Growing demand for the product in the food and beverage sector is expected to stir up the growth of the market over the forecast period. The Global Flexible Packaging Market size is expected to reach USD 293.03 billion by 2022, according to a new report by Grand View Research, Inc., progressing at a CAGR of 4.7% during the forecast period. Plastic is the most widely used raw material for flexible packaging. Rising adoption of compact packaging has given impetus to the demand for flexible bags and pouches, encouraging entry of new market participants in the near future. These materials have high potential in the market on account of rising consumer preference, low shipping costs, and less storage requirements. Major companies focus on innovation to cater to target consumers by launching products in extremely small size packs such as pillow packs and sachets, which comprise diverse products from shampoos, conditioners, face creams, and toothpastes to chewing tobacco and ot