From GlobeNewswire: 2024-05-22 12:30:00

The global Flexible Plastic Packaging Market is set to reach a value of around USD 293.7 Billion by 2033, showing a compound annual growth rate (CAGR) of about 5.1% during the forecast period. Flexible plastic packaging offers benefits like thinness, affordability, longevity, and the ability to extend product shelf life through sealing characteristics. The move towards more recyclable and sustainable packaging represents a global commitment to combating plastic pollution and developing a circular economy for packaging materials.

The pouches segment held the highest market share in 2023 and is expected to maintain dominance through 2033. Vacuum skin packaging is also on the rise due to growing customer demand for eco-friendly options. The food & beverages segment is the highest in terms of market share and is expected to continue its dominance, fueled by customer requests for convenient and environmentally friendly packaging options. The Asia-Pacific region is leading the flexible plastic packaging market with technological advancements, increased urbanization, and growing demand for compact packaging solutions.

The Asia-Pacific region dominated the global Flexible Plastic Packaging Market in 2023, with a market share of 38.6%, and is expected to maintain its lead through 2033. The surge in demand for packaged goods due to rapid development in the region, coupled with the expanding middle-class population, is driving the growth of the market. The Asia-Pacific marketplace is also expanding due to technological advancements and improvements in packaging materials and processes to meet changing customer demands for sustainability and simplicity.



Read more at GlobeNewswire: [Latest] Global Flexible Plastic Packaging Market