Published by mark itwired
Posted on October 10, 2021
5 min readLast updated: January 29, 2026
The flexible plastic packaging market is set to reach $98B by 2021, driven by consumer demand for sustainable and convenient packaging solutions.
Driven by shifting consumer preference from traditional packaging products to stand-up pouches and re-closable packaging, the flexible plastic packaging market is forecast to reach valuation of US$ 98 Billion by the end of 2021, finds Future Market Insights (FMI) in a study.
The flexible plastic packaging market with its material segment, product segment, and packaging segment will generate sales of over 33.6 million tons in 2021, according to the annual market analysis conducted by Future Market Insights.
Rising urbanization and busy lifestyle have fueled the demand for convenient and fast foods, thus leading to increase in demand for flexible packaging. These packaging solutions are preferred over hard packaging as they require less energy for production, consume limited resources, readily available and are convenient to store and use.
Consumers are shifting towards buying packaged and processed food items rather than using traditional approach to preparing meals thus boosting the demand for flexible plastic packaging.
The Natural Resources Defense Council reported that Americans waste more than 400 pounds of food per person every year. The wasted food results in generating pollution equivalent to 37 million cars per year.
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Flexible plastic packaging is emerging as a key solution to avoid food wastage as it improves shelf-life of the product as well as creates high barrier reducing the contamination of food. This method reduces the storing and shipping expenses. These factors will positively influence the sales of flexible plastic packaging.
Increasing government funding towards developing bio-plastics and improving the recycling infrastructure for efficient processing along growing awareness among consumers regarding the use of sustainable packaging will boost the flexible plastic packaging market growth in upcoming years.
Flexible plastics packaging is replacing rigid packaging owing to its highest sustainability benefits and Superior quality to provide in-transit protection to products. Increasing focus by market players on converting old packaging into new packaging formats, or a host of other products will create opportunities for market growth over the forecast period.
Key Takeaways from FMI’s Flexible Plastic Packaging Market Study
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“Rising usage of flexible plastic packaging in online retail and e-commerce industry and increasing consumer reliance on online delivery of essential products especially during pandemic will drive the flexible plastic packaging market growth over the forecast period,” says the FMI analyst.
Flexible Plastic Packaging Market Competitive Landscape
Leading market players are focusing on new product development to expand their product portfolio and penetrate new markets. They are also working towards devising new methods for sustainable packaging to gain the competitive edge in flexible plastic packaging market.
For instance, in 2021, ThyssenKrupp’s plant engineering business won another order to construct a new bioplastics plant in South China. The plant will be based on patented PLAneo technology and is predicted to produce 30,000 tons of polylactide (PLA) annually.
In January 2021, Yum China which holds major stakes in leading fast food joints in China launched plastic reduction and sustainable packaging initiatives and aims to 30% reduction non-degradable plastic packaging weight in next five years.
Prominent players operating in the flexible plastic packaging market are:-
More Insights On The Global Flexible Plastic Packaging Market
In its latest report, FMI offers an unbiased analysis of the global flexible plastic packaging market, providing historical data for the period of 2018-2028 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of material type (oil base polymers and bio-plastics), product type (pouches, bags & sacks, tubes, sleeve labels, and films & wraps), packaging type (VSP (vacuum skin packaging), MAP (modified atmospheric packaging), and general barrier), end use (food, beverages, personal care, homecare, pharmaceuticals, industrial packaging, and others), across seven major regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East and Africa).
About Packaging Division at Future Market Insights
The Packaging division at FMI provides an in-depth historical analysis and granular projections of the global packaging market. Ranging from packaging materials to designs & formats, FMI has an exhaustive market research database, serving clients with unique offerings and strategic recommendations. With a repository of 750+ reports, the team analyzed the packaging industry comprehensively in 70+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help
The post Flexible Plastic Packaging Market Key Players, Product and Production Information analysis and forecast 2021 – 2031 appeared first on Industry News Analsis.
The article focuses on the growth and forecast of the flexible plastic packaging market from 2021 to 2031.
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