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In Depth Research Report by Future Market Insights, Inc.

The demand for flexible plastic packaging in the United States is experiencing a significant surge, particularly within the food and beverage sector, constituting an impressive 90% of total packaging utilization. According to data from Perfect Packaging, referenced by The Flexible Packaging Association (FPA), approximately 19% of all packaging materials in the United States are comprised of flexible packaging solutions.

NEWARK, Del, Feb. 15, 2024 (GLOBE NEWSWIRE) — The flexible plastic pouch market is poised for significant growth, with its size expected to increase from US$ 66.1 billion in 2024 to US$ 129 billion by 2034. Over the next decade, a moderate 6.9% CAGR in the demand for flexible plastic pouches is projected to drive the expansion, which had seen a CAGR of 8.0% between 2019 and 2023.

The increasing demand for convenient and lightweight packaging solutions is a significant driver. Consumers prefer products that are easy to carry and store. This preference leads to a growing preference for flexible plastic pouches over traditional rigid packaging options.

The necessity for sustainable packaging solutions and the growing awareness of environmental issues are fueling the flexible plastic pouch market expansion. When compared to other packaging solutions, flexible plastic pouches are more ecologically friendly when made with recyclable materials or biodegradable components.

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Technological advancements in manufacturing processes also contribute to market expansion. Innovations make flexible plastic pouches increasingly attractive to both consumers and manufacturers. Improved barrier properties, enhanced printing techniques, and efficient production methods are a few of them.

The ability of flexible plastic pouches to hold a wide range of product types, sizes, and forms supports the expansion of the market. They can be used in numerous sectors, including food and beverage, medicines, and personal care. This versatility increases demand in multiple market niches.

Key Takeaways from the Flexible Plastic Pouch Market

  • The United States dominates the flexible plastic pouch industry with a projected 7.1% CAGR from 2024 to 2034, driven by rapid innovations in packaging technology and increasing consumer demand for convenient and portable packaging solutions.
  • China’s flexible plastic pouch industry is projected to follow closely, with an estimated 7.7% CAGR through 2034, attributed to a heightened focus on eCommerce and government initiatives promoting sustainable practices within the packaging industry.
  • The flexible plastic pouch market in the United Kingdom is likely to show a 7.8% CAGR between 2024 and 2034, influenced by increasing consumer preference for convenient on-the-go packaging and heightened awareness of environmental sustainability.
  • Japan’s flexible plastic pouch industry is projected to develop at an 8.1% CAGR through 2034, propelled by the country’s strong focus on technological innovation in the packaging sector and government initiatives to reduce environmental impact.
  • The South Korea flexible plastic pouch industry is likely to exhibit an 8.2% CAGR from 2024 to 2034, impacted by an expanding retail landscape, increasing consumer preference for convenience, and advancements in packaging technology.

The advent of plant-based polyethylene resin and paper in flexible pouch packaging is poised to revolutionize the market. Customer preferences for sustainable solutions are compatible with this eco-friendly movement, which is increasing product demand. By putting these advancements into practice, companies in the flexible plastic pouch market can take advantage of consumers’ inclination toward environmentally friendly solutions, leading to profitable expansion prospects.Says Ismail Sutaria, Principal Consultant, Packaging and Materials at Future Market Insights. 

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Key Players’ Strategies for Success in the Flexible Plastic Pouch Market

Here are some key strategies that players in the flexible plastic pouch industry employ for success:

  • Innovation in packaging design
  • Sustainable material sourcing
  • Efficient manufacturing processes
  • Strategic partnerships with suppliers
  • Targeted marketing to specific industries
  • Continuous product development
  • Adaptable production capabilities
  • Streamlined distribution networks
  • Customer-centric approach
  • Compliance with industry regulations

Recent Developments in the Flexible Plastic Pouch Market

  • In September 2020, Amcor and Nestlé announced that together they have created the first recyclable flexible retort pouch for consumer goods in history.
  • A standee spout pouch with a 21mm spout on top for spill-resistant tea pouring was introduced by UFlex in December 2021. The pouch is constructed from BON and special grade PE.

