Industry research
Scope
Europe
Companies
116
Table of contents
What does the flexible packaging & labelling market landscape look like in Europe?
The broader European flexible packaging market is highly consolidated, with the likes of Amcor Group, Mondi Group, Huhtamaki and Constantia Flexibles having a dominant presence across geographies and product niches. This market structure stems from the capital-intensive nature of operations, economies of scale in production and procurement, strict regulatory environment and preferences among large-scale customers. In this environment, M&A activity is driven by consolidators aiming to achieve scale benefits and expand into new markets. The European labelling landscape is less homogenous as pure-play labelling specialists face packaging generalists with in-house labelling capabilities and internal labelling divisions of end-customers.
What is the level of investor activity in Europe's flexible packaging & labelling industry?
Investor-led interest has been moderate, with ~36% of identified assets being sponsor-backed (May 2025). Key reasons for identified sponsor activity are related to (i) stable product demand in resilient end-markets and (ii) potential for reorientation towards high-growth markets (e.g. sustainable packaging). On the other hand, (i) asset-heavy operations, (ii) strict EU packaging regulations and (iii) volatile raw material prices represent headwinds for investors.
What are the key ESG considerations in Europe's flexible packaging & labelling industry?
The ESG agenda in the flexible packaging industry mainly revolves around environmental and social issues. While flexible packaging performs better than rigid alternatives on a range of sustainability metrics, the incumbents must adhere to the strict European regulations pushing for more recyclable packaging and less waste generated. The identified players adapt to this by shifting their offerings towards paper-based packaging alternatives, recyclable plastics and biodegradable compounds. From a social perspective, key concerns involve the safety of both workers and consumers. To address these challenges, identified players prioritise workplace safety through internal awareness programmes, while also following a strict clean manufacturing and quality control approach to ensure the safety of the marketed products.
The global flexible packaging market is projected to grow from ~$291.2bn in 2023 to ~$341.6bn by 2028, registering a +3.2% CAGR during the period (Smithers, August 2023)
The European flexible packaging market was estimated at ~$58.6bn in 2023 and is expected to reach ~$76.9bn by 2028 (+5.6% CAGR 2023-2028; Technavio, February 2024)
Shifts toward convenience, sustainability and cost-efficiency reshape the packaging, storage and transportation of products, with flexible packaging increasingly replacing rigid formats due to lower material use, reduced transportation costs and better shelf efficiency (Packaging Gateway, March 2025)
Tailwinds in e-commerce as vendors increasingly use flexible packaging due to high adaptability and reduced environmental impact (HB Fuller, April 2025; Mondi Group, February 2025)
Label conversion is poised for higher adoption of AI and automation with more efficient workflows across design, customisation, production and quality control (Konica Minolta, December 2024)
Strict regulations related to packaging waste (e.g. single-use plastic bans) are expected to reduce production volumes, as well as increase compliance costs and pressure margins for producers (European Council, December 2024)
Health awareness steers food consumption away from refreshments (e.g. confectionery, baked goods), which rely heavily on flexible packaging for convenience and shelf life (Packaging Digest, April 2025; Huhtamaki, May 2025). This puts mid-market players under significant pressure, especially as more scarce and expensive sustainable materials are becoming the norm (interview by Gain.pro)
Negative consumer sentiment towards flexible plastic packaging can lead to the displacement of certain products in favour of alternatives (Flexible Packaging Europe, November 2024; The Guardian, October 2024)
With the full report, you’ll gain access to:
Detailed assessments of the market outlook
Insights from c-suite industry executives
A clear overview of all active investors in the industry
An in-depth look into 116 private companies, incl. financials, ownership details and more.
A view on all 467 deals in the industry
ESG assessments with highlighted ESG outperformers
