Flexible Paper Packaging Market - Forecast(2024 - 2030)
Overview
Flexible Paper Packaging Market is
forecast to reach $93.71 billion by 2025, after growing at a CAGR of 4.5% during
2020-2025. The increasing population and demand for cheap substitutes for
packaging drive requirements for flexible paper packaging materials. Increasing
environmental concerns about plastic usage have led to a shift to paper-based
options for consumers in the packaging application.
Report Coverage
The “Flexible Paper Packaging Market Report – Forecast (2020-2025)”, by
IndustryARC covers an in-depth analysis of the following segments of the Flexible
Paper Packaging Market.
Key Takeaways
- Stringent regulations and standards set by governments and agencies to safeguard the environment and promote recyclable paper-based options are expected to play a critical role in shaping the market.
- The rapid growth in the use of paper bags were stimulated by online shopping and deliver on-demand services.
- Due to the increasing adoption by consumer eco-friendly packaging products, the flexible packaging market is expected to expand considerably.
- Recycled packing of the paper provides an excellent cost-benefit in the manufacture of onboard and boxes and other flexible packaging solutions.
End-Use Industry - Segment Analysis
Food and
Beverage sector has been the primary market for Flexible Paper Packaging by
growing at a CAGR of 5.2%. The main asset of the food industry is paper
packaging. It is eco-friendly and increases customer convenience. Due to this,
there is significant competition in the food and beverage market among the
players who provide quality products to the consumers. Many retail stores use paper
packaging materials to preserve food and to retain the nutritional value of
foods. Growth will continue to trigger producers to expand their production
capacities, thereby rising product demand over a forecast period, for
paper packaged foods, including ready to meals, frozen meals, snacks, and
cake mix. The market is expected to grow
because of the increasing number of consumers buying food (including fried or
chilled foods).
Geography - Segment Analysis
North America dominated the Flexible
Paper Packaging Market share with more than 41.3%, followed by APAC and Europe.
Owing to the growing number of beverage manufacturers and the presence of key
players in the region, North America has the highest share. In the US and Canada,
paper and paperboard recovery has increased by 81% since 1990 and has reached
a recycling rate of 70% in the US and 80% in Canada. Regulations restricting
the Government of Mexico to the creation of new production units have led to
new production facilities like Takeda, Daiichi Ranbaxy, and Astellas being
built. Driving the domestic pharmaceutical industry along with favorable Government
policy has played a significant role, with demand for the product. In the U.S. consumers are preferring packaging which is
light and aesthetically appealing. This will increase the growth rate of the flexible
paper packaging industry over the forecast period.
Drivers – Flexible Paper Packaging Market
- Ban on lightweight plastic bags to improve paper packaging prospects
Paper packaging materials can be reused and recycled as compared to other materials such as metals and plastics. Paper packaging is, therefore, one of the most environmentally friendly and affordable packaging forms. The growing demand for flexible paper packaging due to increasing consumer awareness of the harmful environmental effects of plastics. In some countries, the ban on lightweight plastic bags is expected to drive the flexible paper packaging market throughout the forecast period.
Challenges – Flexible Paper Packaging Market
- Several Regulations
Paper packaging products are
subject to a variety of deforestation regulations. A regulatory environment
that is unfavorable is expected to impede growth and development. Furthermore,
environmental concerns are caused by the deforestation to acquire raw material
and dioxin release in paper production. These factors, in turn, are
hindering the growth of the flexible paper packaging market.
Market Landscape
Technology launches, acquisitions, and R&D
activities are key strategies adopted by players in the Flexible Paper
Packaging Market. In 2018, the market for Flexible Paper Packaging has been consolidated
by the top five players accounting for xx% of the share. Major players in the Flexible
Paper Packaging Market are Bemis, Sealed Air Corporation, Amcor, Mondi Group,
Sonoco Products Company, Wihuri, Coveris, LockandLock, Huhtamaki, Sabert,
Printpack, Visy Proprietary Limited, Tupperware, Silgan, Consolidated
Container, Reynolds, PakPlast, LI128AC Packaging, Dart Container, DandW Fine
Pack, Genpak, Bryce Corporation, among others.