The packaging industry is projected to grow at a considerable CAGR of around 3% during the forecast period (2020-2026). The growth in demand for digital printing packaging, personalized packaging, transparency & clean labels, and flexible packaging are the major promoters of the packaging market across the globe. Flexible packaging involves the use of lightweight bags and pouches sealed with heat.  The continuous innovation and technological advancements have led to the development of lighter weight packaging that enhances product shelf appeal, strength, protection, and the ability to be sealed.  

The high growth in demand for flexible packaging across end-user vertical including cosmetics, home care products, and food among others is propelling the growth of the packaging industry. With the increase in urbanization, trade activities have increased and thus driving the need for packaging across the globe. The increase in the e-commerce industry is further increasing the need for packaging to transfer products from one place to other. The rise in demand for ready to –eat food is promoting the food packaging industry. However, stringent rules and regulations related to the usage of unfavorable packaging material such as plastic that leads to environmental damage may hamper the growth of the packaging industry across the globe.

Segmental Outlook  

The packaging industry is segmented on the basis of material type and end-user vertical. Based on the material type, the packaging industry is segmented into plastic, metal, paper, and glass. Based on material type, plastic is anticipated to hold major market share during the forecast period. Based on end-user vertical, the market is segmented into food, beverage, healthcare, cosmetics & personal care, industrial, and others. Food packaging is anticipated to hold major market share based on end-user vertical. The growing population across the globe along with the high demand ready to eat meal is a key factor contributing towards the high share of the market segment

Food Packaging industry to hold a considerable share 

The food packaging industry is anticipated to hold considerable market share during the forecast period. The growth in population along with the high demand for fresh, packaged, and ready to eat food is a key motivator for the growth of the food packaging industry. The expansion of infrastructure for the recycling of plastics, metals, and glass across the globe is propelling the growth of the food packaging industry.

Global Packaging Industry Share by End-User Industry, 2019 (%)

Regional Outlook 

The global packaging industry is further segmented on the basis of geography including North America, Europe, Asia-Pacific, and the Rest of the World. North America is anticipated to hold a major market share in the global packaging industry during the forecast period. The presence of key players such as Amcor PLC,  DS Smith PLC, US Packaging & Prapping LLC, Owen Illinois Inc., Crown Choldings Inc., and Berry Global Inc. among others in the region is a key factor responsible for the high share of the packaging industry in the region. Apart from this, the significant presence of end-user industries in the region such as that makes intensive use of packaging solutions is propelling the demand of packaging industry food, beverage, healthcare, cosmetics & personal care sector in the region, thereby making a huge contribution towards the high share of the market in the region. 

Global Packaging Industry Growth, by Region 2020-2026

Asia-Pacific will augment with the significant growth rate in the packaging industry

Asia-Pacific is anticipated to hold significant market growth in the global packaging industry. The increasing application of packaging in food & beverages, cosmetic & oral care, home products, and the healthcare industry in the region is a major factor driving the growth of the Indian packaging industry. Major countries of the region such as India, China, and Japan are expected to hold a major share in the market. Apart from these countries, Thailand, South Korea, Australia, and Indonesia are anticipated to make a major contribution to market growth. Rising disposable income levels and growing urbanization across the region are promoting the growth of organized retail which led to the demand for innovative and attractive packaging concepts. 

Market Players Outlook

The key players of the packaging industry include Amcor PLC, Sealed Air Corp., Smurfit Kappa Group PLC, Ball Corp., Tetra Pak International S.A., Berry Global, Inc., Coveris Inc., DS Smith Plc, and so on. The key players of the market are involved in making advancements in packaging technology to make the product more lucrative to lure the customers. Moreover, some players are adopting different growth strategies such as merger & acquisition, and product launches to thrive in the global market.

The Report Covers

• Market value data analysis of 2019 and forecast to 2026.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global packaging industry. Based on the availability of data, information related to the products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.