Flexible Packaging Market Comprehensive Analysis Along With Trends, Recent Development and Leading Growth Drivers

Asia-Pacific held the highest market share in 2022 and is likely to dominate the market during the forecast period.

WILMINGTON, DELAWARE, UNITED STATES, April 30, 2024 /EINPresswire.com/ -- Allied Market Research recently released a report titled "Flexible Packaging Market by Packaging Type, Material, End-use Industry, and Region - Global Opportunity Analysis and Industry Forecast, 2023-2032". The report indicates that the global flexible packaging market, valued at $197.4 billion in 2022, is projected to reach $325.8 billion by 2032, with a compound annual growth rate (CAGR) of 5.1% during the forecast period.

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Key Growth Drivers:

- Increased demand for fast-moving consumer goods.
- Rise in e-commerce activities and food delivery services.
- Concerns regarding the recyclability and disposability of plastic packaging products, along with stringent government regulations on plastic packaging.
- Development of nano-food packaging and a shift toward renewable and innovative packaging solutions.

Red Sea Crisis Impact Scenario:

The Red Sea Crisis has disrupted global supply chains, affecting approximately 11% of global trade, especially Asia-Europe shipping routes. This disruption has led to increased shipping costs and delays, impacting various industries, including flexible packaging.

Segment Insights:

- Packaging Type: The film segment, comprising mainly plastic materials, held the highest market share in 2022 and is expected to maintain its leadership status throughout the forecast period. The segment is driven by its aesthetic appeal, lightweight nature, and cost-effectiveness.
- Material: The paperboard segment accounted for the highest market share in 2022 and is projected to maintain its leadership position due to increased demand driven by the food & beverage industry and advancements in environmentally friendly packaging.
- End-use Industry: The food & beverage segment led the market in 2023 and is expected to maintain its dominance, followed by the pharmaceutical segment, which is projected to witness significant growth due to rising healthcare demand and advancements in drug delivery.
- Region: Asia-Pacific held the highest market share in 2022 and is likely to dominate the market during the forecast period. North America is expected to witness the fastest CAGR, driven by increased demand for flexible packaging in various industries.

Want to Access the Statistical Data and Graphs, Key Players' Strategies: https://www.alliedmarketresearch.com/flexible-packaging-market/purchase-options

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Leading Market Players:

Key players in the global flexible packaging market include Amcor Plc, Berry Global Inc., Constantia Flexibles, Coveris, Flexpak Services, Mondi, Sealed Air, Sonoco Products Company, Transcontinental Inc., and Huhtamaki.

These players have adopted various strategies such as new product launches, collaborations, expansions, joint ventures, and agreements to increase their market share and maintain dominance in different regions. The report provides insights into their business performance, operating segments, product portfolio, and strategic moves to highlight the competitive landscape.

David Correa
Allied Market Research
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