Comparing 21 vendors in Flexible Packaging across 96 criteria.
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Flexible packaging is any package or any part of a package whose shape can be readily changed. It is a means of packaging products through the use of non-rigid materials. Some of the most common examples of flexible packaging include bags, pouches, shrink films, tubes, and sleeves.
The Flexible Packaging Companies Quadrant is a comprehensive industry analysis that provides valuable insights into the global market for Flexible Packaging. This quadrant offers a detailed evaluation of key market players, technological advancements, product innovations, and emerging trends shaping the industry. MarketsandMarkets 360 Quadrants evaluated over 100 companies of which the Top 21 Flexible Packaging Companies were categorized and recognized as the quadrant leaders.
The 360 Quadrant efficiently maps the Flexible Packaging companies based on criteria such as revenue, geographic presence, growth strategies, investments, channels of demand, and sales strategies for the market presence of the flexible packaging quadrant. While the top criteria for product footprint evaluation included Flexible Packaging Market by Packaging Type (Pouches, Bags, Roll Stock, Films & Wraps, Others), Printing Technology (Flexography, Rotogravure, Digital Printing, Others), Material (Paper, Plastic, Metal), End-Use Industry (Food, Beverages, Pharmaceuticals & Healthcare, Personal Care & Cosmetics, Others), and Sustainable Initiatives.
Key trends highlighted in 360 Quadrants:
- The global Flexible Packaging Market was valued at USD 248.9 billion in 2022 and is projected to reach USD 315.5 billion by 2027 growing at a CAGR of 4.8% from 2022 to 2027.
- Based on material type, the plastic segment accounted for the largest share (nearly 64%) of the flexible packaging market in 2022. The paper material segment is expected to grow due to rising demand for environmental sustainability and stringent governmental norms against the use of plastics. Flexible packaging companies are therefore constantly innovating and are offering high-quality solutions pertaining to such norms.
- In terms of packaging type, pouches are witnessing an increase in demand due to their superior properties, such as their versatile nature, low weight, and easy transportability. In 2022, this segment accounted for the largest share (nearly 30%) of the flexible packaging market in terms of value. This is further projected to rise at a CAGR of 6% between 2022 and 2027.
- Flexible packaging companies incorporate various types of printing technologies such as flexography, rotogravure, digital printing, and others. Digital printing has been the fastest-growing market, accounting for 45% of the flexible packaging market, followed by rotogravure with a 20% share.
- The growth of the flexible packaging market is attributed to the increase in demand for lightweight, convenient, cost-effective packaging products and solutions for pharmaceutical, personal care, and food & beverage applications.
- Factors such as the growing convenience food industry, constantly changing demographics, and rapid industrialization in emerging economies like China and India are the prime reasons for the growth of the flexible packaging market in the Asia Pacific region. In 2022, this region dominated the flexible packaging market, accounting for nearly 49% in terms of value.
- Flexible packaging companies like Berry Global, Amcor, Mondi, Sonoco, Sealed Air, TC Transcontinental, and Constantia Flexibles are the key market players and have undertaken various development strategies pertaining to the flexible packaging market, where the cumulative share of these top five flexible packaging companies was between 18 to 25% of the total market in 2022. Expansions and acquisitions are further expected to offer lucrative opportunities to key flexible packaging companies.
- Leading flexible packaging companies adopted new product launches as the key growth strategy, along with partnerships and acquisitions. In September 2022, Berry Global collaborated with Mars, Inc. to launch its popular pantry-sized treats in polyethylene terephthalate (PET) jars that have been optimized to be lighter weight and include 15% post-consumer resin (PCR). Another company, Amcor Ltd. closed the acquisition of a world-class flexible packaging plant located in the Czech Republic in August 2022. The acquisition was aimed at accelerating the organic growth momentum of its flexible business in Europe in attractive segments.
- Other leading flexible packaging companies such as Sonoco, Huhtamaki, and others have also been actively involved in strategic growth activities in order to strengthen their footprint in the market. For instance, in September 2022, Huhtamaki invested in the sustainable packaging fund run by Emerald Technology Ventures AG, which focuses on cutting-edge sustainable packaging technologies. During the same period, Sonoco acquired S.P. Holding, Skjern A/S. The acquisition expands production capacity for customers and Sonoco converting operations throughout Europe and bordering regions.
- Rising urbanization and hectic work schedules are also factors that are responsible for the increasing demand for flexible packs. Flexible packaging companies are now offering options with several superior characteristics such as lightweight, customization, excellent adjustability, extended shelf life of the products, and others. Such factors reduce the overall cost of flexible packaging when compared to conventional packaging options.
- With the rising pollution and stringent governmental norms, flexible packaging companies are inclining towards adopting market trends. Some of the potential trends that might dominate the market in the near future include the usage of recyclable materials, lightweight materials, smart packaging, and the adoption of biodegradable materials. Flexible packaging companies are now rigorously putting efforts into exploring and innovating products based on these trends.
- Flexible packaging companies are now putting a lot of effort into finding ways to lower their carbon footprint due to rising concerns about their environmental impact. Currently, these flexible packaging manufacturers are focusing on providing sustainable packaging solutions to consumers by optimizing the packaging materials and using the right packaging materials in order to make things smaller and lighter, thereby reducing transportation needs.
The Full List
|Company||Headquarters||Year Founded||Holding Type|
|Berry Global||Evansville, USA||1967||Public|
|Constantia Flexibles||Vienna, Austria||2004||Private|
|Cosmo First||New Delhi, India||1976||Public|
|DS Smith||London, UK||1940||Public|
|Novus||Cape Town, South Africa||2008||Public|
|PPC Flexible Packaging||Buffalo Grove, USA||1968||Private|
|Sealed Air||Charlotte, USA||1960||Public|
|TC Transcontinental||Montreal, Canada||1976||Public|