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ASIA-PACIFIC FLEXIBLE PLASTIC PACKAGING MARKET FORECAST 2024-2032

SCOPE OF THE REPORT

Asia-Pacific Flexible Plastic Packaging Market by Material (Plastics, Aluminum Foils, Other Materials) Market by Type (Pouches, Rollstock, Bags, Films & Wraps, Other Types) Market by Printing Technology (Flexography, Rotogravure, Digital Printing, Other Printing Technologies) Market by Application (Food & Beverages, Healthcare, Cosmetics & Toiletries, Other Applications) by Geography


MARKET OVERVIEW

The Asia-Pacific flexible plastic packaging market is projected to accelerate with a CAGR of 4.45% during the forecast period of 2024-2032. The market was valued at $83572.20 million in 2023 and is expected to reach $124787.57 million by 2032. The flexible plastic packaging market in the Asia-Pacific region is experiencing robust growth, driven by factors such as rapid urbanization, shifting consumer preferences, and an increasing demand for convenient and sustainable packaging solutions. Consumers are increasingly opting for flexible packaging due to its lightweight, durable, and cost-effective properties, which cater to their fast-paced lifestyles. 

Additionally, growing environmental consciousness is fostering a transition towards recyclable and biodegradable materials, encouraging manufacturers to invest in the development of sustainable alternatives. This growth is further bolstered by strong domestic demand and favorable economic conditions in key markets such as China and India, solidifying the region’s position as a leading hub for flexible plastic packaging production.  

The Asia-Pacific flexible plastic packaging market growth assessment comprises the analysis of China, Japan, India, South Korea, Indonesia, Thailand, Australia & New Zealand, and Rest of Asia-Pacific.

 

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The flexible packaging market in China is experiencing significant growth, driven by the expanding packaged food sector as well as the substantial rates of plastic production. In 2022, China’s packaged food market surpassed the $1 trillion mark, with projections indicating continued growth over the upcoming years. This notable surge is attributed to urbanization, a rising middle class, and increased demand for convenient, lightweight packaging solutions. Additionally, China remains a global leader in plastic production, accounting for 32% of worldwide plastic materials. The abundant availability of plastic as a raw material supports the production of flexible packaging, further propelling market expansion. Consequently, the synergy between a booming packaged food industry and robust plastic production is expected to drive sustained growth in China’s flexible packaging market.

On the other hand, the flexible packaging market in India is experiencing significant growth, driven by strategic investments and innovations from key industry players. For instance, Huhtamaki India Ltd, a pioneer in flexible packaging since 1935, offers a wide portfolio of packaging solutions, including flexible packaging, labeling technologies, specialized cartons, and tube laminates. With fifteen state-of-the-art, fully integrated manufacturing facilities across India, the company closely collaborates with clients from product inception to the supermarket, providing total packaging solutions. 

Furthermore, Michelman, a United States-based company, has established the Michelman Innovation Centre for Coatings (MICC) in Mumbai. This facility serves as a packaging incubator, allowing all members of the packaging value chain to participate in the design and production of sustainable packaging. The MICC is equipped with advanced equipment for barrier testing, lamination, and improving both the physical and chemical properties of coatings, facilitating the development of innovative and environmentally friendly flexible packaging solutions. These factors, in turn, are positioned to boost the flexible plastic packaging market growth in the region during the forecast period. 

The Asia-Pacific flexible plastic packaging market segmentation includes material, type, printing technology, and application. The printing technology segment is further classified into flexography, rotogravure, digital printing, and other printing technologies.

Flexography printing technology utilizes flexographic inks to print on various flexible packaging materials, including corrugated cardboard, plastic and paper bags, newspapers, food packaging, catalogs, and more. It supports a wide range of materials like PVC, stand-up pouches, flat pouches, roll stock, gusseted bags, wicketed bags, and wraps. Flexography offers key advantages, such as fast-drying inks and the ability to print on both porous and non-porous surfaces. Its straightforward plate-manufacturing process enables high-volume image production with a single template, making it ideal for continuous image patterns and large-scale printing.

On the other hand, rotogravure is a printing process where the image is engraved onto a cylinder and transferred to flexible packaging materials via a rotary press. This technology ensures superior print quality by using a dedicated cylinder for each color in the desired image. Key features include the ability to handle large production volumes while maintaining cost-efficiency and high-quality output. Its reliability, exceptional print quality, and economic advantages make rotogravure printing widely adopted, driving growth in the market for flexible packaging solutions.

