Press release
FMCG Packaging Market Growing Technology and Opportunities by 2030
The global fast-moving consumer goods (FMCG) packaging market is expected to witness strong growth during the forecast period between 2021 and 2031.The food and beverages industry has undergone massive changes in the last few years owing to factors such as changing consumer preferences, which has caused FMCG manufacturers to adopt innovative ways to package food products. FMCG products get sold quickly and a majority of these products are inexpensive.
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The packaging aspect of FMCG products is crucial as it helps in the correct positioning of the product in the overall ecosystem. The right positioning of the product has emerged as an important medium for communication and a tool, which has helped companies differentiate product appearance, from that of competitors.
Rising demand for nutritional food products among consumers has led to manufacturers innovatively packaging food products. Advancements to packaging technologies have emerged as the key growth driver for the global FMCG packaging market.
In addition to this, growth in the e-commerce industry owing to increasing demand for protective packaging to deliver small-sized products is expected to drive the FMCG packaging market in the coming years.
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The food and beverages end-use segments are expected to contribute the most to the growth of the FMCG packaging market in the years ahead owing to increased demand for food and beverage products and technological innovations to packaging methods, globally.
The plastic packaging product segment is expected to make the largest contribution to the overall FMCG packaging market, owing to its cost-effective nature.
The global FMCG packaging market comprises several well-established players, who have made a mark on the global market, through years of consistent and trustworthy performance.
However, these leading players are consistently evolving, by adopting different growth strategies such as novel product launches in a bid to remain competitive in the overall FMCG packaging market.
Research and development activities to produce improved quality of products could be a key growth strategy for the prominent FMCG packaging market players, in the coming years.
Key players in the FMCG packaging market could also collaborate with the lesser-known players in a bid to expand their market presence and increase their revenue share.
Leading FMCG players have progressed towards customization of products in a bid to meet the requirements of large group of consumers. This could open fresh avenues, in terms of revenue growth, for emerging players in the global FMCG packaging market, in the years ahead.
Some of the leading players in the FMCG packaging market include Ball Corporation, Berry Plastics Corporation, DS Smith PLC, All American Containers, Kraft Foods, Crown Holdings, and WestRock Company.
The global FMCG packaging market is divided into five regions, namely, North America, Asia Pacific, Europe, Middle East and Africa, and Latin America.
Asia Pacific is expected to witness substantial growth in the global FMCG packaging market in the coming years. Rapid urbanization in countries such as India and China is anticipated to be the key growth driver for the FMCG packaging market, in Asia Pacific.
North America is expected to witness strong growth in the FMCG packaging market in the years ahead owing to the strong growth rate in the food and beverages industries in countries such as the U.S, Mexico, and Canada.
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Also, the presence of leading players in the FMCG packaging market players in these countries is expected to bolster the growth of the market, in North America.
Other regions such as Latin America and Middle East and Africa are expected to witness moderate growth in the overall FMCG packaging market, in future.
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