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December 2024
The global packaging market size is estimated to grow from USD 1.20 trillion in 2022 to reach an estimated USD 1.58 trillion by 2032, growing at a 3.16% CAGR between 2023 and 2032.
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The global packaging sector generates a turnover of roughly 1.20 trillion dollars, with packing container sales accounting for the majority of this amount, while sales of packaging machinery are expected to be $46.10 billion. Packaging has become a vital item in our everyday lives, being used in a variety of industries including food and beverage, healthcare, cosmetics, and numerous consumer goods, as well as industrial fields. Its consumption is roughly consistent with the global economy's trajectory, with growth typically surpassing GDP in emerging nations. Rising living standards in these places frequently result in increasing consumption of packaged items such as food, beverages, and other essentials. In mature markets, still packaging growth tends to mirror or even lag GDP growth, as rising living standards often encourage the consumption of service-based offers above physical goods. Even in mature markets, there are still opportunities for packaging to outperform GDP growth, particularly when packaging serves as a facilitator for services like convenience and traceability.
Packaging has been a vital component of human life since antiquity, accompanying our journey from nomadic hunter-gatherer communities to contemporary civilizations. Early people used crude kinds of packaging fashioned from animal skins, leaves, hollowed-out wood pieces, and nut shells to deal with the constraints of geographical migrations and seasonal resource availability. Packaging evolved in tandem with human cultures through stages of domestication, agricultural growth, industrialization, and the creation of knowledge-based economies, adjusting to accommodate the changing demands and lifestyles of each era.
Presently there is a growing market demand for packaging solutions that promote sustainability. A sustainable package must excel at all three levels of sustainability: social, economic, and environmental. It should be cost-effective, bringing value to businesses while maintaining a user-friendly interface and reducing resource use., It must be recoverable and capable of maintaining the integrity of its contents. Innovation, knowledge exchange, and collaboration are essential in accomplishing these goals, and organizations such as the Global Packaging Organization (WPO) work to support such projects. Through programs such as the WordStar (Student) Award Scheme, WPO strives to realize its purpose of improving the value of life for a wider consumer through packaging solutions.
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Three Eras of Change in Packaging Past, Present and Future |
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| Era (Time Periods are Approximate) | Consumer | Packaging Product/ Innovation | Corporate/Value Chain Structure |
| 2000-09 Substrate Shift Changes |
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| 2010-20 Changing Face of the Consumer |
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| 2020- Sustainability and Digital Transformation |
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Era 1: Substrate Shift Changes (2000-2009)
Era 2: Changing Face of the Consumer (2010-2020)
Era 3: Sustainability and Digital Transformation (2020 and Beyond)
Asia currently accounts for the majority of global packaging sales, owing to the rapid expansion of wealthier middle-class populations in developing countries such as China and India. This population change is followed by increased spending as revenues rise. The expansion of single-member households, an attraction for ready-to-eat meals and smaller container sizes, urbanization, and the increase in online shopping all help drive the growth of the packaging market in Asia. Global patterns in consumption are impacting the packaging business, with the Asia-Pacific area expected to develop at the most rapid pace. The leaders of this expansion are China and India. The primary consumer of sustainable packaging is the food and beverage industry, promptly followed by the personal care and cosmetics sector. Growing demand for eco-friendly products, increasing customer knowledge of environmental issues, and government programs supporting environmentally friendly packaging practices are all projected to contribute to the resilient development in sustainable packaging that the region of Asia-Pacific is expected to experience.
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North America represents the globe's second-largest packaging market. The integrated markets of North America, consisting of the United States, Canada, and Mexico, account for a sizable percentage of the global packaging market. With an estimated revenue of 2,818 million euros in the United States alone by 2025. Though flexible packaging has reached commercial maturity in North America's industrialized nations, the outlook for future development is more muted. The United States appears as one of the fastest-growing packaging markets in the region. This expansion is being accelerated by the presence of major packaging businesses, such Amcor Ltd. and Mondi PLC, among others, which are supporting investments in R&D and innovation.
