FLEXIBLE PAPER PACKAGING MARKET: COMPREHENSIVE SIZE, SHARE 2032
The global flexible paper packaging market is predicted to display commendable progress during the forecast period of 2024-2032. Flexible paper packaging is a lightweight and economical solution employed for safeguarding, packaging, and extending a product’s life. The eco-friendly attributes and high efficiency play a pivotal role in the global expansion of flexible paper packaging market growth. The growing trend for frozen and ready-to-eat items will also propel the market growth. Potential advantages, such as packaging customization, custom packaging, prolonged lifespan, and product efficiency are driving the demand for flexible paper packaging in various sectors. Notable developments from manufacturers are also bolstering the market growth.
Fortune Business Insights presents this information in a report titled "Flexible Paper Packaging Market, 2024-2032."
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Major Players Profiled in the Report:
- Amcor Plc (Australia)
- Sappi Limited (South Africa)
- International Paper Company (U.S.)
- KapStone Paper and Packaging Corporation (U.S.)
- WestRock Company (U.S.)
- Sealed Air Corporation (U.S.)
- Sonoco Products Company (U.S.)
- DS Smith Packaging Limited (U.K.)
- Mondi Plc (U.K.)
- Sabert Corporation (U.S.)
Segments:
By packaging type, the market is segregated into wraps, bags and sacks, envelops, pouches, sachets, and others.
By end-user, the market is segmented into food and beverages, personal care & cosmetics, pharmaceutical, consumer goods, and others.
With respect to geography, the market is studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Report Coverage:
The report analyzes the market in-depth and highlights several key areas, such as leading packaging types, end users, and key market players. It also focuses on the top market developments and the latest industry trends. Besides the aforementioned factors, the report covers many other factors that have helped the market grow.
Drivers and Restraints:
Heightened Awareness About Sustainable Packaging to Spur Market Growth
The rising adoption of flexible paper packaging across various industries, such as healthcare, food & beverages, and consumer goods, driven by the growing disposable incomes, will contribute to growth of the global flexible paper packaging market share. The preference for flexible paper packaging over plastic packaging solutions, along with heightened awareness about sustainable packaging, will contribute to the market growth. The rising utilization of flexible paper packaging to reduce product waste and extend the product’s shelf life, is fueling the market expansion. The stringent government regulations on the use of plastic products are further expected to propel the market in the coming years.
However, the lack of recyclability poses a major restraint on the growth of the global flexible paper packaging market. The comparatively lower durability of flexible paper packaging products than rigid packaging alternatives is also likely to impede the market's progress.
Regional Insights
North America Dominates Market Due to Growing Investments in R&D Activities
North America holds the leading position in the global flexible paper packaging market due to its technological developments, substantial investment in research & development operations, and rising environmental concerns.
Asia Pacific stands out as the second-dominant region due to the growing e-commerce sector. Additionally, the increasing focus on environmental sustainability and government initiatives to ban plastics in nations, such as China and India will contribute to the region’s growth.
The European flexible paper packaging market will also experience a rapid surge in growth owing to the region's augmenting beauty & cosmetics and food & beverage sectors.
The augmenting demand for smaller pack-size products and higher disposable incomes will fuel Latin America's flexible paper packaging market.
The Middle East and African markets are anticipated to show moderate growth due to the growing demand for ready-to-eat products.
Competitive Landscape
Leading Market Players to Focus On Product Development to Remain Competitive
Some of the leading players operating in this market include Amcor Plc, Sappi Limited, International Paper Company, KapStone Paper and Packaging Corporation, WestRock Company, Sealed Air Corporation, Sonoco Products Company, DS Smith Packaging Limited, Mondi Plc, Sabert Corporation, Packaging Corporation of America, Georgia-Pacific LLC, among others. These firms are increasing their efforts to launch novel products in the market to remain competitive.
Information Source: https://www.fortunebusinessinsights.com/flexible-paper-packaging-market-108352
Key Industry Development
- May 2022: Brook + Whittle, a prominent provider of shrink sleeves, pressure-sensitive labels, and flexible packaging, officially completed the acquisition of Diamond Flexible Packaging Company. The latter is a premium provider of converting & flexible packaging solutions including custom-printed bags and pouches for various industries. The acquisition will significantly enhance Brook + Whittle’s web printing capabilities.
- January 2022: Amcor introduced a cutting-edge line of paper-based packaging products under the brand name AmFiberTM. This innovative solution offers European snacks and confectionery manufacturers a recyclable packaging option with a high barrier against oxygen and moisture.
- August 2021: Huhtamaki declared the successful acquisition of a prominent sustainable supplier, Elif. This move will see Elif being integrated into Huhtamaki’s flexible packaging business segment, further enhancing its sustainable packaging offerings.
- December 2020: Mondi launched EcoWicketBag, a sustainable paper-based packaging solution, for Drylock Technologies' baby diaper ranges. This eco-friendly alternative to traditional plastic diaper packaging underscored EcoWicketBag’s commitment to offering sustainable packaging solutions for its customers.