Global Packaging Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Global Packaging Market is Segmented by Packaging Material (Plastic, Paper and Paperboard, Glass, Metal), Packaging Type (Flexible Packaging (Pouches, Bags, Packaging Films), Rigid Packaging (Bottles and Jars, Corrugated Boxes and Folding Cartons, Metal Cans, Drums, Bulk Containers)), End User (Food, Beverage, Beauty and Personal Care, Industrial, Pharmaceutical), and Geography.

Market Snapshot

packaging market report
Study Period: 2020-2027
Base Year: 2021
Fastest Growing Market: Asia-Pacific
Largest Market: Asia-Pacific
CAGR: 3.94 %

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Market Overview

The global packaging market was valued at USD 1,002.48 billion in 2021. It is expected to reach USD 1,275.06 billion by 2027, registering a CAGR of 3.94% during 2022-2027. Contactless delivery has also become a new trend during the COVID-19. Sustainable packaging pioneers were able to adapt to these new criteria, including Garçon Wines, which has seen an unprecedented demand for its contactless supply of climate and letterbox-friendly flat wine bottles. Also, due to COVID-19, European Union applied a significant tax to single-use containers. There has also been legislation introduced in the United States to go down the same path. With COVID-19 still a significant concern, safety perception will drive consumer habits making it imperative for those single-serve products to be packaged in eco-friendly, recyclable, compostable, or biodegradable packaging.

  • The global packaging business has experienced consistent growth over the last decade due to substrate choice changes, expansion of new markets, and changing ownership dynamics. Sustainability and environmental issues may continue to be emphasized, particularly in developed regions, and various innovations catering to paper and plastic packaging are witnessing in the market.
  • Consumption of non-recyclable plastic packaging is on the rise. This may result in a greater need for more easily recyclable and sustainable packaging materials, such as paper and board, recycled PET (rPET), and bioplastics, as well as a decrease in secondary packaging.
  • Traditional packaging may continue to be replaced by flexible packaging. High-barrier films and stand-up retort pouches may challenge rigid pack formats like metal tins and glass jars for a wide range of food products. Microwavable ready meals, more portable packaging, packaging for on-the-go consumption, and convenience features such as easy-open and reseal components may all respond to consumer desire for convenience in food.
  • According to data from a Harris Poll commissioned by the Flexible Packaging Association, 83% of all brand owners use flexible packaging in some form. Polyethene is mainly used for plastic film packaging. It is a semi-crystalline, lightweight thermoplastic resin with strong chemical resistance, low moisture absorption, and sound insulating qualities.
  • According to the Flexible Packaging Association, flexible packaging is mainly used for food, which accounts for more than 60% of the total market. Because it could incorporate new solutions for the many packaging issues it faces, the flexible packaging industry is experiencing robust growth. In addition, the Indian food and grocery market is the world's sixth-largest, according to IBEF, with retail accounting for 70% of sales. The Indian food processing industry, which contributes to 32% of the country's overall food market and ranks fifth in production, consumption, export, and expected growth, is one of the country's most important industries. ​
  • Many companies focus on product innovations to hold a significant position in the studied market. For instance, in February 2021, Constantia Flexibles announced its new product, Perpetua, a recyclable, high-barrier, polymeric mono-material packaging solution for pharmaceutical products. According to the company, the solution has a wide range of pharmaceutical packaging applications and is now available worldwide.

Scope of the Report

Packaging means the wrapping or bottling of products to make them safe from damage during transportation and storage. It keeps a product safe and marketable and helps identify, describe, and promote the product. The market is segmented as follows:

By Packaging Material
Plastic
Paper and Paperboard
Glass
Metal
By Packaging Type
Flexible Packaging
By Product Type
Pouches
Bags
Packaging Films
Other Product Types
Rigid Packaging
By Product Type
Bottles and Jars
Corrugated Boxes and Folding Cartons
Metal Cans
Drums
Bulk Containers
Other Products
By End User
Food
Beverage
Beauty and Personal Care
Industrial
Pharmaceutical
Other End Users
By Geography
North America
North America
Canada
Europe​
United Kingdom​
Germany​
France​
Italy
Rest of Europe​
Asia-Pacific​
China​
India​
Japan​
Rest of Asia-Pacific​
Latin America
Middle East & Africa​

