Consumer Packaging Market Share Expected to Expand at a 5.9% CAGR from 2024 to 2030

The Consumer Packaging Market Share is expected to grow from USD 259.45 billion in 2023 to USD 387.55 billion by 2030, at a compound annual growth rate (CAGR) of 5.9%. This growth is primarily attributed to the increasing demand for packaged goods from several end-use industries due to the e-commerce boom, rising focus on sustainable practices, and growing preference for biodegradable and sustainable packaging materials.



Drivers & Opportunities for the Growth of Market

The growth of e-commerce is a key aspect which drives the growth of consumer packaging market.People are engaged in online shopping and the packaging solutions are necessary for the safe and effective delivery of the goods. According to the type, component consumption of strong packaging solution monopolizes traction in the end user section, driven by stabilized status, especially in the case of corrugated packaging. Now consumers are becoming more aware of their impacts on the environment, brands are focusing on virgin bioplastics and recyclable packaging.

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Segmentation Analysis

The consumer packaging market is divided on the basis of type, end-user, and region.

by Type segment, Paper packaging dominates this segment owing to high utilization in food packaging, medical packaging, and e-commerce packages. The corrugated board packaging sector has been expanding rapidly owing to its significant biodegradability and is further driving the growth of the corrugated board packaging market in e-commerce and retail sector. Demand for plastic rigid packaging is growing in the industrial and also in the food packaging sector.

Through End-user: Food and beverage industry remains the maximum consumer of packaging solutions due to the requirement of tremendous packaging for protecting the product. This is further fueled by the requirement of safe and practical packaging in the pharmaceutical and personal care industries which contribute majorly towards the industry growth.

Regional Market Overview

North America: North America will continue to be an important consumer packaging region largely due to the U.S. There is a high demand for sustainable packaging solutions across the region since they are increasingly adopting recycled and bio-degradable packaging materials. A surge in e-commerce in North America also drives the sales of strong and easy-to-use packaging.

Europe: The continent is going through rapid growth in the consumer packaging market along with sustainability initiatives. The stringent EU regulations regarding plastic packaging & waste management have driven the demand for sustainable packaging alternatives in the food & beverage and personal care industries. There is also increasing preference for premium and luxury packaging solutions in the region.

Asia-Pacific: The workable packings market is anticipated to extend at the quickest rate in Asia-Pacific, determined by a quickly extending middle association class, urbanization, and flood in throw-awy salary among individuals in the area. With countries such as China and India expected to continue to see consumer demand for packaged goods, the market for efficient and cost-effective packaging is only set to accelerate.

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Competitor Analysis

The following companies are important shareholders in consumer packaging market:

Amcor — Known for being one of the largest packaging companies in the world, Amcor provides sustainable packaging solutions to various industries, from food to beverage to personal care. In time with rising consumer needs for environmentally friendly products, the product company has came up with recyclable and biodegradable packaging options.

Sealed Air Corp: A packaging pioneer, Sealed Air specializes in e-commerce and retail protective packaging materials. Sustainability is a huge focus for the company, as at the moment it is working to reduce plastic waste as well as the quantities of virgin material it uses.

Berry Global, Inc.– Another of the larger-essentially said players in consumer packaging, conveying a wide range of plastic packaging for one or the other single use or open use. Among those initiatives is a focus on sustainably sourced recyclable and post-consumer recycled (PCR) content packaging materials.

Founded in 1951 by the Swedish engineer Ruben Rausing, Tetra Pak is the world’s leading food processing and packaging solutions company. It has been descending in the market due to innovations in carton packaging and trying to make the products sustainable.

Ball Corporation: Founded in 1880, Ball Corporation is a global leader in metal packaging for beverage, food, and personal care products, and other specialty packaging products. This company aims to minimize the carbon imprint and maximize the content of recycled materials in its packaging solutions.

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Conclusion

Shifting focus towards online shopping by the key players of the sector coupled with supplier led innovations on sustainable packaging will continue to drive the strong growth of consumer packaging market during the forecast period 2020-2026. In this fast-changing world, firms that offer creative, sustainable and cost-effective packaging solutions will be better placed to compete in the market.

Explore More: Visit our website for Additional reports:

Consumer Packaged Goods Packaging Market https://www.maximizemarketresearch.com/market-report/global-consumer-packaged-goods-packaging-market/85843/ 

Green Packaging Market https://www.maximizemarketresearch.com/market-report/green-packaging-market/14413/ 

Custom Packaging Market https://www.maximizemarketresearch.com/market-report/custom-packaging-market/206551/ 

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