Asia Pacific Flexible Packaging Market - Forecasts from 2024 to 2029

The Asia Pacific flexible packaging market is expected to grow at a CAGR of 4.09%, reaching a market size of US$104.351 billion in 2029 from US$84.682 billion in 2024.

The Asia-Pacific packaging industry includes the dynamic and fast-growing segment of the flexible packaging market. Light, durable, and cost-effective packaging solutions can be found in materials like plastic films, aluminium foils, and paper that fall under the classification of flexible packaging. There has been considerable market expansion over time owing to causes like cities growing bigger and individuals changing how they live. The importance of environmental sustainability is gradually catching on in the Asia Pacific region, particularly in the flexible packaging sector. Due to a rise in knowledge concerning how packaging materials affect the environment, many people and the government are calling for eco-friendly options. Consequently, people are moving notably towards using recycled and decomposable materials within flexible packs. Manufacturers are researching and developing alternate packaging made from durable materials that would possess the same physical properties as conventional flexible packages.

Asia Pacific Flexible Packaging Market Drivers:

Rising disposable income

Flexible packaging is increasingly in demand because the adjusted net national income per person in the Asia Pacific drives it. When nations like China, India, and several others keep growing economically prosperous, purchasing power by citizens also rises concurrently. As a result of having more disposable cash, people can change lifestyle patterns, likes when it comes to different product types in shops and preferences in buying behaviours to meet emerging trends with increased money for spending.

Further, the Asia Pacific region’s customers tend to purchase products with longer shelf lives or those they can use immediately because they have more money to spend after taking care of essential needs. This trend is most evident in the food and beverage industry because people living busy lives along with different eating habits are looking for more pre-packaged or ready-made foods than ever. Flexible packaging can be carried around conveniently, and on-the-go packaging solutions. Moreover, even the adjusted net national income per capita affects the kind of commodities being introduced into the market.

Changing consumer preferences

Premium and specialty items are on the rise with consumers increasingly willing to pay for unique, high-quality products that fetch higher profits. In the case of high-end commodities, flexible packaging is useful because it allows manufacturers to make their products more unique through creative packaging designs. Flexible packaging meets consumer needs: economic growth boosts the pharmaceuticals, personal care, and electronics industries. Therefore, they have embraced flexible packaging because it is cheap and can easily adapt to different shapes as per the needs of their customers. Similarly, these industries require shockproof product wrappings, which will last long, guarding against damages to their items, thus promoting intake. The demand for flexible packaging in these sectors is further fuelled by the need for protective and durable packaging that ensures the integrity of the products throughout the supply chain.

Asia Pacific Flexible Packaging Market Restraint:

Recycling challenges with Asia Pacific flexible packaging products

Flexible pouches and other products require numerous processes to separate, making recycling them labour-intensive and unprofitable. Packaging materials include different layers of film, such as plastic, foil, and paper. Blending various polymers is possible, but this would require capital investment in technology and machinery. While rigid plastic items are permissible, food and pharmaceutical packaging from recycled flexible packaging materials in Asia-Pacific cannot be allowed by the FDA.

Asia Pacific Flexible Packaging Market Geographical Outlook

India is expected to grow rapidly during the forecast period.

The Indian flexible packaging market is experiencing significant growth, primarily fueled by several key factors. An increasing per capita income is one major driver, accompanied by a shift in people’s lifestyles and growing awareness about health-conscious sources of foods and packages. Consequently, changes in lifestyle patterns and work trends in the country lead to increased fast food consumption from hotels and supermarkets. Furthermore, consumers prefer packaging that does not look messy and is convenient simultaneously, making the perfect choice for flexible packaging because it is cost-effective, beautiful, and durable. Besides, this is expected to thrive due to the expanding e-commerce sector in India, raising demand for flexible packages. Efficient and novel packaging solutions are needed as the Indian e-commerce market expands significantly, as argued by the International Trade Administration and the U.S. Department of Commerce. This can be attributed to growth in online retail platforms, which have created demand for flexible packaging. This might be because of increased digital payment systems usage and online channels in this nation's urban and rural sectors. Therefore, the flexible packaging market is expected to continue to register advancements in subsequent years as more people venture into the food service industry and the e-commerce sector.

Asia Pacific Flexible Packaging Market Developments:

• In July 2024, announcing the arrival of BOBST Connect in the Southeast Asia-Pacific market, BOBST is reshaping the packaging industry's future. Bobst Connect's ability to adapt and serve clients both now and in the future is one of its main features. BOBST Connect has grown more sophisticated. Numerous clients have successfully implemented the solution on a large scale. This year, BOBST has introduced several new goods and technologies based on performance management and equipment monitoring.
• In January 2023: Amcor announced the signing of the contract for acquiring MDK company, which specializes in medical flexible packaging and is one of Amcor's top priorities globally. MDK makes 50 million dollars annually. MDK's coating capabilities, medical paper-based flexible packaging options, and client base enhance Amcor's existing portfolio. This further solidified Amcor's dominant position in the Chinese medical device packaging industry. Adding MDK also consolidates Amcor's position as the industry leader in the larger Asia Pacific medical packaging sector.

Asia Pacific Flexible Packaging Key Market Segmentation:

Asia Pacific flexible packaging Market is segmented and analyzed as below:

By Type

• Pouch
• Bags
• Film
• Others

By Material

• Plastic
• Paper
• Aluminum

By End-User

• Food & Beverage
• Personal care
• Pharmaceutical
• Others

By Geography

• Japan
• China
• India
• South Korea
• Australia
• Indonesia
• Others