Press release
Packaging Products Market Size, Trends And Global Forecast Report 2024 To 2033
Packaging Products Market
Market Size And Growth Forecast:
The packaging products market size has grown strongly in recent years. It will grow from $100.8 billion in 2023 to $109.99 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to environmental awareness, consumer preferences, cost trends, regulatory compliance, brand image and differentiation.
The packaging products market size is expected to see strong growth in the next few years. It will grow to $149.11 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to sustainability initiatives, e-commerce growth, changing demographics, supply chain resilience, brand transparency. Major trends in the forecast period include personalized and customizable packaging, digital printing technology, recyclable and biodegradable materials, augmented reality packaging, supply chain resilience and packaging safety.
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Market Segmentation:
The packaging products market covered in this report is segmented -
1) By Type: Paper and Cardboard, Rigid Plastic, Metal, Flexible Plastic, Glass, Wood, Textile, Other Types
2) By Product: Bottles And Can, Containers And Jars, Bags, Pouches, Wraps
3) By End-Users: Food, Beverages, Healthcare, Cosmetics, Household Products, Chemicals
Major Driver - E-Commerce Platform Expansion Fuels Surge In Packaging Products Market
Growth of e-commerce platforms is expected to propel the growth of the packaging products market going forward. E-commerce (electronic commerce) refers to the purchase and sale of products and services, as well as the exchange of payments or data, through an electronic network, usually the internet. Rising e-commerce requires large number of packaging products as they are used to transport a product to a customer after they buy it online. For instance, in January 2023, according to the report shared by tidio, a Poland-based digital product company, online purchases now total 2.14 billion shoppers, a huge growth from just a few years ago. With a 7.9 billion-strong global population, 27% of all people alive today are digital consumers. Globally, there were 2.14 billion digital buyers in 2021, up from 1.92 billion in 2019. Therefore, the growth of the e-commerce platform is driving the growth of the packaging products market.
Competitive Landscape:
Major companies operating in the packaging products market report are Aetna Group, International Paper Co, Ball Corporation, Amcor plc, Berry Global plc, Tetra Pak Inc., Crown Holdings Inc., Stora Enso Oyj, Mondi plc, Graphic Packaging Holding Company, Avery Dennison Corporation, Packaging Corporation of America, Owens-Illinois Group Inc., Sealed Air Corp, Huhtamaki Oyj, Krones Group, Reynolds Group Inc., Coesia Group, Marchesini Group, Gerresheimer AG, Yunnan Energy New Material Co Ltd., Altair Product Design Inc., Adelphi Group of Companies, Oliver Packaging & Equipment Company, American Thermal Instruments Cavu Group, Sun Packaging Technologies Inc., Merlin Packaging Technologies, Graham Packaging Company, Bosch Packaging Technology, Fuji Machinery Co Ltd.
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Top Trend - Industry Leaders Embrace Recyclable Packaging To Redefine Market Dynamics
Major companies operating in the packaging products market are increasing their focus on introducing recyclable packaging products to gain a competitive edge in the market. Recyclable packaging products are materials and containers intended to be collected, processed, and reused as raw materials in making new packaging or other products. For instance, in August 2023, Amcor plc, an Australia-based packaging company, launched AmFiber Performance Paper Packaging. This new packaging solution has been pre-qualified by How2Recycle and meets the repulpability standards for curbside recycling. It can be recycled in most paper recycling waste streams and is widely recyclable. AmFiber Performance Paper offers an improved barrier and shelf life, making it suitable for various food products. It runs on existing flexible packaging equipment and achieves machine speeds comparable to plastic-based packaging.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Packaging Products Market Characteristics
3. Packaging Products Market Trends And Strategies
4. Packaging Products Market - Macro Economic Scenario
5. Packaging Products Market Size And Growth
…..
27. Packaging Products Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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