Packaging Market Size Anticipated to Attain USD 1.58 Trillion by 2032

Packaging Market Size Anticipated to Attain USD 1.58 Trillion by 2032

Status: Published Category: Others Packaging Insight Code: 5140 Format: PDF / PPT / Excel

The global packaging market 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.

Packaging Market Size 2023 - 2032

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Report Highlights: Important Revelations 

  • Global packaging sector is poised for growth, starting at a value of USD 1.20 trillion in 2022.
  • The market is expected to surge, reaching an estimated value of USD 1.58 billion by 2032.
  • This expansion is registered at a consistent CAGR of 3.16% over the period from 2023 to 2032.
  • Growth trends in the global packaging market driven by the food and beverage industry.
  • Increasing significance of healthcare packaging in the market.
  • Rising consumer demand propelling growth in the eco-friendly packaging sector.
  • Versatility and wide adoption of material packaging in the market.
  • Expansion of the packaging industry with advanced packaging solutions.
  • Packaging products diverse solutions for protection and containment.
  • Emerging packaging innovations and market trends.

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.

For Instance,

  • In February 2024, Lawgix International was purchased by Rapid Packaging, Inc. to bolster its national logistics strategy for its FIBC and industrial bag segment.
  • The packaging business has transformed thanks to digital printing technologies, which allow firms to produce bespoke and customized packaging designs with vivid colours, sharp graphics, and changeable data printing capabilities.
  • Growing emphasis on eco-friendliness, recyclable containers, and sustainable packaging techniques is reflected in the packaging sector's increasing sustainability trend.
  • A variety of its advantages in terms of convenience, portability, and weight, flexible packaging types, such as bags, pouches, sachets, and wraps, are a growing trend.
  • The Paper & Paperboard Market is witnessing a tremendous shift, fuelled by innovative trends that address the needs of a changing world.
  • The packaging, with its incorporated safety precautions (holographic labels, tamper-evident seals, track-and-trace technology), plays a vital part in reducing tampering, counterfeiting, and theft of items.

Regional Dominance Growing Demand for Packaging Market

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.

For Instance,

  • In December 2022, A majority interest in Parekhplast India Limited was purchased by Shriji Polymers (India) Limited, a producer of stiff plastic packaging solutions for the medicines sector.

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.

Packaging Market, DRO

Demand:

  • Demand of protective packaging during handling, storage, and transportation, packages is the primary protection against contamination, damage, and tampering with products.

Restraint:

  • Major restraint is the cost of packing materials, production, and shipping can be a barrier for manufacturers and merchants, especially those with low profit margins.

Opportunity:

  • Immense opportunities for Innovation in the design of packaging, resources, and modernization can be utilized to meet changing market demands, industry trends, and customer preferences.

Global Packaging Market Fuelled by Food and Beverage Industry

Bakery Packaging Market Statistics 2023 - 2032

Bakery packaging is a prominent section of the food and beverage packaging market, with worldwide bread sales expected to exceed $497.5 billion by 2022. Effective bakery packaging requires strong materials that can protect contents from contamination during storage and transit while also maintaining optimal baking quality through heat and moisture regulation. By 2023, the packaged food market in the Asia Pacific area is expected to rise by 3.5%, with packaged baked goods showing steady growth in many Asian nations.

For Instance,

  • In October 2023, Mile Hi Bakery was purchased by Grupo Bimbo from a smaller US rival. The massive baking company revealed its third-quarter earnings along with the Colorado acquisition.

Ice Cream Packaging Market Statistics 2023 - 2032

The market for ice cream packaging is expected to develop, with a beginning value of USD 831.98 million in 2022. Convenience and sustainability are becoming increasingly important driving factor in the globally ice cream packaging market. Brands are increasingly investing in new packaging solutions that promote both environmental sustainability and user comfort. The Asia-Pacific leads the global baby food packaging sector, with a 40.2% market share driven by high birth rates and rising purchasing power, particularly for milk formula and baby food items.

For Instance,

  • In October 2022, Huhtamaki, a top global provider of eco-friendly packaging solutions, launched ICON® packaging, mainly for ice cream cups and lids. In American towns where recycling programs for paper products are in existence, recycling has been made possible by this unique paper technology.

