New York, USA, Aug. 17, 2022 (GLOBE NEWSWIRE) -- Packaging Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Packaging Market Information by Material, End-User, Application, and Region - Forecast till 2030”, the market is estimated to grow at a 5.10% CAGR to reach USD 14,38,863.6 Million by 2030.
Market Synopsis
Packaging is a highly essential component in various industries, as it offers protection to the products from physical shocks and other kinds of damage. Most brands are relying on creative and innovative packaging, designs as well as advertising to capture the attention of the majority of the buyers. This could be extremely favorable for the worldwide market in the long run.
Get Free Sample PDF Brochure @ https://www.marketresearchfuture.com/sample_request/10902
Report Scope:
| Report Attribute | Details |
| 2030 Market Size | USD 14,38,863.6 Million |
| CAGR | 5.10% (2021–2030) |
| Base Year | 2021 |
| Forecast Period | 2022–2030 |
| Historical Data | 2019 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Material, End-User, Application, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Increasing demand from various end use industries |
| Growth of organized retail sector |
Market Competitive Landscape:
The important companies in the packaging market are
- Owens Illinois, Inc. (US)
- Coveris Management GMBH (Austria)
- Amcor PLC (Australia)
- Sealed Air Corporation (US)
- Crown Holdings, Inc. (US)
- Mondi PLC (Austria)
- Alpla (Austria)
- Berry Global, Inc. (US)
- Ball Corporation (US)
- Tetra Pak (Switzerland)
- Graphic packaging Holding (US)
Market USP Covered:
Market Drivers:
Given the consumers’ increasingly hectic lifestyles, demand for a variety of convenient products has risen, thereby resulting in a huge demand for flexible packaging. Flexible plastic packaging needs much lesser energy and resources; which means lower costs and lesser retail shelf space. This renders them cost-effective in comparison with other packaging forms. The Flexible Packaging Association reveals that the production of around 784,000 flexible pouches takes up 89% less coal, 64% less crude oil, and 74% less natural gas, compared to the production of rigid clamshell packages. Additionally, consumers are increasingly opting for packaged products instead of the conventional preparation method of food at home.
The demand for flexible packaging is especially high, as it makes use of much fewer natural resources and results in lesser greenhouse gas emissions. The Natural Resources Defense Council says that around 50% of food in the United States was wasted in 2020. Flexible plastic packaging brings down product waste and raises the product’s shelf-life; for example, bananas ripen at a slower rate when in flexible packaging, thereby fostering shelf-life.
Market Restraints:
Government authorities are coming up with steps for environmental safety to cater to the soaring concerns in line with the extensive use of packaging materials like plastics. Several regulatory organizations are developing policies that compel packaging companies to limit the use of certain packaging materials.
The alarmingly high amount of plastic in solid waste streams poses a major risk to the environment. High usage of plastic packaging goes hand in hand with environmental and human health deterioration. As a result, the US federal government and many other countries have implemented packaging regulations pertinent to drug, cosmetic, and food products for optimum consumer safety. In view of this, the global market’s growth rate could slacken in the following years.
Browse In-depth Market Research Report (100 Pages) on Packaging: https://www.marketresearchfuture.com/reports/packaging-market-10902
COVID 19 Analysis
The packaging market has been significantly affected by the COVID-19 outbreak. Given the pandemic scenario, numerous countries had to go under lockdown, to control the rising cases. Owing to this, the demand and supply chain have been disrupted, which has affected the worldwide market. The infrastructural projects, manufacturing units, industries, and various operations had to be put on hold owing to the pandemic situation.
The volatile costs of raw materials that are used for developing packaging along with the COVID-19 pandemic have restricted the growth rate of the market. On the bright side, the situation is getting back to normal, which means that the market in the future will see better growth.
Market Segmentation
By Material
Metal packaging, Flexible packaging, Board packaging, Rigid plastic packaging, Glass and more the packaging material available in the market.
Board packaging forms the biggest segment in the market, given the material’s extensive use in foil-sealed bags, paper board, rigid boxes, chipboard packaging, blister, and carton packaging. Food and beverage items like milk, cereals, and juices are largely packaged in board packaging.
By End Use Industry
Food, Healthcare, Beverages, Consumer goods, Industrial, and Cosmetics are the top end-use industries in the packaging industry.
Packaging is an important requirement in the food industry. Most food brands offer a variety of pouches and bags, which are great for packaging various food products. These packaged food products come in a host of sizes, materials, and shapes. The soaring demand for on-the-go and ready-to-eat foods, in addition to the rising consumption of fast food, should further enhance the need for packaged products in the years to come.
By Application:
Secondary packaging, end-of-line packaging, and primary packaging are a few key applications of packaging. Primary packaging is directly in contact with the product and helps protect it from the outer environment. It's another name is consumer packaging or retail packaging. The primary packaging has gained substantial traction in the pharmaceutical industry, used in blister packs containing specific medications.
Buy Now: https://www.marketresearchfuture.com/checkout?currency=one_user-USD&report_id=10902
Regional Analysis
Asia Pacific’s share of 43.92% is the highest in the packaging market. China, Japan, and India are the top leading exporters of a variety of commercial goods to numerous regions. The surging exports from these economies, and the thriving personal care and pharmaceutical industries in these countries enhance the market size to a large extent. Most manufacturers in the region are focused on offering technically innovative packaging solutions. Mounting FDI in the retail sector has also boosted the scope of packaging in the region, attracting major global companies to set up their production base across the region. The heightened demand for packaging in China and India is also the result of the rising per capita disposable income of consumers.
The European market stands second worldwide, given the vast demand for packaging from the pharmaceutical industry. The demand is also escalating in the cosmetic and makeup industry in France, Italy, the UK, and Germany. The region has numerous luxurious brands that use a variety of packaging for their premium products. The escalating preference for sustainably packaged products in the pharmaceutical, personal care, and food & beverages sectors is one of the key trends emerging rapidly in the region.
Share your Queries @ https://www.marketresearchfuture.com/enquiry/10902
Discover more research Reports on Packaging & Transport Industry, by Market Research Future:
PET Bottle Recycling Market By Recycling Process (Chemical, Mechanical), Application (Beverages, Personal Care, Pharmaceutical, Consumer Goods, And Others), And Region - Global Forecast To 2030
Composite Packaging Market Research Report— By Material (Plastic, Paper, Cardboard, and Others), by End-user (Food & beverage, Industrial goods, Consumer goods, Healthcare and Others) and by Region (the Americas, Asia Pacific, Europe, Middle East and Africa) — Global Forecast Till 2030
Green Packaging Market, By Packaging type (Recycled Content Packaging, Degradable Packaging) By Application (Food & Beverage, Health Care, Personal Care and Other) - Forecast 2030
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
