The global flexible packaging market size is expected to reach $373.3 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.5% from 2022 to 2030. Growing consumer driven demand for packaged food and beverage products owing to its convenience and ease of consumption is expected to drive market growth.
Flexible Packaging Market Growth & Trends
Flexible packaging products are lightweight, take less space in transportation, are cheaper to manufacture and use less plastic, thus present more environmentally friendly profile than rigid products. Increasing emphasis on use of sustainable packaging products globally is expected to bolster the demand for flexible packaging products during the forecast period.
The global cosmetic and personal care industry is characterized by the growing awareness pertaining to health and wellness coupled with increasing demand for natural, chemical-free and organic products. Thus, rising green consciousness are expected to drive the demand for organic and natural skincare products over the forecast period, which, in turn, is anticipated to boost the demand for flexible packaging solution such as plastic tubes and pouches.
Growing demand for cost effective shipping of commodities is expected to augment growth of flexible packaging products such as flexitanks over the forecast period. Moreover, increase in trade activities in countries of Asia Pacific is expected to drive market growth in the region over the forecast period.
Source: Flexible Packaging