Packaging Materials Market
Packaging Materials Market Forecasts to 2030 - Global Analysis By Material (Plastic, Paper & Paperboard, Metal, Glass, Wood, Textiles and Other Materials), Packaging Format (Bottles & Jars, Cartons & Boxes, Pouches & Sachets, Trays & Clamshells, Bags & Sacks, Wraps & Films and Other Packaging Formats), Application, End User and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $1.42 TN |
|
Projected Year Value (2030) |
US $2.26 TN |
|
CAGR (2023 - 2030) |
6.8% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
North America |
According to Stratistics MRC, the Global Packaging Materials Market is accounted for $1.42 trillion in 2023 and is expected to reach $2.26 trillion by 2030 growing at a CAGR of 6.8% during the forecast period. Packaging materials are essential components used to protect, preserve, and transport goods across various industries. They encompass a wide range of materials such as paper, cardboard, plastic, glass, metal, and biodegradable substances. Packaging materials play a crucial role in ensuring product integrity, extending shelf life, and enhancing consumer convenience. Moreover, they contribute to branding and marketing efforts by conveying information and creating visual appeal.
According to the Flexible Packaging Association, flexible packaging is mainly used for food, which accounts for more than 60% of the total market.
Market Dynamics:
Driver:
Booming e-commerce industry
With the increasing trend of online shopping, there is a heightened demand for secure and efficient packaging solutions to safeguard products during transit. Packaging materials play a crucial role in ensuring that goods reach consumers intact and undamaged, thereby enhancing customer satisfaction and brand reputation. Moreover, e-commerce companies often require customized packaging solutions tailored to their specific needs, driving innovation and diversification in the packaging materials market to meet the evolving demands of this rapidly expanding sector. Therefore this aspect accelerates the market expansion.
Restraint:
Complications in managing packaging garbage
Inefficient waste management systems, inadequate recycling infrastructure, and limited consumer awareness about proper disposal contribute to the accumulation of packaging waste. This not only strains environmental resources but also poses regulatory and reputational risks for packaging material manufacturers. Additionally, regulatory mandates and public scrutiny over packaging waste further exacerbate these challenges, prompting manufacturers to invest in alternative materials. Consequently, this complexity associated with packaging garbage management hinders market growth.
Opportunity:
Innovations in packaging designs
Innovations in packaging designs such as smart packaging and sustainable materials, offer enhanced functionalities, improved product protection, and greater consumer convenience. Additionally, innovative designs cater to evolving consumer preferences and market trends, driving demand for new packaging materials and solutions. The adoption of innovative packaging designs not only fosters market expansion but also stimulates investment in research and development, leading to further advancements and differentiation in the packaging materials landscape.
Threat:
Fluctuating raw material prices
Fluctuating raw material prices of key materials such as plastics, paper, and metals can impact production costs and profit margins for packaging manufacturers. These fluctuations often lead to uncertainty in pricing and budgeting, making it difficult for companies to maintain competitiveness and profitability. Moreover, sudden spikes in raw material prices may necessitate price adjustments, potentially straining customer relationships. Overall, the unpredictability of raw material costs poses obstacles to market stability and growth by affecting the affordability and availability of packaging materials.
Covid-19 Impact
The covid-19 pandemic had a multifaceted impact on the packaging materials market. While there was an initial surge in demand for packaging materials due to stockpiling behaviours and increased e-commerce activity, disruptions in the global supply chain and workforce shortages hampered production and distribution. Fluctuations in raw material prices, particularly plastics, added further complexity. Additionally, shifts in consumer preferences towards eco-friendly and sustainable packaging materials accelerated during the pandemic. Overall, the pandemic highlighted the importance of resilient supply chains and sustainable packaging solutions in the packaging materials market.
The paper & paperboard segment is expected to be the largest during the forecast period
The paper & paperboard segment is estimated to have a lucrative growth, due to its versatility, sustainability, and cost-effectiveness. Widely used in packaging applications for food and beverage, consumer goods, and pharmaceuticals, paper & paperboard provide excellent printing & graphic capabilities, enhancing product visibility and brand recognition. Moreover, they are renewable, recyclable, and biodegradable. With innovations in paperboard grades and packaging designs, paper and paperboard materials continue to play a significant role in shaping the packaging materials market's growth trajectory.
