Americas, Asia, and North Africa Flexible Packaging Market Analysis and Forecast by Size, Share, Growth, Trends 2031

The Americas, Asia, and North Africa flexible packaging market size was valued at US$ 149.87 billion in 2023 and is projected to reach US$ 238.52 billion by 2031; it is estimated to register a CAGR of 6.0% during 2023–2031. The growing retail sector through e-commerce in emerging countries is expected to become a key trend in the market.

Americas, Asia, and North Africa Flexible Packaging Market Analysis

The flexible packaging market in the Americas, Asia, and North Africa is driven by the increased production of food products, such as chili paste, harissa sauce, and fruits. These products are usually packed in flexible packaging solutions, including pouches, films, and other products, to extend the product's shelf life and avoid product contamination. In addition, the demand for packaged medicines in the region is witnessing a surge. For instance, according to the United Nations Industrial Development Organization, North Africa's increased consumer spending and expanding business operations are expected to drive the growth of the pharmaceutical industry at a CAGR of 5.13% from 2022 to 2027. The growing pharmaceutical industry contributes to the demand for flexible packaging for packaged medicines.

Americas, Asia, and North Africa Flexible Packaging Market Overview

Flexible packaging is used to produce various products, such as flexible pouches, sachets, wraps, and films. There is a high demand for flexible packaging in various end-use industries such as food, beverages, pharmaceuticals, personal care and cosmetics, and household. The rising demand for flexible packaging from these industries is an essential driver for the market growth. In 2023, Asia held the largest share of the market. The region has a rapidly growing population, particularly in countries such as China and India, which are experiencing increased urbanization. This drives demand for packaged food, beverages, and consumer goods, all of which require flexible packaging. The food and beverages industry in Asia is expanding significantly due to changing consumer lifestyles and preferences. With the rising disposable incomes, there is an increased demand for convenient and on-the-go food products, boosting the need for flexible packaging solutions.

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Americas, Asia, and North Africa Flexible Packaging Market: Strategic Insights

Americas, Asia, and North Africa Flexible Packaging Market

• Market Size 2023
  US$ 149.87 Billion
• Market Size 2031
  US$ 238.52 Billion

Market Dynamics

GROWTH DRIVERS

• Benefits of Flexible Packaging Solutions
• Increased Demand for Snacks and Convenience Foods and Beverages

FUTURE TRENDS

• Growing Retail Sector Through E-Commerce in Emerging Countries

OPPORTUNITIES

• Increasing Use of Flexible Packaging in Building Materials, Furniture, and Other Household Items

Regional Overview

• Americas
• Asia
• North Africa

Market Segmentation

Type

• Paper
• Plastic

Packaging Type

• Pouches
• Rollstock
• Bags
• Films and Wraps

End Use [Food,

• Dairy Products
• Fruits and Vegetables
• Meat Poultry and Seafood
• Bakery and Confectionery
• RTE Foods
• Others
• Beverages
• Pharmaceutical
• Personal Care and Cosmetics
• Homecare Products

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Americas, Asia, and North Africa Flexible Packaging Market Drivers and Opportunities

Increased Demand for Snacks and Convenience Foods and Beverages

The on-the-go snacking and convenience food and beverage products are witnessing a surge in demand due to the busy schedules of consumers. Consumers prefer healthy snacking options attributed to the rising health awareness. According to the data by Hartman Group, as of 2022, 52% of millennials replaced a meal with a snack. Various snacking products such as chocolates, nutrition bars, and others are packed using flexible packaging solutions. These packaging solutions are produced in various shapes, materials, and sizes. Formed packaging solutions are pre-shaped with the option of sealing and filling at home, while unformed packaging solutions usually come on a roll, which is sent to co-packers for filling and sealing. The raw materials used in flexible packaging are easy to mold and combine into innovative and customizable styles, such as pouches, sachets, printed roll stocks, and stock bags.

