The report "Flexible Plastic Packaging Market by Type (Pouches, Rollstocks, Bags, Wraps), Material (Plastic & Aluminum Foil), Application (Food, Beverage, Pharma & Healthcare, Personal care & Cosmetics), Technology, and Region – Global Forecast To 2025", The global flexible plastic packaging market size is projected to grow from USD 160.8 billion in 2020 to USD 200.5 billion by 2025, at a CAGR of 4.5% from 2020 to 2025.
The increase in the demand for pouches can be attributed to the rise in the demand for processed food packed in pouches, lightweight, and convenient packaging solutions across end-use industries.
Manufacturers of food and beverage products prefer stand-up pouches to differentiate their brands and gain a competitive advantage in the market.
People are resorting to panic-buying and bulk stocking due to the fear of lockdowns, in COVID-19 pandemic.
More people are ordering daily staples and fresh food through online channels, which leads to an increase in the demand for flexible plastic packaging solutions.https://www.prnewswire.com/news-releases/flexible-plastic-packaging-market-worth-200-5-billion-by-2025--exclusive-report-by-marketsandmarkets-301157817.htmlThe APAC region is projected to account for the largest share in the flexible plastic packaging market during the forecast period.The APAC region is projected to lead the flexible plastic packaging market, in terms of both value and volume from 2020 to 2025.
Higher domestic demand, along with the availability of low-cost labor, makes this region the most attractive market for flexible plastic packaging producers.