for customers to buy, transport, and store products.

The flexible packaging market is projected to reach US$ 237,975.67 million by 2028 from US$ 176,173.61 million in 2021; it is expected to grow at a CAGR of 4.4% from 2021 to 2028.

The food & beverage sector is witnessing robust growth. The number of food vendors is increasing at a rapid pace owing to significant demand for convenience food products, takeaway services, and online food delivery services. According to Canada.ca, the food & beverage processing industry is the second largest manufacturing industry in Canada in terms of the value of production with sales of goods manufactured worth $117.8 billion in 2019. According to the Flexible Packaging Association (FPA), the flexible packaging industry in the US accounted for US$ 33.6 billion in 2019 of which the food packaging segment accounted for the largest share of 52%. Hence, the growth in the food & beverage industry drives the flexible packaging market. Flexible packaging helps to protect food from environmental elements such as sunlight, temperature, and moisture, flexible packaging can increase the shelf life of perishable products.

A few players operating in the flexible packaging market are Amcor ; Huhtamaki ; Mondi Group ; Berry Global, Inc. ; 希悦尔 ; Sonoco ; Coveris Group ; Constantia Flexibles ; Flexpak Corporation ; and TC Transcontinental among others.

Flexible Packaging Market: Segmental Overview

Based on material, the flexible packaging market is segmented into plastics, paper, aluminum foils, and others. The plastics segment held the largest share of the market in 2020. Flexible plastic packaging delivers a wide range of protective properties while ensuring a minimum amount of material being used. It is made from high-grade polymers such as PVC, polyamide, polypropylene, and polyethylene. These polymers are FDA-approved and are contaminant-free. They can tolerate extreme temperatures and pressures. Furthermore, they act as a protective layer for the food and beverages by protecting it from micro-organisms, UV rays, moisture, and dust.

Based on product type, the flexible packaging market has been segmented into pouches, bags, films and wraps, and others. The bags segment held the largest share of the market in 2020. Bags are commonly made of metal foil, plastic, and occasionally paper. These bags are used in various packaging applications including food products, confectionery products, biscuits, coffee, powdered milk, and snacks. Also, these bags offer convenience for transport and material savings, as well as suitable for repeated use.

Based on application, the flexible packaging market is segmented into food and beverages, medical and pharmaceutical, personal care and cosmetic, industrial, and others. The food and beverages segment held the largest share of the market in 2020. Flexible packaging is widely used for packaging food products such as eggs, fresh fruits and vegetables, and salad. Flexible packaging protects products from moisture, UV rays, mold, dust, and other environmental contaminants that can negatively affect the product, thereby maintaining its quality and extending its shelf life. Also, with the growth of online food delivery channels, the demand for flexible, affordable, and recyclable packaging is on a rise.

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