In the realm of packaging, the converted flexible packaging industry holds a significant place due to its versatility and efficiency in meeting the ever-evolving demands of various industries. The statistics surrounding this dynamic sector provide valuable insights into its growth, trends, and potential opportunities for businesses operating within this space.
The Latest Converted Flexible Packaging Industry Statistics Explained
The global Converted Flexible Packaging Market size was valued at USD 147.28 billion in 2020.
The statistic stating that the global Converted Flexible Packaging Market size was valued at USD 147.28 billion in 2020 signifies the total market value of flexible packaging materials that underwent conversion processes like printing, lamination, and others to make them ready for end-use applications such as food packaging, pharmaceuticals, personal care products, and others. This figure reflects the substantial economic significance and widespread adoption of flexible packaging solutions worldwide as a preferred choice for their lightweight, cost-effectiveness, and sustainability. The sizeable market value suggests a strong demand for converted flexible packaging products in various industries, highlighting the industry’s growth and potential for further expansion in the future.
North America accounted for the largest market share of 45% in 2020.
The statistic ‘North America accounted for the largest market share of 45% in 2020’ indicates that out of the total market for the product or service being analyzed, North America contributed the largest portion at 45%. This means that nearly half of the market was captured by North American consumers, companies, or industries. The data suggests that North America had a significant influence on the market landscape in 2020, with its consumption, production, or presence dominating compared to other regions around the world. This statistic not only highlights the importance of North America in the market but also provides valuable insights for businesses, policymakers, and researchers looking to understand the dynamics and trends within that particular industry or market segment.
The Asia-Pacific region is projected to grow at the highest CAGR of 4.7% from 2021 to 2028.
The statistic indicates that the Asia-Pacific region is expected to experience the highest Compound Annual Growth Rate (CAGR) of 4.7% from 2021 to 2028 compared to other regions. This growth rate suggests that the economy in the Asia-Pacific region is projected to expand rapidly during this period. Factors contributing to this growth could include increasing investments, population growth, technological advancements, and a growing middle class leading to higher consumption. This statistic highlights the region’s potential for economic development and investment opportunities in various sectors, making it an attractive market for businesses looking to expand or invest in the Asia-Pacific region.
In 2020, converted flexible packaging for the food & beverages sector held the largest market share, accounting for more than two-fifths of the total share.
The statistic indicates that in 2020, the market share of converted flexible packaging in the food & beverages sector was the highest among all packaging types, constituting more than 40% of the total market share. This suggests that converted flexible packaging, such as pouches, bags, and wraps, was the preferred choice for packaging food and beverage products during that year. The dominance of flexible packaging in this sector could be attributed to its various advantages, including cost-effective production, lightweight nature, and ability to extend the shelf life of perishable goods. This statistic signifies the significant presence and importance of converted flexible packaging in the food and beverages industry in 2020.
The paper flexible packaging type segment had a market share of USD 46.09 billion in 2020.
The statistic stating that the paper flexible packaging type segment had a market share of USD 46.09 billion in 2020 provides information about the size and significance of the paper flexible packaging sector within the overall packaging industry. This indicates that the market value of paper-based flexible packaging products amounted to USD 46.09 billion, reflecting the economic importance and demand for such products in 2020. This segment likely includes a range of paper-based packaging solutions such as bags, pouches, and wrappers that are known for their eco-friendly properties and versatility. The substantial market share suggests that the paper flexible packaging type is a key player in the packaging industry, catering to consumer preferences for sustainable packaging options.
Beverage packaging, a segment of the converted flexible packaging industry, is expected to reach a value of USD 190.61 Billion by 2028.
This statistic indicates the projected value of the beverage packaging segment within the converted flexible packaging industry, anticipated to reach USD 190.61 Billion by the year 2028. This forecast suggests significant growth and demand for beverage packaging solutions, driven by factors such as evolving consumer preferences, technological advancements, and sustainability concerns in the packaging industry. The rise in demand for convenient and eco-friendly packaging options for beverages is likely to fuel this growth, presenting opportunities for industry players to innovate and capitalize on emerging trends in the market.
The pouches segment of Converted Flexible Packaging industry accounted for a share of 32.6% in 2020.
