ASEAN Flexible Packaging Market Trends

Growth Drivers

Booming Demand for Ready-to-Eat Meals - In 2020, more than 35% of American population was anticipated to be consuming ready-to-eat meals. The global population is becoming more inclined to purchase ready-to-eat meal since it takes less time and effort to be prepared. Ready-to-eat meal is prepared in way so the health properties of the food can remain for a longer period. Packaging of such type of food becomes important because it can help in preserving the nutrition and taste of the food. Hence such a higher demand is anticipated to accelerate the growth of the market over the forecast period.

Growing Production of Polyethylene to Boost the Market Growth- As of 2019, the gross production of the polyethylene was estimated to be around 20,000 metric tons solely in the USA.
Increasing Utilization of Nylon - For instance, approximately 550,000 metric tons of nylon were produced in 2019.
Higher Demand for Flexible Packaging in Cosmetics Industry- It is observed that in 2022, the cosmetics segment across the globe projected to generate a total revenue of USD 5.50 billion.

Challenges

Increment in the Solid Waste Produced by Packaging Materials
Presence of the Alternatives in the Market
Disrupted Supply-Chain due to COVID-19

ASEAN Flexible Packaging Market: Key Insights

Base Year	2022
Forecast Year	2023-2033
CAGR	~5%
Base Year Market Size (2022)	~USD 6000 Million
Forecast Year Market Size (2033)	~USD 12000 Million
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

Frequently Asked Questions (FAQ)

Higher demand for flexible packaging in cosmetics industry is estimated to majorly boost the market growth.

The market is anticipated to attain a CAGR of 5% over the forecast period, i.e., 2023-2033.

Increment in the solid waste produced by packaging materials is estimated to challenge the market growth.

The market in North America region is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

The major players in the market are Amcor Limited, Prepack Thailand Co., Ltd., Constantia Flexibles Group GmbH, Berry Global Inc., Sonoco Products Company, Mondi plc, Sealed Air Corporation, Ardagh Group S.A., and others.

The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue-generating capacity as well as the new products being launched into the market by the company.

The market is segmented by type, layer, material, and by region.

The bags segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.

ASEAN Flexible Packaging Market Trends