Top 21 Flexible Packaging Companies, Worldwide 2023: MarketsandMarkets 360 Quadrant Revealed

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30 Aug, 2023, 11:00 ET

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CHICAGO, Aug. 30, 2023 /PRNewswire/ -- MarketsandMarkets has released 360 Quadrant for Top 21 Flexible Packaging Companies, Worldwide 2023 to help businesses make quicker and more informed decisions. Companies' market presence and product footprint are used to build quadrants, which will be revised annually.

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The global Flexible Packaging Market was valued at USD 248.9 billion in 2022 and is projected to reach USD 315.5 billion by 2027 growing at a CAGR of 4.8% from 2022 to 2027. This growth can be attributed to key factors such as downsizing packaging material usage, cost-effectiveness & increased shelf life, rising demand from end-use sectors, and increasing e-commerce sales.

Further the growing health & personal care industry in economies such as China, Japan, and India has spurred the growth of the flexible packaging industry. It was observed that China led the flexible packaging market both in the Asia Pacific region and on a global level. However, the stringent government regulations and poor infrastructure facilities for recycling act as the main restraints for the growth of this market.

Unveiling the Market Leaders: Honoring Excellence in Flexible Packaging Markets

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Categorization Of Flexible Packaging Companies On 360 Quadrants

Flexible Packaging companies' evaluation was conducted for 100 companies, of which the top 21 were categorized and placed in a quadrant under Market Leaders, Contenders, Innovators, and Emerging Companies.

All the companies in the market leader segment demonstrated strong offerings and the ability to influence the market's direction with their deep expertise. These companies include Amcor, Berry Global, Mondi, Sonoco, Constantia Flexibles, Sealed Air, and TC Transcontinental. These companies dominate the market, together accounting for approximately 20-25% of the entire Flexible Packaging market.

Huhtamaki and DS Smith have been recognized as contenders in the flexible packaging quadrant. The contenders are companies with a strong market presence, excelling in specific niches. While not offering the full range of market leaders, they wield significant influence and impact. These companies focus on specific technologies and aim to establish leadership within their chosen segment.

In the quadrant, innovators are highly innovative companies with a strong product portfolio, but a smaller market presence compared to leaders. They push industry boundaries with forward-thinking approaches and have the potential to become major players despite lower corporate growth strategies. Printpack, UFlex, ProAmpac, Aluflexpack, and PPC Flexible Packaging have been identified as the innovators in the quadrant.

The 360 Quadrants effectively evaluates emerging companies in the Flexible Packaging industry. They focus on specific areas and offer specialized knowledge, targeted support, flexible terms, and competitive prices. While they may have limited capabilities, they are preferred for specific use cases. These companies employ strategies to expand sales and reach a broader client base. This segment of the quadrant has identified Novolex, Ahlstrom, Novus, Cosmo First, Wihuri, Gualapack, and Bischof+Klein as emerging companies.

Evaluation Criteria

The vendor evaluation was conducted on over 100 companies of which the top 21 were categorized and recognized as the quadrant leaders. Factors such as revenue, geographic presence, growth strategies, investments, channels of demand, and sales strategies for the market presence of the flexible packaging quadrant. While the top criteria for product footprint evaluation included Flexible Packaging Market by Packaging Type (Pouches, Bags, Roll Stock, Films & Wraps, Others), Printing Technology (Flexography, Rotogravure, Digital Printing, Others), Material (Paper, Plastic, Metal), End-Use Industry (Food, Beverages, Pharmaceuticals & Healthcare, Personal Care & Cosmetics, Others), and Sustainable Initiatives.

360 Quadrants Scoring Methodology

360 Quadrants employs a comprehensive and transparent scoring methodology to evaluate companies. It identifies relevant evaluation criteria, collects and validates data from multiple sources, and employs an algorithm that considers parameter weights to generate scores. Normalization ensures fair comparisons and the aggregated scores categorize solutions into quadrants such as Market Leaders, Contenders, Innovators, and Emerging Companies. This unbiased approach equips users with accurate information, empowering them to make well-informed decisions and select solutions that best suit their needs and objectives.

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The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research and facilitates analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

360 Quadrants will also be launching 100 quadrants in Chemicals and Materials, Packaging, Energy & Power, and Healthcare.

Visit https://www.360quadrants.com to access our interactive quadrants.

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SOURCE MarketsandMarkets