Packaging Market Research Report Information By Materials (Flexible Packaging, Rigid Plastic packaging, Board Packaging, Glass, and Others) End-Use Industry (Food, Beverages, Healthcare, Cosmetics, Consumer Goods and Industrial), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2030.

Global Packaging Market Overview

Packaging Market Size was valued at USD 250 Billion in 2022 and is projected to grow from USD 290 Billion in 2023 to USD 1500 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.00% during the forecast period (2023 - 2030). Changing consumer tastes & preferences and increasing demand from several end-use industries, such as food, beverages, medical, cosmetics, personal care, and others are the key market drivers enhancing market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Packaging Market Trends

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  Growth of the organized retail sector to boost market growth

  
  

The growth of the organized retail sector has indeed played a significant role in driving the packaging market. Organized retail refers to the large-scale retailing of products through organized outlets or stores, such as supermarkets, hypermarkets, and department stores. These organized retailers require large quantities of products to be packaged and transported in a manner that ensures the safety and quality of the products. Packaging plays a crucial role in the retail industry, as it protects the products from damage during transit, helps to maintain the quality and freshness of the products, and provides an attractive display to attract customers. As the organized retail sector has grown in size and importance, the demand for packaging has also increased.

The packaging industry has responded to this demand by developing innovative packaging solutions that are not only functional but also visually appealing, eco-friendly, and cost-effective. For example, flexible packaging has become increasingly popular in the retail sector, as it is lightweight, easy to transport, and can be customized to meet the specific needs of retailers and customers. In addition to packaging materials, the growth of the organized retail sector has also driven the development of packaging machinery and equipment. This includes machines for filling, sealing, and labeling products, as well as automated systems for palletizing and transporting products within warehouses and distribution centers. Overall, the growth of the organized retail sector has created a significant demand for packaging solutions that are both effective and efficient, and the packaging industry has responded with a range of innovative products and technologies to meet this demand. Therefore, such factors related to Packaging have enhanced the Packaging market CAGR across the globe in recent years.

Packaging Market Segment Insights

Packaging Material Insights

The  Packaging Market segmentation, based on material, includes Flexible Packaging, Rigid Plastic packaging, Board Packaging, Glass and Others. Flexible packaging is made of materials such as plastic films, paper, and aluminum foil, and is used to package a wide range of products, including food and beverages, personal care products, and pharmaceuticals. The flexibility of this packaging makes it easy to store, transport, and use, and it also offers advantages in terms of product protection and shelf life.

Packaging End-Use Insights

Based on end-use, the  Packaging Market segmentation includes Food & Beverages, Healthcare, Cosmetics, Consumer Goods and Industrial. The Food & Beverages segment dominated the market in 2022 and is projected to be the faster-growing segment during the forecast period, 2023-2030. Packaging plays a crucial role in the food and beverage industry, as it helps to protect the products during transport and storage, and also ensures their safety and quality. The food and beverage industry uses a wide range of packaging materials, including flexible packaging, rigid plastic packaging, paper and board packaging, and metal packaging, among others. These all factors for Packaging positively impact market growth.

Figure 2:  Packaging Market, by Material, 2022 & 2030 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Packaging Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific is currently the largest market for packaging in the world, accounting for the largest market share in the  Packaging Market. This can be attributed to several factors, including the region's large and growing population, rising consumer spending, and increasing urbanization. As the population in Asia-Pacific continues to grow, so does the demand for packaged goods, particularly in the food and beverage and healthcare industries. Rapid urbanization in the region has also led to the development of organized retail and e-commerce sectors, which has further driven the demand for packaging solutions. In addition, many companies in the packaging industry have shifted their manufacturing operations to Asia-Pacific, attracted by the region's low labor costs and favorable business environment. This has resulted in the establishment of numerous packaging facilities and the growth of the packaging industry in the region.

