NEW YORK, United States, June 26, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “FMCG Packaging Market Comprehensive Analysis, Historical Data, and Forecasts 2023 – 2030” in its research database. According to the latest research study, the global FMCG packaging market size was worth at approximately USD 440 billion in 2022. The market is expected to grow above a CAGR of 5.9% and is anticipated to reach over USD 770 billion by 2030.
FMCG Packaging Market Overview:
Fast-moving consumer products, or FMCG, are items that are easily and cheaply sold. Consumables, packaged foods, beverages, over-the-counter medications, and toiletries are a few of the best examples of non-perishable FMCG. Additionally, FMCG packaging aids in maintaining product quality, lengthens shelf life, and assists companies in marketing their goods using environmentally friendly packaging. Consumer goods producers are embracing advanced packaging as they devote significant resources to creating aesthetically appealing packaging designs.
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Key Insights from Primary Research
- As per the analysis, the FMCG packaging market share is likely to grow above a CAGR of around 5.9% between 2023 and 2030.
- The FMCG Packaging market size was worth around US$ 440 billion in 2022 and is estimated to hit approximately US$ 770 billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- The global FMCG packaging market is anticipated to record massive growth over the forecast period owing to smart packaging providing value-added services to the end-users.
- Based on the type, the paper & paperboard segment is predicted to contribute majorly towards the global market share over the forecast timeline.
- Based on application, the beverage segment is slated to dominate the segmental surge over the forecast period.
- Region-wise, the Asia-Pacific Packaging market is projected to register the highest CAGR during the assessment period.
Competitive Players:
The report contains qualitative and quantitative research on the global FMCG packaging market, as well as detailed insights and development strategies employed by the leading competitors.
Some of the main players in the global FMCG packaging market include;
- DS Smith PLC
- Amcor plc
- Albéa Group
- Toyo Seikan Group Holdings Ltd.
- Aptar Group Inc.
- Ball Corporation
- Consol Glass (Pty) Ltd
- Sealed Air Corporation
- Berry Global Inc.
- Crown Holdings Inc.
- Ardagh Group S.A.
- Kimberly-Clark Corporation
- Graham Packaging Company
- Tetra Pak International S.A.
- Mondi Plc
- Huhtamaki Oyj
- Sonoco Products Company
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Market Dynamics:
Growth Drivers
- Rising smart packaging demand will drive global market trends
Smart packaging offers value-added services to consumers, which has a significant positive impact on the trends in the worldwide FMCG packaging market. The expansion of the global market has been steered by the FMCG packaging companies' use of innovative packaging to meet the rising demand for nutrient-dense meals. Using revolutionary packaging technology that releases anti-pathogens to safeguard the FMCG product against germs, viruses, and fungi, Aptar Food introduced sealed packaging for fresh-cut produce in the first half of 2020. Such actions are anticipated to enhance the market's global progress.
Additionally, widespread use of FMCG packaging in the pharmaceutical, personal care, food & beverage, and cosmetics industries will drive the rise of the global market. For the record, PepsiCo and L'Oréal unveiled new packaging & labelling strategies in December 2022 that are probably going to have a positive effect on the growth elements throughout the value chain. Additionally, the major producer of FMCG packaging materials, Silafrica, announced the introduction of foldable export fruit and vegetable boxes in January 2023. For this, Silafrica received the Kenya Avocado Excellence Awards. The global market's potential for growth will be supported by the widespread usage of biodegradable and environmentally friendly raw materials.
Restraints
- Government restrictions on plastics may impede global business growth by 2030
The fast-moving consumer goods packaging industry's global growth is projected to be constrained by the use of plastic in these products' packaging. It is more likely to prevent the global industrial surge in the years to come if there are rigorous restrictions limiting the export and import of FMCG items.
FMCG Packaging Market: Segmentation Analysis
The global FMCG packaging market is sectored into type, application, and region.
In terms of type, the global FMCG packaging market is sectored into paper & paperboard, metal, plastic, and glass segments. The paper & paperboard category, which had over 45% of the global market share in 2022, is expected to maintain its dominance. Paper and paperboard packaging for fast-moving consumer items may drive segmental expansion in the coming years.
On the basis of the application, the global FMCG packaging industry is divided into beverage, household & personal care, and food segments. The beverage category, which dominated the global market in 2022, is expected to dominate the application space over the projected period. Sustainable packaging developments may drive market expansion from 2023 to 2030. In the second half of September 2019, UK packaging supplier Macfarlane Packaging released a biodegradable wine bottle and jar protection solution. The product is recyclable, biodegradable, and plastic-free.
Regional Analysis:
North America, which accounted for more than 65% of the revenue generated by the worldwide FMCG packaging market in 2022, is expected to experience significant increase throughout the forecasted period. The increase in demand for FMCG packaging in the food and beverage industry as well as the rise in demand for convenience meals in nations like Canada and the U.S. may both have an impact on the regional market's expansion between 2023 and 2030. In addition, the future growth of the area market will be influenced by the widespread need for milk, cheese, and yoghurt. According to reports, the United States is the world's largest wine consumer, which will significantly increase the size of the regional market.
Asia-Pacific region is also predicted to have the fastest CAGR for the expected time period in the FMCG packaging sector. The flourishing pharmaceutical and food and beverage industries in nations like India and China are the variables that are predicted to favourably leverage the growth of the regional business. In addition, a notable rise in investments in the food and personal care industries will stimulate regional industry expansion.
Report Scope:
| Report Attribute | Report Details |
| Market Size in 2022 | USD 440 Billion |
| Market Forecast in 2030 | USD 770 Billion |
| Growth Rate | CAGR of 5.9% |
| Base Year | 2022 |
| Forecast Years | 2023- 2030 |
| Key Companies Covered | DS Smith PLC, Amcor plc, Albéa Group, Toyo Seikan Group Holdings Ltd., Aptar Group Inc., Ball Corporation, Consol Glass (Pty) Ltd, Sealed Air Corporation, Berry Global Inc., Crown Holdings Inc., Ardagh Group S.A., Kimberly-Clark Corporation, Graham Packaging Company, Tetra Pak International S.A., Mondi Plc, Huhtamaki Oyj, and Sonoco Products Company |
| Segments Covered | By Type, By Application, and By Region |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Customization Scope | Avail customized purchase options to meet your exact research needs. |
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Recent Industry Developments:
- In the first half of 2020, Ball Corporation, a key provider of sustainable aluminum packaging solutions for beverages, is projected to represent the firm’s aluminum cups in retail stores such as grocery stores, drug stores, food service stores, and mass channel stores in the U.S. The move is likely to leverage the expansion of the FMCG packaging industry in the U.S.
- In the first quarter of 2020, Amcor Company, a key player offering effective packaging solutions, joined hands with Moda Systems, a next-generation vacuum packaging system manufacturer in North America & Latin America. The move is likely to enhance the operational efficiency of the latter and reduce the overall cost savings. The initiative is predicted to enhance the growth of the FMCG packaging business in the Americas.
The global FMCG packaging market is segmented as follows:
By Type
- Paper & Paperboard
- Metal
- Plastic
- Glass
By Application
- Beverage
- Household & Personal Care
- Food
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- GCC
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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Key questions answered in this report:
- What is the market size and growth rate forecast for FMCG Packaging industry?
- What are the main driving factors propelling the FMCG Packaging Market forward?
- What are the leading companies in the FMCG Packaging Industry?
- What segments does the FMCG Packaging Market cover?
- How can I receive a free copy of the FMCG Packaging Market sample report and company profiles?
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