Latest News- Packaging Market: Board is expected to lead the Type segment during 2025-2029
The Packaging Market is being driven by Growth of food delivery and takeaway services
The Packaging Market is expected to grow at a CAGR of 4.6% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 297.6 billion. The global packaging market is witnessing significant growth due to continuous product innovation from key players. For instance, Amcor Plc's introduction of AmFiber, a recyclable paper-based packaging platform for various consumer goods such as coffee, drink powders, snacks, candy, seasoning, and soups, sets a new standard for sustainable packaging solutions. In response to the increasing demand for aluminum cans, Ball Corporation has announced the expansion of its operations in South America, with a new manufacturing plant in Peru, located in Chilca, to meet the growing market needs. These strategic moves by industry leaders are driving the competition in the packaging market, encouraging the development of more advanced and eco-friendly packaging solutions.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Type (Board, Rigid plastic, Flexible, Metal, Glass) End-user (Food, Beverage, Healthcare, Personal care, Others) Geography (APAC, North America, Europe, Middle East and Africa, South America).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Packaging Market Research Report
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The Packaging Market encompasses various products such as high-barrier films, stand-up retort pouches, metal tins, and glass jars for food and beverages, as well as personal care items. Packaging solutions include department store displays prioritizing quality and presentation. Sustainable options like fiber-based egg cartons, foam packaging, advanced film technology, and lightweight foam plastics are gaining popularity. Corrugated boxes, stringent regulations, biodegradable plastics, recycled paper, compostable packaging, rigid protective packaging, and wrapping are also part of this dynamic industry.
In the packaging market, the supply chain for metal, glass, and plastic containers is intricately layered. Raw material procurement is a crucial element, with suppliers providing inputs such as steel, aluminum, tin for metal containers; borosilicate, neutral glass, soda-lime-silica glass, treated soda-lime glass, de-alkalized soda-lime glass, and regular soda-lime glass for glass containers; and high-density polyethylene (HDPE), low-density polyethylene (LDPE), polyethylene terephthalate (PET), polypropylene (PP), and polyvinyl chloride (PVC) for plastic containers. The R&D phase involves creating innovative packaging solutions, while large-scale manufacturing meets market demand. Distribution channels ensure end-users access these products efficiently.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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