Flexible Packaging Industry on Track for $359.3 Billion by 2031

 

Meticulous Research®—a leading global market research company, published a research report titled, ‘Flexible Packaging Market Size, Share, Forecast, & Trends Analysis by Material (PE, PP, PVC, POF, Nylon, PET), Type (Biodegradable), Packaging (Pouches, Bags & Sachet, Films & Wraps), Industry (F&B, Cosmetics, E-commerce) - Global Forecast to 2031’

Download Free Sample Report@ https://www.meticulousresearch.com/download-sample-report/cp_id=4220?utm_source=blog&utm_medium=social&utm_campaign=product&utm_content=24-10-2024


As highlighted in the latest report from Meticulous Research®, the global flexible packaging market is forecasted to reach $359.3 billion by 2031, growing at a compound annual growth rate (CAGR) of 4.9% between 2024 and 2031. This growth trajectory is primarily driven by the rapid development of the food and beverage sector, an increasing preference for lightweight and user-friendly packaging, and the expanding e-commerce landscape. Moreover, the focus on sustainable packaging materials and recyclability, combined with rising demand for personalized packaging solutions, opens up significant opportunities for market expansion. Nonetheless, the market may face hurdles due to stringent regulatory compliance related to food safety and chemical migration, as well as limitations in barrier protection capabilities.

Market Drivers and Opportunities:

  • Food and Beverage Sector Expansion: The rapid growth in this area significantly boosts the demand for flexible packaging solutions.
  • Consumer Preferences for Convenience: An increasing number of consumers are leaning towards lightweight and easy-to-handle packaging options.
  • Surge in E-commerce: The growth of online shopping is driving the necessity for durable and efficient packaging solutions.
  • Focus on Sustainable Packaging: There is a growing emphasis on eco-friendly materials and recyclability.

Emerging Opportunities:

  • Rise of Non-Invasive Devices: The demand for such devices is increasing, especially in developing markets.
  • Smart Packaging Technology: The incorporation of intelligent features into packaging solutions is gaining traction.

Market Segmentation and Insights:

  • Material Segmentation:

    • Polyethylene (PE): Expected to capture over 44% of the market share in 2024 due to its versatility, cost-effectiveness, and excellent barrier properties.
    • Polyester (PET): Anticipated to see the highest growth rate from 2024 to 2031, fueled by its lightweight and sustainable attributes, particularly in beverages and personal care.

  • Type Segmentation:

    • Non-Biodegradable: Projected to account for over 60% of the market share in 2024, driven mainly by its cost efficiency and widespread applications across various sectors.
    • Biodegradable: Expected to grow at a faster pace, spurred by rising consumer demand for eco-friendly solutions and stricter regulations promoting sustainability.

  • Packaging Type Segmentation:

    • Pouches: Forecasted to dominate the market with a share exceeding 39% in 2024, driven by the demand for convenient and cost-effective packaging options.

Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.

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