These companies play an important role in developing unique solutions to the market's different packaging difficulties. Their drive to push the boundaries of packaging technology ensures that the industry evolves indefinitely, fulfilling the ever-changing demands of consumers and businesses. The packaging industry in North America has an opportunity for continued expansion and adjustment owing to the strong foundation these industry leaders have laid. Innovation and appropriate investments will help the industry navigate the constantly shifting terrain of consumer preferences, legal requirements, and technology breakthroughs.
The European packaging market is rapidly expanding, with sustainability and environmental concerns taking primacy in all European countries. 74% of Europeans say that the problem of packaging waste has had a major impact on their purchasing decisions. Among European customers, more over half (52%) actively search out products packaged with eco-friendly materials; this percentage is significantly higher among French shoppers (55%) and Turkish shoppers (56%). Cardboard emerges as the preferred choice for eco-friendly packaging, with 52% of Europeans considering it is the most environmentally friendly material. This perspective is especially prominent in the UK, where 63% of consumers choose this material. Similarly, 45% of Europeans believe cardboard is the most recyclable material, followed by glass (32%). Tins/cans have the lowest perceived recyclability, behind only plastic marginally. The demand for protecting the environment has grown increasingly recognized across Europe.
"Easy to recycle" is ranked as the second preferred packaging feature, with 63% placing it in the top three. This is closely followed by the preference, which is highest among German consumers, for packaging composed of natural or renewable materials. As the European packaging market evolves, sustainable practices and environmentally friendly solutions are anticipated to remain important drivers of consumer preferences and industry developments.
Flexible packaging is the rapidly growing sector of the global packaging industry and is one of the best solutions for the e-commerce applications. By using flexible packaging, retailers may accomplish e-commerce shipping that is affordable, effective, and lightweight. Flexible packaging typically uses less energy during production and transportation, produces less product waste, which lowers greenhouse gas emissions, and uses less landfill space. This is because flexible packaging makes it possible to use resources efficiently and hence widely adopted by the e-commerce sector. Thus, the e-commerce flexible packaging market is anticipated to witness significant growth during the forecast period.
The global e-commerce flexible packaging market size is estimated to reach USD 72.45 billion by 2033, up from USD 32.51 billion in 2023, at a compound annual growth rate (CAGR) of 8.50% from 2024 to 2033.
The global packaging services market size is estimated to reach USD 116.25 billion by 2033, up from USD 48.37 billion in 2023, at a compound annual growth rate (CAGR) of 9.34% from 2023 to 2033.
Packaging services support companies with designing, manufacturing, testing, compliance and other support as well. Innovation, sustainability, design and regulations are all constantly evolving in the packaging market. These services assist in monitoring the new and updated laws, inventions as well as other significant advancements in the packaging sector.
North America is likely to grow at a considerable CAGR of 8.04% in the packaging services market during the forecast period. This is owing to the increasing adoption of eco-friendly materials and demand for regulatory compliance services due to the stringent health and safety standards. Furthermore, the changing consumer preferences towards convenience and single-serve options as well as the growing food, beverage and healthcare industries in the region is also expected to augment the growth of the market within the estimated timeframe.
The global industrial packaging market size is estimated to grow from USD 62.56 billion in 2022 to reach an estimated USD 101.42 billion by 2032, growing at a 5.0% CAGR between 2023 and 2032.
Industrial packaging offers an essential part in supply chain management in the Asia-Pacific region, ensuring the secure and effective movement of goods across a range of sectors. The need for effective and dependable packaging solutions has increased dramatically due to the region's quick industrialization, increasing urbanisation, and growing trade networks.