Non-Alcoholic Beverage Packaging Market Statistics 2023 - 2032

As of 2022, the non-alcoholic beverage packaging market is expected to reach a valuation of USD 172.2 billion, suggesting room for expansion. Non-alcoholic beverage market in the US is expected to increase rapidly, surpassing $395 million in August 2022. The non-alcoholic beverage packaging industry expands in response to a variety of beverage demands and characteristics. The packaging of non-alcoholic beverages adapts to the shifting needs of the market by developing innovative solutions in response to shifting customer preferences and industry trends.

For Instance,

  • In October 2021, DrinksDeli, an online retailer that supplies alcoholic beverages in places like Hong Kong, has extended its reach into India, where it now sells packaged coffee and cocktail mixers in addition to other non-alcoholic drinks.

Alcoholic Beverage Packaging Market Statistics 2023 - 2032

The alcohol business is developing smart packaging choices that prioritize convenience, sustainability, and unique experiences in response to changing consumer demands. In 2022, alcoholic market is USD 66.68 billion. The way alcohol is packaged is changing dramatically; single-serve drinks should come in bottles or cans, according to millennials in particular.

For Instance,

  • In August 2023, Tilray Brands claimed that it has secured an agreement to acquire eight Anheuser-Busch beverage and beer brands, strengthening the company's standing in the US craft beer industry.

Poultry Packaging Market Statistics 2023 - 2032

Poultry packaging solutions have significance for protecting diverse poultry components, necessitating an in-depth analysis of the best packaging options. Currently valued at USD 2.98 billion in 2022, the global poultry packaging sector is expected to increase. PET packaging has excellent gas barrier qualities, prolonging the shelf life of chicken products and decreasing food waste in global supply chains.

For Instance,

  • In November 2023, a few merchants on the East Coast, West Coast, and Midwest as well as online launched Tindle Foods' Tindle Chicken product at retail for the first time in the United States. The firm hopes this will be the first step toward a statewide rollout.

Snacks Packaging Market Statistics 2023 - 2032

Customers in the snack company are willing to pay a premium of 10% to 50% for packaging that meets snack specifications. In 2022, the global snack packaging market is expected to rise USD 17.82 billion.  Due to increase per capita incomes for snack goods such cookies, crackers, tortilla chips, and potato chips, the worldwide snack market is expected to reach USD 1,220.9 billion in revenue by 2023.

For Instance,

  • In December 2023, In North America, Kellanova envisions a moment when the earth was in abundance. Club®, Puff'd®, Snap'd®, Cheez-It®, and Cheez-It® Three well-known snack company, Crisps, have reduced the amount of plastic they use in their packaging without compromising the amount of delicious food that is included in each box.

Meat Packaging Market Statistics 2023 - 2032

Meat packaging market expected to reach USD 13.48 Billion in 2022. Global meat output predicted to increase by 12% to 382 million metric tons by 2032, meat packaging is essential for guaranteeing the quality, safety, and appeal of meat products along the supply chain.  

For Instance,

  • In May 2022, Prominent cured meat manufacturer Volpi Foods teamed up with the first flexible packaging company, C-P Flexible Packaging, to offer packaged deli meats' first compostable option.

Dairy Product Packaging Market Statistics 2023 - 2032

The dairy product packaging industry is projected to increase from USD 31.45 billion in 2022. With plastic currently making up more than 75% of packaging materials, the dairy product packaging industry prioritizes contamination avoidance, shelf-life extension, and consumer convenience.

For Instance,

  • In December 2023, A French firm has offered premium cheeses in Amcor's recyclable paper packaging. Amcor, a flexible and paper packaging powerhouse, supplied a French family-owned cheese company.

Tea Packaging Market Statistics 2023 - 2032

51% of tea drinkers select tea bags as their favourite way of tea packaging, which attempts to maintain the quality of tea from factory to cup. With a projected value of USD 5.92 billion in 2022, the global tea packaging market is expected to rise. The rise of tea-producing countries and rising per capita consumption are fuelling the global tea market's continued expansion.

For Instance,

  • In November 2022, to adapt to shifting consumer preferences, Indian Tata Consumer Products expanded its product line by introducing a Tulsi variant of their Tetley Green Tea brand.

