The packaging supply market is anticipated to be valued at USD 263.9 billion in 2024. During the forecast period ranging from 2024 to 2034, a CAGR worth 3.1% is projected for the sector, with an envisioned market valuation of USD 358.1 billion, by 2034.
The e-commerce sector is anticipated to increase demand for packaging materials due to the rise in internet purchases. Leading to innovative packaging methods that are eco-friendly and visually appealing.
The preference for retail shopping and the need for sustainable packaging solutions are estimated to spur the market. Packaging materials are essential for consumers' purchasing and distribution experiences in e-commerce trade.
Packaging Supply Industry Assessment
| Attributes | Key Insights |
|---|---|
| Historical Size, 2023 | USD 256.2 billion |
| Estimated Size, 2024 | USD 263.9 billion |
| Projected Size, 2034 | USD 358.1 billion |
| Value-based CAGR (2024 to 2034) | 3.1% |
The supply for the packaging sector is shifting towards sustainability, focusing on creating a circular economy for product designs, minimizing waste, promoting recyclability, and maximizing product value. The shift is anticipated to accelerate digital transformation, optimize logistics, and alter consumer behaviors.
Despite short-term challenges, the long-term trajectory shows continued e-commerce growth, with online shopping projected to account for the majority of global retail transactions in the projected period.
According to a review of the packaging products industry, global pandemic has had a major effect on several aspects of the industry, including supply chains, distribution routes, and demand backbones.
The packaging supplies market is projected to experience an uprise due to demand from the food and beverage, healthcare, and cosmetics industries, which rely on packaging materials for product safety, preservation, and branding, and government investments in research and development spurring innovation in industry-specific packaging solutions.
Manufacturers are now focusing on creating customized packaging materials to meet specific needs, boosting market adoption. The recovery of the hotel and restaurant industry has increased packaging supply consumption. Packaging is paramount for various sectors, including FMCG, fresh food delivery, and electronics, ensuring product integrity and customer satisfaction.
Technological improvements in the packaging sector are envisioned to increase the adoption of new supplies, such as flexible packaging, high-barrier films, and stand-up retort pouches, which challenge traditional formats like metal tins and glass jars. Digital printing and smart packaging technologies such as RFID tags and QR codes are also anticipated to improve traceability, quality control, and consumer interaction.
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The demand for packaging supplies is predicted to fluctuate at a CAGR based on multiple semi-annual periods from 2024 to 2034 in the following table. The industry is estimated to register a CAGR of 3% in the first half (H1) of the decade from 2023 to 2033, and 3.2% in the second half (H2) of the same decade, thus displaying a steady incline in the demand.
| Particular | Value CAGR |
|---|---|
| H1 | 3% (2023 to 2033) |
| H2 | 3.2% (2023 to 2033) |
| H1 | 3% (2024 to 2034) |
| H2 | 3.3% (2024 to 2034) |
Over the subsequent decade, the growth trajectory of the packaging supply industry is anticipated to fluctuate with the time. It is predicted that in the first half (H1) of the term, the CAGR will decline somewhat from 3.2% to 3% again. After that, an upsurge is envisioned to occur in the second half (H2) at a CAGR of 3.3%.
According to this industry trend, the CAGR is projected to peak by 30 basis points in H2 after developing by 20 basis points in H1. The packaging market survey explains that the latest developments and trends in the packaging supplies market is pushing the companies to adopt new environmentally friendly and bio-degradable packaging solutions.
Focus on Sustainable Practices Sprouts Growth in the Industry
The packaging supplies market is envisioned to be operated by sustainable and eco-friendly packaging. Bioplastics and other recyclable resources or products with fewer carbon emissions are used in these procedures.
Major companies like Tetrapak have put their focus on net zero carbon dioxide emission to create a substantial rise in the procurement of green low toxic, reusing type as well as biodegradable packaging containers.
Manufacturers in the packaging sector are estimated to serve the larger audience of eco-conscious nature. Rising retail sales prompt manufacturers to innovate packaging designs, as visually appealing and innovative options capture consumer attention and increase adoption of advanced packaging solutions.
With the continuous evolution of sustainable practices, the market is poised for further growth, driving innovation and setting new benchmarks in packaging.
Adoption of Biodegradable and Compostable Paper Products Raises the Sales
The popularity of eco-friendly materials including recyclables, biodegradable materials, and low-toxicity materials is envisioned to cause a seismic shift in the packaging. Furthermore, there are likely to be many minimalistic designs and simple layouts. The shift will also lead to the rise of various cardboard products such as boxes, sacks, and other pouches.
