According to a study by FMI, the packaging supplies market is valued at US$ 248 billion in 2022 and is projected to reach US$ 399.5 billion by 2032, growing at a CAGR of 4.9%.
The emergence of new markets in the e-retail space and their expansion into new marketplaces drive the consumption of various types of packaging supplies tailored to specific products. Packaging supplies vendors focus on developing durable and reliable packaging options that can withstand various environmental conditions, thereby boosting sales globally.
The adoption of advanced packaging supplies for future-oriented easy shipping, coupled with attractive pricing segments and new packaging options, drives the demand for packaging supplies. Government initiatives aimed at raising awareness about alternative packaging supplies also contribute to market growth.
The consumption of packaging supplies primarily comes from end-user industries such as food and beverages, healthcare, and cosmetics. This expansion into new regions enhances and broadens the packaging supplies market. Government investments in research and development have facilitated the creation of industry-specific packaging supply solutions by manufacturing units.
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Factors such as a growing population, evolving economic structures, changing lifestyles, and increased penetration of e-retail drive the sales of packaging supplies, enhancing the overall packaging experience.
In the food and beverage sector, new packaging systems improve food shipments and employ three key types of blow molding technology: injection, extrusion, and injection stretch blow molding. These solution-oriented approaches by end users contribute to the growth of packaging supplies sales in new regions.
However, environmental concerns and the impact of COVID-19 on offline markets have limited the sales of packaging supplies. Bioplastics used in packaging supplies are still relatively rare, and people are actively seeking alternative packaging solutions.
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.
Report Benefits & Key Questions Answered
Packaging Supplies Historical Market Analysis: The detailed survey by FMI, examines key factors in the Packaging Supplies market that affected the growth in the market for the last assessment period 2016-2020 and also studies their consequent impact. It also provide refined the sales projection of the Packaging Supplies market for the forecast period 2022-2032.
Packaging Supplies Category & Segment Level Analysis: The category & segment level analysis conducted by FMI studies the market in terms of segments. It studies the vital dynamics across each segment and also highlights their growth prospects in the coming ten years.
Packaging Supplies Demand Outlook Analysis: Future Market Insight’s (FMI’s) exhaustive study provides crucial insights into key drivers and upcoming opportunities driving the demand for Packaging Supplies for the assessment period. As per the study, the demand for Packaging Supplies will grow at a robust CAGR between 2022-2032.
Packaging Supplies Company & Brand Share Analysis:A recent study by FMI highlights a comprehensive list of leading market players and stakeholders in the global Packaging Supplies market.
Packaging Supplies Market Trend Analysis:The latest study by FMI on the Packaging Supplies market offers compelling insights into key expansion strategies adopted by top-tier players with respect to current trends. It discloses details regarding upcoming trends in the packaging industry to assist market players in constructing an effective strategy to capitalize on them.
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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
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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