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Key Market Trends

Paper and Paperboard Packaging Products to Witness the Highest Growth

  • Paper packaging products, such as paper bags, pouches, and cartons, are the fastest-growing sustainable packaging materials.​ The increasing trend of online retail and environmental regulations on non-biodegradable and non-recyclable packaging solutions is progressively creating a massive demand for eco-friendly paper packaging solutions.​
  • In February 2021, Coca-Cola tested its first test run on paper bottles from an extra-strong paper shell containing a thin plastic liner. It ran its first test with 2,000 bottles to see how it held up. The company’s goal is to create a 100% recyclable, plastic-free bottle capable of preventing gas from escaping from carbonated drinks.
  • Moreover, companies such as Smarties have rolled out recyclable paper packaging for confectionery products worldwide in the confectionaries category. This would represent a transition of 90% of the Smarties range, as 10% was previously already packed in recyclable paper packaging. Further, Nestlé’s major step toward its ambition is to make all of its packaging paper-based and recyclable or reusable by 2025 and reduce the usage of virgin plastics by one-third in the same period.
  • Companies in the paper packaging market are increasing their focus on sustainable packaging solutions that meet consumer demands. For instance, Huhtamäki Oyj, a Finland-based food packaging specialist, developed the Huhtamäki blue loop, a novel platform where partners can collaborate to brainstorm sustainable paper packaging. The introduction of such innovative platforms is leading to market expansion.
  • Moreover, various vendors are adapting and innovating new packaging with paper packaging material to reduce the environmental impact of packaging and launch various recycling initiatives. For instance, in February 2021, TetraPak announced a new initiative in Jeddah in partnership with the District Model Center of Muhammadiyah in Jeddah. It will collect used carton packages and recycles them to support sustainable consumption practices.
packaging market value

Asia-Pacific to Remain the Biggest Market

  • The Chinese packaging sector is heavily influenced by variables such as rising per capita income, changing social atmosphere, and demographics. As a result of this shift, new packaging materials, processes, and forms are required.
  • Over the projection period, the rise of e-commerce behemoths like Alibaba is expected to fuel the packaging market. For example, Chinese shoppers received approximately 1.9 billion shipments during Alibaba's Double 11 shopping event, which lasted 10 days.
  • Packaging is India's fifth-largest industry and one of the country's fastest-growing sectors. Over the last few years, the packaging industry has been a key driver of technology and innovation in the country, contributing value to various manufacturing sectors, including agriculture and the fast-moving consumer goods (FMCG) segments.
  • According to the Indian Institute of Packaging (IIP), packaging consumption in India has surged by 200% over the last decade, from 4.3 kilograms per person per annum (pppa) in FY10 to 8.6 kg pppa in FY20. Despite the sharp increase over the last decade, there remains tremendous space for growth in this industry compared to other developed regions throughout the world.
  • Japan is a major user of paper-based products in various industries, including newspaper, packaging, printing and communication, sanitary products, and other miscellaneous uses. Due to consumer awareness about sustainable packaging, worries about deforestation, and raw material availability, there has been a recent movement in the packaging sector to utilize paper.
packaging market overview

Competitive Landscape

The significant factors governing this market are sustainable competitive advantages through innovation, levels of market penetration, barriers to exit, levels of advertising expense power of competitive strategy, and firm concentration ratio. The players in this market possess a competitive advantage through innovation. The specification of the packaging material is different, mostly in plastic packaging, leaving a high possibility of product differentiation.

  • September 2021 - Constantia Flexibles achieved up to 80% recycled content in a PE film using EcoLam laminates’ waste in an industrial recycling trial of EcoLam laminates. Further examinations showed that the type of adhesive and the type of printing inks used have a significant influence on the quality of recyclable material. Further investigation is underway to determine whether printed laminates can also be reused in food applications with suitable adhesives and inks.
  • August 2021 - Huhtamaki signed an agreement to acquire Elif, a leading supplier of flexible packaging, for EUR 421 million. With this acquisition, Hutamaki hopes to strengthen its position as a leading flexible packaging company in emerging markets and strengthen its existing flexible packaging business in the consumer goods category while advancing its sustainability goals.