Further, the major countries studied in the market report are The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil

Figure 3:  PACKAGING MARKET SHARE BY REGION 2022 (%)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe’s Packaging market accounts for the third-largest market share. Europe has a highly developed and competitive packaging industry, with a strong emphasis on innovation, sustainability, and quality. The food and beverage industry is a significant end-use segment for the packaging industry in Europe, with a focus on sustainable packaging materials and technologies that can extend the shelf life of products and reduce food waste. Further, the Germany Packaging market held the largest market share, and the UK Packaging market was the fastest-growing market in the European region.

North America is a significant market for packaging, with a strong emphasis on sustainable packaging solutions and innovative packaging technologies. The region is home to many leading packaging companies and is a major consumer of packaged goods, particularly in the food and beverage, healthcare, and consumer goods sectors. The pandemic has led to an increase in demand for packaged goods, as consumers have shifted towards online shopping and home delivery services. This has resulted in a surge in demand for packaging materials, particularly in the e-commerce and food and beverage sectors. Moreover, the U.S. Packaging market held the largest market share, and the Canada Packaging market was the fastest-growing market in the North American region.

Packaging Key Market Players & Competitive Insights

Major market players are spending a lot of money on R&D to increase their product lines, which will help the Packaging market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Packaging industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth for Packaging. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their global presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Packaging industry must offer affordable products.

Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the global Packaging industry to benefit customers and expand the market sector. Major Packaging market players, including Amcor PLC, Sealed Air Corporation, Mondi PLC, Coveris Management GMBH, Berry Global, Inc., Ball Corporation, Crown Holdings, Inc., Alpla, Graphic Packaging Holding, Tetra Pak, Owens Illinois, Inc., and others, are attempting to increase market demand by funding R&D initiatives.

Amcor PLC is a global packaging company headquartered in Zurich, Switzerland, with operations in more than 40 countries around the world. The company specializes in developing and manufacturing a wide range of packaging solutions, including flexible and rigid packaging, closures, and specialty cartons, for a variety of end markets. Amcor operates in two primary business segments: Flexibles and Rigid Packaging. The Flexibles segment offers a wide range of flexible packaging solutions, including pouches, bags, wraps, and labels, for food, beverage, healthcare, and industrial applications. The Rigid Packaging segment offers rigid plastic, metal, and glass packaging solutions for food, beverage, healthcare, and personal care applications.

Sealed Air Corporation is a global packaging company headquartered in Charlotte, North Carolina, USA, with operations in more than 50 countries around the world. The company specializes in creating sustainable packaging solutions that help to protect and preserve food, medical supplies, and other perishable goods. Sealed Air operates in two primary business segments: Food Care and Product Care. The Food Care segment provides packaging solutions for the food and beverage industry, including vacuum packaging, tray sealing, and case-ready packaging systems. The Product Care segment provides protective packaging solutions for a range of end markets, including e-commerce, electronics, and industrial goods.

List of the Key Major Companies in the Packaging market includes

• Amcor PLC


• Sealed Air Corporation


• Mondi PLC


• Coveris Management GMBH


• Berry Global, Inc.


• Ball Corporation


• Crown Holdings, Inc.


• Alpla


• Graphic Packaging Holding


• Tetra Pak


• Owens Illinois, Inc among others

Packaging Industry Developments

May 2022: Berry Global Group, Inc. is expanding its business in India and has successfully started constructing its new manufacturing facility and global Centre of Excellence in Bangalore, India.

August 2021: Amcor launched a proprietary healthcare lidding technology in collaboration with Johnson & Johnson.

July 2021: Ball Corporation announced the expansion of its new aluminum beverage packaging plants in the UK & Russia.

Packaging Market Segmentation

Packaging Material Outlook

• Flexible Packaging


• Rigid Plastic packaging


• Board Packaging & Glass


• Others

Packaging End-Use Outlook

• Food & Beverages


• Healthcare & Cosmetics


• Consumer Goods


• Industrial

Packaging Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America