Flexible Packaging Market Size will reach to $272 billion in 2024
Flexible Packaging refers to the packaging materials that can change its shape after filling or taking out the packed commodities. Typically flexible packaging products include bag, pouch, liner, overwrap, sleeve, tube, lid, pack film and laminate. It is widely used in food & beverage, cosmetics & personal care, pet food, architectural, pharmaceutical, dental, pesticide and industrial. Food, beverage, cosmetics & personal care are the top 3 application and occupy more than 70% market share of flexible packaging.
The flexible packaging products can be split based on raw materials: plastics, paper and metal. The commonly used plastics include BOPP film, BOPET film, CPP film, LDPE/LLDPE/HDPE film, BOPA film, Bio-polymer film. The commonly used metal material is aluminum foil. Following are the industrial chain of flexible packaging:
There are 40 flexible packaging producers covered in the report. Amcor, Sonoco, Printpack, Wihuri Group, Constantia Flexibles, Huhtamaki, Coveris, Mondi, CTL-TH Packaging Group, Neopac, Montebello Packaging, AEP Group and Berry Global are the global leading companies. Asia-Pacific is the largest market of flexible packaging and account for more than 40% market share in 2018, following by Europe, North America, MEA and South America. Driven by the rapid economic growth of China, India and Southeast Asia, the Asia-Pacific flexible packaging market is expected to keep high growth rate in the future.
Global flexible packaging market size was estimated at $211 billion in 2018 and the market size will reach $272 billion in 2024, with a CAGR of 4.3%.
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