Dallas, Texas, Nov. 13, 2019 (GLOBE NEWSWIRE) -- The “Global FMCG Packaging Market Size 2018 by Material Type (Paper and Paperboard, Plastic, Metal, Glass, Others), By End-use Industry (Food & Beverages, Cosmetic & Personal Care, Others), By Region and Forecast 2018 to 2025” study provides an elaborative view of historic, present and forecasted market estimates.
The global FMCG packaging market is estimated to grow at CAGR of 3.2% during the forecast period, in terms of volume. The growing middle-class population in developing countries, their evolving lifestyles and technological advances in developing eco-friendly packaging products are expected to drive the market growth. Additionally, rising standard of living supports the demand for wide-ranging consumer products, which is expected to subsequently enhance the market growth.
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Packaging industry is multidimensional and extremely vibrant. Packaging attracts consumers towards the product, thus market players especially in the FMCG industry concentrate more on efficient, ergonomic, and sustainable packaging. Additionally, the continuous technological upgrades and new trends in the food & beverage, cosmetics, personal care markets and other such industries is directly and comprehensively improving the global FMCG packaging market. Packaging is quite important as the product itself. It is a communication medium between the manufacturers and consumers. Moreover, the technological evolution in packaging industry has broadened the scope for customized packaging.
Packaging industry has maintained to cope up with various market situations. Although, there are many environmental, technological, and traditional issues that hamper the sudden growth of packaging industry, rising technological advancements will render some restraints unnoticed through R&D activities. For instance, stringent government norms for plastic use and manufacturing of plastic packaging combined with outdated technologies restricts the growth to a great extent. However, vacuum packaging and nanotechnology are some of the phenomenal packaging techniques that have emerged recently, which in turn are simultaneously driving the FMCG industry’s growth.
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Europe leads as the major regional market for manufacturing FMCG products. Mostly, busy lifestyles and increased consumer spending are the key factors driving the market growth in this region. Additionally, the growing health consciousness in people and the consumption of various healthy and nutrient-rich ready-to-eat products have gained popularity in this region. The presence of a large number of hotels, restaurants and retail stores has strengthened the demand for seafood, fruits & vegetables, meat, confectionery, and other food products. Moreover, the need for ready-to-eat frozen breakfast products has gained popularity in the recent years and is expected to be one of the fastest growing business segments over the forecast period. The growing demand for international beauty products and unexpected climatic changes have raised the demand for cosmetics and personal care products. These factors are expected to drive the market growth.
Key players in the global FMCG packaging market include Ball Corporation, Amcor Limited, Graham Packaging, Aptar Group, DS Smith Plc, and Sonoco Products. The market is highly fragmented due to the presence of several local players.
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Major points from Table of Contents:
1. Executive Summary
2. Research Methodology
3. Market Outlook
4. FMCG Packaging Market Overview, By Material Type
5. FMCG Packaging Market Overview, By End-use Industry
6. FMCG Packaging Market Overview, By Region
7. Industry Structure
8. Company Profiles Amcor Limited
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