Some of the top players operating in the Asia-Pacific flexible plastic packaging market are Sealed Air Corporation, Graphic Packaging International LLC, Huhtamaki, etc.

Sealed Air Corporation, headquartered in the United States, delivers food safety, security, and product protection solutions globally through its Food Care and Product Care segments. The Food Care segment focuses on contamination risk management, extending shelf life, and improving food preparation and merchandising through brands like Cryovac Grip & Tear, Darfresh, Mirabella, and Optidure. It also provides integrated equipment systems, flexible packaging materials for medical and pharmaceutical use, and services such as graphic design, training, and diagnostics. The Product Care segment, on the other hand, offers packaging solutions, including Bubble Wrap, AirCap, Instapak, Jiffy, and innovative systems like I-Pack and E-Cube, catering to diverse packaging needs.

REPORT SYNOPSIS

REPORT SCOPEDETAILS
Market Forecast Years2024-2032
Base Year2023
Market Historical Years2018-2022
Forecast UnitsRevenue ($ Million)
Segments Analyzed
Material, Type, Printing Technology, and Application
Countries AnalyzedChina, Japan, India, South Korea, Indonesia, Thailand, Australia & New Zealand, and Rest of Asia-Pacific
Companies AnalyzedAmcor Plc, Berry Global Group Inc, CCL Industries Inc, Constantia Flexibles, Coveris, DS Smith, Glenroy Inc, Graphic Packaging International LLC, Huhtamaki, Mondi Group, ProAmpac, Printpack, Sealed Air Corporation, Sigma Plastics Group, Sonoco Products Company

