The Flexible Packaging Market perceives rapid revenue growth worldwide. Rising pressure to reduce packaging cost, material use, and environmental impact define the growing market landscape. Packaging companies are increasingly developing new packaging designs using recycled plastic materials. 

Also, they are restructuring their processes to optimize and upgrade productivity, making them adaptable to recycle streams for multi-material structures, which are shaping new flexible packaging formats. With the spurring rise in the food & beverage industry witnessing the high demand for ready-to-eat and on-the-go foods & drinks, the market is projected to garner substantial traction in the years to come. 

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According to Market Research Future (MRFR), the global flexible packaging market is estimated to grow at an impressive CAGR during the estimated period (2020-2027). The increase in disposable income and population growth worldwide increase the market size, increasing the demand for flexible packaging in various lifestyle products. 

COVID-19 has impacted consumers' grocery shopping habits, shifting it from brick & mortar shops to online shopping, creating opportunities for manufacturers, retailers, and consumers. Innovative solution providers have actively started finding new application areas in the packaging sector, which would foster the flexible packaging market growth.

Moreover, rising uses of flexible packaging for dairy products and others escalate the market demand. Advantages of flexible packaging solutions, such as development and printing on different shapes and sizes of pouches, bags, and wraps, boost the market growth, increasing the preferences and demand. 

Conversely, the price volatility and demand-supply gap in raw materials required for production are major factors impeding the market growth. Nevertheless, the rising demand for fresh food and bakery products packaging solutions would support market growth throughout the assessment period. 

Flexible Packaging Market – Segments

The report is segmented into products, printing technologies, applications, and regions. The product segment is sub-segmented into bags, pouches, wraps, and others. The printing technology segment is bifurcated into flexography, digital printing, and others. The application segment is sub-segmented into food & beverages, pharmaceuticals, personal care, and others. The region segment is sub-segmented into APAC, Europe, Americas, and the Rest-of-the-World.

Global Flexible Packaging Market – Regional Analysis 

The Asia Pacific region dominates the global flexible packaging market. The market rise attributes to the spurting growth in the packaging sector, booming e-commerce market, growing demand for packaged food, and consumers growing disposable income in the APAC region. With the presence of leading exporters of goods to different parts across the globe, Japan, India, and China increase the region's flexible packaging market share. The APAC flexible packaging market is expected to retain its dominance throughout the forecast period.

Flexible Packaging Market – Competitive Landscape 

Highly competitive, the flexible packaging market appears fragmented due to the presence of several well-established players. To gain a larger competitive share, players incorporate strategic initiatives such as mergers & acquisitions, expansion, and product & technology launches.

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