Current and Emerging Consumer Packaging Market Trends and Their Impact on Global Industry Growth 2016 - 2024
One of the most prominent trends in the global consumer packaging market of present times is the increased attention given to the reduction of the amount of material used in producing the packaging product by packaging manufacturers. Ways of reducing the amount of environmentally harmful polymers used in packaging is, especially, one of the most researched areas in the consumer packaging market presently.
Focus on the development of new varieties of packaging materials capable of preventing contamination of foods and beverages packed, materials with a higher quotient of reusability or biodegradability, and designs that make the product more convenient to use are also some of the market’s key trends in present times.
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Global Consumer Packaging Market: Overview
Packaging for the consumer goods industry plays a key role in making the product aesthetically appealing for the potential buyer and delivering products to the consumer in a sufficiently sophisticated, safe, convenient, and appropriate manner.
Serving a large number of industries that produce tangible goods to be sold to large number of consumers, the packaging industry forms the cornerstone of any consumer goods business. The consumer packaging market has witnessed a significant rise in research and development activities aimed at the development of innovative packaging materials and product designs.
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Some of the key companies operating in the highly competitive global consumer packaging market are Polyoak Packaging Group, Owens-Illinois, Air Packaging Technologies, Tetra Pak, Becton, Dickinson & Company, Crown Holdings, Rexam, Amcor, Blue Ridge Paper Products, Clondalkin Group Holdings, Evergreen Packaging, General Packaging Products, Fusion Packaging Solutions, Exopack Holding, Huhtamaki OYJ, Mondi Group, Klockner Pentaplast Group, Polytainers, Pechiney Plastic Packaging, Sonoco Products, Reynolds Group Holding, Tetra Laval international, Toyo Seikan Group Holdings, and SF Holdings Group.
The food and beverages industry is the leading contributor of revenue to the global consumer packaging market and is expected to continue being the primary and the most lucrative consumer of the market in the next few years. The vast rise in consumption of packaged food products across the globe is expected to be the chief factor driving the demand for packaging products across this industry in the next few years as well.
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Global Consumer Packaging Market: Geographical and Competitive Dynamics
In terms of geography, the global consumer packaging market is driven by emerging economies across regions such as Asia Pacific and Middle East and Africa. The strengthening economies across these regions and the resultant rise in consumption of a variety of consumer goods is expected to drive the need for more reliable and sophisticated packaging products in these regions in the next few years.
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