July 19, 2024
ASEAN Flexible Packaging Market

ASEAN flexible packaging market is expected to witness high growth owing to rising consumption of packaged foods.

The ASEAN flexible packaging market is estimated to be valued at US$ 5,500 Mn in 2023 and is expected to exhibit a CAGR of 4.5 % over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Flexible packaging is used for packaging of various products ranging from food and beverages to consumer goods. The key advantages of flexible packaging are that they provide durability, cost-effectiveness, lightweight, barrier protection and easily customizable according to various product shapes and sizes. With rising demand for packaged and ready-to-eat foods, flexible packaging finds widespread use across ASEAN countries.

Market key trends:

One of the key trends driving growth in the ASEAN flexible packaging market is the rising consumption of packaged foods. Busy lifestyles and rapid urbanization have fueled the demand for convenience foods that have long shelf-life and re-sealability. Flexible packaging caters well to these needs as they effectively maintain freshness of contents and allow re-sealing. They help extend the shelf life of packaged foods without refrigeration. The lightweight and customizable nature of flexible packaging also allow effective utilization of transportation and storage space. This has further boosted their adoption over rigid forms of packaging. Innovation and introduction of next-gen materials for flexible packaging are also adding to the market growth.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is moderate as the ASEAN flexible packaging market requires high initial capital investment for setting up production facilities. However, the availability of raw materials provide opportunities for new players.

Bargaining power of buyers: The bargaining power of buyers is high as the packaged goods are available from various suppliers. Buyers can negotiate on price and quality.

Bargaining power of suppliers: The bargaining power of suppliers is moderate as raw materials like plastic resins, paper, and aluminium foil are supplied by few large players globally.

Threat of new substitutes: The threat of new substitutes is low as flexible packaging offers benefits like lightweight and cost-effectiveness over other packaging types.

Competitive rivalry: Intense due to presence of global players.

SWOT Analysis

Strength: Wide applications in food & beverage industry. Flexible and sealable properties make it ideal for packaging.

Weakness: Concerns regarding non-biodegradability and environmental impact of plastic packaging. Higher costs than traditional packaging.

Opportunity: Growth in e-commerce sector driving demand. Developing nations promoting packaged food consumption.

Threats: Stringent regulations around plastic waste disposal. Increase in raw material prices impacts costs.

Key Takeaways

The global ASEAN Flexible Packaging Market Size is expected to witness high growth, exhibiting CAGR of 4.5% over the forecast period, due to increasing consumption of convenient and ready-to-eat food products. The flexible packaging solutions provide moisture and gas barriers while maintaining lightweight properties.

Regional analysis – The ASEAN region dominates the flexible packaging market with majority of demand coming from Indonesia, Thailand, and Singapore. Thailand is the largest market owing to significant food manufacturing industry. Countries like Vietnam and Malaysia are expected to be the fastest growing markets during the forecast period.

Key players operating in the ASEAN flexible packaging market are Amcor Limited, Prepack Thailand Co., Ltd., Berry Plastics, Mondi Group, Sealed Air Corporation, Sonoco Products Company, Constantia Flexibles Gmbh, and AR Packaging Group. The key players focus on expanding their production capacities and capabilities through strategic acquisitions and partnerships to strengthen market presence in the high growth ASEAN region.


1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it