FMCG Packaging Market Analysis, Top Companies, Trends, Forecast 2023-2028

The global FMCG packaging market size reached US$ 716.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 943.0 Billion by 2028, exhibiting a growth rate (CAGR) of 4.41% during 2023-2028.

The rising awareness of sustainable practices and the benefits of convenient packaging, coupled with cutting-edge innovations, such as smart labels and eco-friendly materials, are propelling the growth of the FMCG packaging market.

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Factors Affecting the Growth of the FMCG Packaging Industry:

• Growing Emphasis on Sustainability:

The growing emphasis on consumer convenience and sustainability represents one of the primary factors propelling the market growth. Additionally, the rising preferences of individuals for products that are easy to use, store, and dispose of are strengthening the growth of the market. Along with this, continuous innovations in packaging solutions, such as resealable pouches and eco-friendly materials, are facilitating the market growth. Furthermore, several leading brands are focusing on developing packaging that clearly communicates recycling instructions and uses symbols recognized by consumers.

• Advancements in Packaging Technology:

Continuous advancements in the packaging technology are creating a positive outlook for the market. The introduction of smart packaging solutions, incorporating QR codes, near-field communication (NFC), and augmented reality (AR), provide consumers with interactive experiences and access to additional product information. These technologies enhance consumer engagement and brand loyalty. Moreover, advanced packaging machinery has improved production efficiency and reduced costs for manufacturers, contributing to the market growth. In addition, the increasing adoption of automation, robotics, and data analytics is streamlining manufacturing, resulting in increased efficiency and reduced costs for FMCG manufacturers.

• Rise of the E-Commerce Industry:

The proliferation of the e-commerce industry is influencing the market positively. In addition, the increasing reliance of individuals on online shopping channels is driving the need for robust and secure packaging that ensures product safety during transit. Along with this, various brands are increasingly using e-commerce as a platform to introduce new products, creating demand for eye-catching and informative packaging designs that stand out in the digital marketplace. Moreover, the development of informative packaging with clear product descriptions, usage instructions, and benefits is helping people make informed choices and improving brand credibility.

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FMCG Packaging Market Report Segmentation:

By Packaging Type:

• Flexible Packaging
• Rigid Packaging

Based on the packaging type, the market has been segmented into flexible packaging and rigid packaging.

By Material:

• Paper
• Plastic
• Metal
• Glass
• Others

Plastic accounted for the largest market share in the market due to its versatility, cost-effectiveness, and ability to meet diverse packaging needs while ensuring product protection and shelf life.

By End Use Industry:

• Food and Beverages
• Cosmetic and Personal Care
• Others

Food and beverages hold the largest share in the market as they are essential consumer goods with high demand, necessitating diverse and protective packaging solutions to meet a wide range of product types and packaging requirements.

Regional Insights:

• North America
o United States
o Canada
• Asia-Pacific
o China
o Japan
o India
o South Korea
o Australia
o Indonesia
o Others
• Europe
o Germany
o France
o United Kingdom
o Italy
o Spain
o Russia
o Others
• Latin America
o Brazil
o Mexico
o Others
• Middle East and Africa

Asia Pacific's dominance in the FMCG packaging market is attributed to its vast population, growing middle class, and increasing consumer demand for packaged goods, driving the need for extensive packaging solutions in the region.

Global FMCG Packaging Market Trends:

The rising awareness among the masses about the harmful impact of plastic packaging is facilitating the market growth. Additionally, several packaging manufacturers are exploring innovative materials, such as compostable plastics, paper-based packaging, and plant-based alternatives. Moreover, the escalating demand for lightweight packaging solutions is offering a favorable market outlook. It minimizes material usage, decreases transportation costs, and lowers carbon emissions, aligning with sustainability goals. Furthermore, the leading market players are redesigning packaging to be more space-efficient, optimizing shelf space, and reducing waste.

Leading Companies Operating in the Global FMCG Packaging Industry?

• Albéa Group
• Amcor plc
• AptarGroup Inc.
• Ball Corporation
• Berry Global Inc.
• Consol Glass (Pty) Ltd
• Crown Holdings Inc.
• DS Smith PLC, Graham Packaging Company
• Sealed Air Corporation
• Sonoco Products Company
• Tetra Pak International S.A.
• Toyo Seikan Group Holdings Ltd.
Other Key Points Covered in the Report:
• COVID-19 Impact
• Porters Five Forces Analysis
• Value Chain Analysis
• Strategic Recommendations

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This release was published on openPR.