Demand for eco-friendly paper packaging is rising due to online retail and environmental laws. Customers as being more ecologically friendly perceive paper packaging, hence businesses are moving towards sustainable choices to satisfy consumer needs and regulatory obligations.
For instance, Mondi unveiled 'TrayWrap,' a supplementary paper packaging option in May 2024 that is intended to replace the traditional shrink film used to bundle food and drink goods.
Concern over the Use of Plastic Supplies Is Likely To Hamper the Demand
The environmental effects of plastic waste produced by the extensive use of supplies for packaging are alarming regulatory authorities throughout the globe, which poses a serious threat to the packaging industry.
Since plastic pollution mostly comes from non-biodegradable plastics, it is a major global problem because of its dependency on fossil fuels, accumulation in landfills, and detrimental impacts on zooplankton. To lessen their environmental footprint and effect, major companies are increasingly pledging to achieve net-zero carbon emissions, sustainable packaging, an emphasis on biodegradable alternatives, and improved recycling systems.
Furthermore, the demand for packaging supplies may be restricted in its growth by the possible interactions of flex pack varnish materials, especially with reactive goods. Manufacturers are anticipated to develop novel improvements in packaging operations such as utilization of sustainable materials. The ban on plastic materials is estimated to plummet the packaging sector in the forthcoming decade.
Packaging Supply Demand Analysis 2019 to 2023 and Forecast 2024 to 2034
The demand for supplies for packaging is projected to register a CAGR of 2.6% between 2019 and 2023, reaching a total of USD 256.2 billion in 2023.
The packaging supplies market is anticipated to witness significant growth due to the rise in e-commerce platforms, coupled with various packaging options and secure shipment packaging, which have fueled demand for packaging supplies. Vendors focus on creating durable and reliable packaging solutions that can withstand different environments, enhancing the end user’s shopping and shipping experience.
Along with that, government initiatives such as "Make in India" and others are estimated to promote alternative packaging, such as biodegradable and environmentally friendly options, and contribute to market development in the projected period.
End-user sectors like food and beverages, healthcare, and cosmetics are envisioned to push the consumption of packaging supplies, leading to market growth in emerging regions such as China and India. Research and development efforts by governments and manufacturing units have resulted in industry-specific packaging solutions.
Furthermore, the recovering hotel and restaurant business relies on packaging supplies for FMCG product packaging, fresh food delivery, and electronic gadgets.
The novel trends are propelling the packaging supply market towards a projected CAGR of 3.1% from 2024 to 2034. The shift translates to an incremental opportunity of USD 358.1 billion over the subsequent decade. Future developments in design, functionality, and material science are anticipated as the industry develops to secure supplies' place as vital in packaging.
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Tier 1 firms in the packaging sector include Mondi Group Plc, Westrock Company, Oji Holdings Corporation, and others. They are industry leaders known for their considerable market presence and widespread awareness.
A small number of these firms are leaders in providing creative and dependable sustainable packaging solutions with a global reach, while a smaller number focus on producing high-quality packaging goods that serve a variety of industries.
Packaging industry Tier 2 firms, such as the Packaging Company, Packhelp, and Ruskin Group, are becoming more important due to their innovative, customized products and low pricing. To satisfy changing customer needs, the companies are utilizing sustainable practices and cutting-edge technology.
Their ability to effectively compete with larger organizations, along with their dedication to quality and strong regional presence, has allowed them to augment their revenue share and impact.
Tier 3 packaging companies, including Moraya Packaging and Tet Seng Packaging, specialize in particular aspects of the business by offering specialized and unique packaging solutions. They place a strong emphasis on creative design, flexibility, and personalized customer care to differentiate themselves. They are gaining traction and building a loyal customer base by meeting the needs of certain sectors and small enterprises.
The market study for packaging supply in each of the several countries may be found in the section that follows. In the Asia Pacific area, India is envisioned to post a CAGR of 5.1% by 2034, while China's economy is anticipated to show a CAGR of 4.1%. Forecasts indicate that the need for premium supplies for packaging in the Asia Pacific area is estimated to upsurge in the near future.
On the other hand, with a projected CAGR of 2.4% until 2034, Spain is going to stay to lead the European industry. Followed by the demand from France, with a CAGR of 2.3%.
| Countries | Value CAGR (2024 to 2034) |
|---|---|
| United States | 1.9% |
| Canada | 1.5% |
| France | 2.3% |
| Spain | 2.4% |
| India | 5.1% |
| China | 4.1% |
With the ease in the shipping and supply chain operation in the European regions, the demand for packing supplies from Spain is anticipated to lead in Europe. By 2034, the demand is projected to register a CAGR of 2.4%.
