According to the study conducted by FMI, the packaging supplies market is projected to be valued at US$ 248 billion in 2022 and is expected to reach US$ 399.5 billion by 2032, growing at a CAGR of 4.9%.
The expansion of new markets, particularly in the e-retail sector, has led to increased demand for various types of packaging supplies tailored to different products. Vendors in the packaging supplies industry are focusing on creating durable and reliable packaging options that can withstand different environmental conditions, which is driving global sales.
The adoption of advanced packaging supplies for efficient shipping, attractive price segments, and the availability of new packaging options are also contributing to the growth of the market. Government initiatives aimed at raising awareness about alternative packaging supplies further support market growth.
The consumption of packaging supplies primarily comes from end-user sectors such as food and beverages, healthcare, and cosmetics. These sectors are expanding and enhancing the packaging supplies market in new regions. Government support for research and development has enabled manufacturing units to create industry-specific packaging supply solutions.
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Factors such as a growing population, evolving economic structures, changing lifestyles, and increased penetration of e-retail contribute to the rising demand for packaging supplies. This, in turn, enhances the packaging experience for various products.
In the food and beverage sector, new packaging systems are being adopted to improve food shipments. Three key types of blow molding technology—blow molding, injection molding, and injection stretch blow molding—are used in these solutions. These product-driven packaging solutions align with the strategies of end-users, leading to increased sales of packaging supplies in new regions.
However, environmental concerns and the impact of COVID-19 on offline markets have imposed some restrictions on the sales of packaging supplies. Bioplastics, which are environmentally friendly materials used in packaging supplies, are still relatively rare, and people are actively seeking alternative packaging solutions.
Overall, the packaging supplies market is projected to experience significant growth driven by factors such as the expansion of new markets, adoption of advanced packaging solutions, government initiatives, and the demand from various end-user sectors. However, environmental concerns and the need for sustainable packaging options remain important considerations in the industry.
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Key Takeaways:
- The packaging supplies market analysis explains that the market is categorized product type, material type, end-use industry and sales category.
- The product type category is segmented into rigid, semi-rigid, flexible while material type category is divided into rigid plastic packaging, paper, cardboard/fiberboard.
- The end user industry is segmented into food and beverages, healthcare, cosmetic, personal & homecare while the sales category is divided into B2B sales and B2C sales.
- The cosmetics segment is the largest segment and will hold the biggest sector of the market in the forecast period. The analysis shows that the cosmetics segment is set to thrive at CAGR of 4.4%.
- Factors behind the growth of this segment are the use of expensive packaging supplies as cosmetics are fragile and can easily be destroyed if not packed right, e-commerce platforms use lightweight paper packaging for the cosmetic items.
Competitive landscape:
Some of the packaging supplies market competitors listed in the FMI’s study on Packaging supplies market are –
- The Packaging Company
- Packhelp
- Ruskin Group
- Purple Co,
- Moraya Packaging,
- Pratt Industries, Inc.
- Mondi Group plc,
- WestRock Company
- Oji Holdings Corporation,
- DS Smith Packaging Limited
- Tat Seng Packaging Group
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Key Segments:
By Product Type:
- Rigid
- Semi-Rigid
- Flexible
By Material Type:
- Rigid Plastic Packaging
- Paper
- Cardboard/Fiberboard
By End Use Industry:
- Food and Beverages
- Healthcare
- Cosmetic
- Personal & Homecare
By Sales Category:
- B2B
- B2C
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- MEA
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