Packaging Market size was valued at USD 94.7 Bn. in 2023 and the total packaging revenue is expected to grow at a CAGR of 3.5% from 2024 to 2030, reaching nearly USD 120.48 Bn.
Packaging Market Overview
The global packaging industry is experiencing robust growth driven by major trends like urbanization, population expansion, and shifting consumer habits. The demand for packaging solutions is rising due to the popularity of on-the-go food options and the rapid growth of e-commerce. Consumers increasingly value sustainability and safety, expecting brands to adopt eco-friendly packaging practices. Packaging plays a vital role in protecting products, supporting marketing efforts, and facilitating distribution across various sectors, both consumer and industrial.
Market Forecast and Key Dynamics:
The increasing use of bioplastics in all sectors is driven by the growing demand for sustainable packaging solutions. As e-commerce continues to expand, packaging plays a crucial role, with rigid options like corrugated packaging expected to lead the market due to their durability and eco-friendly attributes. Companies such as DS Smith anticipate substantial shifts in packaging trends across e-commerce, FMCG, and retail display functions.
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Packaging Market Regional Insights
North America held the largest market share in 2023, with a strong emphasis on sustainable packaging expected to drive future growth. The focus in this region is on reducing packaging materials and shifting towards eco-friendly solutions. Companies like ProAmpac are actively transitioning clients from rigid plastic, glass, or metal packaging to flexible, fully recyclable formats. Government initiatives promoting sustainable packaging, along with efforts from organizations like The Corrugated Packaging Alliance to advance corrugated packaging, are further boosting market expansion in North America.
Packaging Market Segmentation
By Material
Paper and Paperboard
Rigid Plastics
Flexible
Metal
Glass
Others
By Function
Cushioning
Blocking and Bracing
Void-fill
Insulation
Wrapping
Others
By Application
Food
Beverage
Healthcare
Cosmetics
Industrial
Others
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Packaging Market Key Players
North America
International Paper Company (Memphis, Tennessee, USA)
Sealed Air Corporation (Charlotte, North Carolina, USA)
WestRock Company (Atlanta, Georgia, USA)
Ball Corporation (Broomfield, Colorado, USA)
Crown Holdings, Inc. (Philadelphia, Pennsylvania, USA)
Packaging Corporation of America (Lake Forest, Illinois, USA)
Sonoco Products Company (Hartsville, South Carolina, USA)
Berry Global Group, Inc. (Evansville, Indiana, USA)
Graphic Packaging Holding Company (Atlanta, Georgia, USA)
Bemis Company, Inc. (Neenah, Wisconsin, USA)
AptarGroup, Inc. (Crystal Lake, Illinois, USA)
Europe:
Amcor plc (Zurich, Switzerland)
Tetra Pak (Pully, Switzerland)
Mondi plc (Vienna, Austria)
DS Smith plc (London, United Kingdom)
Smurfit Kappa Group plc (Dublin, Ireland)
Huhtamäki Oyj (Espoo, Finland)
Ardagh Group (Luxembg City, Luxembg)
RPC Group (Rushden, United Kingdom)
Asia Pacific
Rengo Co., Ltd. (Osaka, Japan)
Oji Holdings Corporation (Tokyo, Japan)
Orora Limited (Victoria, Australia)
Visy Industries (Victoria, Australia)
Nippon Paper Industries Co., Ltd. (Tokyo, Japan)
Key questions answered in the Packaging Market are:
- What is Packaging?
- What was the Packaging market size in 2021?
- What is the growth rate of the Packaging Market?
- Which are the factors expected to drive the Packaging market growth?
- What are the different segments of the Packaging Market?
- What growth strategies are the players considering to increase their presence in Packaging?
- What are the upcoming industry applications and trends for the Packaging Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Packaging Market?
- What segments are covered in the Packaging Market?
- Who are the leading companies and what are their portfolios in Packaging Market?
- What segments are covered in the Packaging Market?
- Who are the key players in the Packaging market?
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Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by Different Segment | 2022-2027
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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