TABLE OF CONTENTS

  1. RESEARCH SCOPE & METHODOLOGY
    1. STUDY OBJECTIVES
    2. METHODOLOGY
    3. ASSUMPTIONS & LIMITATIONS
  2. EXECUTIVE SUMMARY
    1. MARKET SIZE & ESTIMATES
    2. MARKET OVERVIEW
    3. SCOPE OF STUDY
    4. CRISIS SCENARIO ANALYSIS
    5. MAJOR MARKET FINDINGS
      1. IMPROVEMENTS IN MANUFACTURING ACTIVITIES ARE AIDING THE MARKET’S GROWTH
      2. EMERGENCE OF SMART PACKAGING 
  3. MARKET DYNAMICS
    1. KEY DRIVERS
      1. GROWING FOCUS ON REDUCING FOOD WASTAGE AND ENHANCING COST-EFFECTIVENESS OF PRODUCTS
      2. RISING DEMAND FOR MORE SUSTAINABLE AND ENVIRONMENTALLY FRIENDLY PACKAGING
      3. INCREASING DEMAND FROM VARIOUS END-USERS
    2. KEY RESTRAINTS
      1. VOLATILITY IN RAW MATERIAL PRICES
      2. ISSUES RELATED TO RECYCLING PLASTIC PACKAGING
      3. STRINGENT ENVIRONMENTAL REGULATIONS
  4. KEY ANALYTICS
    1. KEY MARKET TRENDS
      1. ESCALATING DEMAND FOR CONVENIENT PACKAGING SOLUTIONS
      2. INCREASED USE IN THE FOOD & BEVERAGE INDUSTRY
      3. EXPANDING FOOD PROCESSING AND E-COMMERCE SECTORS
    2. PORTER’S FIVE FORCES ANALYSIS
      1. BUYERS POWER
      2. SUPPLIERS POWER
      3. SUBSTITUTION
      4. NEW ENTRANTS
      5. INDUSTRY RIVALRY
    3. GROWTH PROSPECT MAPPING
      1. GROWTH PROSPECT MAPPING FOR ASIA-PACIFIC
    4. MARKET CONCENTRATION ANALYSIS
    5. VALUE CHAIN ANALYSIS
      1. RAW MATERIAL SUPPLIERS
      2. MANUFACTURERS
      3. DISTRIBUTORS
      4. END-USERS
    6. KEY BUYING CRITERIA
      1. APPLICATION AND EFFECTIVENESS
      2. COST
      3. SUSTAINABILITY
    7. REGULATORY FRAMEWORK
  5. MARKET BY MATERIAL 
    1. PLASTICS
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    2. ALUMINUM FOILS
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    3. OTHER MATERIALS
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
  6. MARKET BY TYPE 
    1. POUCHES
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    2. ROLLSTOCK
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    3. BAGS
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    4. FILMS & WRAPS
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    5. OTHER TYPES
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
  7. MARKET BY PRINTING TECHNOLOGY
    1. FLEXOGRAPHY
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    2. ROTOGRAVURE
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    3. DIGITAL PRINTING
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    4. OTHER PRINTING TECHNOLOGIES
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
  8. MARKET BY APPLICATION
    1. FOOD & BEVERAGES
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    2. HEALTHCARE
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    3. COSMETICS & TOILETRIES
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    4. OTHER APPLICATIONS
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
  9. GEOGRAPHICAL ANALYSIS
    1. ASIA-PACIFIC
      1. MARKET SIZE & ESTIMATES
      2. ASIA-PACIFIC FLEXIBLE PLASTIC PACKAGING MARKET DRIVERS
      3. ASIA-PACIFIC FLEXIBLE PLASTIC PACKAGING MARKET CHALLENGES
      4. KEY PLAYERS IN ASIA-PACIFIC FLEXIBLE PLASTIC PACKAGING MARKET
      5. COUNTRY ANALYSIS
        1. CHINA
          1. CHINA FLEXIBLE PLASTIC PACKAGING MARKET SIZE & OPPORTUNITIES
        2. JAPAN
          1. JAPAN FLEXIBLE PLASTIC PACKAGING MARKET SIZE & OPPORTUNITIES
        3. INDIA
          1. INDIA FLEXIBLE PLASTIC PACKAGING MARKET SIZE & OPPORTUNITIES
        4. SOUTH KOREA
          1. SOUTH KOREA FLEXIBLE PLASTIC PACKAGING MARKET SIZE & OPPORTUNITIES
        5. INDONESIA
          1. INDONESIA FLEXIBLE PLASTIC PACKAGING MARKET SIZE & OPPORTUNITIES
        6. THAILAND
          1. THAILAND FLEXIBLE PLASTIC PACKAGING MARKET SIZE & OPPORTUNITIES
        7. AUSTRALIA & NEW ZEALAND
          1. AUSTRALIA & NEW ZEALAND FLEXIBLE PLASTIC PACKAGING MARKET SIZE & OPPORTUNITIES
        8. REST OF ASIA-PACIFIC
          1. REST OF ASIA-PACIFIC FLEXIBLE PLASTIC PACKAGING MARKET SIZE & OPPORTUNITIES
  10. COMPETITIVE LANDSCAPE
    1. KEY STRATEGIC DEVELOPMENTS
      1. MERGERS & ACQUISITIONS
      2. PRODUCT LAUNCHES & DEVELOPMENTS
      3. PARTNERSHIPS & AGREEMENTS
      4. BUSINESS EXPANSIONS & DIVESTITURES
    2. COMPANY PROFILES
      1. AMCOR PLC
        1. COMPANY OVERVIEW
        2. PRODUCTS
        3. STRENGTHS & CHALLENGES
      2. BERRY GLOBAL GROUP INC 
        1. COMPANY OVERVIEW
        2. PRODUCTS
        3. STRENGTHS & CHALLENGES
      3. CCL INDUSTRIES INC
        1. COMPANY OVERVIEW
        2. PRODUCTS
        3. STRENGTHS & CHALLENGES
      4. CONSTANTIA FLEXIBLES
        1. COMPANY OVERVIEW
        2. PRODUCTS
        3. STRENGTHS & CHALLENGES
      5. COVERIS
        1. COMPANY OVERVIEW
        2. PRODUCTS
        3. STRENGTHS & CHALLENGES
      6. DS SMITH
        1. COMPANY OVERVIEW
        2. PRODUCTS
        3. STRENGTHS & CHALLENGES
      7. GLENROY INC
        1. COMPANY OVERVIEW
        2. PRODUCTS
        3. STRENGTHS & CHALLENGES
      8. GRAPHIC PACKAGING INTERNATIONAL LLC
        1. COMPANY OVERVIEW
        2. PRODUCTS
        3. STRENGTHS & CHALLENGES
      9. HUHTAMAKI 
        1. COMPANY OVERVIEW
        2. PRODUCTS
        3. STRENGTHS & CHALLENGES
      10. MONDI GROUP
        1. COMPANY OVERVIEW
        2. PRODUCTS
        3. STRENGTHS & CHALLENGES
      11. PROAMPAC 
        1. COMPANY OVERVIEW
        2. PRODUCTS
        3. STRENGTHS & CHALLENGES
      12. PRINTPACK 
        1. COMPANY OVERVIEW
        2. PRODUCTS
        3. STRENGTHS & CHALLENGES
      13. SEALED AIR CORPORATION
        1. COMPANY OVERVIEW
        2. PRODUCTS
        3. STRENGTHS & CHALLENGES
      14. SIGMA PLASTICS GROUP
        1. COMPANY OVERVIEW
        2. PRODUCTS
        3. STRENGTHS & CHALLENGES
      15. SONOCO PRODUCTS COMPANY
        1. COMPANY OVERVIEW
        2. PRODUCTS
        3. STRENGTHS & CHALLENGES

