The global consumer packaging market is poised for significant growth, driven by increasing consumer demand, the boom in e-commerce, and the rising importance of sustainability. According to a recent analysis by Future Market Insights (FMI), global sales of consumer packaging products are estimated to total USD 655 billion in 2024. Over the next decade, the market is expected to grow at a compound annual growth rate (CAGR) of 3.8%, reaching an impressive valuation of USD 950 billion by 2034.
Core Concepts in the Consumer Packaging Industry
- Current Market Value (2024): US$ 655 billion
- Demand Outlook (CAGR through 2034): 8%
- Predicted Market Size (2034): US$ 950 billion
- Key Growth Drivers: Booming food and beverage industry, growing popularity of online shopping
- Top Players: Amcor Plc, Berry Global Company, Ball Corporation
- Industry Definition: Designs and manufactures packaging solutions for consumer products
- Consumer Product Packaging: Packaging solutions for products that are consumed and restocked regularly
- Consumer Pack: Packaging products used for protecting and marketing consumer products
Key Market Dynamics:
- Sustainability as a Growth Driver:
- The growing consumer preference for sustainable packaging solutions is compelling companies to incorporate biodegradable and recycled materials into their products. This shift is reshaping the packaging industry, making sustainability a central focus for top players.
- E-commerce Boom and Consumer Packaging:
- The rapid growth of online shopping is significantly influencing the demand for innovative packaging solutions. Companies are increasingly investing in packaging that not only protects products during transit but also enhances visual appeal and functionality, which are critical in influencing consumer purchasing decisions.
- Dominance of Flexible Packaging:
- Flexible packaging is anticipated to dominate the market, capturing around two-thirds of the value share in 2024. Its unique properties—such as flexibility, lightweight, versatility in design, and extended shelf life—make it a preferred choice for various industries.
- Plastic Packaging Leads, but Eco-friendly Alternatives Gain Ground:
- Plastic remains the most widely used material in consumer goods packaging, accounting for more than half of the market share. However, there is a growing trend toward eco-friendly packaging materials like paper, bioplastics, and wood, driven by environmental concerns and regulatory pressures.
Influence of Beauty and Personal Care Industry:
- The beauty and personal care industry is a significant driver of the consumer packaging market, with increasing demand for innovative and visually appealing packaging solutions. As competition intensifies, brands are focusing on premium and customized packaging to enhance product presentation and meet consumer expectations.
Industry Growth Factors:
- Consumer Goods Sales: The increasing sales of consumer goods are driving demand for packaging solutions.
- Eco-Friendly Push: Growing consumer and regulatory emphasis on eco-friendly packaging solutions is pushing the use of recyclable and biodegradable materials, reducing environmental impact.
Regional Insights:
North America: The United States leads in consumer packaging demand, driven by high consumer product consumption and a strong e-commerce sector.
Europe: Germany and other European countries are investing heavily in sustainable packaging solutions, contributing to regional market growth.
Growing Use of rPET Packaging
The European Union has implemented a regulation to incorporate a minimum of 25% recycled polyethylene terephthalate (rPET) in their products. This has created the shift towards a more circular economy in the plastic industry.
Today, manufacturers are looking to responsibly source recycled materials and invest in technologies for recycled packaging. For instance, in October 2023, Coca-Cola introduced its beverages in 20-oz bottles made from 100% recycled PET, showcasing a commitment to sustainable packaging practices. Similarly, in August 2023, ENVICCO unveiled Thailand’s first bottle made from 100% recycled PET, marking a significant step towards the adoption of recycled materials in the region.
Who is Winning?
Top players are concentrating on developing sustainable packaging solutions from eco-friendly and recycled materials to attract environmentally conscious customers. They also employ strategies like partnerships, agreements, alliances, collaborations, and acquisitions to stay ahead of the curve.
Access Full Report: https://www.futuremarketinsights.com/reports/consumer-packaging-market
Global Consumer Goods Packaging Industry Segmentation
By Packaging Format:
- Flexible Packaging
- Pouches
- Bags & Sacks
- Films & Wraps
- Sachets
- Stick Packs
- Cups
- Tubes
- Labels
- Clamshell
- Rigid Packaging
- Trays
- Blisters
- Tubs and Lids
- Caps & Closures
- Pump & Dispensers
- Boxes
- Cartons
- Bottles and Jars
- Cans
- Cores & Tubes
By Material:
- Plastics
- Polyethylene
-
-
- HDPE
- LDPE
- LLDPE
- Polypropylene
- PET
- PVC
- Nylon
- EVOH
- Polystyrene
- Post-Consumer Recycled (PCR)
- Bioplastics
- PLA
- Starch-based Plastics
- Bio-PET
- Bio-PE
- Others
-
- Paper
- Aluminium Foil
- Wood
- Metal
- Aluminium
- Tin
- Steel
By End-use:
- Food
- Bakery & Confectionaries
- Dairy Products
- Baby food
- Edible Oil
- Meat Poultry & Seafood
- Snacks
- Spices & Condiments
- Fruits and Vegetables
- Pet Food
- RTE Food
- Pulses and Cereals
- Beverage
- Alcoholic
-
-
- Beer
- Wine
- Spirits
- Other Alcoholic Beverages
- Non-Alcoholic
- Fruit Juices
- Carbonated drinks
- RTD beverages
- Bottled Water
- Tea & Coffee
- Milk Products
-
- Personal care & Hygiene
- Skincare
- Haircare
- Makeup
- Fragrance
- Nailcare
- Homecare & Toiletries
- Toiletries
- Laundry Care products
- Personal Hygiene
- Air Fresheners
- Pharmaceuticals
- Consumer Electronics
- Medical Devices
By Level of Packaging:
- Primary
- Secondary
- Tertiary
By Manufacturing Technology:
- Injection Molding
- Thermoforming
- Blow Molding
- Extrusion
- Other Technologies
By Distribution Channel:
- Online
- Offline
By Region:
- North America
- Latin America
- East Asia
- South Asia & Pacific
- Western Europe
- Eastern Europe
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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