The increased demand for convenience food products drives the requirement for flexible and disposable packaging that protects various snacks and other food products from external environmental conditions such as oxygen, moisture, and extreme temperatures. In addition, the growing number of working professionals propels the demand for convenience food products such as ready-to-eat and frozen food. Furthermore, the microwaveable feature of the flexible packaging increases the convenience of the consumers and enhances customer experience. Such innovative features are expected to propel the demand for flexible packaging for snacks and convenience food and beverages over the forecast period.

Increasing Use of Flexible Packaging in Building Materials, Furniture, and Other Household Items

Flexible packaging solutions are made of flexible or easily moldable materials that readily change shape when closed or filled according to the product. They are widely used in industrial applications and building materials to protect, market, and distribute various products. Thus, the growing building material sector in various economies across the globe is expected to offer growth opportunities for the flexible packaging market.

Flexible packaging solutions such as water-activated tapes, heavy-duty corrugated boxes, bubble wrap and foams, poly furniture covers, and stretch wraps protect furniture and other household products and help maintain product quality. Extra protection in logistics operations and warehousing needs to be maintained for these products. Manufacturers rely on flexible protective packaging in the warehousing and distribution of furniture and household items. Various household items, such as glass and ceramic products, require extra protection during transit that protects products' quality in the event of powerful collisions and vibrations. Hence, the increasing demand for furniture and household products creates a massive requirement for flexible packaging solutions.

Americas, Asia, and North Africa Flexible Packaging Market Report Segmentation Analysis

Key segments that contributed to the derivation of the Americas, Asia, and North Africa flexible packaging market analysis are type, packaging type, and end use.

• Based on type, the market is segmented into paper and plastic. The paper segment held a larger market share in 2023.
• In terms of packaging type, the market is segmented into pouches, rollstock, bags, films and wraps, and others. The bags segment held a significant share of the market in 2023.
• Based on end use, the market is segmented into food (dairy products, fruits and vegetables, meat, poultry, and seafood, bakery and confectionery, RTE foods, and others), beverages, pharmaceutical, personal care and cosmetics, homecare products, and others. The food segment held the largest market share in 2023.

Americas, Asia, and North Africa Flexible Packaging Market Share Analysis by Geography

The geographic scope of the Americas, Asia, and North Africa Flexible Packaging market report is mainly divided into: Americas, Asia, and North Africa.

Asia is expected to grow at the fastest CAGR during 2023-2031. India is among the largest contributors to the region. The flexible packaging market in India is driven by the increased demand from personal care and pharmaceutical industries. The increased disposable income of consumers boosts the demand for various personal care and cosmetic products. Flexible pouches and rollstock are widely used to pack creams and gels to avoid product spoilage from extreme temperatures. Moreover, the growing pharmaceutical industry contributes to the flexible packaging market growth in India. According to Invest India, India mainly produces BCG, DPT, measles vaccines, and other pharmaceutical drugs to export to other regions and countries such as Africa, the US, and the UK. The increase in the production of pharmaceutical products drives the need for flexible packaging solutions in the country.

Americas, Asia, and North Africa Flexible Packaging Market Report Scope

Americas, Asia, and North Africa Flexible Packaging Market News and Recent Developments

The Americas, Asia, and North Africa flexible packaging market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A recent key development in the Americas, Asia, and North Africa flexible packaging market is mentioned below:

• Mondi plc announced the acquisition of the industrial bags and kraft paper business of Graphic Packaging International in the US. This enables the company to strengthen its packaging business in the US market. (Source: Mondi plc, Company Website, June 2024)

Americas, Asia, and North Africa Flexible Packaging Market Report Coverage and Deliverables

The "Americas, Asia, and North Africa Flexible Packaging Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:

• Americas, Asia, and North Africa flexible packaging market size and forecast at regional and country levels for all the key market segments covered under the scope
• Americas, Asia, and North Africa flexible packaging market trends, as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed Porter's Five Forces and SWOT analysis
• Americas, Asia, and North Africa Flexible Packaging market analysis covering key market trends, regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the Americas, Asia, and North Africa flexible packaging market
• Detailed company profiles