The global packaging market is divided into the main segment of healthcare. Medical equipment and pharmaceuticals are included in the healthcare sector. The size of the worldwide pharmaceutical packaging industry is predicted to rise significantly, from USD 117.23 billion in 2022. This market segment is essential to the healthcare sector since it guarantees the efficacy, integrity, and safety of pharmaceutical products. Companies that provide pharmaceutical packaging are essential to upholding patient safety, quality, and compliance across the whole pharmaceutical supply chain. Several factors, such as the growing need for creative packaging solutions that protect pharmaceutical items from contamination, tampering, and environmental variables, are driving the market's rise.
The pharmaceutical packaging sector has been continuously expanding, with a projected annual growth rate of at least five percent in the past five years, reaching a market value of more than $20 billion per year. Pharmaceutical plastic packaging, which protects pharmaceutical items from contamination, damage, degradation, and counterfeiting, is projected to increase from USD 51,781.4 million in 2022. This packaging segment includes plastic bottles, injectable containers, and blister packaging, with North America leading the industry because of a growth in new product launches that necessitate specific packaging solutions. The assignment of pharmaceutical manufacturing activities to emerging nations is generating new economic opportunities in the region. Packaging is an essential component of the medicine supply chain in the pharmaceutical industry, maintaining product safety and efficacy through tight international laws.
The global healthcare packaging market size to grow from USD 137.13 billion in 2023 to reach USD 229.91 billion by 2032, growing at a 5.9% CAGR between 2023 and 2032. The healthcare packaging is a packaging designed to protect and preserve the products and ensure it is safe to the consumer or patient. The healthcare packaging is made up of various materials such as plastic, glass, metal, paper and paperboard. Which is used to make packaging products such as primary packaging, secondary packaging and tertiary packaging. These packaging products are primarily used in pharmaceutical industry, medical devices and medical supplies.
Eco-friendly packaging has grown in popularity in the worldwide packaging market, owing to rising environmental concerns. Various types of eco-friendly packaging, including sustainable, compostable, and recyclable solutions, are being used throughout industries. The global sustainable packaging sector, estimated to be worth USD 260.21 billion in 2022, focuses on using ecologically friendly materials throughout a product's lifecycle to reduce waste and carbon emissions from packaging manufacturing, transportation, and disposal.
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Plant-based packaging, worth USD 110.48 million in 2022, uses materials sourced from sustainably cultivated plants, providing an eco-friendly alternative to non-renewable sources. Europe dominates this market, contributing 32.0% in 2022. The global green packaging industry, which is expected to be worth USD 303.83 billion in 2022, is expanding as consumers prefer sustainable packaging solutions, fueled by awareness of the environmental impact of single-use plastic.
Incorporating eco-friendly packaging improves the environment while also providing economic benefits and aligning with customer sustainability desires. As the global packaging business evolves, eco-friendly methods will become increasingly important in creating a more sustainable future.
The competitive landscape of the packaging market is dominated by established industry giants such as Nestle, General Mills, Polyplex Corporation, Klöckner Pentaplast Group, Renolit SE, Amcor PLC, Comar LLC, Unilever, Danone, Mondi PLC, WestRock Company, Pretium Packaging, Carcano Antonio, Constantia Flexibles, SCHOTT AG, Aptar Group Inc., Parekhplast India Ltd, Sealed Air Corporation, Huhtamaki Oyj, West Pharmaceutical Services, and PepsiCo. These giants compete with upstart direct-to-consumer firms that use digital platforms to gain market share. Key competitive characteristics include product innovation, sustainable practices, and the ability to respond to changing consumer tastes.
Amcor's packaging strategies are built on three pillars: innovation, personalization, and sustainability. These pillars enable the company to provide value-added solutions that help clients flourish while also contributing to a sustainable future.
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Leading seed businesses and agricultural associations collaborate with Winpak to develop bespoke packaging solutions and increase brand awareness. By forming strategic connections, businesses gain insight into consumer tastes and industry trends, allowing them to forecast demand and give superior packaging solutions.
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By Food & Beverage
By Healthcare
By Eco-friendly
By Material
By Packaging
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December 2024
December 2024
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December 2024
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