Pune, Nov. 02, 2023 (GLOBE NEWSWIRE) -- The SNS Insider report indicates that “The Global Packaging Market was valued at USD 1059 billion in 2022 and is projected to reach USD 1438.20 billion by 2030, experiencing a compound annual growth rate (CAGR) of 3.9% during the forecast period from 2023 to 2030.”
Market Overview
Global packaging, as a concept, encapsulates a wide array of practices, technologies, and strategies employed by industries worldwide. At its core, packaging serves as a protective barrier for products, ensuring their safe transit from manufacturers to consumers. However, in the global context, packaging has taken on multifaceted roles. It acts as a branding tool, communicating a product's identity and value proposition to consumers. Additionally, it plays a crucial role in enhancing user experience, convenience, and product accessibility, thereby influencing purchasing decisions.
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Market Analysis
The rapid rise of e-commerce platforms has significantly boosted the demand for packaging materials. Online retailers require secure and efficient packaging solutions to ensure safe delivery of products to consumers worldwide. This growing trend of online shopping has led to an increased need for innovative packaging techniques, including tamper-evident seals and personalized packaging experiences, further fueling market growth. Stringent regulations and guidelines related to packaging materials and waste management have played a pivotal role in shaping the industry. Governments worldwide are enforcing laws to promote sustainable packaging, leading companies to invest in research and development for eco-friendly solutions. Compliance with these regulations has become a significant driver for innovation and growth in the global packaging market. The globalization of trade has increased the demand for efficient packaging solutions to facilitate the smooth movement of goods across borders. Packaging plays a crucial role in protecting products during transportation and ensuring their quality and integrity upon arrival.
Market Overview & Scope:
| Report Attributes | Details |
| Market Size in 2022 | USD 1059 billion |
| Market Size by 2030 | USD 1438.20 billion |
| CAGR | CAGR of 3.9% over 2023-2030 |
| Key Segments | by Flexible Packaging by Rigid Packaging by Glass Packaging by Paper & Paperboard Packaging |
| 20% free customization scope (equivalent to 50 analyst working hours) | If you need specific information as per your business requirement, which is not currently within the scope of the report, we will provide it to you as a part of customization. |
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Key Takeaway from Global Packaging Market Study
- The bottles & jars segment stands tall as a frontrunner, poised to dominate in the coming years. This segment's unwavering prominence can be attributed to its versatility, convenience, and eco-friendly nature. With consumers becoming increasingly conscious of environmental issues, the demand for sustainable packaging solutions has surged dramatically, catapulting bottles and jars into the spotlight.
- The folding boxboard segment has emerged as a powerhouse, poised to dominate the global packaging market. This segment's ascendancy can be attributed to its unparalleled versatility, durability, and aesthetic appeal, making it the preferred choice for a wide array of products. From consumer electronics to luxury goods, the Folding Boxboard segment has proven its mettle in providing packaging solutions that are as practical as they are visually appealing.
Recent Developments
- TricorBraun, a leading packaging solutions provider, has recently acquired Denver-based CanSource. CanSource, a well-established company known for its expertise in aluminum beverage packaging solutions, brings a wealth of experience and innovation to TricorBraun.
- Berry Global, a leading global supplier of a wide range of innovative packaging and engineered products, has announced its decision to merge M&H and PET Power businesses into a comprehensive pan-European operation.
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Market Dynamics Analysis
As environmental consciousness becomes a global priority, businesses are increasingly adopting biodegradable materials, driving innovation and creating new opportunities within the packaging sector. Additionally, the rise of e-commerce and the subsequent surge in online retail activities have significantly boosted the demand for efficient and secure packaging solutions, further fueling market growth. However, amidst these opportunities, there exist formidable challenges and restraints. Stringent regulations and standards, especially regarding single-use plastics, pose a challenge for manufacturers to align their products with global environmental goals. Moreover, the fluctuating costs of raw materials and energy resources present financial constraints for packaging companies, necessitating constant adaptation and cost-efficiency measures. Simultaneously, the industry faces threats from technological disruptions, where advancements like 3D printing and smart packaging technologies could potentially reshape traditional packaging methods. The need for continuous innovation, compliance with environmental regulations, and the ability to navigate these challenges while harnessing technological advancements will be pivotal for companies in the global packaging market to maintain their competitive edge and sustain growth.
Key Regional Developments
In North America, the packaging industry is characterized by a strong emphasis on sustainability and technological innovations. With consumers becoming increasingly eco-conscious, there is a growing demand for environmentally friendly packaging materials. Europe stands out for its commitment to the circular economy model within the packaging industry. The region is actively investing in research and development to create packaging materials that are easily recyclable and biodegradable. The Asia-Pacific region is witnessing rapid urbanization and a booming e-commerce sector, both of which are significant drivers of the global packaging market. The rise in disposable income and urban lifestyles has increased the demand for convenience-oriented packaging solutions, leading to innovations in packaging designs and materials.
Impact of Recession
One of the noteworthy responses to the recession in the global packaging market try has been the accelerated adoption of sustainable practices. Businesses are increasingly recognizing the importance of eco-friendly packaging solutions, not only to align with environmental concerns but also to reduce costs. The surge in e-commerce activities during the recession has reshaped packaging requirements. With a growing number of consumers shopping online, there has been an increased demand for secure, sustainable, and visually appealing packaging. Companies are investing in innovative packaging designs that enhance the unboxing experience, thereby fostering brand loyalty among online shoppers.
