New York, NY, July 27, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “FMCG Packaging Market by End-Products (Laminate Pouch, Zipper Pouch, Stand Pouch, Cling Film, BOPP Bags, Printing Bags, and Extrusion Laminates), by Raw Material (Aluminum, LDPE Coated, Uncoated Paperboard, Polyethylene Terephthalate (PET), and High-Density Polyethylene (HDPE)), and by End-User Application (Food, Health Care, Personal Care, Anti-Aging And Beauty Products, OTC Products, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2024”. According to the report, global FMCG packaging market was valued at approximately USD 492.80 billion in 2017 and is expected to generate revenue of around USD 657.27 billion by the end of 2024, growing at a CAGR of around 4.2% between 2018 and 2024.
With growing technological up gradations and rising consumer demand for FMCG goods, the FMCG products are entering into the market. The customer's demand is changing gradually; this provides manufacturers with opportunities to innovate their existing product to make their products more innovative and come up with new product packaging which portrays information. It also facilitates consumer’s purchase decision because it contains the basic ingredients and nutritional information, which helps the potential consumers to obtain maximum information. Packaging plays a crucial and important role in developing the brand image of a company and also distinguishes the product information that the company is selling in the market. Hence, the concern for the need for product differentiation in packaging is boosting the growth of the FMCG packaging market.
Browse through 72 Tables & 30 Figures spread over 110 Pages and in-depth TOC on "Global FMCG Packaging Market: Size, Trends, Industry Share, Trends and Forecast, 2017 - 2024”.
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Rising income level of the middle class followed by their purchasing power expenditure, and also the increasing population among the developing nations are a few elements boosting the FMCG packaging market. The rising consumption of products also contributes to the FMCG packaging market growth. A critical change in customer lifestyle and the accessibility of an extensive variety of FMCG products are driving the market development. Packaging, branding, and other aspects at a broad scale, when contrasted with the basic promotional tools and techniques play an important role in marketing the products. Nowadays, the customer focuses on premium packaging owing to the eco-friendliness, sustainability, and numerous different parameters. Effective usage of packaging of FMCG product for promotion and branding purpose by the producers among the buyers is also responsible for the growth of the FMCG packaging. On the basis of end products, the FMCG packaging market is segmented into zipper pouch, laminate pouch, cling film, stand pouch printing bags, extrusion laminates, and BOPP bags. Stand pouch segment held major revenue share in 2017. The growth is attributed because these products help in reducing the packaging weight, waste volume, and storage space. Stand pouches are durable as compared to the traditional packaging items. Because of this, they are widely branded for providing utmost safety.
Based on end-user application, FMCG packaging market has been segmented food, OTC products, personal care, anti-aging and beauty products, healthcare, and others. Healthcare segment is expected to contribute significant revenue share in 2017. A medicine packaging material from the healthcare industry generally meets the criteria of product protection, quality, tamper evidence, patient comfort, and security needs. However, new therapies and innovations in the healthcare industry are increasing the demand for the product which, in turn, is demanding high-quality packaging.
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Based on raw material, the FMCG packaging market has been segmented into aluminum, LDPE coated, uncoated paperboard, polyethylene terephthalate (PET), and high-density polyethylene (HDPE). The aluminum segment contributed a significant revenue share in 2017. The increasing acceptance of aluminum among consumer as versatile packing solutions which preserves both taste and freshness is the major driving factor which will increase demand for the product.
Europe held a substantial revenue share in 2017 in the global FMCG packaging market. According to PCI Films Consulting, Population Reference Bureau, and Flexible Packaging Association, Europe accounts for 21.2% of market share in the FMCG packaging industry worldwide. This is because of the retail outlet growth across the region followed by an increasing number of brands available in the market. As a result, differentiating products from one another is becoming an important task for the consumers nowadays. Hence, packaging in collaboration with marketing campaigns has become a crucial tool which is used by the manufacturers to sell their brand.
Browse the full "FMCG Packaging Market by End-Products (Laminate Pouch, Zipper Pouch, Stand Pouch, Cling Film, BOPP Bags, Printing Bags, and Extrusion Laminates), by Raw Material (Aluminum, LDPE Coated, Uncoated Paperboard, Polyethylene Terephthalate (PET), and High-Density Polyethylene (HDPE)), and by End-User Application (Food, Health Care, Personal Care, Anti-Aging And Beauty Products, OTC Products, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2024" report at https://www.zionmarketresearch.com/report/fmcg-packaging-market
The Asia Pacific is expected to rule the market due to demographics, rising standard of people, and stable financial states of the countries. The GDP of developing nations is growing. Therefore, organizations keep on expanding their worldwide impression in the Asia Pacific region so as to pick up a focused edge in the market. Various organizations in the region lean toward item development by propelling or tweaking their current product portfolios with the goal that they can cater to new buyer fragments or client base. The developing markets and their country population in the region will also play an important role in the market. In India, more than 33% of the Indian customer base is present in provincial territories, as a result, the country market is going to be key development driver for FMCG organizations as they intend to grow their residential business.
North America FMCG packaging market represents a significant development rate amid the forecasting period. The development is credited to the lifestyle-related changes combined with the advancement of product packaging techniques in the geographic region. Ready retail packaging (RRP) is getting popular in the North America region as various retailers consider its execution and others grow their endeavors in the zone. This is because of an expanded execution and implementation of RRP all over FMCG category products. RRP gives an alluring structure to the commercial business and showcases an item by eliminating task costs as the transportation item bundle itself arrives fundamentally for coordinate utilization. As indicated by Packaging World, 57% of retail suppliers in North America expressed that they received an increasing number of solicitations for RRP over the recent years from their retail clients. So this trend is boosting the North America FMCG packaging market.
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Latin America and the Middle East & Africa accounted for relevant growth rate during the forecast time period. The growth is basically due to the increased usage of FMCG products. This is convenient for middle-class families and consumers, who prefer maintaining and storing stock of certain products. On the other hand, retailers and product manufacturers attract consumers with multipacks of various products by offering these multipack items for the economical price. This factor is boosting the growth of the market.
Some of the industry players operating in the FMCG packaging market include Albea, Ardagh Group, Bemis Company Inc., Berry Plastics Corporation, Ball Corporation, Amcor Ltd., Reynolds Group Holdings, Aptar Group, DS Smith Plc, CCL Industries Inc., Graham Packaging, and Toyo Seikan Kaisha Ltd. Some other participants include Crown Holdings Inc., MeadWestvaco Corporation, Tetra Pak International, Silgan Holdings, and Owens-Illinois Inc.
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This report segments the global FMCG packaging market as follows:
Global FMCG Packaging Market: End Products Segment Analysis
- Laminate pouch
- Zipper pouch
- Stand pouch
- Cling film
- BOPP bags
- Printing bags
- Extrusion laminates
Global FMCG Packaging Market: Raw Materials Segment Analysis
- Aluminum
- LDPE Coated
- Uncoated Paperboard
- Polyethylene Terephthalate (PET)
- High-Density Polyethylene (HDPE)
Global FMCG Packaging Market: End User Application Segment Analysis
- Food
- Health Care
- Personal Care
- Anti-Aging And Beauty Products
- OTC Products
- Others
Global FMCG Packaging Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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