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Flexible Packaging Market Size, Revenue, End Users And Forecast Till 2028

09-19-2024 06:52 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Premium Market Insights

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

MARKET INTRODUCTION
The growth of the flexible packaging market throughout the forecast period is expected to be bolstered by the expansion of modern retailing, increased consumer income, and quicker e-commerce activity, particularly in emerging economies. Flexible packaging is a type of box or container made from malleable materials that can be easily molded to the shape of its contents. It is usually composed of paper, plastic, film, foil, or any combination of these materials.

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Analysis of the Top Market Players:

1. Amcor plc
2. Huhtamaki
3. Mondi
4. Berry Global Inc.
5. Sealed Air
6. Sonoco Products Company
7. Coveris
8. Constantia Flexibles
9. Flexpak services
10. Transcontinental Inc.

In this report, the market has been segmented on the basis of:

Material (Plastics, Paper, Aluminum Foils, and Others)
Product Type (Pouches, Bags, Films and Wraps, and Others)
Application (Food and Beverages, Medical and Pharmaceutical, Personal Care and Cosmetic, Industrial, and Others)

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MARKET SEGMENTATION
The flexible packaging market is categorized by application into food and beverages, medical and pharmaceutical, personal care and cosmetics, industrial, and other sectors. In terms of revenue, the food and beverage segment was the largest in 2020. Flexible packaging plays a key role in decreasing energy consumption, raw material usage, and CO2 emissions in the transportation of food items. Various forms of flexible packaging such as films, flexible pouches, skin packs, clamshells, and modified atmosphere packaging (MAP) are accessible to food retailers.

REGIONAL FRAMEWORK
In 2020, the Asia Pacific region had the highest revenue share of the worldwide flexible packaging market, largely due to an increase in disposable income, an improved standard of living, and consumer interest in convenient packaging solutions. Busy lifestyles have led to a higher demand for packaged food and drinks that are easy to transport and use, boosting the Asia Pacific flexible packaging market.

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