Enjoy complimentary customisation on priority with our Enterprise License!
The container and packaging market size is estimated to grow at a CAGR of 8.55% between 2024 and 2028. The market size is forecast to increase by USD 591.62 billion. The growth of the market depends on several factors such as the growth of e-commerce, the increasing demand for sustainable packaging and the rising demand from the food and beverage industry.
This container and packaging market report extensively covers market segmentation by product type (paperboard, rigid plastic, metal, glass, and others), end-user (food and beverage, healthcare, industrial, personal care, and others), and geography (APAC, North America, Europe, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2018 to 2022.
To learn more about this report, Request Free Sample in PDF
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The growth of e-commerce is notably driving the market growth. Expansion of the e-commerce industry globally has had a huge impact on the global container and packaging market. As online shopping grows in popularity throughout the world, so does the demand for packaging materials and solutions. The need for safe and secure packaging to protect products during transit is one of the primary drivers of this rise. E-commerce retailers and logistics providers require innovative packaging solutions that can resist the rigors of long-distance transportation and ensure that products arrive in good condition. As online shopping grows more popular, the expansion of e-commerce as a driver in the global container and packaging industry is projected to continue and evolve.
As a result, this will encourage even more innovations in packaging materials, designs, customization possibilities, and sustainability practices in order to fulfill the changing demands and expectations of both merchants and customers. Thus, the growth of e-commerce will drive the growth of the global container and packaging market during the forecast period.
Sustainability in containers and packaging solutions is an emerging trend shaping the market growth. Sustainability is a major trend in the global container and packaging market. Businesses are attempting to reduce their carbon footprint and waste generation as environmental awareness and regulations increase. Consumer demand for eco-friendly packaging products is driving the rise in the popularity of sustainable packaging options. For instance, reducing material waste which is one of the most important parts of packaging sustainability is reducing the generation of packaging material waste. Lightweighting, downsizing packaging, and using materials with a higher proportion of recycled content are all tactics used by businesses in the market. This reduces waste generation and the consumption of resources like water and electricity across the production cycle.
Similarly, green certifications and labels where any packaging firms are obtaining green certifications and labels to demonstrate their commitment to sustainability, such as the Forest Stewardship Council (FSC) accreditation, Sustainable Forestry Initiative (SFI) certification, or compostability certificates. These certifications reassure buyers that the packaging complies with specified environmental regulations. Thus, sustainability in container and packaging is a growing trend driven by consumer demand and environmental regulations, which, in turn, will drive the growth of the global container and packaging market during the forecast period.
The rising cost of raw materials is a significant challenge hindering the market growth. The surge in raw material prices is posing a substantial challenge to the global container and packaging market. Plastics, metals, paper, and glass are all important raw materials used in the production of containers and packaging solutions. However, fluctuations in the prices of these raw materials can have a substantial impact on the profitability and sustainability of market vendors. Several factors are influencing the rise in raw material costs in the global container and packaging market. Also, the surge in raw material costs puts pressure on container and packaging vendors to come up with new ways to stay profitable. Companies undertake strategies such as investing in research and development to create cost-effective and environment-friendly alternative materials or production techniques.
In addition, some producers may also investigate alternative sourcing methods or opt for collaborations in order to ensure a consistent supply of raw materials at competitive prices. Factors such as economic trends, political tensions, environmental concerns, regulatory measures, limited availability, and energy costs contribute to this rise, which, in turn, will hamper the growth of the global container and packaging market during the forecast period.
The paperboard segment is estimated to witness significant growth during the forecast period. The usage of paperboard materials for various packaging applications comprises the paperboard segment of the global container and packaging market. Paperboard is a sturdy, lightweight, and adaptable material made from thick paper, which makes it perfect for packaging different types of products.
Get a glance at the market contribution of various segments View the PDF Sample
The paperboard segment was the largest segment and was valued at USD 302.51 billion in 2018. The paperboard segment in the global container and packaging market is geographically dispersed across a number of geographic regions, including North America, Europe, the Asia-Pacific (APAC), Latin America, and the Middle East and Africa (MEA). As a result of the rapidly expanding e-commerce sector and rising consumer expenditure on packaged products, the Asia-Pacific will be the region with the greatest market share in the paperboard packaging segment. Due to the existence of a mature packaging industry and the rising demand for environment-friendly packaging options, North America and Europe also account for sizeable market shares. Overall, the need for e-commerce packaging solutions and the growing emphasis on sustainable packaging is likely to propel the paperboard segment of the global container and packaging market to witness stable growth during the forecast period.