LIST OF TABLES

TABLE 1: MARKET SNAPSHOT – FLEXIBLE PLASTIC PACKAGING

TABLE 2: REGULATORY FRAMEWORK

TABLE 3: ASIA-PACIFIC FLEXIBLE PLASTIC PACKAGING MARKET, BY MATERIAL, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 4: ASIA-PACIFIC FLEXIBLE PLASTIC PACKAGING MARKET, BY MATERIAL, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 5: ASIA-PACIFIC FLEXIBLE PLASTIC PACKAGING MARKET, BY TYPE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 6: ASIA-PACIFIC FLEXIBLE PLASTIC PACKAGING MARKET, BY TYPE, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 7: ASIA-PACIFIC FLEXIBLE PLASTIC PACKAGING MARKET, BY PRINTING TECHNOLOGY, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 8: ASIA-PACIFIC FLEXIBLE PLASTIC PACKAGING MARKET, BY PRINTING TECHNOLOGY, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 9: ASIA-PACIFIC FLEXIBLE PLASTIC PACKAGING MARKET, BY APPLICATION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 10: ASIA-PACIFIC FLEXIBLE PLASTIC PACKAGING MARKET, BY APPLICATION, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 11: ASIA-PACIFIC FLEXIBLE PLASTIC PACKAGING MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 12: ASIA-PACIFIC FLEXIBLE PLASTIC PACKAGING MARKET, BY COUNTRY, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 13: KEY PLAYERS OPERATING IN ASIA-PACIFIC FLEXIBLE PLASTIC PACKAGING MARKET

TABLE 14: LIST OF MERGERS & ACQUISITIONS

TABLE 15: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS

TABLE 16: LIST OF PARTNERSHIPS & AGREEMENTS

TABLE 17: LIST OF BUSINESS EXPANSIONS & DIVESTITURES

LIST OF FIGURES

FIGURE 1: KEY MARKET TRENDS

FIGURE 2: PORTER’S FIVE FORCES ANALYSIS

FIGURE 3: GROWTH PROSPECT MAPPING FOR ASIA-PACIFIC

FIGURE 4: MARKET CONCENTRATION ANALYSIS

FIGURE 5: VALUE CHAIN ANALYSIS 

FIGURE 6: KEY BUYING CRITERIA

FIGURE 7: ASIA-PACIFIC FLEXIBLE PLASTIC PACKAGING MARKET, GROWTH POTENTIAL, BY MATERIAL, IN 2023

FIGURE 8: ASIA-PACIFIC FLEXIBLE PLASTIC PACKAGING MARKET, BY PLASTICS, 2024-2032 (IN $ MILLION)

FIGURE 9: ASIA-PACIFIC FLEXIBLE PLASTIC PACKAGING MARKET, BY ALUMINUM FOILS, 2024-2032 (IN $ MILLION)

FIGURE 10: ASIA-PACIFIC FLEXIBLE PLASTIC PACKAGING MARKET, BY OTHER MATERIALS, 2024-2032 (IN $ MILLION)