The protective packaging segment is expected to have the highest CAGR during the forecast period
The protective packaging segment is anticipated to witness the highest CAGR growth during the forecast period. Protective packaging is a critical format designed to safeguard products during storage, handling, and transportation. It includes materials such as bubble wrap, foam, air pillows, and molded pulp, which provide cushioning and shock absorption to prevent damage from impacts, vibrations, and environmental factors. With the rise of e-commerce and increasing consumer expectations for safe delivery, the demand for effective protective packaging solutions continues to grow, driving innovation and expansion within the market.
Region with largest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to the region's rapid industrialization, urbanization, and burgeoning consumer markets. Additionally, rising key companies and advancements in packaging technologies along with rising environmental concerns fuel the demand for sustainable packaging solutions. With expanding economies and changing consumer preferences, the Asia-Pacific packaging materials market offers immense opportunities for innovation, investment, and market expansion amidst evolving regulatory landscapes and supply chain dynamics.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period. The region's mature industrial landscape, including thriving sectors such as food and beverage, pharmaceuticals, and e-commerce, fuels the demand for diverse packaging materials. Innovations in sustainable packaging solutions to address environmental concerns further contribute to market expansion. Moreover, stringent regulatory standards and consumer preferences for eco-friendly packaging drive the adoption of recyclable and biodegradable materials.
Key players in the market
Some of the key players profiled in the Packaging Materials Market include Amcor PLC, Ball Corporation, Berry Global Group, Coveris Holdings, DS Smith PLC, Huhtamaki Group, International Paper Company, Mondi PLC, Novolex Holdings, Reynolds Group Holdings, RPC Group PLC, Sealed Air Corporation, Smurfit Kappa Group, Sonoco Products Company, Stora Enso Oyj, Tetra Pak, UFLEX Limited, WestRock Company, Ardagh Group and Crown Holdings.
Key Developments:
In August 2023, Amcor announced the North American launch of curbside-recyclable AmFiberTM Performance Paper packaging, part of the company's AmFiber portfolio. Prequalified by How2Recycle®, performance paper meets the repulpability standards for curbside recycling, allowing brands to provide consumers with more sustainable end-of-life outcomes for packaging.
In April 2023, Huhtamaki launched the new sustainable flexible packaging innovation ‘blueloopTM’. The game-changing technology provides a unique combination of best in-class protection, full recyclability and affordability.
Materials Covered:
• Plastic
• Paper & Paperboard
• Metal
• Glass
• Wood
• Textiles
• Other Materials
Packaging Formats Covered:
• Bottles & Jars
• Cartons & Boxes
• Pouches & Sachets
• Trays & Clamshells
• Bags & Sacks
• Wraps & Films
• Other Packaging Formats
Applications Covered:
• Protective Packaging
• Sustainable Packaging
• Luxury Packaging
• Bulk Packaging
• Specialized Packaging
• Reusable Packaging
• Other Applications
End Users Covered:
• Food & Beverage
• Personal Care & Cosmetics
• Healthcare & Pharmaceutical
• Automotive
• Retail & Consumer Goods
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Packaging Materials Market, By Material
5.1 Introduction
5.2 Plastic
5.3 Paper & Paperboard
5.4 Metal
5.5 Glass
5.6 Wood
5.7 Textiles
5.8 Other Materials
6 Global Packaging Materials Market, By Packaging Format
6.1 Introduction
6.2 Bottles & Jars
6.3 Cartons & Boxes
6.4 Pouches & Sachets
