Flexible Packaging Market to get a Bigger Boost; Thanks to the Recycling Initiatives

Over time, consumer preferences for effective packaging solutions have changed dramatically. Flexible packaging has been a critical preference in electronics, food and beverage, and retail industries. Flexible packaging is a combination of the best qualities of plastics and films. Flexible packaging is a cost-effective solution for functional applications that require minimal manufacturing costs.

According to Market.us,” The flexible packaging market size is predicted to be worth around USD 4.13 Billion by 2032 from USD 2.22 Billion in 2021, with a CAGR of 5.8% during the forecast period from 2022 to 2032.”

Market.us research team quoted,” The demand for bio-based PLA film in food, confectionery, bakery, and snack packaging is expected to grow over the next seven years. This need is due to its easy recyclability as well as its biodegradable nature. Due to strict policies, flexible plastic packaging is widely used in the food and beverage and pharmaceutical industries, especially in North America and Europe.”

They further added,” In 2021, the Asia Pacific region accounted for 37.1% of the revenue share, making it the largest regional market. India’s and China’s vibrant food, beverage, and retail sectors can explain the growing market. Flexible packaging will be in high demand because of rising disposable income and increased demand for packaged food.”

Flexible packaging products like bake-in-the-tray, boil-in-the-bag, mix-in-the-pouch, and bake-in-the-carton are some of the most famous examples. They offer convenience and provide the type of convenience that consumers want. The high number of working-class professionals is expected to contribute to the growth of flexible packaging over the forecast period. This is due to the country’s elevated market penetration of ready-to-eat meals.

Flexible packaging sales were affected by a sharp drop in personal care and electronics product sales and disruptions to supply chains. This was in early 2020. The lockdown in China had a significant impact on the global packaging industry. This is because China is a major supplier of raw materials. But, the consumption of packaged food products increased significantly. Many people choose packaged food products such as ready-to-cook, ready-to-eat, and packaged food ingredients. This strong demand helped to mitigate COVID-19’s negative impact on global markets.

Flexible packaging protects products is essential to society. But there are particular challenges manufacturing companies need to overcome. Global supply chains must adapt to rapid demand, and flexible packaging can be crucial in delivering safe and affordable products to consumers. Globally, 70% of paper is recycled, 50% to 80% of glass, and 30-90% of metal, while only 15% of plastic packaging is recycled. Hence, this industry’s main aim is maximizing material efficiency and recyclability.

UFlex- India’s largest multinational international packaging agency, Flex Films, displayed its products at PACK EXPO International. Flex Films, a leading manufacturer of high-value packaging films, had set up an exclusive booth at PACK EXPO International that included a demonstration of its global recycling facilities in India and Mexico. This demonstration was part of a more significant effort to highlight global recycling.

On 14th October 2022, in Ahemdabad Kamashki Sudpack, a joint venture commissioned its new and advanced plant for flexible packaging. Sudpack’s globalization strategy includes the new site as an essential component. It is also a strategic hub to accelerate the development of the Indian subcontinent market and to meet the demand for flexible films of high quality in diverse industries.

In September 2022, the 9th edition of Speciality Films and Flexible Packaging Global Summit took place in Mumbai, India. This summit offered practical and innovative insight into the role and potential of private equity in mergers and acquisitions. The highlights of this summit were the pandemic and its effects on the market situation, as well as the enormous growth taking place in Asia, South Asia, and India. The summit also covered the Indian economic landscape.

Amp Robotics Corp. is developing an automated system powered by artificial intelligence (AI). It claims it will help material recovery plants (MRFs) avoid film contamination while sorting film and flexible packaging. Vortex is being developed by Amp to recover and target film and flexible packaging for baling. This is in response to significant brands’ commitments to use more recycled content in their products. Governments are encouraging and implementing laws that increase the use of post-consumer resins in plastic products and packaging.

Market.us concludes with,” With the help of the latest technological innovation for more efficient, profitable recycling operations, manufacturers must aim to address the plastic waste crisis and divert millions of tons of recoverable material from landfills annually. By 2030, we hope to see the flexible packaging value chain entirely transformed, achieving true circularity and carbon efficiency and bringing a net positive impact to the global food chain.