APAC Flexible Packaging Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Asia-Pacific Flexible Packaging Companies and the market is segmented by Type (Pouches, Bags, Wraps, Other Types), Material (Plastic, Paper, Aluminum/Composites), Product Type (Pouches, Bags, Wraps), End-User Industry (Food, Beverages, Pharmaceutical and Medical, Household and Personal Care, Other End-user Verticals), and Country. The market sizes and values are provided in terms of value (USD million) for all the above segments.

APAC Flexible Packaging Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

APAC Flexible Packaging Market Size

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Asia Pacific Flexible Packaging Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 2.76 %
Market Concentration Medium

Major Players

Asia Pacific Flexible Packaging Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of APAC Flexible Packaging Market with other markets in Packaging Industry

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APAC Flexible Packaging Market Analysis

The Asia Pacific Flexible Packaging Market is anticipated to grow with a CAGR of 2.76% during the forecast period. Flexible packaging across the Asia-Pacific region is expected to witness a stable growth rate for the forecast period. Some of the prominent vendors in the region are driving their focus toward the ever-growing concern regarding environmental sustainability by adopting efficient manufacturing techniques throughout the three stages of the packaging life cycle - manufacturing, transportation, and disposal process. There has been impact of the Russia-Ukraine war on the overall packaging ecosystem.

  • The top R&D priority for packaging engineers across the region has constantly been developing the packaging product with lightweight material with thinner laminate structures without compromising upon the overall barrier, thereby maintaining its functional properties and required strength. Also, the increasing demand for geographically constrained food, which has a short shelf-life, has boosted the growth of new products, especially in the frozen food division, primarily realized through flexible packaging.
  • Also, there is a considerable increase in domestic demand for flexible packaging in the Asia Pacific, owing to the rapid urbanization across emerging economies, such as China and India. Healthy growth from end-users across the region is further driving the need for producing higher flexible packaging products, primarily among the wraps and pouches segment, majorly to address the small quantity retailing needs of the rising middle-class population in the region.
  • The demand for flexible packaging products is mainly driven by millennial consumers in the region, as they have an avid preference for single-serving and on-the-go style food and beverage products. As these products are generally designed to be portable, durable, and lightweight, flexible packaging stands to be a popular option for packing such products. The fastest-growing areas of snack foods, both in terms of fresh items and processed foods, are expected to govern the demand for flexible packaging from the food and beverage industry of the region.
  • Further, the beverage industry offers potential growth opportunities for flexible packaging across the region. Food companies are expanding their businesses in terms of geography and product lines to cater to this rising demand. For instance, Shou Quan Zhai, founded in 1760 and one of the oldest food companies in China, is expanding into the beverage market with a new line of ready-to-drink products.
  • With the outbreak of COVID-19, flexible packaging manufacturers have been flooded with a pool of issues that are expected to be only for the short -term. Some of the effects of the lockdown include lack of availability of raw materials used in the manufacturing process, supply chain disruptions, fluctuating prices, labor shortages that could cause shipping problems, production of the final product to inflate and go beyond budget, etc.
  • With the outbreak of COVID-19, flexible packaging manufacturers have been flooded with a pool of issues that are expected to be only for the short -term. Some of the effects of the lockdown include lack of availability of raw materials used in the manufacturing process, supply chain disruptions, fluctuating prices, labor shortages that could cause shipping problems, production of the final product to inflate and go beyond budget, etc.

APAC Flexible Packaging Industry Overview

The demand for flexible packaging is growing faster than in many other forms. It includes trends like e-commerce, digital printing, and sustainability that can be used to drive market development and growth. Customers are increasingly becoming more eager to pay extra for certain product attributes boosted by flexible packaging. Key Players in this Market are - Amcor PLC, Berry Global Inc., Mondi Group, Sonoco Products Company, etc.

In October 2022, Mondi and Reckitt introduced paper-based packaging for Finish dishwasher tabs. Once fully implemented, the new packaging would reduce plastic usage by 75% and eliminate more than 2,000 tonnes of plastic annually. Additionally, this action supports Reckitt's goal of halving the quantity of virgin plastic in its packaging by 2030.

In February 2022, By developing a brand-new reuse packaging concept, Henkel and Mondi, a worldwide pioneer in packaging and paper, are assisting consumers in dishwashing more responsibly. The two businesses collaborated on a packaging option to refill plastic bottles using flexible pouches for Henkel's hand dishwashing solutions. This helps Henkel achieve its sustainability goals of reducing virgin plastic made from fossil fuels by 50% by 2025 and making all its packaging recyclable or reusable.

