FMCG Packaging Market Overview
The global FMCG packaging market is projected to record a CAGR of 4.3% from 2022 to 2032.
“Fast-moving consumer goods are the high volume, low priced items that are quickest to leave the supermarket shelves, which demands high volume of packaging.”
Growing demand from e-commerce industry has been regarded as a vital factor that is expected to support growth prospects of FMCG packaging market in the forthcoming years.
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E-commerce sector is one of the major contributors in increasing revenue growth of FMCG packaging market. This sector’s growth is attributed towards rising demand for protective packaging for delivering small-sized products coupled with the convenient packaging options.
How is the Adoption Scenario of FMCG Packaging?
“FMCG brands are forming new strategies and building their USP to boost up their market hold and expand their customer base. In order to do that they keep experimenting with the new type of products”
The demand for packaging in recent years is being recognized across the emerging markets with developed markets retaining their market share with a modest growth. However, demand from emerging markets is expected to record a double-digit growth in the next five to six years.
Packaging in the FMCG sector accounts for a large share in the material cost involved in developing a finished product. Thus companies at a global level are developing innovative packaging solutions to minimize the operational cost.
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Key Segments Attributes Details Forecast Period 2022-2032 Historical Data Available for 2014-2020 Market Analysis US$ Bn for Value By End-use Industry Food Beverages Cosmetics Healthcare Others By Packaging Type Protective Packaging Paper-based Packaging Flexible Packaging Custom Packaging Rigid Plastic Packaging Others By Region North America Latin America Asia-Pacific Japan Western Europe Eastern Europe Middle East & Africa Key Players Nestlé S.A. Procter & Gamble Company PepsiCo Inc. Kimberly-Clark Altria Group Kraft Foods Mondel International Inc. Philip Morris International Inc How is the Competitive Landscape of the FMCG Packaging Market?
“The market atmosphere is very competitive with the inclusion of modern marketing tools– packaging and branding.”
Favourable economic conditions and demographics in Asia-Pacific has been driving the region’s FMCG packaging market during the forecast period. Multinational companies are planning to eye on Asia-Pacific for business expansion and to attain a competitive edge in the global market. Key players and manufacturers in Asia-Pacific FMCG packaging market are taking immense efforts by customizing and launching their existing products to cater to new consumer demands.
FMCG packaging goods include durable and non-durable goods such as cosmetics, toiletries, detergents, batteries, plastic goods, paper products, etc. Packaging is vital to the FMCG market as it is an essential element for proper positioning of the product.
Packaging allows effective communication between consumers and brand owners through graphics, colours, images, product information and logos. This serves as an important medium for communication and a tool for companies to distinguish product appearance from that of their rivals. In the fast-moving consumer goods (FMCG) sector, packaging plays a key role in affecting consumer choice and thus an important factor in point-of-purchase decisions. Nowadays, the marketing environment has become competitive and complex.
Nestlé S.A., Procter & Gamble Company and PepsiCo Inc. are among the leading FMCG companies across the globe. Other prominent players of the FMCG packaging market include Kimberly-Clark, Altria Group, Kraft Foods, Mondel International Inc., Philip Morris International Inc., Unilever Group, Amcor Limited and Tetra Pak International.