Flexible Plastic Snack Food Packaging Market is predicted to reach USD 213,245.7 million at a CAGR of 5.31% during the forecast period

Pune, India, Sep 2022, MRFR Press Release/Market Research Future has published a Cooked Research Report on the Global Flexible Plastic Snack Food Packaging Market.

Global Flexible Plastic Snack Food Packaging Market

Plastics are used in many types of food packaging methods owing to the fact that plastic packaging protects food from damage, ensures food safety, and extends the freshness of foods. Currently, different companies rely on innovative packaging and advertising to draw the attention of buyers. A consumer chooses a product that is portable, compact, convenient, and eco-friendly. Packaging material plays an important role in dictating the product's style, thereby making it attractive and increasing its demand. All such factors affect the market value of the product.

Market Synopsis

According to the MRFR analysis, the Global Flexible Plastic Snack Food Packaging Market size is projected to reach USD 213,245.7 million by 2030 at a CAGR of 5.31%.

The demand for flexible plastic snack food packaging is growing significantly in the global market, primarily due to the changing consumer taste & preferences and the need for extending the shelf-life of food products. The global flexible plastic snack food packaging market is driven by factors such as changing consumer taste & preferences and the need for extending the shelf-life of food products. However, stringent regulations on packaging material waste and recycling are expected to restrain market growth. The growing retail sector and the untapped small & medium-sized manufacturers are expected to create opportunities for the market players.

The demand for flexible plastic snack food packaging has decreased considerably from the industrial sectors due to the COVID-19 pandemic. The packaging industry also witnesses a mixed impact owing to the significant changes in on-premises and off-premises business. The flexible plastic snack food packaging is essential to preserve, protect, and maintain the integrity and quality of the food products. However, the COVID-19 pandemic induced a steep decline in the purchase ad production of flexible plastic snack food packaging.

Competitive Landscape

The global flexible plastic snack food packaging market comprises many global and regional players. These players are adopting several strategies such as mergers & acquisitions, product development, joint ventures, partnerships, and expansion to expand their market share and improve their global market position. High competition, constant changes in technology, and integrated solutions by industry participants are the key factors that impact market growth. Amcor plc, Sonoco Products Company (Sonoco), Sealed Air Corporation, Coveris, Huhtamaki, ProAmpac, being the leading players, held a significant market share in 2019.

Segmentation

Based on Product Type:

• Stand-Up Pouches: Stand-up pouches are a type of flexible packaging, which can stand erect on its bottom for display, storage, and use. This type of plastic bag sometimes also features plastic bottle characteristics. Stand-up pouches are usually used for packaging powders or ready-to-drink (RTD) beverages. Stand-Up pouches accounted for the largest market share; the market is expected to register dominancy during the forecast period.


• Lay Flat Pouches: Lay-flat pouches are such types of pouches that are designed to lay flat. Lay-flat pouches are easy to grab and are safer and more convenient. Lay-flat pouches offer simple, efficient, and economical packaging solutions for the food packaging industry. Lay Flat pouches were the second-largest market. It is projected to register the highest CAGR in the forecast period.


• Films and Wraps: Film and wraps are highly stretchable plastic film commonly made from linear low-density polyethylene (LLDPE) wrapped around items.


• Rollstocks: Rollstock is a type of flexible packaging which is highly preferable in the food packaging industry. Rollstock refers to a laminated film that is put onto a roll for food safety and high shelf longevity of snack food products.


• Gussetted Bags: Gusset bags are bags with expanded capacities. These bags can hold almost everything from small and large parts to all types of food items.


• Other: The other segment includes other flexible packaging solutions, such as three-side seal pouches, foil bags, and day packs. Three-sided seal pouches are made of two metal foil pieces, or one side is a metal foil and the other is clear plastic.

Based on material type:

• Bi-axially-Oriented Polypropylene (BOPP): BOPP as a packaging material is suitable for the food packaging industry. BOPP is a co-extruded, heat-sealable film, which is generally used as a single web for product packaging.


• Polypropylene (PP): PP is a rigid and semi-crystalline thermoplastic. It has applications as a plastic and as a fiber in the packaging industry. It offers several characteristics, including low cost, high corrosion resistance, high durability, strength, and toughness.


• Polyethylene (PE): Polyethylene is used as a packaging material where moisture and vapor need to be kept out as it does not allow water vapor to pass through it. Polyethylene accounted for the largest market share; the market is expected to register steady growth during the forecast period.


• Linear Low-Density Polyethylene (LLDPE): LLDPE offers several characteristics, such as transparent thin-film form and very low water absorption. LLDPE is very flexible, has high impact strength, good stress crack, and impact resistance, and acts as a barrier to water vapor and alcohol.


• Polyester: Polyester or Polyethylene Terephthalate (PET) is a type of plastic resin and one of the most commonly used plastic materials. Polyester is strong, transparent, lightweight, and versatile in nature.


• Others: Other materials used for manufacturing include polyvinylidene chloride (PVDC), polyvinyl chloride (PVC), ethylene vinyl alcohol (EVOH), polyethylene naphthalate (PEN), and polystyrene (PS).

Based on application:

• Bakery Snacks: Bakery products include cake, pastries, biscuits, cookies, bread, breakfast cereals, and other products. The consumption of bakery products is increasing across the globe, creating a lucrative demand for the bakery snacks market segment. Bakery snacks accounted for the largest market share. The segment is expected to dominate the market during the forecast period.


• Candy & Confections: Candy & confections products refer to sugar-based food items, which are rich in sugar and carbohydrates. The changing lifestyles of individuals, especially children and youngsters, have created a high demand for candy & confections products.


• Savory Snacks: Savory snacks are those snacks that are generally consumed either with a meal or on the go. These foods are preferably consumed during the picnic or sporting events. Savory snacks were the second-largest market segment.


• Nuts & Dried Fruits: Nuts and dried fruits are enriched with essential vitamins, proteins, minerals, and healthy fats. Nuts and dried fruits also have a high calorific value and are generally consumed in raw or roasted form.


• Others: The others segment comprises salty snacks and “namkeen” mixtures. Such products are also key end users of flexible packaging solutions. 

Based on region:

• North America: North America is a key market for flexible plastic snack food packaging. The region has witnessed increased investments in research & development and product innovation as far as flexible plastic snack food packaging is concerned. North America holds the second-largest market share.


• Europe: Europe holds a substantial share of the flexible plastic snack food packaging market. The region is the home to several luxurious brands, which supports the market's growth for flexible plastic snack food packaging. Germany accounted for the largest market share in this region.


• Asia-Pacific: Asia-Pacific includes China, India, and Japan, where the increasing consumption of snack foods drives the regional market. The increasing demand for bakery products, candy & confections, savory snacks, and nuts & dried fruits among consumers lead to the growth of the flexible plastic snack food packaging


• Middle East & Africa: The Middle East & Africa comprises Saudi Arabia, the UAE, South Africa, Kuwait, Oman, Qatar, Nigeria, and Egypt. The per capita disposable income among individuals in the region has been increasing at a steady rate in recent years. This has led to increased purchases of snack food products that can be eaten on-the-go in the region.


• South America: South America is a developing region. The per capita disposable income among individuals in the region has been growing at a steady rate in recent years, indirectly driving the demand for flexible plastic packaging solutions in the region. The major countries included in South America, including Argentina and Brazil.