APAC Flexible Packaging Market Leaders

  1. Amcor Ltd

  2. Berry Plastics Corporation

  3. Mondi Group

  4. Sonoco Products Company

  5. Rengo co. ltd

  6. *Disclaimer: Major Players sorted in no particular order
Asia Pacific Flexible Packaging Market Concentration
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APAC Flexible Packaging Market News

  • September 2022: Amcor, a key player in responsible packaging solutions development and production, announced a new strategic investment in ePac Flexible Packaging ("ePac"), a pioneer in high-quality, brief run length digitally-based flexible packaging of up to USD 45 million. Amcor will own more minority shares of ePac Holdings LLC due to the investment.
  • August 2022: Amcor, a leader in ethical packaging solutions, recently opened an innovation center in Jiangyin, China. The new center will bring cutting-edge packaging innovations and more environmentally friendly material science to the Asia Pacific, fostering regional prosperity and innovation.

APAC Flexible Packaging Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions and Market Definition
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET INSIGHTS

  • 4.1 Market Overview
  • 4.2 Industry Value Chain Analysis
  • 4.3 Industry Attractiveness - Porter Five Forces
    • 4.3.1 Threat of New Entrants
    • 4.3.2 Bargaining Power of Buyers
    • 4.3.3 Bargaining Power of Suppliers
    • 4.3.4 Threat of Substitute Products
    • 4.3.5 Intensity of Competitive Rivalry
  • 4.4 Assessment of the Impact of COVID-19 on the Market

5. MARKET DYNAMICS

  • 5.1 Market Drivers
    • 5.1.1 Increased Demand for Convenient Packaging
    • 5.1.2 Demand for Longer Shelf Life and Innovative Packaging
  • 5.2 Market Restraints
    • 5.2.1 Concerns about the Environment and Recycling of Packaging Material

6. MARKET SEGMENTATION

  • 6.1 By Type
    • 6.1.1 Pouches
    • 6.1.2 Bags
    • 6.1.3 Wraps
    • 6.1.4 Other Types
  • 6.2 By Material
    • 6.2.1 Plastic
    • 6.2.2 Paper
    • 6.2.3 Aluminum/Composites
  • 6.3 By End-User Vertical
    • 6.3.1 Food
    • 6.3.2 Beverages
    • 6.3.3 Pharmaceutical and Medical
    • 6.3.4 Household and Personal Care
    • 6.3.5 Other End-User Verticals
  • 6.4 By Country
    • 6.4.1 China
    • 6.4.2 India
    • 6.4.3 Japan
    • 6.4.4 Australia
    • 6.4.5 Rest of Asia Pacific

7. COMPETITIVE LANDSCAPE

  • 7.1 Company Profiles
    • 7.1.1 Amcor Ltd
    • 7.1.2 Chuan Peng Enterprise Co. Ltd
    • 7.1.3 Formosa Flexible Packaging Corp
    • 7.1.4 Wapo Corporation Ltd
    • 7.1.5 Berry Plastics Corporation
    • 7.1.6 Sealed Air Corporation
    • 7.1.7 Mondi Group
    • 7.1.8 Sonoco Products Company
    • 7.1.9 Rengo Co. Ltd
    • 7.1.10 TCPL Packaging Ltd
    • 7.1.11 Ester Industries Ltd (Wilemina Finance Corporation)
  • *List Not Exhaustive

8. INVESTMENT ANALYSIS

9. FUTURE OF THE MARKET

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APAC Flexible Packaging Industry Segmentation

Flexible packaging is mainly used for food, contributing to more than 60% of the total market, according to the Flexible Packaging Association. The flexible packaging industry is witnessing healthy growth, as the industry was able to implement innovative solutions for the many packaging challenges it faced.

The Asia Pacific Flexible Packaging Market is segmented by Type (Pouches, Bags, Wraps, Other Types), Material (Plastic, Paper, Aluminum/Composites), Product Type (Pouches, Bags, Wraps), End-User Industry (Food, Beverages, Pharmaceutical and Medical, Household and Personal Care, Other End-user Verticals), and Country. The market sizes and values are provided in terms of value (USD million) for all the above segments.

By Type Pouches
Bags
Wraps
Other Types
By Material Plastic
Paper
Aluminum/Composites
By End-User Vertical Food
Beverages
Pharmaceutical and Medical
Household and Personal Care
Other End-User Verticals
By Country China
India
Japan
Australia
Rest of Asia Pacific
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APAC Flexible Packaging Market Research FAQs

What is the current APAC Flexible Packaging Market size?

The APAC Flexible Packaging Market is projected to register a CAGR of 2.76% during the forecast period (2024-2029)

Who are the key players in APAC Flexible Packaging Market?

Amcor Ltd, Berry Plastics Corporation, Mondi Group, Sonoco Products Company and Rengo co. ltd are the major companies operating in the APAC Flexible Packaging Market.

What years does this APAC Flexible Packaging Market cover?

The report covers the APAC Flexible Packaging Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the APAC Flexible Packaging Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

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