Shrink Sleeves Dominate Beverage and Food Packaging in the Flexible Paper Market

The global flexible paper packaging industry size is anticipated to increase from USD 64.4 billion in 2021 to USD 79.1 billion by 2026 at a CAGR of 4.2% from 2021 to 2026, according to the MarketsandMarkets™ report "Flexible Paper Packaging Market by Packaging Type (Pouches, Roll Stock, Shrink Sleeves, Wraps), Printing Technology (Rotogravure, Flexography, Digital Printing), embellishing type (Hot Coil, Cold Coil), Application, and Region - Global Forecast. The market is expected to expand because flexible paper packaging is more cost-effective, environmentally friendly, and requires less material than other types of packaging. Flexible paper packaging is becoming more popular, which is linked to both its high efficiency and low cost. Food and beverage, personal care, home care, and healthcare are just a few industries that could benefit from flexible packaging.

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Pouches are anticipated to dominate the market for flexible paper packaging in terms of value and volume.

By 2026, pouches are anticipated to control the flexible paper packaging market in terms of value. Due to their versatility, portability, and small weight, pouches are being used more frequently. Pouches are increasingly in demand from the food packaging and e-commerce sectors.

The market for flexible paper packaging is anticipated to have the largest sector due to flexography.

By printing method, flexography will have the most value and volume demand for flexible paper packaging in 2020. Due to the increased need for flexible paper packaging and the low viscosity of the inks used in flexography, which allows the print to dry quickly and speeds up the printing process while lowering manufacturing costs, this market is expected to rise rapidly.

The flexible paper packaging market is expected to be dominated by Hot Coil, according to estimates.

In terms of value and volume, Hot Coil embellishment stood for the highest demand for flexible paper packaging in 2020. There are many industries that use hot foil embellishment, but food and beverage (especially confectionary like premium chocolate, wine and liquor bottles, and other premium foods), cosmetics, electronics, banknotes, business cards, greeting cards, and artwork account for the largest share of its use.

The flexible paper packaging market is expected to have the largest food category in 2020.

By application, food will have the highest value and volume of demand for flexible paper packaging in 2020. The rising demand for flexible paper packaging as well as changing lifestyles and hectic work schedules of the working population are primarily responsible for this segment's rise. Additionally, flexible paper packaging decreases leakage and increases product shelf life. Due of their portability and convenience, food products consume the most flexible plastic packaging. Food and beverage packaging's main purposes are to decrease food loss and lengthen the shelf life of food goods.

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During the forecast period, the APAC region is anticipated to hold the biggest market share for flexible paper packaging.

From 2021 to 2026, the flexible paper packaging market is anticipated to be dominated by the APAC region, both in terms of volume and value. During the projected period, industry expansion in the region will be fueled in part by a growing population and fast urbanization. The demand for flexible paper packaging in the region is being fueled by the food and beverage industries in a number of APAC nations.

Amcor Limited (Australia), Mondi Group (UK), Sonoco Products Company (US), Sealed Air Corporation (US), Huhtamaki OYJ (Finland), Sappi Global (South Africa), DS Smith (UK), Coveris Holding SA (UK), Sabert (US), Wihuri (Finland), amongst others, are the key players operating in the flexible paper packaging market. 

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