Surging Importance of Healthcare Packaging

Pharmaceutical Packaging Market Statistics 2023 - 2032

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. To ensure product safety, traceability, and compliance, regulatory agencies from all over the world, including the FDA in the US and the EMA in Europe, have put strict rules and regulations for pharmaceutical packaging into place. The pharmaceutical packaging market is dominated by North America, especially the United States, because to stringent laws, a sophisticated healthcare system, and a strong emphasis on patient safety and compliance. With a $50 billion market value and a prominent supplier of pharmaceutical products to more than 200 countries, India is a big player in the pharmaceutical sector as well.

For Instance,

  • In August 2022, Spartech, an established supplier of engineered thermoplastics and specialized packaging solutions, makes the Tufpak® high-temperature polypropylene films and bags available. These products have global sterilizability properties and are mainly meant for medical and biopharmaceutical applications.

Non-hazardous waste makes up around 85% of the garbage produced by healthcare operations, including packaging for pharmaceuticals and medical equipment. This offers a chance to switch to reusable and environmentally friendly options, which can save a lot of money. The biodegradable pharmaceutical packaging industry is expected to grow most rapidly in the European market, where major manufacturers include International Paper, Berry Global, Gerresheimer, and Amcor.

 Pharmaceutical Plastic Packaging Market Statistics 2023 - 2032

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.

For Instance,

  • In September 2023, The Sanner Group, a global pioneer in creating and producing active healthcare products and components for medical devices, has opened its latest manufacturing plant in Kunshan, China, as part of its development of production capacity in Asia-Pacific.

Consumer Demand Driving Growth in Eco-friendly Packaging Industry

Sustainable Packaging Market Statistics 2023 - 2032

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.

For Instance,

  • In January 2024, Mondi plc (Mondi), a renowned global supplier of environmentally friendly packaging and paper, has successfully bought the Hinton pulp facility in Alberta, Canada.

Reusable Packaging Market Statistics 2023 - 2032

The global reusable packaging industry, which is expected to reach USD 113.77 billion in 2022, is seeing a rebound as a result of advances in sustainable packaging technologies.

For Instance,

  • In April 2023, Returnity, a leading delivery packaging firm, has launched a reusable solution designed specifically for merchants to improve logistics while minimizing environmental effect. Despite these developments, issues persist, such as excessive packaging trash output, with each person in Europe producing about 180 kg of packaging garbage yearly.In response, efforts are underway to promote recyclable packaging, which accounted for USD 28.7 billion in market size in 2022.

Europe leads in this regard, with stringent regulations mandating comprehensive producer responsibility schemes and recycling targets. Similarly, the Asia-Pacific region has seen growth propelled by statewide bans on single-use plastics and investments in R&D efforts by market players.

Recyclable Packaging Market Statistics 2023 - 2032

In 2022, the size of the globally recyclable packaging industry was estimated to be USD 28.7 billion. When packaging materials go through the proper processing procedures, they might potentially be reused or used. This is known as recyclable packaging. With the highest revenue share among regional markets, Europe has emerged as the largest market for accounting and budgeting software.  The objective is to design packaging that minimizes its impact on the environment, maximizes user experience, and performs as intended.

For Instance,

  • The European Union (EU) has implemented the EU Circular Economy Package, which includes stricter guidelines for reducing resource use and raising material recycling targets. By 2030, the European Commission wants to make sure that every packaging in the EU can be recycled or reused in a way that is financially viable.

Compostable Packaging Market Statistics 2023 - 2032

The compostable packaging industry, estimated to be worth USD 88.73 billion in 2022, provides better end-of-life performance since they can be broken down by microorganisms into natural components suited for agriculture. Challenges exist in the United States due to a lack of infrastructure for managing food and organic waste. Polylactic acid (PLA) has emerged as an important material in compostable packaging owing to its versatility and eco-friendliness.

For Instance,

  • In September 2023, Charter Next Generation (CNG), a leading US specialty filmmaker, and TIPA, a global pioneer in compostable packaging materials for food and fashion, have established a collaboration to encourage compostable packaging and local manufacture in the United States.

Plant-Based Packaging Market Statistics 2023 - 2032

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.

For Instance,

  • In June 2023, Boardio® launched a line of sustainable items in Canada, all of which contained great coffee. It's about time that coffee enthusiasts in North America had a closer look at our visually appealing, paper-based coffee packaging.

