Packaging Market Size to Grow by USD 223.96 Billion From 2022 to 2027: A Descriptive Analysis of Customer Landscape, Vendor Assessment, & Market Dynamics - Technavio

NEW YORK, Nov. 26, 2022 /PRNewswire/ -- Technavio categorizes the global packaging market as a part of the metal and glass containers market, the parent market. The metal and glass containers market covers combined revenue generated by manufacturers/providers of metal, glass, and plastic containers and paper packaging. The global packaging market size is estimated to increase by USD 223.96 billion from 2022 to 2027. The market's growth momentum will accelerate at a CAGR of 3.92%.

Technavio has announced its latest market research report titled Global Packaging Market 2023-2027
Technavio has announced its latest market research report titled Global Packaging Market 2023-2027

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Global Packaging Market - Customer Landscape

To help companies evaluate and develop growth strategies, the report outlines –

  • Key purchase criteria

  • Adoption rates

  • Adoption lifecycle

  • Drivers of price sensitivity

Global Packaging Market – Vendor Analysis

Vendor Landscape - The global packaging market comprises some well-established players that are involved in the design and production of packaging solutions for various applications across a wide range of industries. These vendors are making significant investments in R&D to push better products into the market and expand their customer base.

Some big players are expected to implement some new strategies to gain competitive advantages during the forecast period. Mergers, acquisitions, and strategic partnerships are some of the ways the vendors in this market are taking to strengthen their position.

Vendor Offerings -

  • Ardagh Metal Packaging S.A.: The company offers packaging services such as beverage cans.

  • Ball Corp.: The company offers packaging services such as Alumi-Tek bottle, Crowler Can, and Widget Inside.

  • Berry Global Group Inc.: The company offers packaging services for applicators, bottles, and vials.

  • CCL Industries Inc.: The company offers packaging services such as high barrier films, easy opening films, and high speed films.

  • For Details on vendor and its offerings – Buy report!

Global Packaging Market - Segmentation Assessment

Geography Overview

By geography, the global packaging market is segmented into APAC, North America, Europe, the Middle East and Africa, and South America. The report provides actionable insights and an accurate estimation of the contribution of all regions to the growth of the global packaging market.

  • APAC held a 41% share of the global packaging market in 2022. The market in the region is estimated to grow at the fastest pace during the forecast period. The region is emerging as the major manufacturing hub for various industries. The thriving e-commerce industry, the rising trend of online shopping, and the rise in population have increased the demand for various goods through online channels. All these factors are increasing the demand for packaging solutions in the region.

Segment Overview

By end-user, the global packaging market is segmented into food, beverage, healthcare, personal care, and others.

  • The market share growth of the food segment will be higher than the other segments during the forecast period. The segment is mainly driven by the increasing global demand for canned and packaged food products. Changes in lifestyles and food habits due to the influence of western culture are some of the other factors influencing segment growth.

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Global Packaging Market – Market Dynamics

  • Impactful Driver - The growth of food delivery and takeaway services is driving the growth of the market. Rapid urbanization coupled with the busy lifestyles of consumers has led to a surge in the demand for convenient and on-the-go foods. There is also a significant rise in the demand for food delivery and takeaway services with the increasing adoption of smartphones and the growing m-commerce industry. The increase in online food ordering has resulted in a surge in the number of players that offer food delivery services. The growth of food delivery and takeaway services has subsequently increased the demand for packaging solutions in the food industry. All these factors contribute to the growth of the market.

  • Key Trend – Innovative market strategies adopted by vendors is the key trend in the market. Vendors in the market are adopting various growth strategies to remain competitive and gain an edge over their rivals. One of the key strategies adopted by vendors is the continuous development of new products. Similarly, some vendors are focusing on strengthening by consumer base by expanding their operations in new markets. Many such strategies adopted by vendors are positively influencing the growth of the market.

  • Major Challenge - Environmental concerns over the use of plastic packaging are the major challenges hindering market growth. Most end-users in the market prefer plastic disposable packaging as they are cheaper and help maintain a specific temperature for a longer period. Most of the disposable plastic packaging materials used by end-users are made of polystyrene or polypropylene, which do not decompose easily. This is leading to the accumulation of a large amount of solid waste. Hence, many governments are undertaking various initiatives to this issue by imposing restrictions on the usage of plastic. Such measures are reducing the usage of plastic packaging, which is expected to affect the growth of the global packaging market.

Driver, Trend & Challenges are the factors of market dynamics that state about consequences & sustainability of the businesses, find a few insights from, a free sample report!

What are the key data covered in this packaging market report?

  • CAGR of the market during the forecast period

  • Detailed information on factors that will drive the growth of the packaging market between 2023 and 2027

  • Precise estimation of the size of the packaging market and its contribution to the parent market

  • Accurate predictions about upcoming trends and changes in consumer behavior

  • Growth of the packaging market industry across APAC, North America, Europe, Middle East and Africa, and South America

  • Thorough analysis of the market's competitive landscape and detailed information about vendors

  • Comprehensive analysis of factors that will challenge the growth of packaging market vendors

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  • The mushroom packaging market share is expected to increase by 111.64 million units from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 14.06%. Initiatives by governments that support environmental-friendly packaging are one of the key drivers supporting the mushroom packaging market's growth.