Based on end-user, the market has been segmented into food and beverage, healthcare, industrial, personal care, and others. The food and beverage segment will account for the largest share of this segment.? The food and beverage segment of the global container and packaging market accounts for a substantial share of the overall market. In food and beverage products, containers and packaging are essential for assuring the security, preservation, and delivery of food and beverages to consumers around the world. Innovative and sustainable packaging solutions are anticipated to play an even bigger role in addressing the packaging needs of the food and beverage segment as the industry continues to grow. Thus, the increased demand for containers and packaging in the food and beverage segment will drive the growth of the global container and packaging market during the forecast period.
For more insights on the market share of various regions Download the PDF Sample now!
APAC is estimated to contribute 44% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. APAC (Asia-Pacific) is an important region in the global container and packaging market. In terms of the consumption and production of containers and packaging, it is one of the largest and fastest-growing regions.
Additionally, the growth of the regional e-commerce industry has been a major driver for the container and packaging market in APAC. As online shopping becomes increasingly popular, there is an increasing demand for packaging materials that guarantee the efficient and safe delivery of goods to customers. Thus, increasing consumer demand and the adoption of sustainable packaging solutions will drive the growth of the container and packaging market in APAC during the forecast period.
The outbreak of the COVID-19 pandemic in 2020 had a significant impact on the container and packaging market in APAC. However, the initiation of mass COVID-19 vaccination programs helped in the reduction of COVID-19 cases. Also, the pandemic hastened the expansion of online shopping and e-commerce. This resulted in a rise in demand for containers and packaging solutions to protect shipped products. The pandemic also increased consumer awareness of how their purchases affect the environment. As a result, there has been a rise in demand for eco-friendly packaging options. Thus, the demand for such types of container and packaging solutions will drive the growth of the regional container and packaging market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Amcor Plc - The company offers container and packaging solutions for food, beverage, healthcare, home, and personal care products.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Ace Packaging, Amcor Plc, Berry Global Inc., BWAY Corp., Container and Packaging Supply Inc., DS Smith Plc, Greif Inc., Hoover Circular Solutions, International Paper Co., Mold Tek Packaging Ltd., Mondi Plc, MY Flexitank Industries Sdn Bhd, Qingdao LAF Packaging Co. Ltd., Jiangsu Rongtai Glass Products Co. Ltd., Sealed Air Corp., Teijin Ltd., The Packaging Co., WestRock Co., Winpak Ltd., and Buscherhoff Packaging Solutions GmbH
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report encompasses the entire market adoption cycle, ranging from the initial innovator phase to the subsequent laggard stage. It emphasizes adoption rates across various regions, determined by penetration levels. Additionally, the report outlines essential purchasing factors and factors influencing price sensitivity. This aids companies in assessing and formulating effective growth strategies.
Global Container and Packaging Market Customer Landscape
The container and packaging market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
|
Container And Packaging Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
172 |
|
Base year |
2023 |
|
Historic period |
2018-2022 |
|
Forecast period |
2024-2028 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 8.55% |
|
Market Growth 2024-2028 |
USD 591.62 billion |
|
Market structure |
Fragmented |
|
YoY growth 2023-2024(%) |
7.51 |
|
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
|
Performing market contribution |
APAC at 44% |
|
Key countries |
US, Canada, China, India, and UK |
|
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
Ace Packaging, Amcor Plc, Berry Global Inc., BWAY Corp., Container and Packaging Supply Inc., DS Smith Plc, Greif Inc., Hoover Circular Solutions, International Paper Co., Mold Tek Packaging Ltd., Mondi Plc, MY Flexitank Industries Sdn Bhd, Qingdao LAF Packaging Co. Ltd., Jiangsu Rongtai Glass Products Co. Ltd., Sealed Air Corp., Teijin Ltd., The Packaging Co., WestRock Co., Winpak Ltd., and Buscherhoff Packaging Solutions GmbH |
|
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, 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. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
Certified ISO 9001 : 2015
We are ISO 9001:2015 recognized that ensures quality services and product delivery to our clients.
We are GDPR and CCPA compliant! Your transaction & personal information is protected from unauthorized use.
Get lifetime access to our
Technavio Insights
Get the report (PDF) sent to your email within minutes.
