Flexible packaging has quickly become a popular choice among consumers and consumer goods producers due to its cost efficiency and convenience. However, lack of sustainability and low premium appeal are hindering the growth of the flexible packaging segment, signaling a need for manufacturers to invest in addressing these issues, according to research and consulting firm GlobalData.

The company’s report states that flexible packaging is one of the fastest-growing packaging sectors, driven by increased focus across all links of the supplier chain on convenience and value, and has grown with a compound annual growth rate of 3.3% between 2010 and 2015. This is forecast to reach 4.1% between 2015 and 2020.