Offering significant potential for brand owners, packaging converters and technology suppliers alike, the flexible packaging market continues to ramp up due to its wide array of advantages, and despite challenges to the environmental performance of the format.
According to MarketsandMarkets, the global flexible packaging industry is forecast to grow at an annual average rate of 4.5% over the next five years, achieving $200.5 billion by 2025. Witnessing significant growth across food, beverage, cosmetics and personal care products through to household and pharmaceutical products, flexible packaging continues its trajectory due to its light weight, durability, graphic impact, convenience and supply chain benefits. When combined with increasing consumer disposable income and the advent of omnichannel retailing, the flexible packaging market is set for a rosy future.