Top 11 Flexible Plastic Packaging Companies, Worldwide 2024: MarketsandMarkets 360 Quadrant Revealed

MarketsandMarkets has released 360 Quadrant for Top 11 Flexible Plastic Packaging Companies, Worldwide 2024 to help businesses make quicker and more informed decisions. Companies' market presence and product footprint are used to build quadrants, which will be revised annually.

The global flexible plastic packaging market was valued at USD 182.4 billion in 2022 and is projected to reach USD 264.9 billion by 2030, growing at a CAGR of 4.8% from 2022 to 2030. The flexible plastic packaging market is poised for substantial growth in the upcoming years, primarily driven by the surging demand for packaged food and beverages, the flourishing e-commerce sector, and advancements in packaging technology. The market is witnessing a boost from the escalating need for lightweight, convenient, and cost-effective packaging solutions across pharmaceutical, personal care, and food & beverage applications. The rise in online orders for daily staples and fresh food is further fueling the demand for flexible plastic packaging.

Key factors propelling the market include the drive to reduce packaging material usage, cost-effectiveness leading to increased shelf life, heightened demand from various end-use sectors, and the upward trajectory of e-commerce sales. However, barriers such as stringent government regulations and inadequate recycling infrastructure pose challenges to market growth. Environmental concerns associated with plastic packaging and the tightening regulations on single-use plastics also present significant hurdles for the industry. To address these challenges, many companies are actively working on developing sustainable and eco-friendly solutions in the field of flexible plastic packaging. Initiatives include the creation of biodegradable and compostable materials, as well as a growing trend towards incorporating recycled materials into the production process. This strategic focus reflects the industry's commitment to navigating the evolving landscape and meeting the demands for more environmentally responsible packaging solutions.

Access Research Report @ https://360quadrants.com/packaging-and-construction/flexible-plastic-packaging-market

Unveiling the Market Leaders: Honoring Excellence in Flexible Plastic Packaging Markets 

• Amcor was identified as the market leader in the 360 Quadrant, accounting for the largest share of the market in 2023. Amcor is a global leader in developing and producing responsible packaging for a variety of products, specializing in lightweight, versatile and cost-effective flexible plastic packaging like pouches, bags, wrappers and films made from materials like polyethylene, polypropylene and PET/polyester. As one of the world's largest producers of flexible plastics used for packaging everything from fresh produce to medical devices, sustainability is a priority for Amcor, with innovations around recyclable and renewable materials, use of post-consumer recycled content, and reducing carbon footprint across operations. Amcor aims to develop packaging that protects products, consumers and the environment, through solutions like lightweighting, extended shelf life and recyclable designs, and has pledged to make all packaging recyclable or reusable by 2025 while working closely with partners to improve flexible plastic recycling infrastructure and processing globally.

• Berry Global is another prominent entity in the flexible plastic packaging market that has established a robust presence and earned a reputation for excellence over the years. The company specializes in engineered materials and nonwoven specialty materials for a variety of consumer packaging products ranging from plastic bags, pouches, labels, wraps, tapes, and films. As one of the world’s leading providers of innovative and sustainable flexible plastic packaging solutions, Berry Global operates worldwide with a focus on developing high-performance, cost-effective, and environmentally-friendly products made from polyethylene, polypropylene and other resins. The company aims to provide customers with solutions across the plastic packaging value chain while improving environmental impacts through efforts such as increasing use of recycled materials, reducing water and energy consumption in operations, and creating more lightweight and recyclable packaging. Berry Global’s expertise and innovative products for flexible plastic packaging help customers across end markets like consumer goods, food and beverage, and healthcare.

• Mondi is an integrated packaging and paper group that offers a broad range of flexible plastic-based packaging like pouches, bags, films, and wrapping, primarily made from polyethylene, polypropylene, PET and other materials that aim to be sustainable and eco-friendly. As a leading producer of paper and flexible plastic packaging for consumer goods, industrial, and food service markets, Mondi has broad expertise across diverse value chains and converters. Mondi is committed to responsible production focusing on circular-driven solutions, aiming to develop 100% reusable, recyclable or compostable plastic packaging by 2025. With several production sites across more than 30 countries, its tailored flexible plastic packaging solutions help leading brands and retailers to optimize shelf appeal, extend shelf life, and customize barrier properties while aiming to reduce environmental impacts from material sourcing, lightweighting, reusability, and end-of-life options. Their expertise and stewardship help drive progress in innovative flexible packaging.

