The global flexible packaging market was valued at $68.5 billion in 2021, and is projected to reach $102.8 billion by 2031, growing at a Compound Annual Growth Rate of 4.2 percent from 2022 to 2031, according to a new report.
“The high demand for flexible packaging from food and beverages industry owing to change in lifestyles as well as increased consumer awareness regarding health and hygiene, particularly in emerging economies such as China and India, will fuel the market growth during the forecast period,” said Eswara Prasad, Manager, chemical and materials, Allied Market Research, the company that produced the report. “Moreover, the demand for flexible packaging is growing faster due to growing trends like e-commerce, digital printing, and sustainability, which is anticipated to boost the market growth.”
The market for flexible packaging is experiencing growth due to the rise in demand for snack and convenience foods in single-serving or small-serving sizes, according to the report.
