According to the new market research report "Flexible Packaging Market by Packaging Type (Pouches, Bags, Roll Stock, Films & Wraps), Printing Technology (Flexography, Rotogravure, Digital Printing), End-user Industry, Material (Paper, Plastic, Metal) and Region - Global Forecast to 2027", is approximated to be USD 248.9 billion in 2022, and it is projected to reach USD 315.5 billion by 2027, at a CAGR of 4.8%.
The growing demand of consumer for packaged, processed food and beverages items such as meat, snacks, namkeen (Southeast Asian snacks), milk, yogurt, coffee, tea, ketchup, biscuits, and other food items, rising urbanization, changing lifestyles, rising disposable income, rising trends towards sustainable packaging, increasing awareness towards hygiene across the globe are boosting the growth of flexible packaging market. However, the high cost of raw materials which are required for making flexible packaging products such as pouches, bags, roll stock, films & wraps, and others, and poor recycling infrastructure are the factors expected to clog the market of flexible packaging. Opportunities in the flexible packaging market are the growing demand for sustainable packaging and better substitute for traditional packaging materials because of increasing awareness about hygiene. Moreover, rapid changes in technology are the major challenge for the flexible packaging market.
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