How Has the Packaging Market Size Evolved in Recent Years?
The packaging market has seen considerable growth due to a variety of factors.
• The steady growth of the packaging market size has been observed in recent years. It is expected to expand from $1133.65 billion in 2024 to $1182.85 billion in 2025, recording a compound annual growth rate (CAGR) of 4.3%.
This growth during the historical period is due to the increased use of packaged goods, enhanced living standards, a surge in the use of paper packaging, the transition of the food and beverage industry from plastic to paper packaging, and varying prices of raw materials.
What Is The Forecast For The Packaging Market Size?
The packaging market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are high for steady growth in the packaging market over the next few years, with projections suggesting it will increase to $1397.06 billion in 2029, experiencing a compound annual growth rate (CAGR) of 4.2%.
The predicted growth during the forecast period can be credited to the increasing demand for sustainable packaging solutions, robust need for protective packaging, the burgeoning growth of the e-commerce sector, stringent regulatory compliance and food safety issues, and escalating urbanization. Notable trends anticipated during the forecast period involve emerging innovations in packaging, advanced smart packaging technologies, the advent of digital printing technologies, strides in technological advancements, a growing focus on ecological friendliness, and novel designs in packaging.
What Are The Essential Drivers Behind The Growth Of The Packaging Market?
The expansion of the packaging market in the future is predicted to be fuelled by the increasing needs for e-commerce. Characterized by internet-based buying and selling of goods and services, online retail, digital transactions, and electronic business activities, e-commerce demand is stimulated by elements like enhanced convenience for consumers, easy accessibility, and integration of social media. Packaging plays a crucial role in augmenting the e-commerce experience, by boosting customer contentment and streamlining operations, also making product handling, storage, and sorting much easier in transit and at warehouses. For example, consumer e-commerce made up 36.3% of the entire UK retail market in 2021 as per the International Trade Administration, a government organization in the US, in November 2023. Furthermore, it's forecasted that by 2025, revenues from e-commerce will climb to $285.60 billion, at a growth rate of 12.5%. Hence, the burgeoning demand for e-commerce is a significant driver for the packaging market's growth.
How Is The Global Packaging Market Divided Into Key Segments?
The packagingmarket covered in this report is segmented –
1) By Product: Stick Packaging, Blister Packaging, Sachet Packaging, Single-Use Packaging, Metalized Flexible Packaging, Other Products
2) By Packaging Material: Plastic, Paper And Paperboard, Metal, Glass
3) By Printing Technology: Offset, Flexography, Screen, Gravure, Digital
4) By End User: Food, Beverage, Pharmaceutical, Beauty and Personal Care, Industrial, Other End-Users
Subsegments:
1) By Stick Packaging: Single-Lane Stick Packs, Multi-Lane Stick Packs, Customizable Stick Packs
2) By Blister Packaging: Thermoformed Blisters, Cold-Formed Blisters, Clamshell Blisters, Blister Cards
3) By Sachet Packaging: Liquid Sachets, Powder Sachets, Granule Sachets, Single-Use Sachets
4) By Single-Use Packaging: Food and Beverage Single-Use Packs, Pharmaceutical Single-Use Packs, Personal Care Single-Use Packs, Medical Devices Single-Use Packs
5) By Metalized Flexible Packaging: Metalized Films, Aluminum Foils, Pouches with Metalized Layers
6) By Other Products: Flexible Pouches, Cartons, Shrink Wraps, Rigid Containers
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How Are Emerging Trends Reshaping The Dynamics Of The Packaging Market?
Significant players in the packaging market are increasingly investing in cutting-edge technologies like AI-powered applications to boost packaging effectiveness, cut down on waste, streamline logistics, and improve sustainability across the entire supply chain. These AI-driven solutions enable packaging industries to realize heightened efficiency, make substantial savings in cost, and improve the quality of their products, all while addressing environmental issues. For example, DHL Supply Chain, a logistics firm based in Germany, in April 2022, introduced OptiCarton – an inventive AI tool meant to refine packaging for e-commerce consignments. OptiCarton employs sophisticated AI algorithms to pinpoint the most effective packaging size and design, potentially cutting shipping expenses by as much as 35% and reducing carbon emissions. The tool offers recommendations for the best box sizes from a pre-set collection and provides visual guidelines to make the most of the space inside the boxes.
Who Are the Key Players In The Packaging Market?
Major companies operating in the packaging market are:
• WestRock Company
• International Paper Company
• Ball Corporation
• Amcor Group GmbH
• Berry Global Group Inc.
• Smurfit Kappa Group
• Crown Holdings Inc.
• DS Smith PLC
• Mondi Group
• Sonoco Products Company
• O-I Glass Inc.
• Can Pack SA
• Silgan Holdings Inc.
• Greif Inc.
• Sealed Air Corporation
• Alpla Group
• Huhtamaki Oyj
• Verallia SA
• Aptar Group Inc.
• Gerresheimer AG
• Vidrala S.A.
• UFlex Limited
• Coveris Holding SA
• Vitro S.A.B. De C.V.
What Are The Regional Insights Into The Packaging Market?
Asia-Pacific was the largest region in the packaging market in 2024. Asia-Pacific is expected to be the fastest-growing region in the market. The regions covered in the packaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
