Consumer Packaging Market

Future Market Insights (FMI) has released a new report that outlines a robust future for the global consumer packaging market. With an estimated valuation of $655 billion in 2024, the industry is poised for significant growth, projected to reach $950 billion by 2034, driven by a compound annual growth rate (CAGR) of 3.8% during the forecast period.

Key growth factors:

1. The Rise of E-Commerce: The rise of online shopping is a major catalyst for the growth of consumer packaging. As e-commerce continues to expand, there is a growing need for effective packaging solutions that ensure product safety and enhance the consumer experience. Innovative packaging solutions are essential for protecting goods during transport and appealing to consumers, making them a key factor in the success of online retail.

2. Sustainability trends: Sustainability is becoming a significant factor in consumer packaging. As consumer awareness and preference for eco-friendly products grows, there is a shift towards using biodegradable and recycled materials. Companies are increasingly adopting sustainable practices, driven by the demand for packaging that minimizes environmental impact.

3. Innovations in packaging solutions: Consumer packaging is evolving beyond mere functionality to become a key element of marketing and branding. Flexible packaging, which accounts for about two-thirds of the market value, offers unique benefits such as flexibility, lightweighting and extended shelf life. In addition, the use of eco-friendly materials such as paper, bioplastics and wood is gaining popularity, reflecting a broader trend towards environmental responsibility.

4. Demand in the cosmetics and personal care industry: The beauty and personal care sector is a key growth driver in the consumer packaging market. The industry’s focus on innovative and aesthetically pleasing packaging solutions is driving demand. Brands are investing in premium and customized packaging to enhance product presentation and stand out in a competitive market.

Industry growth factors:

• Sales of consumer goods: Growing sales of consumer goods increase demand for packaging solutions.
• Ecological campaign: Growing consumer and regulatory pressure for sustainable packaging solutions is driving the increased use of recyclable and biodegradable materials, reducing negative environmental impact.

Main trends in the consumer packaging market:

Technology Integration:

• The integration of technology into packaging, such as QR codes, RFID tags and sensors, is becoming increasingly common.
• These technologies increase levels of interactivity, product traceability and supply chain transparency.

Focus on Sustainability:

• Companies are focusing on sustainability when developing packaging solutions to meet changing consumer preferences.
• Research and development activities are focused on the search for new bio-based materials and sustainable packaging options.

Regional information:

North America: The United States leads the world in consumer packaging demand, driven by high consumption of consumer goods and a strong e-commerce sector.

Europe: Germany and other European countries are investing significantly in sustainable packaging solutions, which is contributing to the growth of the regional market.

Key findings from the global consumer packaging market

• The global consumer packaging industry is estimated to be worth 655 billion US dollars in 2024.
• In terms of packaging format, flexible packaging is the market leader, with a value share of approximately 2/3^rdwhile the rigid segment is expected to grow at a significant CAGR of 4.8%.
• Taking into account the material, it is estimated that by 2034 plastic will account for half of the market value.
• According to the end user, the food industry is poised to achieve total value 489 billion US dollars until 2034.
• North America is expected to gain more than 1/5^t its share in value at the end of the years covered by the forecast.
• East Asia is set to grow at a pace 4.7% CAGR and achieve valuation 245 billion US dollars until 2034.
• Demand in the United States is expected to increase by 2.9% CAGR until 2034.
• India to record CAGR of 5.7% between 2024 and 2034.

Growing use of rPET packaging

The European Union has introduced a regulation to include at least 25% recycled polyethylene terephthalate (rPET) in its products. This has led to a shift towards a circular economy in the plastics industry.

Today, manufacturers are looking to responsibly source recycled materials and invest in recycled packaging technologies. For example, in October 2023, Coca-Cola introduced its beverages in 20-ounce bottles made from 100% recycled PET, demonstrating its commitment to sustainable packaging practices. Similarly, in August 2023, ENVICCO unveiled Thailand’s first bottle made from 100% recycled PET, a significant step towards the adoption of recycled materials in the region.

Who wins?

Top players are focused on developing sustainable packaging solutions with eco-friendly and recycled materials to appeal to eco-conscious customers. They are also using strategies such as partnerships, agreements, alliances, collaborations and acquisitions to stay ahead.

Access to the full report: https://www.futuremarketinsights.com/reports/consumer-packaging-market

Segmentation of the Global Consumer Packaging Industry

By packaging format:

• Flexible packaging
  • Bags
  • Bags and sacks
  • Films and packaging
  • Sachets
  • Stick Packs
  • Cups
  • Pipes
  • Labels
  • Seashell
• Rigid packaging
  • Trays
  • Blisters
  • Tubs and Lids
  • Caps and closures
  • Pumps and dispensers
  • Boxes
  • Cardboard boxes
  • Bottles and jars
  • Cans
  • Cores and tubes

By material:

• • Polypropylene
  • PET
  • PVC
  • Nylon
  • EVO
  • Polystyrene
  • Post-consumer recycled (PCR)
  • Bioplastic
    • PLA
    • Starch-based plastics
    • Bio-PET
    • Bio-PE
    • Others
• Paper
• Aluminum foil
• Wood
• Metal

By end use:

• Food
  • Bakery and confectionery
  • Dairy products
  • Baby food
  • Edible oil
  • Meat Poultry and seafood
  • Snacks
  • Spices and additives
  • Fruits and vegetables
  • Pet food
  • Ready-to-eat food
  • Legumes and cereals
• Drink

• • • Beer
    • Wine
    • Ghosts
    • Other alcoholic beverages
  • Non-alcoholic
    • Fruit juices
    • Carbonated drinks
    • RTD drinks
    • Bottled water
    • Tea and coffee
    • Dairy products
• Personal care and hygiene
  • Skin care
  • Hair care
  • Makeup
  • Smell
  • Nail care
• Home Care & Toiletries
  • Toiletries
  • Laundry products
  • Personal hygiene
  • Air fresheners
• Pharmaceutical products
• Consumer electronics
• Medical devices

By packaging level:

• Basic
• Secondary
• Tertiary

According to production technology:

• Injection molding
• Thermoforming
• Blow molding
• Ejection
• Other technologies

By distribution channel:

By region:

• North America
• Latin America
• East Asia
• South Asia and Pacific
• Western Europe
• Eastern Europe
• Middle East and Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, Stevie Award winner and member of the Greater New York Chamber of Commerce) offers in-depth insights into the factors driving market demand. FMI is a leading global provider of market intelligence, advisory services, consulting and events for the packaging, food and beverage, consumer goods, technology, healthcare, industrial and chemical markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional and local expertise on various industry disciplines and trends in over 110 countries.

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Website: https://www.futuremarketinsights.com
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