Flexible Plastic Packaging Market Size Share and COVID-19 Impact Analysis By Material (Polypropylene (PP), Polyethylene (PE), Polyethylene Terephthalate (PET), and Polyvinyl chloride (PVC)), By Product Type (Bags, Wraps, Pouches, Rollstock, and Others), By End Use (Food & Beverages, Personal Care, Pharmaceuticals, Industrial Packaging, and Others) and Regional Forecast, 2024-2032

The e-commerce industry has used flexible plastic packaging during COVID-19 and post-pandemic, and the demand for flexible packaging has skyrocketed. This shift has expanded the packaging and printing industry's business growth and new opportunities. To provide environmentally friendly packaging solutions, increasing manufacturers are engaging and promoting the development of sustainable and bio-based flexible plastic packaging materials, resulting in market growth. The demand for packaged food is increasing using flexible plastic packaging raw material, and the high export activities in the food & beverage industry are anticipated to drive the flexible plastic packaging market.

• On February 2023, ProAmpac, one of the leaders in flexible packaging and material science, launched new products from its proactive product portfolio ProActive Post Industrial Recycled Content (PIR) and ProActive Recyclable® R-2050. Also, the company will showcase a new RAP product solution that meets the 90/10 fiber ratio.

Many manufacturers use flexible plastic packaging for various consumer goods due to its longer shelf life than other materials and cost-effectiveness, fuelling the market growth. The demand for medical items and household essentials is expected to increase significantly, likely accelerating the demand for flexible plastic packaging solutions.

Recyclability issues associated with flexible packaging are expected to restrain the market growth; the multi-layers of flexible packaging cannot be recycled easily. Furthermore, plastic paper and metal packaging are also difficult to recycle, which will negatively impact the environment. Fluctuating raw materials prices used for packaging product manufacturing are expected to limit growth.

IMPACT OF COVID-19 ON THE FLEXIBLE PLASTIC PACKAGING MARKET

During the COVID-19 pandemic, many people switched to online shopping. The online channel is one of the most widely preferred channels around the globe and is witnessing growth in demand for packaging solutions. Physical retailers shifting to online channels is further powering demand for e-commerce packaging solutions. The demand for packaging in the pharmaceutical industry remained high due to hospitals, PPE, and drug manufacturers. The need for household essentials and healthcare increased during the pandemic. In the post-pandemic era, the market growth will remain high due to the increased demand from various end-user industries, which will drive the flexible plastic packaging market.

KEY INSIGHTS

The report will cover the following key insights:

• Recent Advancements in the Flexible Plastic Packaging Market


• Key Industry Trends


• Regulatory Landscape for the Flexible Plastic Packaging Market


• Key Industry Developments (Mergers, Acquisitions, and Partnerships)


• Impact of COVID-19 on the Market

ANALYSIS BY MATERIAL

Based on the material, the market is segmented into polypropylene (PP), polyethylene (PE), polyethylene terephthalate (PET), polyvinyl chloride (PVC), and others. Polyethylene (PP) holds the largest share in flexible plastic packaging due to the material's availability. It provides high shock absorption and higher structural and thermal stability, making it an ideal packaging material for storage and transportation.

ANALYSIS BY PRODUCT TYPE

Based on the product type, the market is segmented into bags, wraps, pouches, rollstock, and others. The pouches segment holds the largest global flexible plastic packaging market share. It requires less material for manufacturing and reduces the overall cost related to transport, improving the companies' profit margin. The increased use of the segment is attributable to the demand for convenient and lightweight packaging solutions.

ANALYSIS BY END-USE

Based on the end-use, the market is segmented into food & beverages, personal care, pharmaceuticals, industrial packaging, and others. Food & beverage holds the largest share in the flexible plastic packaging market due to the sustainability, cost-effectiveness, and light weight contribute to the segment's growth. The increasing snackification and convenience of consumption are driving the food & beverage segment growth.

REGIONAL FLEXIBLE PLASTIC PACKAGING MARKET ANALYSIS

The flexible plastic packaging market has been studied across North America, Latin America, Asia Pacific, Europe, Middle East & Africa. Asia Pacific region has the largest market share. The need for packaging has been rising as a result of growth in population, urbanization, and a rise in income. The flexible plastic packaging market in the Asia Pacific region in food & beverage, personal care & cosmetic, and pharmaceutical industries is growing due to the properties of flexible plastic packaging such as cost-effectiveness, safety, lightweight, and handling convenience. Due to many small and medium-sized enterprises, Europe is expected to be the fastest-growing region, increasing demand for sustainable packaging solutions. North America region will grow steadily due to the increasing demand for a convenient and easy-to-use packaging solution. The growth of e-commerce and the online food industry is driving the market in this region. Middle East and Africa will have moderate growth due to the pharmaceutical industry development, particularly in Saudi Arabia.

FLEXIBLE PLASTIC PACKAGING MARKET KEY PLAYERS COVERED

The report will include profiles of key players such as Amcor, Constantia Flexibles, Berry Global, Inc., Sonoco, Sealed Air Corporation, Mondi Group, UFLEX Limited, Winpak, Rengo Co. Ltd., and Transcontinental Inc., among others.

SEGMENTATION

KEY INDUSTRY DEVELOPMENTS

• February 2022: UFlex launched new flexible packaging products. Uflex introduced a range of new products in December 2021 for flexible packaging solutions. UFlex's flexible packaging business has presented 3D bags with perforation to give kids an easy tear experience.


• June 2022: Grounded Packaging launched RE: MONO recycled film laminate from 83% recycled material. It offers food manufacturers a sustainable alternative packaging solution. Grounded's new material came from an idea to design a packaging product that limits environmental impact.


• October 2022: PPC Flexible Packaging, LLC acquired Plastic Packaging Technologies. PPC is one of the leaders in printing and converting flexible pouches, films, and other innovative packaging designs. It is recognized in healthcare and medical application and cleanroom packaging.


• On November 2022, TC Transcontinental Packaging launched sustainable packaging for personal care. The company has expanded its range of sustainable, flexible packaging for personal care and home products with vieVERTe recycle-ready packaging.