The flexible packaging market is projected to expand from $102.19 billion in 2017 to $131.65 billion by 2022, growing at a compound annual growth rate (CAGR) of 5.2%, according to a recent report from MarketsandMarkets™. Demand is growing for the global flexible plastic packaging market due to an increase in manufacturing activities and rising demand for conveniently packaged products. The growth in demand from the food and beverage industry also provides an opportunity for market growth, especially in the emerging Asia-Pacific and South American regions.
The stand-up pouches segment is estimated to account for the largest share in 2022, mainly because of the growing consumption of food and beverage, dairy, and cosmetics products. Stand-up pouches are appealing as well as functional, as they offer various features such as zipper re-seal, slider closure, and release valves. In addition, the growing healthcare industry also provides an opportunity to the market to grow further due to the rising consumption of over-the-counter products for which stand-up pouches are used, especially in the emerging markets of Asia-Pacific and South America.