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Global Consumer Packaging Market: Packaging Innovations and Growth of E-Commerce Lend Momentum, says TMR
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As stated above, the rapid expansion of the e-commerce sector has had a tremendous impact on the consumer packaging market. As disposable incomes of consumers rise, their ability to spend of numerous personal care, home care, and consumer electronics grows. This results in higher sales of consumer goods, aided by the spurt of online shopping. This necessitates various packaging solutions. The demand for protective, compact, durable, and convenient packaging has also driven the consumer packaging market. However, various environmental and economic limitations threaten to hamper the market. In addition to this, the volatile nature of raw material prices will pose several challenges.
Consumer packaging makes use of varied materials, such as paper and paperboard, flexible plastic, rigid plastic, and glass. Although paper and paperboard are prominent materials used for packaging, flexible plastics are quickly becoming a crowd pleaser owing to easy manufacturing process, protection from deterioration and contamination, and greater compatibility with several storage conditions.
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Based on geography, the worldwide consumer packaging market comprises the Middle East and Africa, Europe, North America, Asia Pacific, and Latin America. Europe accounts for a major share in the overall market as the demand for consumer goods grows considerably. The rising preference for easy-to-use and cost-effective products and the availability of a wide range of beverages continue to boost the consumer packaging market.
Consumer packaging may be used in a number of end-use industries, such as homecare, personal care, food and beverages, and pharmaceutical. The food and beverages sector holds a significant share in the overall market as an end user and contributes to a major chunk of the revenue. The consistent rise in the demand for packaged and ready-to-eat foods is a key factor driving this segment.
The highly fragmented market for consumer packaging is known to have a large number of small and large manufacturers, resulting in intense competitive. Most companies offer a range of packaging solutions and materials to serve a wide group of end users and to gain a strong foothold in the global market.
Toyo Seikan Group Holdings, Owens-Illinois, Mondi Group, Huhtamaki OYJ, Tetra Pak, Evergreen Packaging, Crown Holdings, Reynolds Group Holding, Exopack Holding, Klockner Pentaplast Group, Amcor, Rexam, General Packaging Products, Clondalkin Group Holdings, Sonoco Products, Becton, Dickinson & Company, SF Holdings Group, Blue Ridge Paper Products, Polyoak Packaging Group, Polytainers, Tetra Laval international, Fusion Packaging Solutions, Pechiney Plastic Packaging, and Air Packaging Technologies are among the major companies in the consumer packaging market.
About TMR
TMR is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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