The global packaging inserts market is expected to be valued at around USD 2,352.5 million in 2023. According to FMI predictions, the overall market is going to register Y-o-Y growth of 4.6% from 2023 to 2033. Packaging inserts sales are projected to increase at a healthy CAGR and top a valuation of USD 3,688.5 million by 2033.
This market held around 7% to 9% of the global protective packaging market worth USD 27 billion in 2021. Plastic packaging inserts are flexible and durable. Plastics, commonly known as polyethylene, are high-density polymers used in packaging inserts that provide excellent strength and water resistance against damage to minimize product damage.
| Attribute | Details |
|---|---|
| Global Packaging Inserts Market Valuation in 2022 | USD 2,249.1 million |
| Estimated Global Market Share in 2023 | USD 2,352.5 million |
| Forecasted Global Market Size by 2033 | USD 3,688.5 million |
| Projected Global Market Growth Rate from 2023 to 2033 | 4.6% CAGR |
| Market Share of Top 3 Countries in the Year 2022 | 34% |
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Packaging inserts function as a cushion for packaged products. They are generally made up of paper and foam inserts perforated with various patterns mainly used to protect the product in transit. Demand for packaging inserts grew at a CAGR of 3.6% from 2018 to 2022.
Industrialists are increasing their production capabilities to cater to rising demand. Demand for inserts in the voluminous industries such as food & beverages, automotive and cosmetics, etc., is consistently growing. Considering various regions, sales of packaging inserts are expected to increase at a CAGR of 4.6% over the forecast period.
Producers are developing acceptable materials and paper that are both ecological-friendly and long-lasting, resulting in a low carbon footprint and a low negative impact on the environment.
High Demand for Appealing Packaging Solutions to Boost Sales of Packaging Inserts
Unpacking items with attractive inserts enhance brand loyalty. Packaging inserts add value to the goods packed in the case. Decorative trays and foam sheets for branded products enhance the company's brand image.
The package insert contains many things such as personalized notes, product offers, discounts and coupons, gifts, and much more. Getting more products increases customer satisfaction. As a result, demand for packaging inserts is expected to grow at a considerable rate worldwide in the forthcoming years.
Increasing Utilization of Electrical & Electronics is Spurring Demand for Packaging Inserts
Electronic products are handled with the utmost care during packaging and transportation, as small objects can damage device parts. In general, all electronic products are packed with inserts to prevent accidents that occur during transit. In addition to this, the increasing adoption of the Internet of Things (IoT) and Artificial Intelligence (AI) in the electrical and electronic sector with advanced packaging might support growth.
Each electronic product is packed with packing inserts to protect and maintain the quality of the product until it is consumed. Germany's electrical and digital industry reports that total exports of electronic products to the world in the year 2021 were around USD 237 billion. Germany exported around USD 80 billion to emerging markets in 2021 and also USD 150 billion to developed countries such as the United States and the United Kingdom.
Principal Consultant
| Regional Market Comparison | Global Market Share in Percentage |
|---|---|
| North America | 21.4% |
| Europe | 25.5% |
High Demand for Packaging Inserts in the Food & Beverage Sector might Fuel Growth
In 2021, the food service and grocery retail industries shipped nearly USD 2.12 trillion worth of food in the United States market, of which USD 1.17 trillion came from the food service industry, according to facts released by the US Department of Agriculture.
Dining options include restaurants, fast food restaurants, catering, food preparation, and sales, and several cafeterias for the general public. In 2021, the proportion of meals at home was about 45% and the proportion of eating out was 55%. Also, increasing the application of packaging inserts in the food service sector in the United States is going to augment growth.
| Regional Market Comparison | Global Market Share in Percentage |
|---|---|
| The United States | 18.2% |
| Germany | 5.2% |
| Japan | 6.4% |
| Australia | 1.9% |
Increasing Preference for Custom Box Inserts in India is Estimated to Boost Sales
As per the insights presented by Invest India, India is forecasted to be the world’s third-biggest automobile market in terms of volume by 2033. India currently manufactures 22.9 million vehicles out of which 5.6 million were exported across the globe in 2022.
The electronic vehicle market is anticipated to expand at a CAGR of 49% between 2023 and 2033 and is expected to hit 10 million units of annual sales by 2033. The automobile industry has around a 7% share of India’s GDP and a 5% share of the global automobile market.
