INK SPOTS
Tactics, stats and trends that matter
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Packaging Primed for Success
In 2022, the package printing market was estimated to be worth $473.7 billion; this will reach $551.3 billion by 2027 (constant 2021 prices), with a growth rate of 3.1%. Flexo is the largest process when it comes to package printing in 2022 and remains the largest to 2027, growing at a rate of 2.4%. Globally, corrugated and cartons is the largest material segment and will remain so to 2027, growing at a rate of 3.3%.
TAKE OFF
Flexible Packaging Fuels Growth
The global trends in flexible packaging with materials such as paper, foil, RCF, EVOH, PVC, PE, BOPET, BOPA, CPP, and BOPP are set to take off.
Market Growth The market value for flexible packaging is forecasted to grow at a CAGR of 3.2% to $341.6 billion from 2023 to 2028. Consumption is expected to grow at a CAGR of 4.2% to 41.23 million tons. Material Usage Plastic is the most used material for flexible packaging, with an 89.1% market share in 2023, followed by paper (7.7%) and foil (3.2%). Source: Smithers.com
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BOPP Growth BOPP (Biaxially Oriented Polypropylene) is forecasted to grow at the fastest rate, at 5.2% CAGR to 2028. Applications Flexible stand-up pouches are challenging rigid packaging in applications like ready meals, soups, rice, and sauces. BOPP film is strong in savory snack packaging, replacing traditional materials like RCF.
Sustainability Sustainable technology developments include mono-materials, which are more recyclable, and improved barrier solutions for monomaterial packaging. Market Segments Pharmaceuticals and medical, and cosmetics and toiletries are the largest non-food markets for flexible packaging. Food markets dominate, accounting for a projected 2023 share of 76%.