  • The perforated packaging film market share is expected to increase to USD 665.78 million from 2021 to 2026, at a CAGR of 5.1%. The growing European imports of frozen foods are notably driving the perforated packaging film market growth, although factors such as the volatility in raw material prices may impede the market growth.

Packaging Market Scope

Report Coverage

Details

Page number

186

Base year

2022

Historical year

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 3.92%

Market growth 2023-2027

USD 223.96 billion

Market structure

Fragmented

YoY growth (%)

3.72

Regional analysis

APAC, North America, Europe, the Middle East and Africa, and South America

Performing market contribution

APAC at 41%

Key consumer countries

US, Canada, China, India, and UK

Competitive landscape

Leading companies, Competitive Strategies, Consumer engagement scope

Key companies profiled

Amcor Plc, AptarGroup Inc., Ardagh Metal Packaging S.A., Ball Corp., Berry Global Group Inc., CCL Industries Inc., CKS Packaging Inc., Crown Holdings Inc., DS Smith Plc, DuPont de Nemours Inc., Genpak LLC, Gerresheimer AG, Graphic Packaging Holding Co., Mondi plc, and Packaging Corp. of America.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of contents:

1 Executive Summary

  • 1.1 Market overview

2 Market Landscape

  • 2.1 Market ecosystem

3 Market Sizing

  • 3.1 Market definition

  • 3.2 Market segment analysis

  • 3.3 Market size 2022

  • 3.4 Market outlook: Forecast for 2022-2027

4 Historic Market Size

  • 4.1 Global packaging market 2017 - 2021

  • 4.2 End-user Segment Analysis 2017 - 2021

  • 4.3 Type Segment Analysis 2017 - 2021

  • 4.4 Geography Segment Analysis 2017 - 2021

  • 4.5 Country Segment Analysis 2017 - 2021

5 Five Forces Analysis

  • 5.1 Five forces summary

  • 5.2 Bargaining power of buyers

  • 5.3 Bargaining power of suppliers

  • 5.4 Threat of new entrants

  • 5.5 Threat of substitutes

  • 5.6 Threat of rivalry

  • 5.7 Market condition

6 Market Segmentation by End-user

  • 6.1 Market segments

  • 6.2 Comparison by End-user

  • 6.3 Food - Market size and forecast 2022-2027

  • 6.4 Beverage - Market size and forecast 2022-2027

  • 6.5 Healthcare - Market size and forecast 2022-2027

  • 6.6 Personal care - Market size and forecast 2022-2027

  • 6.7 Others - Market size and forecast 2022-2027

  • 6.8 Market opportunity by End-user

7 Market Segmentation by Type

  • 7.1 Market segments

  • 7.2 Comparison by Type

  • 7.3 Board - Market size and forecast 2022-2027

  • 7.4 Rigid plastic - Market size and forecast 2022-2027

  • 7.5 Flexible - Market size and forecast 2022-2027

  • 7.6 Metal - Market size and forecast 2022-2027

  • 7.7 Glass - Market size and forecast 2022-2027

  • 7.8 Market opportunity by Type

8 Customer Landscape

  • 8.1 Customer landscape overview

9 Geographic Landscape

  • 9.1 Geographic segmentation

  • 9.2 Geographic comparison

  • 9.3 APAC - Market size and forecast 2022-2027

  • 9.4 North America - Market size and forecast 2022-2027

  • 9.5 Europe - Market size and forecast 2022-2027

  • 9.6 Middle East and Africa - Market size and forecast 2022-2027

  • 9.7 South America - Market size and forecast 2022-2027

  • 9.8 US - Market size and forecast 2022-2027

  • 9.9 China - Market size and forecast 2022-2027

  • 9.10 UK - Market size and forecast 2022-2027

  • 9.11 India - Market size and forecast 2022-2027

  • 9.12 Canada - Market size and forecast 2022-2027

  • 9.13 Market opportunity by geography

10 Drivers, Challenges, and Trends

  • 10.1 Market drivers

  • 10.2 Market challenges

  • 10.3 Impact of drivers and challenges

  • 10.4 Market trends

11 Vendor Landscape

  • 11.1 Overview

  • 11.2 Vendor landscape

  • 11.3 Landscape disruption

  • 11.4 Industry risks

12 Vendor Analysis

  • 12.1 Vendors covered

  • 12.2 Market positioning of vendors

  • 12.3 Amcor Plc

  • 12.4 Ardagh Metal Packaging S.A.

  • 12.5 Ball Corp.

  • 12.6 Berry Global Group Inc.

  • 12.7 CCL Industries Inc.

  • 12.8 Crown Holdings Inc.

  • 12.9 DS Smith Plc

  • 12.10 DuPont de Nemours Inc.

  • 12.11 Gerresheimer AG

  • 12.12 Graphic Packaging Holding Co.

  • 12.13 Mondi plc

  • 12.14 Sealed Air Corp.

  • 12.15 Smurfit Kappa Group

  • 12.16 Sonoco Products Co.

  • 12.17 WestRock Co.

13 Appendix

  • 13.1 Scope of the report

  • 13.2 Inclusions and exclusions checklist

  • 13.3 Currency conversion rates for US$

  • 13.4 Research methodology

  • 13.5 List of abbreviations

About Us

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Global Packaging Market 2023-2027
Global Packaging Market 2023-2027
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