Flexible Plastic Packaging Market | Exactitude Consultancy Reports
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Flexible plastic packaging market by Material (Plastic, Aluminum foil), by Type (Pouches, roll stocks, Bags, Wraps), by Technology (Flexography, Rotogravure, Digital printing), by Application (Food, Beverage, Pharma and healthcare, Personal care and cosmetics) and Region, Global trends and forecast from 2022 to 2029
The flexible plastic packaging market is expected to grow at 8.89% CAGR from 2022 to 2029. It is expected to reach above USD 395.56 Billion by 2029 from USD 200.13 Billion in 2020.
In 2021, the plastic sector dominated the market and had the highest revenue share (70.1%). The need for plastic packaging in food and beverage applications is anticipated to rise in response to the rising demand for novel goods such flexi tanks and retort pouches for bulk transportation and storage of beverages and semi-solid food products. High market share of the material is influenced by increased consumption of these items globally in 2021.
The flexible plastic packaging market is anticipated to be dominated by the pouch type. The rise in demand for these types across a variety of applications in the food, beverage, pharmaceutical, and personal care & cosmetic industries can be credited with the segment’s leading market position. The rise in demand for portable and lightweight packaging options is what’s causing the need for pouches to increase.
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