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Global Outlook for Flexible Packaging

A presentation at the FPA 2019 Annual Fall Conference presents an optimistic forecast for the global growth of flexible packaging, with Asia Pacific in the lead.

Bill Carroll, Sr. Consultant, Government & Trade, Euromonitor International
Bill Carroll, Sr. Consultant, Government & Trade, Euromonitor International


Bill Carroll, Sr. Consultant, Government & Trade, Euromonitor International, presented an  extremely optimistic forecast for the global growth of flexible packaging through 2023 at the FPA 2019 Fall Executive Conference, held in October in Chicago. Noted Carroll, the global packaging market is expected to grow by 16.9% by 2023, for an absolute growth of 622 billion units. Of that, 339 billion units will be flexible packaging—far outpacing other formats such as rigid packaging at 166.1 billion units, metal at 34.7 billion, paper-based containers at 28.3 billion, and glass at 28 billion units.

In citing current conditions, Carroll said that in 2018, flexible packaging made up 41% of the global volume of packaging, which totaled 3.62 trillion total units sold. “Is 41 percent of 3.62 trillion a big number? Yes, it is. So well done!” he congratulated the audience, which was made up primarily of those supplying and converting flexible packaging materials.

Of the flexible packaging types, flexible film is the largest segment and will experience the largest growth, followed by flexible aluminum/plastic, flexible paper, stand-up pouches, flexible aluminum/paper, aluminum foil, blister and strip packs, and flexible paper/plastic.

Carroll then broke down the global market by region, noting some of the trends and drivers of flexible packaging in those areas:

·     Latin America: Said Carroll, “Packaging volume sales continue registering positive movement despite economic challenges.” In 2018, Latin America accounted for 165 billion units of the global flexible packaging market, a number expected to grow to 179 billion by 2023, for a CAGR of 9%.

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