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Key Segments in the Flexible Plastic Pouch Market Report

By Product Type:

  • Bags and Pouches
  • Wraps and Rolls
  • Boxes and Cartons
  • Sachets and Envelopes
  • Others

By End Use:

  • Food and Beverage
  • Retail and Consumer Goods
  • Pharmaceuticals and Healthcare
  • Personal Care
  • eCommerce
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa (MEA)

Authored By

Ismail Sutaria (Principal Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power. 

Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics. 

Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.

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In 2023, the global Flexible Plastic Packaging Market is anticipated to reach a valuation of US$ 108.3 billion, with a projected increase to US$ 171.6 billion by 2033. This growth trajectory reflects a substantial compound annual growth rate (CAGR) of 4.7% throughout the forecast period, highlighting the expanding demand and widespread adoption of flexible plastic packaging solutions across various industries.

The Flexible plastic packaging in the United States market is estimated to be worth US$ 34,937.9 million in 2023, with projections indicating a rise to US$ 45,161.7 million by 2033. Anticipated to expand at a compound annual growth rate (CAGR) of 2.6% between 2023 and 2033, these figures underscore the steady growth and enduring demand for flexible plastic packaging solutions in the country.

At the conclusion of 2022, revenue from flexible plastic packaging in Europe amounted to US$ 12.2 billion, with an anticipated year-on-year growth of 3.8% in 2023. The targeted industry is expected to expand 1.4 times its current size by 2033. By the year 2033, it is projected that the Europe plastic packaging business will achieve a significant milestone, reaching a market size of US$ 17.7 billion.

As per recent findings from Future Market Insights, the flexible plastic drinking pouch market is poised to experience a growth rate of 4.5% from the year 2021 to 2031.

The flexible packaging paper market is poised to grow at an estimated CAGR of 4% during 2022-2032, with the Market Value in 2020 is US$ 48 Billion.

Based on research conducted by Future Market Insights, the global converted flexible packaging market is forecasted to attain a valuation of US$ 302.5 billion in 2023. Subsequently, it is expected to grow at a compound annual growth rate (CAGR) of 4.7%, reaching US$ 478.9 billion by the year 2033.

As of 2023, the global bakery flexible packaging market is valued at approximately US$ 7.8 billion, with a projected compound annual growth rate (CAGR) of 4.4%. With notable advancements in packaging technology, this market is expected to exceed a valuation of US$ 12 billion by the year 2033.

The multilayer flexible packaging market is poised to reach a value of US$ 170.5 billion in 2023. With a projected compound annual growth rate (CAGR) of 4% from 2023 to 2033, this market is expected to expand significantly, reaching a valuation of US$ 252.4 billion by the year 2033.

The global flexible containers market is projected to achieve a market value of US$ 6.1 billion by 2023. With a forecasted compound annual growth rate (CAGR) of 6.5% during the period from 2023 to 2033, the market is anticipated to expand notably, reaching a market valuation of US$ 11.5 billion by the end of the forecast period.

The global flexible thin film market is poised to reach a market value of US$ 12.8 billion by 2023. With a projected compound annual growth rate (CAGR) of 6.8% from 2023 to 2033, this market is anticipated to witness significant expansion, ultimately recording a market valuation of US$ 24.9 billion by the end of the forecast period.

The sustainable packaging market is on track to reach a significant valuation of US$ 285.3 billion by the year 2024. With a projected Compound Annual Growth Rate (CAGR) of 5.8% over the forecast period, demand for sustainable packaging solutions is expected to witness robust growth. Looking towards the future, this upward trajectory is anticipated to continue, with the market surpassing US$ 490.5 billion by the year 2034.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Originally published at https://www.einpresswire.com/article/688846661/flexible-plastic-pouch-market-valuation-targeting-us-129-billion-by-2034-in-depth-research-report-by-future-market-insights-inc

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