The Future of Flexible Packaging to 2024
Over the last 10 years, flexible packaging has taken off, doubling in size to $228 billion in 2019. In Smithers latest market report The Future of Flexible Packaging to 2024 forecasts that it will continue growing by an annual rate of 3.3%, reaching $269 billion in 2024.
Global urbanisation has increased the demand for flexible packaging along with e-commence and technological advancements in barrier protection, active packaging and digital printing. At the same time, sustainability is also a major concern for the market.
Flexible packaging is replacing more traditional packaging, such as glass jars and metal cans, more and more each year as its benefits are acknowledged. These benefits include extended shelf life, improved cost economics, lower pack weights and lower transport costs. Use of flexible packaging can minimise transport costs at all levels, thanks to the lower pack weight and the ability to compress the packaging into small transport volumes. Flexible packaging also allows improved cost economics due to requiring less energy and resources than other packaging types, which means that the cost of production per packaging unit is less.
The market report identifies the key drivers and trends for the flexible packaging industry including areas such as:
The Future of Flexible Packaging to 2024 analyses and quantifies the current and future market trends for all key materials, end-use applications, pack formats and national and regional geographic markets. The report explains and examines key market drivers and trends 2019–24 and quantifies current and forecast markets for flexible packaging.
Notes for Editors
The Future of Flexible Packaging to 2024 is available to purchase. For more inforamation download the report brochure.
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