Insights on the Flexible Packaging Global Market to 2029 –

On Sep 6, 2021

DUBLIN, September 06, 2021–(BUSINESS WIRE)–The “Flexible Packaging Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 To 2029” report has been added to ResearchAndMarkets.com’s offering.

Packaging of the products is one of the most vital components in many sectors including fast moving consumer goods, food and beverages, pharmaceutical and others. Packaging protects and preserves the product from damage, and at the same time act as a crucial marketing and communication tool for the business. Flexible plastic packaging refers to the use of plastic material including polypropylene (PP), polyethylene (PE), and polyethylene terephthalate (PET) etc. to create non-rigid plastic structures whose shape can readily be changed. The technologies that shaped the modern flexible plastic packaging dates to 1690 when the first paper mill was established in the US.

Need For Cost Effectiveness and Quality Propelling Market Growth

Global flexible plastic packaging market is estimated to grow at a CAGR of 6.1%during forecast period (2021-2029). Global flexible plastic packaging market is primarily driven by cost effectiveness & increased shelf-life and rising demand from end-users. According to the Flexible Packaging Association (FPA) (US), as compared to other types of packaging, flexible packaging can save cost up to 10 times thus, enables increased product yields by reducing content waste by 50-90%. Furthermore, as per Industry Council for Research and Packaging on the Environment (INCPEN), flexible plastic packaging reduced the wastage of food from 3-1% by extending the shelf-life of products such as dairy, vegetables, etc. Moreover, increasing demand for fresh food is propelling the adoption of flexible plastic packaging across the globe. As per a study by United States Environmental Protection Agency (US EPA), flexible plastic bags produce 80% less solid waste than paper and other materials and consume 40% less energy to produce. In addition, the study also stated that a pound of plastic takes 91% lesser energy to recycle as compared to a pound of paper and other materials, making flexible plastic packaging materials more cost effective than other conventional packaging materials such as paper coupled with other advantages offered by them such as increased food shelf life, downsizing of packaging, lightweight and durability. Covid-19 led lock downs had significant adverse impact on the market due to interruption in production and logistics. The report covers the impact of the pandemic in-depth.

F&B Takes The Lion Share

Global flexible plastic packaging market has been segmented on the basis of type, printing technology and application. The application segment is further sub-segmented into food & beverages, cosmetics & toiletries, healthcare and others. Food & Beverages leads the application segment in terms of revenue in the global flexible plastic packaging…