Global Packaging Market to Surpass USD 1438.20 Billion by 2030 Owing to E-Commerce Boom and Regulatory Support & Compliance | Research by SNS Insider

As per SNS Insider’s research, the global packaging market is undergoing a transformative phase, driven by consumer preferences, technological advancements, sustainability initiatives, and regulatory support.

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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 AttributesDetails
Market Size in 2022USD 1059 billion
Market Size by 2030USD 1438.20 billion
CAGRCAGR of 3.9% over 2023-2030
Key Segmentsby Flexible Packaging

by Rigid Packaging

by Glass Packaging

by Paper & Paperboard Packaging
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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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