The packaging refers to the systematic procedure of enclosing or protecting products for safe distribution, storage, sale, and usage. The packaging provides a protective layer on the products, thus saving them from physical damage while enhancing the sustainability of the products for a longer time. It also helps in retaining the freshness of the product and make the shipment process easier.

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 The key drivers that are boosting the demand of the packaging market include the growing acceptance of digital printing across numerous brands across the globe. Digital print on the packing of the goods improves the product appeal while providing relevant product information such as date of manufacturing, ingredients used in the products, and price of the product. Moreover, the increasing technological advancement and product innovation will create numerous growth opportunities in the market, hence encouraging the manufacturers towards the adoption of attractive packaging for unique brand recognition. The increasing accessibility of third-party logistics service companies in the packaging industry will further surge the demand of the market over the coming years.

The continuous use-sectors of packaging, such as retail, food, consumer goods, and pharmaceuticals sector, will energize the demand of the market. The increasing urbanization, followed by the changing diet patterns, and the growing population rate, are some other factors that are contributing to the growth of the packaging market size. With the rising economic growth and increasing personal disposable income, the consumers have started looking for ready-to-eat packed food products. Furthermore, various food & beverage manufacturers are focusing on expanding their product offerings with reusable packaging materials and investing in R&D activities in biodegradable packaging. All these factors will further bring an upsurge in the demand for the packaging market. The increasing penetration of the Internet and smartphones around the world is leading to the expansion of the e-commerce market, which in turn, is boosting the growth of the market. On the other hand, the rising number of stringent government policies on the volatile organic compound (VOC) emissions are hampering the growth of the packaging market.

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Based on material, the packaging market is segmented into paper & paperboard, rigid plastics, flexible, metal, glass, and others. Among these, the paper & paperboard segment is expected to grow at a higher CAGR in the next six years. This is due to the significant shift in the consumer’s preference for paper and paperboard packagings, such as folding, corrugated board, protective mailers, or cardboard and lose fills, owing to the increasing environmental concerns.

Based on function, the cushioning segment is anticipated to lead the packaging market during the forecast period owing to the increasing preference of this packaging in shipment and road transportation to eliminate the possibility of physical damage of the products. The usage of the cushioning material reduces the impact of sudden shock during the immobilization of the containers.

Based on the application, the packaging market is segmented into food, beverage, healthcare, cosmetics, industrial, consumer goods, and others. Among these, the food and beverage segment is expected to witness a faster CAGR over the forecast period. This is attributed to the increasing preference of the consumer for ready-to-eat packed food products across the globe. Furthermore, the increasing penetration of smartphones and online food delivery will further strengthen the demand of the segment in the market.

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On the basis of the region, the Asia-pacific region is predicted to lead the packaging market during the forecast period. The major factors that are boosting the demand of the market in this region include the growing penetration of smartphones and the Internet in the Asia-pacific region, followed by the expansion in the pharmaceutical industry in emerging economies such as China and India. Furthermore, the rising number of manufacturing activities to capture the increasing demand for several products is further promoting the end-users to opt for packaging solutions to avoid any damage to the products before reaching the target consumers.

Various notable players operating in the market, include Sealed Air Corporation, Berry Plastics Group Inc., Coveris Holdings S.A., Ball Corporation, Crown Holdings, Amcor Limited, Mondi, ProAmpac., Reynolds Group Holdings, and Bemis Company Inc., among others.

Key Developments: 

• • In 2020, Mondi collaborated with Mera Tiernahrung GmbH, a german pet food maker, to develop an innovative packaging concept for a new type of dog food. Mondi’s FlexiBag Recyclable is a mono-material, polyethylene-based product with a barrier that is fully recyclable.
  • In 2020, Ball Corporation entered into a partnership with Blue Ocean Innovative Solutions to launch its infinitely recyclable aluminum beverage cup into Walmart and Sam’s Club locations in the U.S.

The global packaging market is segmented on the basis of material, function, application, and regions. Based on the material, the market has been segmented into paper & paperboard, rigid plastics, flexible, metal, glass, and others. Based on the function, the market has been segmented into cushioning, blocking & bracing, void-fill, insulation, wrapping, and others. Based on the application, the market has been segmented into food, beverage, healthcare, cosmetics, industrial, and other consumer goods.

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Key questions answered in this research report:

• • At what pace is global Packaging market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Packaging market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Packaging market?
  • Which Material generated maximum revenues in 2019 and identify the most promising Material during the forecast period?
  • What are the various application areas of global Packaging market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Material, By Function, By Application, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Sealed Air Corporation, Berry Plastics Group Inc., Coveris Holdings S.A., Ball Corporation, Crown Holdings, Amcor Limited, Mondi, ProAmpac., Reynolds Group Holdings, and Bemis Company Inc.., among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Packaging Market by Material

• • Paper & Paperboard
  • Rigid Plastics
  • Flexible
  • Metal
  • Glass
  • Others

Global Packaging Market by Function

• • Cushioning
  • Blocking & Bracing
  • Void-fill
  • Insulation
  • Wrapping
  • Others

Global Packaging Market by Application

• • Food
  • Beverage
  • Healthcare
  • Cosmetics
  • Industrial
  • Others

Global Packaging Market by Region

• • North America Packaging Market (Option 1: As a part of the free 25% customization)
    • North America Packaging Market by Material
    • North America Packaging Market by Function
    • North America Packaging Market by Application
    • US Packaging Market All-Up
    • Canada Packaging Market All-Up
  • Europe Packaging Market (Option 2: As a part of the free 25% customization)
    • Europe Packaging Market by Material
    • Europe Packaging Market by Function
    • Europe Packaging Market by Application
    • UK Packaging Market All-Up
    • Germany All-Up Packaging Market All-Up
    • France Packaging Market All-Up
    • Spain Packaging Market All-Up
    • Rest of Europe Packaging Market All-Up
  • Asia-Pacific Packaging Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Packaging Market by Material
    • Asia-Pacific Packaging Market by Function
    • Asia-Pacific Packaging Market by Application
    • China Packaging Market All-Up
    • India Packaging Market All-Up
    • Japan Packaging Market All-Up
    • Rest of APAC Packaging Market All-Up
  • RoW Packaging Market (Option 4: As a part of the free 25% customization)
    • RoW Packaging Market by Material
    • RoW Packaging Market by Function
    • RoW Packaging Market by Application
    • Brazil Packaging Market All-Up
    • South Africa Packaging Market All-Up
    • Saudi Arabia Packaging Market All-Up
    • UAE Packaging Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Packaging Market All-Up

Major Players Operating the Packaging (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Sealed Air Corporation
  • Berry Plastics Group Inc.
  • Coveris Holdings S.A.
  • Ball Corporation
  • Crown Holdings
  • Amcor Limited
  • Mondi
  • ProAmpac.
  • Reynolds Group Holdings
  • Bemis Company Inc.