Packaging Market Size to grow by USD 268.37 billion between 2024-2028
According to a research report “ Packaging Market” by 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)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 268.37 billion, at a CAGR of 4.29% during the forecast period. The global food delivery and takeaway market is experiencing robust growth, primarily driven by urbanization and the busy lifestyles of consumers. The surge in mobile phone penetration and the rise of m-commerce have significantly increased online food ordering. Consumers' preference for online platforms is escalating due to the convenience, cost savings from deals and discounts, and the accessibility of a wider range of restaurants. Online food services offer competitive pricing, making them an attractive option for consumers. The convenience and cost savings provided by mobile applications and online portals have made them the preferred choice for ordering food.
Browse market data tables, figures, and in-depth TOC on “Packaging Market” by 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) Global Forecast to 2028. Download Free Sample
By Type, the Board segment is projected to dominate the market size in 2024
In the packaging market, the food segment is projected to dominate the end-user landscape, driven by the rising trend of consuming packaged foods due to shifting dietary and lifestyle preferences. The global packaging industry is experiencing significant growth, primarily due to the expansion of the packaged food sector. Manufacturers are responding to consumer demands by transitioning to more durable packaging solutions that ensure product safety and longevity during transportation. Furthermore, the increasing popularity of canned food products, which offer extended shelf-life and convenience, is significantly contributing to the growth of the food packaging segment.
By End-user, Food segment is expected to hold the largest market size for the year 2024
In the realm of packaging, paperboard, also referred to as cardboard, emerges as a preferred choice due to its unique characteristics, including foldability and rigidity. This lightweight yet robust material is ideal for various packaging applications. Notable paperboard types include folding boxboards, chipboards, bleached paperboards, craft boards, laminate boards, and containerboard. Among these, bleached paperboard stands out for its extensive usage in sectors such as medical, cosmetics, frozen food, and confectionery. The escalating demand for personalized packaging fuels the market growth, with manufacturers prioritizing customized designs and graphics to captivate consumers.
APAC is forecasted to hold the largest market size by region in 2024
The packaging market in Asia Pacific (APAC) is experiencing robust growth, driven by expanding end-user industries and a high concentration of manufacturing sectors in the region. Developing economies, including China and India, are anticipated to significantly contribute to the market's revenue growth. The rapid expansion of industries such as e-commerce, Fast-Moving Consumer Goods (FMCG), and personal care sectors is fueling the demand for packaging solutions. Moreover, the e-commerce industry's growth in countries like China, India, and Japan, fueled by population growth and increasing internet penetration, is further increasing the overall demand for packaging in APAC.
The Packaging Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The packaging market encompasses a wide range of products, from wrapping paper and ribbons to rigid protective packaging and advanced film technology. Sustainability is a key trend in the industry, with eco-friendly options such as compostable packaging, recycled paper, and biodegradable plastics gaining popularity. Stringent regulations are driving the demand for sustainable packaging solutions in various sectors, including department stores, personal care, food and beverages, and more. Rigid protective packaging, such as corrugated boxes and fiber-based egg cartons, offer excellent protection for fragile items. Lightweight foam plastics and advanced film technology provide efficient and effective solutions for presenting and preserving products. In the food and beverage industry, high-barrier films and stand-up retort pouches ensure product freshness and longevity. Glass jars and metal tins continue to be popular for their presentation and quality, while biodegradable alternatives offer a more sustainable alternative. Overall, the packaging market is constantly evolving to meet the changing needs of consumers and regulations, offering innovative and sustainable solutions for various industries.
Market Research Overview
The packaging market encompasses a wide range of products and technologies, including PaperBoxes, wrapping, rigid protective packaging, compostable packaging, and biodegradable plastics. E-commerce has driven significant growth in the market, with a focus on lightweight and cost-effective attributes, such as corrugated boxes and slimline collections. In the food and beverage sector, there is a trend towards eco-friendly packaging, with an increasing demand for recycled paper, fiber-based egg cartons, and high-barrier films. Advanced film technology and foam egg packaging are also popular, providing excellent protection and presentation. Stringent regulations have led to the use of biodegradable plastics and compostable packaging, which offer sustainable alternatives to traditional plastic packaging. Digital printing technology, such as flexography, has revolutionized the industry, allowing for personalized and customized packaging for various industries, including personal care, department stores, and food and beverages. Materials used in packaging include Paper and Paperboard, Metal, Glass, and Plastic. The use of sustainable materials, such as recycled paper and biodegradable plastics, is becoming increasingly important, as consumers demand eco-friendly options. Quality and presentation remain key factors in the market, with glass jars, metal tins, and stand-up retort pouches being popular choices for certain products. Overall, the packaging market continues to evolve, with a focus on innovation, sustainability, and cost-effectiveness.
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