Recent Developments

  • January 2022 - Amcor launched AmFiber, a new platform for paper-based packaging products. AmFiber's innovations aim to improve the capabilities of traditional paper packaging and provide a broader range of features and functional benefits to meet the changing needs of consumers. The launch of the first AmFiber product in 2022 is intended to be a solution tuned to provide European snack and confectionery customers with a recyclable package that provides a high barrier to oxygen and moisture.
  • October 2021 - Coveris worked with poultry producer Moy Park, one of Europe's poultry producers, to launch a new recyclable stand-up pouch for Tesco ready-to-eat chicken. This partnership is planned to enable a shift from a rigid tray format with mixed lidding film into a recyclable mono-laminate pouch.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET INSIGHTS

    1. 4.1 Market Overview

    2. 4.2 Industry Value Chain Analysis

    3. 4.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.3.1 Bargaining Power of Suppliers

      2. 4.3.2 Bargaining Power of Buyers

      3. 4.3.3 Threat of New Entrants

      4. 4.3.4 Threat of Substitutes

      5. 4.3.5 Intensity of Competitive Rivalry

    4. 4.4 High-level Coverage of Market Drivers (Mapped Based on Impact over the Next Five Years)

    5. 4.5 High-level Coverage of Market Challenges (Mapped Based on Impact over the Next Five Years)

    6. 4.6 Assessment of the Impact of COVID-19 on the Packaging Industry (Key Themes Covered Include Growing Demand for Single-use Packaging, Trends and Advancements by End-user and Region)

    7. 4.7 Coverage of Per Capita Packaging Consumption in Major Countries Across the World

    8. 4.8 Market Opportunities

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Packaging Material

      1. 5.1.1 Plastic

      2. 5.1.2 Paper and Paperboard

      3. 5.1.3 Glass

      4. 5.1.4 Metal

    2. 5.2 By Packaging Type

      1. 5.2.1 Flexible Packaging

        1. 5.2.1.1 By Product Type

          1. 5.2.1.1.1 Pouches

          2. 5.2.1.1.2 Bags

          3. 5.2.1.1.3 Packaging Films

          4. 5.2.1.1.4 Other Product Types

      2. 5.2.2 Rigid Packaging

        1. 5.2.2.1 By Product Type

          1. 5.2.2.1.1 Bottles and Jars

          2. 5.2.2.1.2 Corrugated Boxes and Folding Cartons

          3. 5.2.2.1.3 Metal Cans

          4. 5.2.2.1.4 Drums

          5. 5.2.2.1.5 Bulk Containers

          6. 5.2.2.1.6 Other Products

    3. 5.3 By End User

      1. 5.3.1 Food

      2. 5.3.2 Beverage

      3. 5.3.3 Beauty and Personal Care

      4. 5.3.4 Industrial

      5. 5.3.5 Pharmaceutical

      6. 5.3.6 Other End Users

    4. 5.4 By Geography

      1. 5.4.1 North America

        1. 5.4.1.1 North America

        2. 5.4.1.2 Canada

      2. 5.4.2 Europe​

        1. 5.4.2.1 United Kingdom​

        2. 5.4.2.2 Germany​

        3. 5.4.2.3 France​

        4. 5.4.2.4 Italy

        5. 5.4.2.5 Rest of Europe​

      3. 5.4.3 Asia-Pacific​

        1. 5.4.3.1 China​

        2. 5.4.3.2 India​

        3. 5.4.3.3 Japan​

        4. 5.4.3.4 Rest of Asia-Pacific​

      4. 5.4.4 Latin America

      5. 5.4.5 Middle East & Africa​

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles*

      1. 6.1.1 Amcor Limited

      2. 6.1.2 Constantia Flexibles (Wendel Group)

      3. 6.1.3 Coveris Holdings

      4. 6.1.4 Huhtamaki

      5. 6.1.5 Polyplex Corporation

      6. 6.1.6 Sonoco Group

      7. 6.1.7 Mondi Group

      8. 6.1.8 Berry Global Inc.

      9. 6.1.9 International Paper Company

      10. 6.1.10 Silgan Holdings Inc.

      11. 6.1.11 Gerresheimer AG

      12. 6.1.12 InnoPack Industry Co. Ltd

  7. 7. COMPETITIVE BENCHMARKING - MARKET SHARE ANALYSIS OF GLOBAL FLEXIBLE PACKAGING VENDORS

  8. 8. MARKET OUTLOOK

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Frequently Asked Questions

The Packaging Market market is studied from 2020 - 2027.

The Packaging Market is growing at a CAGR of 3.94% over the next 5 years.

Asia-Pacific is growing at the highest CAGR over 2021- 2026.

Asia-Pacific holds highest share in 2021.

Huhtamäki Oyj, Amcor PLC, Mondi PLC, Berry Global Inc, Gerresheimer AG are the major companies operating in Packaging Market.

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