FIGURE 11: ASIA-PACIFIC FLEXIBLE PLASTIC PACKAGING MARKET, GROWTH POTENTIAL, BY TYPE, IN 2023

FIGURE 12: ASIA-PACIFIC FLEXIBLE PLASTIC PACKAGING MARKET, BY POUCHES, 2024-2032 (IN $ MILLION)

FIGURE 13: ASIA-PACIFIC FLEXIBLE PLASTIC PACKAGING MARKET, BY ROLLSTOCK, 2024-2032 (IN $ MILLION)

FIGURE 14: ASIA-PACIFIC FLEXIBLE PLASTIC PACKAGING MARKET, BY BAGS, 2024-2032 (IN $ MILLION)

FIGURE 15: ASIA-PACIFIC FLEXIBLE PLASTIC PACKAGING MARKET, BY FILMS & WRAPS, 2024-2032 (IN $ MILLION)

FIGURE 16: ASIA-PACIFIC FLEXIBLE PLASTIC PACKAGING MARKET, BY OTHER TYPES, 2024-2032 (IN $ MILLION)

FIGURE 17: ASIA-PACIFIC FLEXIBLE PLASTIC PACKAGING MARKET, GROWTH POTENTIAL, BY PRINTING TECHNOLOGY, IN 2023

FIGURE 18: ASIA-PACIFIC FLEXIBLE PLASTIC PACKAGING MARKET, BY FLEXOGRAPHY, 2024-2032 (IN $ MILLION)

FIGURE 19: ASIA-PACIFIC FLEXIBLE PLASTIC PACKAGING MARKET, BY ROTOGRAVURE, 2024-2032 (IN $ MILLION)

FIGURE 20: ASIA-PACIFIC FLEXIBLE PLASTIC PACKAGING MARKET, BY DIGITAL PRINTING, 2024-2032 (IN $ MILLION)

FIGURE 21: ASIA-PACIFIC FLEXIBLE PLASTIC PACKAGING MARKET, BY OTHER PRINTING TECHNOLOGIES, 2024-2032 (IN $ MILLION)

FIGURE 22: ASIA-PACIFIC FLEXIBLE PLASTIC PACKAGING MARKET, GROWTH POTENTIAL, BY APPLICATION, IN 2023

FIGURE 23: ASIA-PACIFIC FLEXIBLE PLASTIC PACKAGING MARKET, BY FOOD & BEVERAGES, 2024-2032 (IN $ MILLION)

FIGURE 24: ASIA-PACIFIC FLEXIBLE PLASTIC PACKAGING MARKET, BY HEALTHCARE, 2024-2032 (IN $ MILLION)

FIGURE 25: ASIA-PACIFIC FLEXIBLE PLASTIC PACKAGING MARKET, BY COSMETICS & TOILETRIES, 2024-2032 (IN $ MILLION)

FIGURE 26: ASIA-PACIFIC FLEXIBLE PLASTIC PACKAGING MARKET, BY OTHER APPLICATIONS, 2024-2032 (IN $ MILLION)

FIGURE 27: ASIA-PACIFIC FLEXIBLE PLASTIC PACKAGING MARKET, COUNTRY OUTLOOK, 2023 & 2032 (IN %)

FIGURE 28: CHINA FLEXIBLE PLASTIC PACKAGING MARKET, 2024-2032 (IN $ MILLION)

FIGURE 29: JAPAN FLEXIBLE PLASTIC PACKAGING MARKET, 2024-2032 (IN $ MILLION)

FIGURE 30: INDIA FLEXIBLE PLASTIC PACKAGING MARKET, 2024-2032 (IN $ MILLION)

FIGURE 31: SOUTH KOREA FLEXIBLE PLASTIC PACKAGING MARKET, 2024-2032 (IN $ MILLION)

FIGURE 32: INDONESIA FLEXIBLE PLASTIC PACKAGING MARKET, 2024-2032 (IN $ MILLION)

FIGURE 33: THAILAND FLEXIBLE PLASTIC PACKAGING MARKET, 2024-2032 (IN $ MILLION)

FIGURE 34: AUSTRALIA & NEW ZEALAND FLEXIBLE PLASTIC PACKAGING MARKET, 2024-2032 (IN $ MILLION)

FIGURE 35: REST OF ASIA-PACIFIC FLEXIBLE PLASTIC PACKAGING MARKET, 2024-2032 (IN $ MILLION)

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