Edible Packaging Market Statistics 2023 - 2032

Edible packaging provides ease and eco-friendliness, meeting the growing demand for sustainable solutions. The global edible packaging market is expected to increase from USD 1.4 billion in 2022. Furthermore, the use of natural and plant-based packaging materials aligns with the growing emphasis on sustainability. Even with these improvements, recycling plastic packaging still faces difficulties; just 14% of the 78 million metric tons of plastic packaging produced worldwide is recycled annually. Address environmental issues related to packaging materials, efforts must be made to increase recycling rates and embrace more sustainable packaging alternatives.

For Instance,

  • The Ello Jello edible cup, created from seaweed, was the original product that helped Evo & Co., a leader in sustainable packaging solutions, stand out in the market.

Material Packaging Versatile and Widely Adopted in Packaging Market

Plastic Packaging Market Statistics 2023 - 2032

The global packaging sector is the largest sector owing to its wide adoption in packaging materials. Enhancing packaging quality and accessibility requires careful consideration of materials. With vital solutions for numerous industries, the global plastic packaging market was valued at USD 381.57 billion in 2022. Plastic packaging has been a popular option all around the world because of its adaptability, toughness, and affordability. Interestingly, with a notable YoY rise in export value of 63.6%, the United States continues to be the main buyer of Indian plastic industry exports.

For Instance,

  • In April 2023, The US-based corporation Colgate-Palmolive announced that it plans to investigate the introduction of a more affordable toothpaste tube option than the current recyclable plastic one. According to the CEO of the company, the goal is to switch out the existing toothpaste tube packaging with less plastic while yet keeping an elegant look. Colgate-Palmolive made this calculated decision because it is committed to promoting sustainability and minimizing plastic waste.

Paper and Paperboard Packaging Market Statistics 2023 - 2032

Paper and paperboard are pervasive in the production, distribution, marketing, and consumption of products. They make up almost one-third of the global packaging market, which is projected to reach 297.89 billion by 2022.  In Europe, packaging accounts for more than 40% of all paper and paperboard use, with the food industry using more than 50% of this material. The highest standard of environmental sustainability is a commitment shared by the paper packaging sector. Paper and paperboard packaging are being included into product packaging plans by well-known brands including Gucci, Rolex, Louis Vuitton, PepsiCo, Nestle, and P&G.

For Instance,

  • In August 2023, Graphic Packaging, a packaging firm based in fiber, has introduced its latest product, coated recycled paperboard (CRB), designed for use in commercial packaging.

Rigid Plastic Packaging Market Statistics 2023 - 2032

Rigid plastic packaging is widely used in industries such as pharmaceuticals, food and drinks, electronics, and personal care, with a global market value of USD 310.65 billion in 2023. The food and beverage industry makes extensive use of rigid plastic bottles to package a wide range of products, including water, cosmetics, carbonated soft drinks, food, juice, personal care products, and medications.

For Instance,

  • In May 2023, LanzaTech and Plastipak partner to manufacture the world's first PET resin that utilizes waste carbon.

Corrugated Packaging Market Statistics 2023 - 2032

Corrugated packaging is the largest segment of the packaging business by material volume. The global corrugated packaging market is expected to be worth USD 276 billion by 2022, demonstrating its significant market position. Cost-effective secondary corrugated board packaging is critical in protecting primary product packaging from damage and wear during handling.

For Instance,

  • 13 Mar 2023, Agarwal Enterprises is excited to announce the grand opening of "Rewynd," our innovative packaging eCommerce studio. With Rewynd, we are transforming the packaging sector by providing a comprehensive digital platform for all packaging requirements. This creative studio allows organizations to explore a wide range of packaging solutions, customisable designs, and eco-friendly materials that are tailored to their individual needs.

Metal Packaging Market Statistics 2023 - 2032

Metal packaging, including alcoholic and non-alcoholic beverages, remains a dependable and sophisticated packaging option. Metal packaging is becoming more and more popular because to its durability and capacity to be recycled, especially in regions where environmental consciousness is high, despite environmental worries about steel mining techniques and growing material costs.

For Instance,

  • In January 2023, Leading supplier of environmentally friendly packaging solutions CANPACK joined the Aluminium Recycling Coalition, a Dubai-based program started by Emirates Global Aluminium (EGA), in a calculated move.

Glass packaging, estimated at USD 60.96 billion in 2022, is recyclable and adheres to circular economy principles. Governments and business entities are rapidly supporting glass recycling projects to generate new goods and contribute to sustainability efforts.