Categorization Of Flexible Plastic Packaging Companies On 360 Quadrants

Flexible Plastic Packaging companies’ evaluation was conducted over 60 companies, of which the top 11 were categorized and placed in a quadrant under Market Leaders, Contenders, Innovators, and Emerging Companies.

Positioned in the upper-right quadrant, Market Leaders exemplify a combination of an expansive product offering and a formidable market presence. These organizations not only deliver comprehensive solutions but also boast a well-established and influential position in the market. Market Leaders are recognized for their reliability, consistent innovation, and widespread acceptance among customers. Their dominance in both product capabilities and market influence solidifies their status as leaders in their respective industries. These companies include Amcor, Berry Global, and Mondi.

CCL Industries has been recognized as the contender. Nestled in the upper-left quadrant, Contenders possess a substantial market presence but may encounter challenges in terms of product innovation or differentiation. These companies have already secured a notable customer base and market recognition, positioning them as contenders. While their current offerings are competitive, Contenders have the potential to evolve and enhance their product capabilities to become more visionary and competitive in the future.

Situated in the lower-right quadrant, Innovators are distinguished by their exceptional product innovation and uniqueness. While they may not match the market presence of Market Leaders, Innovators challenge industry norms by introducing cutting-edge solutions. These companies push industry boundaries with forward-thinking approaches and have the potential to become major players despite lower corporate growth strategies. Sonoco, Huhtamaki, Sealed Air, Constantia Flexibles, Coveris, and TC Transcontinental have been identified as the innovators in the quadrant.

Residing in the lower-left quadrant, Emerging Companies showcase a promising product footprint but are in the early stages of establishing their market presence. These companies may excel in specific niche areas or offer unique features that differentiate them, but their impact on the overall market is still evolving. Emerging Companies are considered niche players with significant growth potential as they expand their reach and recognition in the market. This segment of the quadrant has identified Printpack as an emerging company.

Evaluation Criteria

The vendor evaluation was conducted on over 60 companies of which the top 11 were categorized and recognized as the quadrant leaders. Factors such as revenue, geographic presence, growth strategies, investments, channels of demand, and sales strategies for the market presence of the Flexible Plastic Packaging quadrant. While the top criteria for product footprint evaluation included Product Type, Sustainable Initiatives, Product Features and Functionality, Product Applications, Product Industry Verticals, Packaging Type (Pouches, Bags, Roll Stock, Films & Wraps, Others), Printing Technologies (Flexography, Rotogravure, Digital Printing, Others), and Material (Paper, Plastic, Metal).

Request Your Free Marketing Kit @ https://360quadrants.com/packaging-and-construction/flexible-plastic-packaging-market

360 Quadrants Scoring Methodology

360 Quadrants employs a comprehensive and transparent scoring methodology to evaluate companies. It identifies relevant evaluation criteria, collects and validates data from multiple sources, and employs an algorithm that considers parameter weights to generate scores. Normalization ensures fair comparisons and the aggregated scores categorize solutions into quadrants such as Market Leaders, Contenders, Innovators, and Emerging Companies. This unbiased approach equips users with accurate information, empowering them to make well-informed decisions and select solutions that best suit their needs and objectives.

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research and facilitates analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

360 Quadrants will also be launching 100 quadrants in Chemicals and Materials, Packaging, Energy & Power, and Healthcare.

Visit https://www.360quadrants.com to access our interactive quadrants.

For media inquiries, please contact:

Mr. Agney Sugla

MarketsandMarkets™ INC.

630 Dundee Road, Suite 430

Northbrook, IL 60062

USA: +1-888-600-6441

Email: [email protected]