The MEA flexible packaging market is expected to grow from US$ 8,692.10 million in 2021 to US$ 10,683.36 million by 2028. It is estimated to grow at a CAGR of 3.0% from 2021 to 2028.
In a nutshell, e-commerce effectively erases the huge investments or outlays on physical infrastructure to develop a regional presence, leading to a revolution in how business is conducted across the region. Developing countries present solutions to many prevalent problems, such as providing remote healthcare & education, food & beverages, personal care & cosmetics, and industrial.
Moreover, the immense potential that e-commerce is acting as a powerful tool in reducing the gap and giving developing countries the chance to achieve economic equality. The growing telecommunications infrastructure and rising consumer demand for food and beverages ensure that developing countries have become strong contenders in the regional e-commerce sector.
According to "Export Enterprises SA," in October 2021, Tanzania will be Africa's fourth largest e-commerce consumer base. The number of online shoppers is estimated at 1,593 million, accounting for 21% of total Internet users and 5.3% of the population. Hence, the retail sector is growing through e-commerce and simultaneously witnessed lucrative growth for the flexible packaging market in emerging economies.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the MEA flexible packaging market. The MEA flexible packaging market is expected to grow at a good CAGR during the forecast period.
MEA Flexible Packaging Market Revenue and Forecast to 2028 (US$ Million)
MEA Flexible Packaging Market Segmentation
The MEA flexible packaging market is segmented based on material, product type, application, and country. Based on material, the market is segmented into plastics, paper, aluminum foils, and others. The plastic segment dominated the market in 2021.
Based on product type, the market is segmented into pouches, bags, films and wraps, and others. The bags segment dominated the market in 2021.
Based on application, the market is segmented into food and beverages, medical and pharmaceutical, personal care and cosmetic, industrial, and others. The food and beverages segment dominated the market in 2021.
Based on country, the regional market is segmented into the UAE, Saudi Arabia, South Africa, and the Rest of the MEA. The Rest of MEA dominated the market in 2021.
Amcor plc, Berry Global Inc., Constantia Flexibles, Flexpak services, Huhtamaki, Mondi, Sealed Air, Sonoco Products Company, and Transcontinental Inc. are the leading companies in the regional market.