Global and China's Plastic Flexible Packaging Industry market size

Global and China's Plastic Flexible Packaging Industry market size

As the trend of consumption upgrading becomes increasingly apparent, the global flexible packaging industry shows steady growth and has good market prospects. Increased environmental awareness and the need for sustainable development have driven innovation in flexible packaging materials. It is expected that the global flexible packaging market will continue to maintain strong growth momentum in the next few years, bringing more opportunities to industry participants.

With the trend of consumption upgrading becoming increasingly evident, the global plastic flexible packaging market continues to exhibit steady growth and promising prospects. According to the "2024-2029 Global and Chinese PET Plastic Packaging Market Status and Future Development Trends" report by the China Business Industry Research Institute, the global plastic flexible packaging market size reached USD 152.28 billion in 2023. Analysts from the institute forecast that the market will grow to USD 159.78 billion in 2024, with a compound annual growth rate (CAGR) of 5.46% from 2024 to 2027, ultimately reaching USD 187.42 billion by 2027.

As domestic urbanization advances and consumer spending increases, coupled with continuous technological advancements in the flexible packaging industry, China's plastic flexible packaging market is expanding rapidly. The "2023-2028 China Plastic Flexible Packaging Industry Development Insights and Market Prospects Forecast Research Report" by the China Business Industry Research Institute indicates that the market size in China was USD 17.22 billion in 2023. Analysts predict that this will rise to USD 18.61 billion in 2024, with a CAGR of 7.16% from 2024 to 2027, reaching USD 22.9 billion by 2027.