The statistic indicates that within the Converted Flexible Packaging industry, the pouches segment held a significant market share of 32.6% in 2020. This implies that nearly one-third of the total converted flexible packaging market was dominated by pouches. This may suggest that pouches are a popular and preferred packaging option within the industry, potentially due to their convenience, versatility, and functionality. The market share figure provides valuable insight into the competitive landscape within the industry and highlights the importance of the pouches segment in driving overall industry growth and revenue generation in 2020.
The growth in pharmaceutical packaging, under the converted flexible packaging industry, is projected to grow at a CAGR of 8.5% from 2020 to 2027.
This statistic indicates that the pharmaceutical packaging segment within the converted flexible packaging industry is expected to experience significant growth over the period from 2020 to 2027. The Compound Annual Growth Rate (CAGR) of 8.5% suggests a sustained and steady increase in demand for this type of packaging within the pharmaceutical sector. This growth rate reflects the anticipated rise in consumption and production of pharmaceutical products, driving the need for efficient and innovative packaging solutions to meet industry requirements. The projected growth in pharmaceutical packaging underlines the potential opportunities for businesses operating in the converted flexible packaging industry to capitalize on this expanding market segment.
The pet food packaging market, part of the converted flexible packaging industry, is expected to reach USD 13.27 Billion by 2027
The statistic indicates that the pet food packaging market, which is a segment within the converted flexible packaging industry, is projected to grow and reach a market value of USD 13.27 billion by the year 2027. This suggests a significant expansion in the demand for packaging solutions specifically designed for pet food products, reflecting the growing pet ownership trends and the increasing importance placed on the quality and safety of pet food products. The anticipated growth in this market sector implies opportunities for packaging manufacturers and suppliers to cater to the specific needs of the pet food industry, such as providing packaging solutions that ensure product freshness, convenience, and sustainability to meet the evolving preferences and requirements of pet owners.
The U.K. converted flexible packaging market size was estimated at USD 1.7 billion in 2016.
The statistic indicates that the total value of the U.K. converted flexible packaging market was approximately USD 1.7 billion in the year 2016. This value represents the sum of all revenues generated by companies involved in producing and selling flexible packaging materials such as bags, pouches, and wraps that can be easily shaped and molded. The market size serves as a measure of the economic activity within the converted flexible packaging industry in the U.K., reflecting the demand for these products and the overall health of the sector during that particular year. This statistic is essential for industry analysis, market forecasting, and understanding the competitive landscape of the converted flexible packaging market in the U.K.
Roughly 40% of all plastic produced is used in packaging.
The statistic indicating that roughly 40% of all plastic produced is used in packaging highlights the significant role that packaging plays in the plastic industry. This statistic underscores the widespread reliance on plastic for packaging purposes across various industries such as food and beverage, healthcare, and consumer goods. The high proportion of plastic used for packaging also emphasizes the detrimental impact on the environment, as packaging is often single-use and contributes significantly to plastic waste and pollution. It calls attention to the need for sustainable packaging solutions and strategies to reduce plastic consumption and promote recycling to mitigate the environmental consequences of plastic packaging use.
The global plastic packaging market, part of converted flexible packaging industry, is projected to reach a value of USD 486.2 billion by 2027.
The statistic indicates that the global plastic packaging market, which is a subset of the converted flexible packaging industry, is expected to grow significantly and reach a value of USD 486.2 billion by the year 2027. This projection suggests a considerable expansion in the demand for plastic packaging solutions across various industries such as food and beverage, healthcare, and consumer goods. The rising need for convenient and sustainable packaging options, coupled with the increasing consumption of packaged products worldwide, is likely to be driving this growth. It also highlights the economic significance and market potential of the plastic packaging sector, indicating opportunities for businesses operating within this industry to capitalize on the projected market growth.
Flexible Packaging-related jobs make up over 79,000 in the United States.
The statistic “Flexible Packaging-related jobs make up over 79,000 in the United States” indicates that there are more than 79,000 jobs directly associated with the flexible packaging industry within the United States. This statistic highlights the significant employment opportunities and economic impact that the flexible packaging sector has on the country. These jobs likely cover a range of roles including manufacturing, sales, distribution, and support functions within the industry. The high number of jobs in this sector suggests that flexible packaging plays a crucial role in the economy and provides employment opportunities for a substantial number of individuals across different states.
References
0. – https://www.www.grandviewresearch.com
1. – https://www.www.prnewswire.com
2. – https://www.www.abiresearch.com
3. – https://www.www.globenewswire.com
4. – https://www.www.alliedmarketresearch.com
5. – https://www.ourworldindata.org
