AKRON, OH—Smithers forecasts the global flexo market will experience a 3.1 percent compound annual growth rate  (CAGR) to 2029, after having experienced modest growth at 1.1 percent CAGR in volume and 1.0 percent CAGR in value between 2019 and 2023.

Demand for flexo printed packaging, is closely linked to population growth, increasing urbanization, rising per capita GDP, and the number and relative affluence of the middle class in a particular region, according to the market analyst.

Smithers offered a number of insights relative to the state of flexographic packaging. Its synopsis follws.

Overall demand for flexo printing has been strongly influenced by world events, particularly the Covid-19 pandemic, war in Ukraine and conflict in the Middle East, which have led to effects including supply chain disruption, high inflation, and low consumer and business confidence.

Many of the end-use items that are flexo printed are essential items and the impact of world events  has been generally positive with volumes and value building from 2020 to 2022.

Another demand-side factor is growing concern over the use of plastics, which has led to a trend toward the use of paper-based materials.

Although this affects flexo printed materials to some degree, paper-based products, particularly packaging, are also commonly flexo printed, and the use of plastics for flexible packaging is forecast to continue to grow, albeit with some changes in construction.

Supply-side influences on demand for flexographic printed products include shortages and price increases of key raw materials–paper, plastics and chemical products–used to manufacture and print a wide range of packages.

Flexo printing volumes have also been affected in a positive way by successful competition with other analogue printing processes, such as offset litho and gravure. There has been some downside, due to increasing competition from digital printing.

During the pandemic, several large brands reduced the number of SKUs that they produce in order to reduce cost and complexity in their supply chains, which influenced run lengths and inventory holding.

Packaging is under a spotlight due to the high volume of materials used, and flexo is a widely used decoration process in packaging conversion. The drive from brands and consumers is being reinforced by various pieces of legislation being implemented in many regions, with single-use plastics a particular focus.

The rise of e-commerce is also a significant growth driver, although the effect on flexo printed product volumes is not uniform. 

Applications & Output
Flexographic printing output is growing across most application segments, with the exception of newspapers, bags and sacks, and envelopes.

Corrugated packaging, in particular has seen strong growth and this trend is forecast to continue, driven by economic demand, particularly from e-commerce and consumer-facing packaging. 

Flexo printing accounts for the overwhelming volume of corrugated packaging, and although there is some competition from digital printing as well as analogue processes, the volume of corrugated is increasing faster than any effects of erosion, due to process or product substitution.

Flexible packaging, labels and cartons are also seeing solid growth.

Digital printing is well established in labels as a mainstream technology that is competitive with flexo; however, the widespread adoption and strong ongoing sales of hybrid presses mean that flexo volumes are holding up and will continue to grow.

Flexible Packaging
Flexible packaging is increasingly being used throughout the packaging supply chain where its low cost, light weight and ability to preserve and protect the contents of a package make it a popular choice for a wide variety of consumer goods, including perishable items. 

Recent innovations by converters and suppliers have led to the development of recyclable mono-material constructions that are now widely used, with functional coatings used to provide any barrier properties that are necessary. 

Flexible packaging is the largest flexo printed packaging segment, with 40.3 percent of the volume, and the second-largest packaging segment after corrugated in terms of value. The majority of flexible packaging is flexo printing, which accounted for 52.2 percent of the printed volume in 2024.

As flexible packaging use increases, there is a continued refinement in terms of pack construction. For example, there is a shift away from the use of pillow packs to stand-up-pouches (SUP)–known as Doypacks in the US–and other shaped packages. This is driven by the need to improve product management and retail store efficiency, as well as improving the appearance of the packaged goods.

Regional Footprint
The three largest regions for flexo printing are Asia, North America and Western Europe, and these accounted for 81.0 percent of global volume and 83.1 percent of value in 2024.

Asia is by far the largest, with a volume of 1.9 trillion A4  (8.5 X 11-in)equivalents worth $83.1 billion, led by China, which has a strong export market as well as large domestic demand for flexo printed end-use products.

Asia is forecast to experience strong growth of 5.8 percent CAGR in volume and 5.2 percent CAGR in value for the last five years of the review period.

North America and Western Europe are mature markets for flexo printed products, with the former growing in volume by 2.3 percent CAGR and the latter by 1.7 percent CAGR in volume for the period 2024 to 2029.