Spare parts packaging is treated with special care during shipping, as even small particles can be damaged. Replacement parts are usually made of stainless steel and should be protected from stretch and scratches. According to the survey, India’s packaging insert market is projected to expand 1.8 times in the forthcoming years, accounting for about 8% of the total market share during the forecast period.
| Regional Markets | CAGR (2023 to 2033) |
|---|---|
| The United Kingdom | 2.3% |
| China | 5.2% |
| India | 6.1% |
Demand for Tray Packaging Inserts to Remain High
Based on product type, the tray packaging inserts segment is estimated to hold around 44% of the total market share contributing to its increased use are its flexibility and resistance to water, and cost-effectiveness.
Tray packaging inserts are also widely used since they are waterproof, lightweight, and offer maximum packaging density and flexibility. These factors are expected to fuel demand for tray packaging inserts by 1.6X. During the forecast period, sales in the tray inserts segment are predicted to expand at a CAGR of 4.5%.
| Category | By Product Type |
|---|---|
| Top Segment | Trays |
| Market Share in Percentage | 44% |
| Category | By End Use Industry |
|---|---|
| Top Segment | Food & Beverages |
| Market Share in Percentage | 25.3% |
The Adoption of Packaging Inserts in the Food and Beverage Sector is Likely to Increase
By 2033, the food and beverage sector is estimated to account for a significant market share of 27%. The latest packaging trend in the food and beverage sector is inserted, which offers benefits such as protection, cost-effectiveness, communication, and eco-friendly packaging. This is expected to continue to increase in retail packaging inserts.
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Key players operating in the global market use a variety of marketing techniques, including mergers & acquisitions, expansions, collaborations, and partnerships.
Leading organizations also use new product creation as a strategic way to expand their market presence among customers. Advanced packaging inserts have been incorporated as a result of these tactics.
Recent Developments in the Market:
| Attribute | Details |
|---|---|
| Estimated Market Size (2023) | USD 2,352.5 million |
| Projected Market Valuation (2033) | USD 3,688.5 million |
| Value-based CAGR (2023 to 2033) | CAGR of 4.6% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD million, Volume in Units, and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segment Covered | Product Type, Material, End Use Industry, Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; The Middle East and Africa (MEA) |
| Key Countries Profiled | The United States, Canada, Brazil, Mexico, Germany, Italy, France, The United Kingdom, Spain, Russia, China, Japan, India, GCC Countries, Australia |
| Key Companies Profiled | Mondi Group; DS Smith Plc; Cascades Inc.; Innerpak Inc.; Smurfit Kappa Group; Dynamic Packaging, LLC; AMERICAN BOX COMPANY; VisiPak; Index Packaging, Inc.; Barco Sales and Manufacturing, Inc.; UFP Technologies, Inc.; Polyformes Limited; Synergy Packaging; VICTORY FOAM; Tucson Container; Engineered Components & Packaging; American Foam Products; Enterprise Europe Network; GPProducts LLP |
The global packaging inserts market is to expand at 4.6% during the forecast period.
The global market is predicted to be valued at USD 3,688.5 million by 2033.
The global market was valued at USD 2,249.1 million in 2022.
The United States accounts for nearly 18.2% revenue share of the global market.
India is predicted to witness a CAGR of 6.1% in sales of packaging inserts through 2033.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Trays 5.2. End Caps 5.3. Sheets 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material 6.1. Paper & Paperboard 6.2. Plastic 6.3. Foam 6.4. Molded fiber 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use Industry 7.1. Food & Beverages 7.2. Electrical & Electronics 7.3. Automotive 7.4. Healthcare 7.5. Industrial 7.6. Cosmetics 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Mondi Group 18.2. DS Smith Plc 18.3. Cascades Inc. 18.4. Innerpak Inc. 18.5. Smurfit Kappa Group 18.6. Dynamic Packaging, LLC 18.7. Brimar Packaging USA 18.8. AMERICAN BOX COMPANY 18.9. VisiPak 18.10. Index Packaging, Inc. 18.11. Barco Sales and Manufacturing, Inc. 18.12. UFP Technologies, Inc. 18.13. Polyformes Limited 18.14. Synergy Packaging 18.15. VICTORY FOAM 18.16. Tucson Container 18.17. Engineered Components & Packaging 18.18. American Foam Products 18.19. Enterprise Europe Network 18.20. GPProducts LLP 19. Assumptions & Acronyms Used 20. Research Methodology
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Packaging Inserts Market
