Packaging Market Size to Grow by USD 223.96 Billion From 2022 to 2027: A Descriptive Analysis of Customer Landscape, Vendor Assessment, & Market Dynamics

NEW YORK, November 26, 2022 /PRNewswire/ — Technavio markets the global packaging as a component market of metal and glass containers, the parent market. The Metal and Glass Containers market covers the combined revenue of manufacturers/suppliers of Metal, Glass and Plastic Containers and Paper Packaging. In global packaging market increases to a large extent USD 223.96 billion from 2022 to 2027. The market growth rate in a CAGR of 3.92%.

Technavio has announced its latest market research report titled Global Packaging Market 2023-2027

Technavio has announced its latest market research report titled Global Packaging Market 2023-2027

Before purchasing the full report, discover some insights into the market size, request a free sample

Global packaging market Customer view

To help companies evaluate and develop growth strategies, the report shows:

Global packaging market – Vendor analysis

Vendor View – The global packaging market consists of some prominent players involved in the design and manufacture of packaging solutions for various applications across a wide range of industries. These vendors invest in R&D to bring better products to market and expand their customer base.

Some major players are expected to implement several new strategies to gain competitive advantages during the forecast period. Mergers, acquisitions and strategic partnerships are some of the ways that vendors in this market are using to strengthen their position.

Seller’s offer –

  • Ardagh Metal Packaging SA: The company offers packaging services such as beverage cans.

  • Ball Corp.: The company offers packaging services such as Alumi-Tek Glass, Crowler Can and Widget Inside.

  • Berry Global Group Inc.: The company offers packaging services for applicators, vials and vials.

  • CCL Industries Inc.: The company offers packaging services such as high barrier films, easy opening films and high speed films.

  • For details about the seller and its offers – Buy the report!

Global packaging marketSegmentation evaluation

Review of geography

By geography, the global packaging market distributed to APAC, North America, Europeto middle East and Africaand South America. The report offers practical insights and a precise assessment of the contribution of all regions to the growth of the global packaging market.

  • APAC held a 41% stake global packaging market in 2022. The market is estimated to grow at the highest rate in the region during the forecast period. The region is emerging as a major manufacturing center for various industries. The thriving e-commerce industry, increasing trend of online shopping and growing population have increased the demand for various goods through online channels. All these factors are increasing the demand for packaging solutions in the region.

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Segment description

By end user, the global packaging market is segmented to food, beverages, healthcare, personal care and more.

  • Increasing market share food segment will be higher than other segments during the forecast period. This segment is mainly driven by the increasing global demand for canned and packaged products. Changes in lifestyle and food habits due to the influence of western culture are some of the other factors influencing the growth of the segment.

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Global packaging market – Market dynamics

  • Impressive Driver – Growth in food delivery and services is driving the growth of the market. Rapid urbanization combined with the hectic lifestyle of consumers has led to an increasing demand for convenient and on-the-go food. There is also a significant increase in demand for food delivery and services with the growing adoption of smartphones and the growing m-commerce industry. The rise of online food ordering has led to an increase in the number of players offering food delivery services. The growth of food delivery and services has subsequently increased the demand for packaging solutions in the food industry. All these factors are contributing to the growth of the market.

  • Main trend – Innovative market strategies adopted by vendors are the main trend in the market. Vendors in the market are adopting various growth strategies to remain competitive and gain an edge over their competitors. One of the main strategies adopted by marketers is the continuous development of new products. Similarly, some retailers are focusing on strengthening their consumer base by expanding their operations into new markets. Many such strategies adopted by marketers have a positive impact on market growth.

  • The main problem – Environmental problems from the use of plastic packaging are the major problems hindering the growth of the market. Most of the end users in the market prefer disposable plastic bags as they are cheaper and help to maintain a specific temperature for a longer period of time. Most single-use plastic packaging materials used by end-users are made of polystyrene or polypropylene, which do not decompose easily. This leads to the accumulation of large amounts of solid waste. Therefore, many governments have taken various initiatives in this matter by imposing restrictions on the use of plastic. Such measures will reduce the use of plastic packaging, which is expected to impact the growth of the global packaging market.

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Driver, Trend & Challenges are factors of market dynamics that speak about business implications and sustainability, get some insights from our free sample report!

What are the key insights in this Packaging market report?

  • Market CAGR during the forecast period

  • Detailed information on the factors driving the growth of the packaging market between 2023 and 2027

  • An accurate estimate of the size of the packaging market and its contribution to the parent market

  • Accurate predictions about upcoming trends and changes in consumer behavior

  • The growth of the packaging market industry in APAC, North America, Europe, middle East and Africaand South America

  • Comprehensive analysis of the competitive landscape of the market and detailed information on vendors

  • Comprehensive analysis of factors inhibiting the growth of packaging market vendors

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  • In mushroom packaging market Its share is expected to increase to 111.64 million units from 2021 to 2026, and the market growth rate will accelerate at a CAGR of 14.06%. Government initiatives supporting eco-friendly packaging are one of the major factors supporting the growth of the mushroom packaging market.

  • In market for perforated packaging film its share is expected to increase $665.78 million from 2021 to 2026, with a CAGR of 5.1%. Growing European imports of frozen products, especially the perforated film packaging market, will drive growth, although factors such as volatility in raw material prices may hinder market growth.

Scope of the packaging market

Report coverage

Details

Page number

186

Main year

2022

Historical year

2017-2021

Expected period

2023-2027

Growth momentum and CAGR

Accelerate with a CAGR of 3.92%

Market development 2023-2027

223.96 billion dollars

Market structure

Scattered

Annual Growth (%)

3.72

Regional analysis

APAC, North America, Europe, Middle East and Africa and South America

Market share performance

APAC at 41%

Main consumer countries

USA, Canada, China, India and UK

Competitive landscape

Leading Companies, Competitive Strategies, Scope of Consumer Engagement

Key companies are shown

Amcor Plc, AptarGroup Inc., Ardagh Metal Packaging SA, Ball Corp., Berry Global Group Inc., CCL Industries Inc., CKS Packaging Inc., Crown Holdings Inc., DS Smith Plc, DuPont de Nemours Inc., Genpak LLC, Gerresheimer AG, Graphic Packaging Holding Co., Mondi plc and Packaging Corp. of America.

Market dynamics

Parent market analysis, Inducers and barriers to market growth, Fast growing and slow growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics and market status analysis during the forecast period.

Adaptation task

If our report does not contain the information you are looking for, you can contact our analysts and order segments.

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Contents:

1 Executive summary

2 View of the market

3 Market size

4 Historical market size

5 Five Forces Analysis

6 Market segmentation by end user

7 Market Segmentation by Type

8 Customer landscape

9 Geographical landscape

10 Drivers, challenges and trends

11 View of the seller

12 Vendor Analysis

13 Appendix

About Us

Technavio is a leading global research and consulting company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to improve their market position. With more than 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and calculations covering 800 technologies, covering 50 countries. Their clients include businesses of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s comprehensive coverage, extensive research and practical market insights to identify opportunities in existing and potential markets and assess their competitive position in changing market scenarios.

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Website: www.technavio.com/

Global Packaging Market 2023-2027

Global Packaging Market 2023-2027

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