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Meticulous Research® has released its latest findings, predicting that the global flexible packaging market will grow to $359.3 billion by 2031, at a compound annual growth rate (CAGR) of 4.9% from 2024 to 2031. This expansion is fueled by the rapid development of the food and beverage industry, increasing demand for lightweight and convenient packaging solutions, and the rise of e-commerce. Additionally, a growing focus on sustainable materials and recyclable packaging, along with a surge in personalized packaging options, presents promising opportunities for market growth. However, challenges such as stringent regulatory requirements related to food safety, chemical migration, and limited barrier protection properties could impede progress.
Key Growth Drivers and Opportunities:
- Food & Beverage Growth: The rapid expansion of this sector boosts demand for flexible packaging.
- Lightweight and Convenient Packaging: Growing consumer preference for easy-to-use, portable packaging options.
- E-commerce Surge: The rise in online shopping fuels the need for efficient, durable packaging.
- Sustainable Packaging: Increasing focus on eco-friendly materials and recyclability.
Emerging Opportunities:
- Non-invasive Devices: Rising demand for these in emerging markets.
- Smart Packaging: Incorporation of intelligent features in packaging.
Market Segmentation:
- Material Types: Polyethylene (PE) is expected to dominate the market with over 44% share in 2024, driven by its versatility and barrier properties. Polyester (PET) is set to grow at the fastest rate due to its lightweight and sustainable characteristics.
- Packaging Type: Pouches are expected to hold over 39% market share in 2024, while films and wraps are projected to see the fastest growth due to customization and high barrier protection.
Geographic Overview:
- Asia-Pacific: Expected to lead the market, with a projected 39% share in 2024, driven by retail, e-commerce, and food and beverage growth. The region is also forecasted to experience the highest growth rate at 6% during the period.
- North America and Europe: These regions follow closely behind, supported by technological advancements and significant healthcare spending.
Leading companies in the flexible packaging market include Amcor Group GmbH (Switzerland), Westrock Company (U.S.), Mondi plc (U.K.), Berry Global Inc. (U.S.), and ProAmpac Intermediate, Inc. (U.S.), among others. These firms are driving innovation to meet evolving consumer needs and adhere to regulatory standards.
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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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