Consumer packaging

The global consumer packaging market is poised for significant growth, fueled by rising consumer demand, a boom in e-commerce, and the growing importance of sustainability. According to a recent analysis by Future Market Insights (FMI), global sales of consumer packaging products are expected to total $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 $950 billion by 2034.

Basic Concepts in the Plastic Consumer Packaging Industry

• Current market value (2024): 655 billion US dollars
• Demand outlook (CAGR to 2034): 8%
• Estimated market size (2034): 950 billion US dollars
• Key growth factors: Growing 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 regularly consumed and replenished
• Consumer package: Packaging products for protecting and marketing consumer products

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Key market dynamics factors:

1. Sustainability as a driver of growth:
   • Growing consumer preferences for sustainable packaging solutions are forcing companies to incorporate biodegradable and recycled materials into their products. This shift is reshaping the packaging industry, making sustainability a central focus for leading players.
2. The Rise of E-Commerce and Consumer Packaging:
   • The rapid growth of online shopping significantly affects the demand for innovative packaging solutions. Companies are increasingly investing in packaging that not only protects products during transport, but also increases visual appeal and functionality, which is crucial for consumer purchasing decisions.
3. The dominance of flexible packaging:
   • Flexible packaging is expected to dominate the market, capturing about two-thirds of the value share in 2024. Its unique properties – such as flexibility, lightweight, versatile design and extended shelf life – make it the preferred choice for various industries.
4. Plastic packaging is leading the way, but eco-friendly alternatives are gaining popularity:
   • Plastic remains the most commonly used packaging material for consumer goods, accounting for more than half of the market share. However, there is a growing trend toward sustainable packaging materials such as paper, bioplastics and wood, driven by environmental concerns and regulatory pressures.

Influence of the cosmetics and skin 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:

• 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.

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.

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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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