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Flexible Plastic Packaging Market Value to Reach $264.9 Billion by 2030 – Exclusive Report by MarketsandMarkets™

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Flexible Plastic Packaging Market Value to Reach $264.9 Billion by 2030 – Exclusive Report by MarketsandMarkets™

April 25
22:21 2023
Flexible Plastic Packaging Market Value to Reach $264.9 Billion by 2030 - Exclusive Report by MarketsandMarkets™
Browse 263 market data Tables and 55 Figures spread through 300 Pages and in-depth TOC on “Flexible Plastic Packaging Market”
Flexible Plastic Packaging Market by Packaging Type (Pouches, bags, roll stock, films & wraps), Printing Technology (Flexography, Rotogravure, Digital Printing), End-user Industry, Material (Plastics, aluminum Foils,) and Region

The flexible plastic packaging market is approximated to be USD 182.4 billion in 2022, and it is projected to reach USD 264.9 billion by 2030, at a CAGR of 4.8%. Flexible plastic packaging refers to any component of a package that is made of plastic and can easily change its shape. Common types of flexible plastic packaging include bags, pouches, shrink film, tubes, sachets, roll stocks, and sleeves. This type of packaging offers numerous benefits to manufacturers, including the ability to create visually appealing packages that provide enhanced convenience to consumers. In addition, flexible plastic packaging is considered a more environmentally friendly alternative to rigid packaging materials such as cardboard or glass. By choosing flexible plastic packaging, businesses can reduce their environmental impact while still delivering high-quality products to their customers.

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Flexible packaging is utilized across a wide range of market sectors, including food and beverage, consumer and household goods, pharmaceutical and medical, healthcare, cosmetics and toiletries, retail non-food, industrial applications, nutritional and supplement products, agricultural, horticulture, and veterinary and pet foods. This type of packaging offers versatile solutions to meet the specific needs of each market sector, such as preserving the freshness of food and beverages or protecting pharmaceutical products from damage. By understanding the diverse applications of flexible packaging, businesses can identify opportunities to optimize their packaging strategies and meet the demands of their target markets.

The demand for flexible plastic packaging is mainly furnished by global players manufacturing for various end-use industries. Some of the leading companies involved in the manufacturing of flexible plastic packaging are Huhtamaki Oyj (Finland), Berry Global Group Inc. (US), and Amcor Limited. (Australia), Mondi Group. (UK), and Sonoco Products Company (US). These companies, along with other regional companies, cater to the demand for flexible plastic packaging products globally.

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Constantia Flexible (Austria) also known as Constantia Flexibles International GmbH is a leading producer of flexible packaging products that serve the food, pharmaceutical, and beverage industries. It is the result of a merger between Austria’s Constantia Teich GmbH and Germany’s Haendler & Natermann GmbH. The company operates through two divisions: Pharma and Consumer. Its packaging solutions include film-based, paper-based, and aluminum-based products, and it has around 38 production facilities spanning 16 countries. Constantia Flexibles caters to the flexible packaging needs of various sectors, including coffee, dressings & liquids, dehydrated products, pet food, and ready meals.

Berry Global Group Inc. (US) is a renowned global supplier of plastic packaging solutions that primarily cater to consumer-focused industries. The company has four business divisions, namely Engineered Materials, Consumer Packaging International, Consumer Packaging North America, and Health, Hygiene, & Specialties. Its main markets include healthcare, personal care, and food & beverage. With operations in over 290 locations worldwide, Berry Global Group conducts business in various countries such as the US, China, Mexico, Canada, France, India, Brazil, the Netherlands, Germany, the UK, Australia, Malaysia, Argentina, Colombia, Italy, Belgium, and Spain.

Amcor Limited (Australia), formerly known as APM Australkan Paper Manufacturers, has a rich history dating back to 1860 as a paper manufacturer. In 1906, the company changed its name to Amcor Limited and has since become a global leader in innovative packaging solutions. Amcor operates through two business groups: Flexibles and Rigid Plastics. The Flexibles business has a strong global presence and is one of the world’s largest suppliers of flexible packaging and specialty folding cartons. It offers a wide range of flexible packaging solutions for various industries, including food, beverage, pharmaceutical, medical, home & personal care, and more. By leveraging its expertise and global reach, Amcor continues to drive innovation and deliver high-quality packaging solutions to its customers worldwide.

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Other companies have initiated the following developments:

  • In January 2023, Constantia Flexibles signed a joint venture agreement with Premji Invest and SB packagings for its Indian business and operations. This agreement will help to achieve its ambition to grow further and create value in the Indian flexible plastic packaging market.
  • In January 2023, Amcor Limited acquired MDK, a Chinese company that provides packaging for medical devices. This acquisition will strengthen Amcor’s leadership in the Asia Pacific medical packaging segment, especially serving China, India, and Southeast Asia markets.
  • In December 2022, Amcor Limited signed a Memorandum of Understanding (MOU) with Licella Holdings to invest in plastic advanced recycling facilities in Australia. This deal strengthens Amcor and Licella’s commitment to developing a local circular economy for soft plastics in Australia and advances Amcor toward achieving its objective of having 30% recycled content in all of its products by 2030.
  • In September 2022, Berry Global Group, Inc. announced a collaboration with Mars Inc., to launch its popular pantry-sized treats in polyethylene terephthalate (PET) jars that have been optimized by including 15% recycled plastic content i.e., post-consumer resin (PCR).
  • In August 2022, Constantia Flexibles announced an agreement to acquire 100% of FFP Packaging Solutions Ltd., a leading company in flexible, sustainable packaging from Northampton, UK.

About MarketsandMarkets™ 

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The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. 

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The Knowledge Store™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. 

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