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Global Packaging Market Size to Rise at USD 1494.29 Billion by 2031 With CAGR of 3.9% | Rising Demand Due to Increased Globalization and Technological Advancements

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“According to the SNS Insider report, the Global Packaging Market Growth was valued at USD 1100.30 billion in 2023 and is projected to reach USD 1494.29 billion by 2031, growing at a CAGR of 3.9% from 2024 to 2031”

E-commerce continues to rise, with a projected 22% of global retail sales by 2031.

This translates to a massive demand for strong yet lightweight packaging to ensure safe product delivery. Moreover, the Asia Pacific region, particularly China and India, supports an expanding middle class with rising disposable incomes. This affluent demographic, exceeding 1.8 billion people by 2031, craves convenience and is a prime target for packaged, ready-to-eat meals.  Sustainability also significantly influences packaging choices. A 2023 SNS Insider report highlights that over 80% of global consumers are willing to pay a premium for sustainable packaging.

A recent study by SNS Insider revealed that 73% of consumers globally are willing to pay more for sustainable packaging options.

This rising demand for eco-friendly solutions clashes with the reality of plastic’s dominance, as it still comprises roughly 40% of all packaging materials used. Furthermore, balancing functionality with aesthetics presents a constant hurdle. Packaging must effectively protect products during transport and storage, yet also be visually appealing to capture consumer attention on crowded shelves. Additionally, a labyrinth of regulations across different countries adds another layer of difficulty. These regulations include everything from labeling requirements to restrictions on specific materials, forcing companies to adapt their packaging strategies on a regional basis.

Global Packaging Market
Global Packaging Market

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Major Players Listed in this Report are:

Sealed Air Corporation, Amcor Ltd,  Constantia Flexibles International GmbH, Mondi plc, Sonoco Products Company, Wipak Group, Ukrplastic, Huhtamaki Oyj, Bemis Company Inc, Ampac Holding

ALPLA, Amcor Limited, DS Smith Plc, Berry Plastics Corporation, Klöckner Pentaplast, Plastipak Holdings, Inc., Pactiv Evergreen Inc, Sealed Air Corporation, Silgan Holdings, Inc.,Sonoco Products Compan

Borosil Glass Works Ltd, Allied Glass Containers Ltd, Owen Illinois Inc, Gallo Glass Company, Amcor Plc, Consol, Gerresheimer AG, Saint Gobain SA, Hindustan National Glass & Industries Limited, Orora Packaging Australia Pty Ltd

DS Smith plc, Packaging Corporation of America, International Paper Company, Nippon Paper Industries Company Ltd, ITC Ltd, Sappi Limited, Metsa Group, Stora Enso Oyj, Svenska Cellulosa Aktiebolget

A key indicator lies in the vast disparity of per capita packaging consumption.

In India, for instance, it sits at a mere 8.7 kg, dominate by developed nations like Germany (42 kg) and Taiwan (19 kg). This signifies a massive untapped market in developing regions, where economic growth and rising middle classes are driving a rise in packaged goods. Furthermore, the expanding e-commerce sector, particularly in Southeast Asia and Latin America, is demanding innovative packaging solutions for safe and efficient delivery. This presents an opportunity for companies to develop lightweight, tamper-evident packaging suitable for online retail.

Global Packaging Market Key Segments:

Flexible Packaging By Product Type

  • Pouches
  • Bags & Sacks
  • Labels
  • Films & Wraps

Rigid Packaging, By Product Type

  • Bottles & Jars
  • Boxes
  • Rigid Bulk Products
  • Trays
  • Tubs, Cups, & Pots
  • Pallets
  • Others

Glass Packaging, By Product Type

  • Bottle & Jars
  • Container
  • Vials
  • Others

Paper & Paperboard Packaging, By Product Type

  • Folding Boxboard
  • Solid Bleached Sulfate
  • Label Paper
  • White Lined Chipboard
  • Glassline & Grease Paper
  • Others

By Others

  • Green Packaging
  • Recyclable Packaging
  • Bioplastic Packaging
  • Customized Packaging
  • E-commerce Packaging

Recent Developments:

  • Nestlé, recently announced a USD 1.5 billion investment to develop fully recyclable or compostable packaging for all its products by 2025. This ambitious goal reflects a wider trend towards eco-friendly materials.
  • Coca-Colais piloting paper bottle prototypes made from recycled wood fibers, while PepsiCo is exploring home compostable chip bags.  On the e-commerce front, International Paper is investing in lightweight and durable corrugated cardboard solutions to meet the demands of online deliveries.
  • Amcor,a leader in flexible packaging, is developing smart packaging with integrated sensors to monitor product freshness during transport.

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External Impact:

A 2023 study by SNS Insider found that the e-commerce boom has raised demand for sturdy packaging by 42%, highlighting its role in facilitating a safe and efficient online shopping experience. Furthermore, growing environmental consciousness is reflected in a 38% rise in the demand for recycled content in packaging materials since 2020.

This trend is being driven by stricter government regulations, with a 20% increase in countries implementing plastic packaging bans since 2021.  The packaging industry also wields influence in the realm of public health.

Key Takeaways:

  • Consumers are increasingly driving demand for sustainable packaging solutions, promoting a significant rise in the use of biodegradable and recyclable materials.
  • This trend is particularly evident in the food and beverage industry, the largest consumer of packaging globally, gulping down over half of all packaging volumes.
  • The rise of e-commerce is another key influencer, promoting the need for innovative and functional packaging solutions that ensure safe delivery of products to distant customers.
  • Overall, the global packaging market is a dynamic space brimming with opportunities for companies that can cater to the evolving needs of consumers and businesses while keeping sustainability at the forefront.

Table of Contents – Key Points

  1. Introduction
  2. Research Methodology
  3. Market Dynamics
  4. Impact Analysis
  5. Value Chain Analysis
  6. Porter’s 5 forces model
  7. PEST Analysis
  8. Company profile of Global Packaging market
  9. Global Packaging Market Segmentation By Type
  10. Regional Analysis
  11. Company Profiles
  12. Competitive Landscape
  13. Conclusion

Continue….

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About Us:

SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company’s aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.

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Akash Anand – Head of Business Development & Strategy

info@snsinsider.com

Phone: +1-415-230-0044 (US)

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