For Instance,

  • In 2022, Simonds Farsons Cisk, a PepsiCo partner, has introduced a revolutionary refillable glass bottle to its product line. This innovation is consistent with the growing trend of sustainable packaging solutions, allowing customers to refill glass bottles rather than single-use containers.

Aluminium Foil Packaging Market Statistics 2023 - 2032

Aluminium foil packaging, valued at USD 35.23 billion in 2022, is highly recyclable, making it an essential component of sustainable packaging solutions. Consumer preferences for environmentally friendly solutions, particularly in the Asia-Pacific region, will fuel expansion in the refillable packaging market, which is expected to reach USD 41.50 billion by 2022.

For Instance,

  • May 2, 2023, Novelis was recognized in the May edition of Packaging Strategies for their pioneering innovations in beverage can and cosmetics packaging. This recognition demonstrates Novelis' commitment to improving sustainable packaging solutions across a variety of industries.

PCR Plastic Packaging Market Statistics 2023 - 2032

Eco-friendly and cost-effective solutions can be found in post-consumer recycled (PCR) plastic packaging, which is projected to be worth USD 39.78 billion by 2022. It addresses the plastic waste dilemma by utilizing recycled materials, which contributes to worldwide environmental mitigation efforts.

Various packaging materials and tactics are evolving to fulfil consumer aspirations for sustainability and environmental responsibility, propelling growth and innovation in the global packaging industry.

For Instance,

  • In December 2023, Food packaging containers that contain at least 10% post-consumer recycled (PCR) material and are recyclable in areas with facilities are introduced by Novolex®, a leader in packaging choice, innovation, and sustainability.

Growth of the Packaging Industry in the Advanced Packaging

Modified Atmosphere Packaging Market Statistics 2023 - 2032

Global packaging market varies with various packaging types which improves the quality and stability of product. Modified Atmosphere Packaging (MAP) has significant development potential in emerging nations due to changing dietary choices favouring packaged and fresh foods and rising disposable incomes. It is anticipated that the global market for MAP would grow from USD 18.33 billion in 2022. However, the pandemic's early effects caused a major disruption in globe-wide supply chains for the MAP market.

For Instance,

  • In February 2021, Berry Global Group, Inc. implemented a strategic investment in its wiping substrate capabilities in the US that exceeded USD 70 million. This large investment includes expanding manufacturing capacity and putting in a new production line. The project is to strengthen support for the company's continued business operations expansion and improve its capacity to satisfy the needs of its international clients.

Active Packaging Market Statistics 2023 - 2032

Active packaging is gaining popularity, particularly in industrial settings, because it extends product shelf life and ensures quality requirements. The global active packaging market is estimated to increase from USD 19.2 billion in 2022. Similarly, intelligent packaging, which includes a variety of technologies, is expected to be valued at USD 24.23 billion in 2023, with features such as product information and monitoring.

For Instance,

  • In June 26, 2023, AIP (Active and Intelligent Packaging) is going to introduce a new course on the subject on June 26, 2023. The goal of this course is to give students a thorough understanding of the dynamic field of active and intelligent packaging solutions, together with practical insights.

Smart Packaging Market Statistics 2023 - 2032

Smart packaging, estimated at USD 36.04 billion in 2022, improves product safety and security by utilizing technology such as RFID tags and QR codes for reliable tracking and authentication. Meanwhile, the Indian packaging business is growing steadily, at a 12% annual rate, with around 22,000 companies operating in diverse areas.

For Instance,

  • June 23, 2023, Prominent developments in smart packaging were presented during the AIPIA World Congress, such as Wiliot's revolutionary RFID-enabled battery-free Internet of Things pixels. The special capacity of these pixels to generate their own energy by collecting background radio waves.

Insulated Packaging Market Statistics 2023 - 2032

The global insulated packaging market is expected to increase from USD 14.38 billion in 2022, owing to increased disposable incomes and customer demand for safe and ecologically friendly solutions, particularly in developed and emerging countries. Because of China and India's thriving e-commerce sectors, Asia-Pacific has emerged as a prominent participant in the insulated packaging market.

For Instance,

  • In April 2023, Important vaccinations and medications can now be shipped without polystyrene thanks to a novel recyclable thermal packaging solution that Cytiva and TemperPack developed together. This innovative packaging solution is made from sustainable resources like paper and corn starch and is designed to efficiently withstand low temperatures while solving landfill waste issues.

