Flexible Packaging Category - Procurement Intelligence expected to grow at a CAGR of 4.7% from 2023 to 2030
Flexible Packaging Category - Procurement Intelligence The flexible packaging category is expected to grow at a CAGR of 4.7% from 2023 to 2030. The growing use of these products in the pharmaceutical and food and beverage industries is anticipated to drive the demand. In 2022, Asia Pacific accounted for the highest proportion of the category share, with more than 38%. Flexible packaging has the primary advantage of reducing the amount of packaging materials used. They boast a low packaging ratio (up to five times less than alternatives), are highly customizable, lightweight, use less energy and water during production, occupy less space in landfills, and are highly customizable. More food businesses are exploring flexible packaging for their products. Producers, consumers, and retailers all benefit from flexible packaging in terms of sustainability. One of the major trends in this category is the increasing use of sustainable plant-based packaging solutions. According t...