Flexible Plastic Packaging Market

The flexible plastic packaging market is projected to reach USD 257.58 billion by 2029 from USD 207.93 billion in 2024, at a CAGR of 4.4% during the forecast period.

The market for flexible plastic packaging is likely to experience significant growth in the forecast period, driven by accelerating demand within various sectors, including food, beverages, pharmaceutical & health care, personal care & cosmetics, and others, and the emergence of innovative solutions within the industry. Flexible packaging products, like bags, stick packs, sachets, pouches, films, and wraps included in this category, have lately gained popularity for their lightweight nature, durability, and the potential to extend shelf life, thus playing an important role in food preservation and safety. As global consumer trends change towards convenience and sustainability, the flexible plastic packaging market has become one of the prevalence mainly driven by the food and beverage industries wherein product quality becomes highly dependent on its packaging. The increase in demand for flexible plastic packaging is further fueled by the rise in e-commerce; companies are looking for strong packaging solutions with a lower waste rate, and resistance to shipping. Regulatory pressures to reduce plastic waste are making manufacturers look for biodegradable and recyclable materials to create new opportunities for innovation.

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The flexible plastic packaging market is dominated by key manufacturers like Amcor plc (Australia), Berry Global Inc. (US), Sonoco Products Company (US), Constantia Flexibles (Austria), Huhtamaki Oyj (Finland), Mondi (UK), Sealed Air (US), Transcontinental Inc. (Canada), CCL Industries (Canada), Coveris (Austria), and Bischof+Klein SE & Co. KG (Germany) among others. These players have followed many initiatives, mergers & acquisitions, investment & expansion, new product launches, and partnerships, collaboration & agreements from January 2019 to October 2024, to expand the market share and global reach.

Amcor plc (Australia), formerly known as APM-Australian Paper Manufacturers, was established in 1860 as a paper manufacturing company and changed its name to Amcor Limited in 1986. Amcor plc is a global leader in packaging solutions renowned for its innovative and sustainable packaging products. The company operates through two segments, namely, Flexible and Rigid packaging. The flexible segment operates 166 plants across 37 countries with over 36,000 employees, producing flexible packaging for food, beverages, healthcare, pharmaceuticals, and personal care. In contrast, the rigid segment has 52 plants in 11 countries with more than 5,000 employees, manufacturing closures, and bottles for healthcare and food products. The company has been producing goods for various markets, including food and beverage, healthcare, home care, personal care, and technical applications. The company supplies its merchandise to Asia Pacific, Europe, North America, South America, and Africa.

Berry Global Inc. (US), a global manufacturer and distributor of innovative packaging and engineered products, is a well-known international provider of plastic packaging goods with a focus on consumer-oriented end markets. The company’s operations are organized into four segments such as consumer packaging international, consumer packaging North America, engineered materials, and health, hygiene & specialties. The company produces caps, closures, bottles, vials, applicators, apparel, films, laminates, tubes, and trays for homecare, hygiene, food and beverage, healthcare, building & construction industries, specialty, and others. The company operates more than 250 manufacturing facilities in the US, Europe, Africa, Mexico, the Caribbean, China, Canada, France, India, Brazil, the Netherlands, Germany, the UK, Australia, Malaysia, Argentina, Colombia, Italy, Belgium, and Spain, and others and distributes products globally.

Sonoco Products Company (US), is a manufacturer of consumer packaging, industrial products, and protective packaging and a provider of packaging supply chain services. The company operates through three segments, Consumer Packaging, Industrial Paper Packaging, and All Other. The consumer packaging segment consists of rigid packaging (paper, metal, and plastic) and flexible packaging, primarily serving the consumer staples market focused on food, beverage, household, and personal products. The Industrial Paper Packaging segment focuses on products made predominantly from recycled fiber, including paperboard tubes, cores, cones, and cans, as well as partitions, paper-based protective materials, and uncoated recycled paperboard for premium applications like folding cartons, can board, and laminated structures. The company operates approximately 270 plants across five continents to effectively serve its diverse markets.

In July 2024, Berry Global Inc. signed a merger with Glatfelter Corporation, to create a new brand named Magnera by combining Berry's Health, Hygiene, and Specialties Global Nonwovens and Films business with Glatfelter.

• In June 2024, Constantia Flexibles and Greiner Packaging partnered to launch a fully home compostable coffee capsule solution, featuring Greiner's capsule body and Constantia’s EcoPressoLid.
• In May 2024, Mondi partnered with Scan Sverige AB to develop a sustainable packaging solution for Scan’s Pärsons brand cold cuts, including sliced ham, salami, and plant-based products.
• In February 2024, Amcor partnered with Stonyfield Organic and Cheer Pack North America to introduce the first all-polyethylene (PE) spouted pouch, marking a significant advancement in sustainable packaging.
• In January 2024, Sonoco Products Company formed an agreement with Black Diamond Capital Management, LLC to sell its Protective Solutions packaging business for approximately USD 80 million.

Related Reports:

Flexible Plastic Packaging Market by Packaging Type (Pouche, Rollstock, Bag, Films & Wraps), Material (Plastics, Aluminium Foils), Printing Technology (Flexography, Rotogravure, Digital Printing), Application, and Region - Global Forecast to 2029

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