Packaging Products Versatile Solutions for Protection and Containment

Stick Packaging Market Statistics 2023 - 2032

Packaging products used in the packaging market has significant growth in the future. The global stick packaging market is projected to reach USD 325.21 million in 2022, reflecting the robust demand for this packaging format with a staggering procurement of 16 billion stick packs. Forecasts suggest a promising year-over-year growth rate ranging between 5% and 7%, indicating a thriving market driven by increasing consumer preference for the convenience and versatility of stick packaging solutions. Notably, sustainability has emerged as a pivotal value driver, with 50% of consumers now ranking it among their top five priorities, and 34% showing willingness to pay a premium for sustainable products and services.

For Instance,

  • In January 2024, Asahi, an Asian firm, introduced a new stick-packed coffee concentrate in Vietnam that adheres to the ready-to-serve model.

Blister Packaging Market Statistics 2023 - 2032

Blister packs are widely utilized for various products, including contact lenses, offering protection against moisture and contamination. The global blister packaging market is estimated to grow from USD 25.63 billion, emphasizing its significance across diverse industries. 

For Instance,

  • In 2022, Amcor HealthCareTM unveiled the AmSkyTM Blister System, a revolutionary thermoform blister packaging made of polyethylene that is ready for recycling.

Sachet Packaging Market Statistics 2023 - 2032

The global sachet packaging market is forecasted to reach USD 8.89 billion in 2022, driven by its effectiveness in marketing, advertising, and promotional campaigns. The increasing demand for product samples to assess quality and reliability is expected to further fuel the growth of the sachet packaging market, particularly in emerging economies like India and China, which are poised to influence the Asia Pacific region's market dynamics.

For Instance,

  • In February 2023, ProActive Recyclable Paper-1000 was announced by ProAmpac, a material science and flexible packaging company. It is the first item in a line of the newest packaging options made of paper. It has remarkable directional rip qualities, a strong moisture barrier, and can be heat-sealed.

Single-Use Packaging Market Statistics 2023 - 2032

The single-use packaging market is anticipated to rise from USD 37.48 billion in 2022 to USD 63.74 billion, raising environmental concerns due to extensive usage and poor recycling practices of disposable plastics. Shockingly, over 90% of thrown plastic is not recycled, exacerbating environmental degradation and contributing to over 130 million tonnes of global plastic production, emitting more than 225 million tonnes of greenhouse gases during extraction and processing.

For Instance,

  • In August 2022, The Load & Fold and Load & Seal shopping bags are the two new styles from Duro, Novolex's newest bag line. For restaurants and retail businesses, these tamper-proof paper bags provide a more secure way to package and deliver orders.

Metalized Flexible Packaging Market Statistics 2023 - 2032

Metalized flexible packaging, consisting of flexible films reinforced by a thin metalized layer, particularly aluminium, offers distinctive protective attributes across various industries. The global metalized flexible packaging market is estimated to grow from USD 5.12 billion in 2022. Demand for flexible films is expected to increase, particularly in polymers like polyethylene, polypropylene, and polyester, with a significant portion required for multi-material multilayer flexible films.

For Instance,

  • In September 2023, Diversey has introduced a new product that makes recycling easier: SafePackTM Pouches. Leading manufacturer of cleaning supplies, infection control, and hygiene products worldwide, Diversey, has introduced their newest product: the "SafePackTM" pouches.

Automotive Packaging Market Statistics 2023 - 2032

Others packaging markets which help industry to grow demand. The global automotive packaging market is expected to grow from $8.18 billion in 2022 to around $13.87 billion by 2032, with an average annual growth rate of 5.4% between 2023 and 2032.

In the automotive industry, there's been a noticeable increase in packaging innovations due to the rising global demand for vehicles and replacement parts. Packaging needs are also changing as the industry shifts from mechanical to electronic systems.

Two significant trends are emerging in response to the demand for spare parts. There's a move towards reducing the volume of empty packaging and making better use of space. This helps cut down on waste and improves efficiency in packaging logistics. There's a shift towards developing inexpensive disposable packaging options driven by the need for cost-effective solutions in the automotive sector.

