Global Flexible Plastic Packaging market analysis 2024, Forecast To 2033

The flexible plastic packaging market has demonstrated robust growth, increasing from $166.01 billion in 2023 to $174.42 billion in 2024, reflecting a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period is attributed to consumer convenience, sustainability concerns, the growth of the food and beverage industry, shelf appeal and branding, as well as advancements in transportation and logistics. Expected to witness strong growth in the next few years, the market is projected to reach $219.18 billion in 2028, with a CAGR of 5.9%. The forecasted growth is linked to e-commerce and home delivery, convenience features, customization and personalization, the reduction of food waste, and emerging market growth. Major trends in the forecast period include an increasing focus on health and hygiene, advanced barrier materials, alternatives to single-use plastics, digital printing and labeling, as well as technological advancements.