The global FMCG packaging market is forecast to expand at a CAGR of 5.7% from 2022 to 2032, with sales growing 1.8 times by 2032. Consumer products, such as food and hygiene products, account for more than half of the world’s packaging sales.
Packaging protects products during transportation, extends their usable life, and even communicates important information about the product’s composition and purpose. Packaging that is well-designed promotes good transportation and shelving while also reducing waste throughout the supply chain.
Due to the expansion of sectors such as electronic, pharmaceutical, food & beverage and personal care in emerging economies, sales in the FMCG packaging market are projected to remain high over the forecast period.
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Emergence of smart packaging solutions that are equipped with barcodes and QR codes for providing product information to consumers is a chief factor driving the market. Inclusion of smart tags and smart packaging is also improving inventory operations such as life cycle management, shelving and tracking in the warehouse.
For instance, Botch included smart technology in carton printing that tracks and traces the product movement throughout the supply chain. Besides this, PakSense has added ultra-contact labels- a temperature monitor label that highlights optimum temperature.
“Eco-friendly paper-based packaging is expected to gain traction over the forecast period, thereby augmenting the growth in the market. Growing environmental concerns and regulations on packaging will also create opportunities for players to improve product quality, which in turn will drive sales over the forecast period,” says the FMI analyst
Key Takeaways:
- Based on end use, sales in the food & beverage sector are projected to increase at a 6.1% CAGR through 2032.
- In terms of material, demand in the plastic segment will remain high.
- By material type, the rigid packaging segment is forecast to grow at a 5.5% CAGR over the assessment period.
- The U.S. will continue dominating the North America FMCG packaging market through 2032, with sales growing at a 5% CAGR.
- Sales in the India FMCG packaging market will grow at a robust 7.3% CAGR through 2032.
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Competition Landscape
Berry Global Inc., Crown Holdings, WestRock Company, Sealed Air Corporation, Sonoco Products Company, Ball Corporation, Kimberly-Clark Corporation, Mondi Plc, Huhtamaki Oyj, and Ardagh Group S.A. are some of players operating in the market profiled by FMI.
Leading players operating in the global FMCG packaging market are investing in research and development to launch sustainable packaging solutions for various end use sectors. In addition to this, players are investing in mergers, acquisitions and collaborations to expand their global presence in the market.
For instance:
- In December 2021, Mondi Group won nine WorldStar Packaging awards for introducing paper-based packaging for fruits, soaps, beverages, and others that optimized shelf life of the product.
- In May 2020, Acosta, a leading sales and marketing agency in the consumer-packaged goods industry, has been appointed to exclusively represent Ball Corporation’s aluminum cups in retail and on-premises outlets across the United States, including grocery, drug, and C-stores, food service, specialty channels, and select mass channel retailers.
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