For Instance,

  • On April 11, 2022, the automotive aftermarket witnessed a surge in initiatives towards achieving net zero emissions in packaging. In this sector, companies like Sealed Air are intensifying their efforts to meet the 2050 net zero goals by advancing their timelines to 2040. While a significant portion of these endeavors will focus on reducing emissions in the manufacturing process of packaging materials, it's noteworthy that Sealed Air, along with much of the automotive industry, will also utilize carbon offsets through purchasing. Carbon offsets are credits generated from projects to reduce carbon emissions elsewhere, which are then available for sale on the open market.

Consumer Packaged Goods CPG Market Statistic 2023 - 2032

The market for consumer packaged goods, or CPGs, are an essential part of everyday living. They include a wide range of goods, from clothing and cosmetics to food and beverages. It is projected that the worldwide consumer packaged goods market would expand from USD 2132.1 billion in 2022.The consumer-packaged goods (CPG) sector in North America is still a major economic player, with a worth of over $2 trillion.

For Instance,

  • In August 2023, UNFI Insights, a solution developed with Crisp, an open data system for the consumer goods industry, was introduced by United Natural Foods, Inc. of North America.

Packaging Machinery Market Statistics 2023 - 2032

The market for packaging machinery is expected to expand with a beginning value of USD 46.10 billion in 2022. Packaging machine sales increased by more than 13% in 2022, indicating the industry's flexibility and tenacity. Significant investments made by manufacturers during the pandemic enhanced supply chain management and output, which in turn increased demand for packing machinery and supplies and propelled the packaging industry's growth.

For Instance,

  • In July 2023, Packaging machinery manufacturer Comexi expanded its presence in Asia-Pacific by building a new facility in Bangkok, Thailand.

Fragrance Packaging Market Statistics 2023 - 2032

The market for fragrance packaging is expected to develop globally and reach USD 2.14 billion in 2022.Fragrances are among the most traded products worldwide, with a total trade value of $19.5 billion, making them the 219th most significant commodity. Glass fragrance bottles add to the products' attractiveness by captivating clients with their sparkling characteristics. They come in a variety of forms with sculptural curves and delicately shaped edges.

For Instance,

  • In October 2023, Packaging designer Marc Rosen created an exquisite bottle of Formosa eau de perfume with a distinct scent. Every element pays homage to Taiwanese history and culture, from the locally made scent notes to the premium jade closure.

Packaging Automation Market Statistics 2023 - 2032

The market for packaging automation is expected to continue to grow with a beginning value of USD 64.70 billion in 2022. A growing focus on sustainability is reshaping the packaging automation market, as businesses automate operations to maximise resource efficiency and minimise waste and adopt eco-friendly packaging solutions.

For Instance,

  • In November 2023, an innovative automated liquid packaging system called the CRYOVAC Brand Vertical Form-Fill-Seal System was unveiled by SEE.

Mobile Cases and Covers Market Statistics 2023 - 2032

The global market for mobile cases and covers is expected to grow to a value of USD 22.48 billion in 2022. Technological developments, changing consumer lifestyles, fashion trends, and the steady release of new smartphone models are the main drivers of this market expansion. Mobile covers and cases represent the tastes and fashion choices of the user while acting as stylish and protective accessories. 

For Instance,

  • In February 2024, Youngkit became the industry leader by creating a revolutionary range of cases that revolutionized the design and safeguarding of many gadgets. A range of iPhone 15 Pro Max cases is one of their most recent products, demonstrating the brand's dedication to staying on the cutting edge of smartphone accessory design.

Jewellery Packaging Market Statistics 2023 - 2032

The market for jewellery box packaging is expected to increase, in 2022 at USD 159.86 million. Packaging is a major factor in drawing in customers and increasing sales; when it comes to jewellery products, packaging captures more than 50% of their attention. The way jewellery is packaged and presented greatly affects how valuable and desirable people think the pieces are, which influences their decision to buy and improves the overall experience.

For Instance,

  • In September 2021, Pandora, a Danish jewellery brand, introduced 'new and upgraded' packaging in its physical and online stores to replace plastic carrier bags.

Cosmetic Packaging Market Statistics 2023 - 2032

The total value of the global cosmetic packaging market is projected to increase at a 4.5% CAGR from USD 33.07 billion in 2022. Three main purposes are served by the special packaging for cosmetic and beauty products: brand positioning, consumer utility, and protection.  Over three-fifths of the beauty care products market in Asia Pacific, valued at USD 16.8 billion, comes from China. A product's packaging that is attractive and well-designed has the power to draw in customers amidst a plethora of rival choices.

