Strategic Insights into the Growth of the Packaging Products Industry (2025-2032)

Allied Market Research published a report, titled, "Packaging Products Market by Product Type (Plastic Strapping, Stretch Wrapping, Steel Strapping, and Tapes): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the "packaging products market" was valued at $24.4 billion in 2022, and is estimated to reach $36.3 billion by 2032, growing at a CAGR of 4.1% from 2023 to 2032.

Prime Determinants of Packaging Products market growth

The global packaging product market has experienced growth due to several factors such as the rise in innovations in packaging technology and the e-commerce boom. However, fluctuation of raw material prices of packaging products hinders the market growth to some extent. Moreover, the rise in adoption of sustainable practices offers remunerative opportunities for the expansion of the packaging product market.

The packaging products market report provides an overview of the industry's competitive landscape, aimed at assisting key players in enhancing their revenue share and maintaining competitiveness. The analysis employs Porter's Five Forces model and a PESTEL breakdown to identify the industry's competitive dynamics. Additionally, the study identifies key investment opportunities for stakeholders within the sector. These analytical frameworks are evaluated based on their CAGR and relative revenue. The study also emphasizes top entities, detailing their financial growth on a global scale.

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According to a report published by Allied Market Research, the industry is projected to showcase an impressive CAGR of 4.1% with an absolute revenue of $36.3 billion by 2032. It provides size estimates and forecasts for the packaging products market by evaluating various segments based on product type. Additionally, it includes a geographical analysis of these segments. Each section is examined at the regional level to gain a thorough understanding of the sector.

Top market players

Polymer Group Inc.
FROMM Group
Saint-Gobain
Hangzhou Youngsun Intelligent Equipment Co., Ltd
Berry Global Inc.
signode industrial group LLC
3M Company
Pacific Steel Strapping Corporation
Tesa SE
National Industries Inc.
Regional analysis

Regional analysis in the report enables businesses to understand the distinct preferences and behaviors of consumers in various regions. This insight is influenced by local cultural values, levels of technological adoption, and socioeconomic factors. As per the study, Asia-Pacific generated the largest revenue of more than two-fifths in 2022 and is predicted to maintain its leadership by 2032. Also, the same region is estimated to register the fastest CAGR of 4.4% throughout the forecast timeframe.

The rapid urbanization and industrialization in developing countries within this region have significantly boosted demand for the e-commerce sector, driven by the presence of companies like Amazon, Flipkart, and food delivery services. This trend positively impacts the demand for packaging products.

Technological advancements in the market

The Internet of Packaging is revolutionizing traditional packaging by improving brand-consumer interactions through technologies such as QR codes, RFID, and NFC. This smart packaging acts as a container and as a data channel and digital interface, providing security, authenticity, and connectivity.

Additionally, augmented reality in packaging enhances customer engagement by granting access to exclusive content, discounts, and tutorials. Furthermore, advancements in IoT allow packaging to incorporate diagnostic and indicator features, keeping consumers updated on the real-time status of their products.

Nanotechnology is vital at various stages of the packaging supply chain, enhancing materials, product safety, authentication, and tracking. By integrating nanoparticles into polymer chains, it boosts the barrier properties and strength of packaging materials. Additionally, it provides effective solutions for tracking and addressing counterfeiting challenges for both brands and packaging companies.

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Industry snapshot

In August 2024, a leading player in Kashmir's dairy industry, Khyber Agro Pvt Ltd, launched a new 1 kg curd product packaged in eco-friendly buckets.

During the same time, a food and beverage packaging manufacturer based in Lake Forest, Pactiv Evergreen Inc., Illinois, introduced Recycleware reduced-density polypropylene (RDPP) meat trays.

Again, in August 2024, a producer of compostable packaging solutions, Pakka, announced its second collaboration with a nutrition company renowned for its date-based healthy food products Brawny Bear. This partnership led to the launch of Date Energy Bars, which are India's first energy bars featuring compostable flexible packaging.

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To sum up, the AMR report on the global packaging products sector offers comprehensive insights into industry dynamics, key developments, regional trends, and the competitive landscape. This information empowers businesses and investors to make informed decisions, identify growth opportunities, and formulate strategies to succeed in the changing market.

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About Us
Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

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