6.5 Trays & Clamshells
6.6 Bags & Sacks
6.7 Wraps & Films
6.8 Other Packaging Formats
7 Global Packaging Materials Market, By Application
7.1 Introduction
7.2 Protective Packaging
7.3 Sustainable Packaging
7.4 Luxury Packaging
7.5 Bulk Packaging
7.6 Specialized Packaging
7.7 Reusable Packaging
7.8 Other Applications
8 Global Packaging Materials Market, By End User
8.1 Introduction
8.2 Food & Beverage
8.3 Personal Care & Cosmetics
8.4 Healthcare & Pharmaceutical
8.5 Automotive
8.6 Retail & Consumer Goods
8.7 Other End Users
9 Global Packaging Materials Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 Amcor PLC
11.2 Ball Corporation
11.3 Berry Global Group
11.4 Coveris Holdings
11.5 DS Smith PLC
11.6 Huhtamaki Group
11.7 International Paper Company
11.8 Mondi PLC
11.9 Novolex Holdings
11.10 Reynolds Group Holdings
11.11 RPC Group PLC
11.12 Sealed Air Corporation
11.13 Smurfit Kappa Group
11.14 Sonoco Products Company
11.15 Stora Enso Oyj
11.16 Tetra Pak
11.17 UFLEX Limited
11.18 WestRock Company
11.19 Ardagh Group
11.20 Crown Holdings
List of Tables
1 Global Packaging Materials Market Outlook, By Region (2021-2030) ($MN)
2 Global Packaging Materials Market Outlook, By Material (2021-2030) ($MN)
3 Global Packaging Materials Market Outlook, By Plastic (2021-2030) ($MN)
4 Global Packaging Materials Market Outlook, By Paper & Paperboard (2021-2030) ($MN)
5 Global Packaging Materials Market Outlook, By Metal (2021-2030) ($MN)
6 Global Packaging Materials Market Outlook, By Glass (2021-2030) ($MN)
7 Global Packaging Materials Market Outlook, By Wood (2021-2030) ($MN)
8 Global Packaging Materials Market Outlook, By Textiles (2021-2030) ($MN)
9 Global Packaging Materials Market Outlook, By Other Materials (2021-2030) ($MN)
10 Global Packaging Materials Market Outlook, By Packaging Format (2021-2030) ($MN)
11 Global Packaging Materials Market Outlook, By Bottles & Jars (2021-2030) ($MN)
12 Global Packaging Materials Market Outlook, By Cartons & Boxes (2021-2030) ($MN)
13 Global Packaging Materials Market Outlook, By Pouches & Sachets (2021-2030) ($MN)
14 Global Packaging Materials Market Outlook, By Trays & Clamshells (2021-2030) ($MN)
15 Global Packaging Materials Market Outlook, By Bags & Sacks (2021-2030) ($MN)
16 Global Packaging Materials Market Outlook, By Wraps & Films (2021-2030) ($MN)
17 Global Packaging Materials Market Outlook, By Other Packaging Formats (2021-2030) ($MN)
18 Global Packaging Materials Market Outlook, By Application (2021-2030) ($MN)
19 Global Packaging Materials Market Outlook, By Protective Packaging (2021-2030) ($MN)
20 Global Packaging Materials Market Outlook, By Sustainable Packaging (2021-2030) ($MN)
21 Global Packaging Materials Market Outlook, By Luxury Packaging (2021-2030) ($MN)
22 Global Packaging Materials Market Outlook, By Bulk Packaging (2021-2030) ($MN)
23 Global Packaging Materials Market Outlook, By Specialized Packaging (2021-2030) ($MN)
24 Global Packaging Materials Market Outlook, By Reusable Packaging (2021-2030) ($MN)
25 Global Packaging Materials Market Outlook, By Other Applications (2021-2030) ($MN)
26 Global Packaging Materials Market Outlook, By End User (2021-2030) ($MN)
27 Global Packaging Materials Market Outlook, By Food & Beverage (2021-2030) ($MN)
28 Global Packaging Materials Market Outlook, By Personal Care & Cosmetics (2021-2030) ($MN)
29 Global Packaging Materials Market Outlook, By Healthcare & Pharmaceutical (2021-2030) ($MN)
30 Global Packaging Materials Market Outlook, By Automotive (2021-2030) ($MN)
31 Global Packaging Materials Market Outlook, By Retail & Consumer Goods (2021-2030) ($MN)
32 Global Packaging Materials Market Outlook, By Other End Users (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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