For Instance,

  • February 9, 2023, Prominent entities within the beauty packaging sector, Alder Packaging and Axilone Group, have partnered to establish a remarkable global sustainable packaging alliance.

Key Players and Competitive Dynamics in the Packaging Market

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.

For Instance,

  • In May 2023, global packaging giant Amcor announced the signing of a final contract to acquire privately held Moda Systems, based in New Zealand. According to Amcor, the arrangement will provide a full range of end-to-end packaging solutions, including equipment, primary packaging, and additional on-site technical services and components.

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.

For Instance,

  • In March 2021, Winpak, a Canadian packaging company, reported a 17.9% increase in revenue last year, around $1.2 million, up from $1 million.

Packaging Market Player

Packaging leading market players are 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.

Market Segments

By Food & Beverage

  • Bakery Packaging
  • Ice-Cream Packaging
  • Non-Alcoholic Beverage Packaging
  • Alcoholic Beverage Packaging
  • Poultry Packaging
  • Snacks Packaging
  • Meat Packaging
  • Dairy Packaging
  • Tea Packaging

By Healthcare

  • Pharmaceutical Packaging
  • Pharmaceutical Plastic Packaging

 By Ecofriendly

  • Sustainable Packaging
  • Reusable Packaging
  • Recyclable Packaging
  • Compostable Packaging
  • Plant-based Packaging
  • Edible Packaging

By Material

  • Plastic Packaging
  • Paper & Paperboard Packaging
  • Rigid Packaging
  • Corrugated Packaging
  • Metal Packaging
  • Glass Packaging
  • Aluminium Foil Packaging 
  • PCR Plastic Packaging

By Packaging

  • Modified Atmospheric Packaging
  • Smart Packaging
  • Insulated Packaging

By Product

  • Stick Packaging
  • Blister Packaging
  • Sachet Packaging
  • Single-Use packaging
  • Metalized Flexible packaging

Others

  • Automotive Packaging
  • Packaging Automation
  • Cosmatic Packaging
  • Consumer Packaged Goods (CPG)
  • Fragrance Packaging Market
  • Mobile Cases and Covers
  • Jewellery Box Packaging
  • Packaging Machinery Market

By Region

  • Asia Pacific
  • North America
  • Europe
  • LAMEA

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About The Author

Swapna is a seasoned research consultant with expertise in conducting and analysing complex research projects across various industries. With a deep passion for knowledge discovery and a commitment to delivering actionable insights, Swapna has successfully collaborated with numerous organisations to help them make informed decisions and drive strategic growth. Swapna has developed a strong track record of designing and implementing research methodologies that generate high-quality data and meaningful results. Through careful attention to detail and a meticulous approach. She possesses a diverse skill set, including proficiency in data collection techniques, statistical analysis, and data visualisation. With expertise in both qualitative and quantitative research methods, Swapna is adept at crafting research frameworks tailored to the unique needs and objectives of each project. By leveraging advanced analytical tools and software, Swapna transforms complex data sets into concise and impactful reports that drive actionable insights.

Swapna excels in working closely with clients, understanding their research goals, and translating those goals into effective research strategies. Through clear and concise communication, Swapna ensures that research findings are presented in a manner that is easily understandable and actionable, enabling clients to make informed decisions and drive positive outcomes. She stays updated with the latest advancements in the field, constantly refining her skills and knowledge to provide cutting-edge research solutions. As a research consultant, Swapna is dedicated to helping organizations uncover valuable insights, solve complex problems, and achieve their strategic objectives. With a passion for research excellence and a commitment to client satisfaction, She is a trusted partner in driving evidence-based decision-making and empowering businesses to thrive in todays dynamic market landscape.

FAQ's

The global packaging market is highly competitive, with numerous manufacturers, suppliers, and packaging companies vying for market share through product innovation, strategic partnerships, and market expansion initiatives.

Regulatory compliance ensures product safety, quality, and environmental responsibility, with stringent regulations governing packaging practices worldwide to maintain market credibility and consumer trust.

Efficient packaging solutions optimize supply chain logistics, reduce transportation costs, and minimize product damage during transit, contributing to improved operational efficiency and profitability for businesses.

IFR, How to Robot, NIFTEM, National Library of Medicine, Deloitte, Vogue, National Chicken Council, FAO, HT Packagings.