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Table of Content
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of Russia-Ukraine war
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8 Global Packaging Market Segmentation By Type
8.1 Flexible Packaging By Product Type
8.1.1 Pouches
8.1.2 Bags & Sacks
8.1.3 Labels
8.1.4 Films & Wraps
8.2 Rigid Packaging, By Product Type
8.2.1 Bottles & Jars
8.2.2 Boxes
8.2.3 Rigid Bulk Products
8.2.4 Trays
8.2.5 Tubs, Cups, & Pots
8.2.6 Pallets
8.2.7 Others
8.3 Glass Packaging, By Product Type
8.3.1 Bottles & Jars
8.3.2 Container
8.3.3 Vials
8.3.4 Others
8.4 Paper & Paperboard Packaging, By Product Type
8.4.1 Folding Boxboard
8.4.2 Solid Bleached Sulfate
8.4.3 Label Paper
8.4.4 White Lined Chipboard
8.4.5 Glassline & Grease Paper
8.4.8 Others
8.5 Global Packaging Market, By Others
8.5.1 Green Packaging
8.5.2 Recyclable Packaging
8.5.3 Bioplastic Packaging
8.5.4 Customized Packaging
8.5.5 E-commerce Packaging
9. Regional Analysis
9.1 Introduction
9.2 North America
9.2.5 USA
9.2.6 Canada
9.2.7 Mexico
9.3 Europe
9.3.1 Eastern Europe
9.3.1.5 Poland
9.3.1.6 Romania
9.3.1.7 Turkey
9.3.1.8 Rest of Eastern Europe
9.3.2 Western Europe
9.3.2.4 Germany
9.3.2.5 France
9.3.2.6 UK
9.3.2.7 Italy
9.3.2.8 Spain
9.3.2.9 Netherlands
9.3.2.10 Switzerland
9.3.2.9.1 Austria
9.3.2.12 Rest of Western Europe
9.4 Asia-Pacific
9.4.5 China
9.4.6 India
9.4.7 Japan
9.4.8 South Korea
9.4.9 Vietnam
9.4.10 Singapore
9.4.11 Australia
9.4.12 Rest of Asia-Pacific
9.5 Middle East & Africa
9.5.1 Middle East
9.5.1.5 UAE
9.5.1.6 Egypt
9.5.1.7 Saudi Arabia
9.5.1.8 Qatar
9.5.1.9 Rest of Middle East
9.5.2 Africa
9.5.2.5 Nigeria
9.5.2.6 South Africa
9.5.2.7 Rest of Africa
9.6 Latin America
9.6.5 Brazil
9.6.6 Argentina
9.6.7 Colombia
9.6.8 Rest of Latin America
10 Company profile of Global Packaging market
10.1 Major Players Of Flexible Packaging Market
10.1.1 Sealed Air Corporation
10.1.1.1 Company Overview
10.1.1.2 Financials
10.1.1.3 Product/Services Offered
10.1.1.4 SWOT Analysis
10.1.1.5 The SNS View
10.1.2 Amcor Ltd
10.1.3 Constantia Flexibles International GmbH
10.1.4 Mondi plc
10.1.5 Sonoco Products Company
10.1.6 Wipak Group
10.1.7 Ukrplastic
10.1.8 Huhtamaki Oyj
10.1.9 Bemis Company Inc
10.1.10 Ampac Holding
10.2 Major Players In Rigid Packaging Market
10.2.1 ALPLA
10.2.1.1 Company Overview
10.2.1.2 Financials
10.2.1.3 Product/Services Offered
10.2.1.4 SWOT Analysis
10.2.1.5 The SNS View
10.2.2 Amcor Limited
10.2.3 DS Smith Plc
10.2.4 Berry Plastics Corporation
10.2.5 Klöckner Pentaplast
10.2.6 Plastipak Holdings
10.2.7 Pactiv Evergreen Inc
10.2.8 Sealed Air Corporation
10.2.9 Silgan Holdings
10.2.10 Sonoco Products Company
10.3 Major Players In Glass Packaging Market
10.3.1 Borosil Glass Works Ltd
10.3.1.1 Company Overview
10.3.1.2 Financials
10.3.1.3 Product/Services Offered
10.3.1.4 SWOT Analysis
10.3.1.5 The SNS View
10.3.2 Allied Glass Containers Ltd
10.3.3 Owen Illinois Inc
10.3.4 Gallo Glass Company
10.3.5 Amcor Plc
10.3.6 Consol
10.3.7 Gerresheimer AG
10.3.8 Saint Gobain SA
10.3.9 Hindustan National Glass & Industries Limited
10.3.10 Orora Packaging Australia Pty Ltd
10.4 Major Players In Paper & Paperboard Packaging Market.
10.4.1 Smurfit Kappa Group plc
10.4.1.1 Company Overview
10.4.1.2 Financials
10.4.1.3 Product/Services Offered
10.4.1.4 SWOT Analysis
10.4.1.5 The SNS View
10.4.2 Packaging Corporation of America
10.4.3 International Paper Company
10.4.4 Nippon Paper Industries Company Ltd
10.4.5 ITC Ltd
10.4.6 Sappi Limited
10.4.7 Metsa Group
10.4.8 Stora Enso Oyj
10.4.9 Svenska Cellulosa Aktiebolget
11. Competitive Landscape
11.1 Competitive Benchmarking
11.2 Market Share Analysis
11.3 Recent Developments
11.3.2 Industry News
11.3.2 Company News
11.3.3 Mergers & Acquisitions
12. USE Cases and Best Practices
13. Conclusion
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