Leading manufacturers in Spain such as Tetra Laval International SA, Amcor Plc, Stora Enso Oyj, and others are estimated to deliver valuable supplies for packaging operations. The segment is profitable in the region as the region is envisioned to force affordable taxation of the supplies. Thus making the region more in demand for several big manufacturers.
The outlook for supplies for packaging in Spain is also estimated to shift because of consumer demand for eco-friendly packaging and longer delivery cycles. Providing businesses that put quality, preservation, and environmental responsibility first a competitive edge.
Owing to the outlook on the manufacturing and e-commerce industries in China, demand for packaging materials is envisioned to improve. In China from 2024 to 2034, it is projected that the CAGR will be 4.1%. The regional firms in China are anticipated to grow their need for packaging solutions with a greater product variety for packaging various items because of their supply chain activities.
Companies are estimated to boost revenue shares by offering novel and attractive designs that cater to the enlarged consumer base in China.
The growth of the regional operation in the packaging industry in China is helmed by a commitment to innovation and sustainability, with supplies for packaging playing an integral role in ensuring quality and sustainability in the industry.
Paper-based goods are widely consumed in India in a variety of industries, including communication, printing, packaging, and newspapers. The demand for these goods is anticipated to register a CAGR of 5.1% by 2034.
Several factors are anticipated to helm such a rising trajectory, including increased consumer awareness of sustainable practices and a move away from non-renewable minerals. Concerns over deforestation have also led interested parties to look for environmentally preferable substitutes.
India is foreseen to hold the leading share in the Asia-Pacific region, helmed by the urban populace and changing lifestyle patterns, in 2024. Thus, the packaging industry is anticipated to boost the import and export operations of the companies present in India.
The availability of raw materials within India further supports the adoption of paper-based solutions. As a result, the packaging industry in India is strategically embracing paper-based options, aligning with global sustainability trends.
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Details on the top industrial categories are provided in the section that follows. Plastic is speculated to generate 23.4% of the revenue in 2024 according to estimations. Along with this, it is supposed that food and beverage will be an industry leader in 2024 accounting for 29.6% of total income.
| Material | Plastic |
|---|---|
| Value Share (2024) | 23.4% |
According to projections, plastic materials are going to dominate the manufacturing industry in 2024. With a commanding market share of 23.4%, the plastics category stood in charge. Shelf appeal is increased by plastic materials' capacity to provide vivid printing and labeling possibilities.
The branding and eye-catching visuals encourage customer interaction and have an impact on purchase decisions. Furthermore, plastic packaging frequently has resealable and easy-to-open closures, which adds to consumer convenience. The plastic material market is especially significant for goods that must be refrigerated to maintain freshness or are consumed gradually.
Plastic materials are paramount in meeting the diverse needs of various industries, ensuring product quality, safety, and convenience, and supporting the upgradation of flexible packaging solutions.
| End Use | Food and Beverages |
|---|---|
| Value Share (2024) | 29.6% |
In 2024, demand for packaging supplies such as bags, wrappers, tapes, and others is anticipated to be enlarged from the food and beverage sector, accounting for a 29.6% revenue share.
As the food and beverage suppliers have diversified their product line up to attract a larger consumer base, the need for diverse packaging materials is also on the verge of peaking at the same time. The demand for more sustainable as well as attractive packaging materials is envisioned to command a large consumer base in the projected period.
Manufacturers in the food and beverage industry are estimated to invest in the research and development of novel packaging solutions over the years to attend to a more diverse consumer base.
The rising need for pre-packaged and ready-to-eat food products is predicted to fuel the expansion of supplies for packaging, offering the food and beverage sector an appealing alternative.
The need for packaging supplies in sectors like as consumer products, medicines, and food and beverage has led to a notable surge in the packaging industry in recent times. They are essential for satisfying regulatory standards, increasing the shelf life of products, and enhancing their aesthetic appeal. These supplies are anticipated to have a pivotal role in all packaging processes.
As customers become more environmentally sensitive, market participants are anticipated to change to sustainable and convenient packaging materials.
Businesses are entering the global industry through specialized areas such as industrial applications and bespoke packaging. The need for supplies that improve product quality and longevity on flexible substrates has increased due to the growing use of digital packaging technology.
As companies look for cutting-edge packaging solutions that strike a balance between sustainability, functionality, and legal compliance, the market is predicted to develop in the forthcoming decade.
Recent Industry Developments in Packaging Supply Market
Based on the materials, the industry is divided into plastic, paper and paperboard, glass, metal, and others.
In terms of functions, the industry is segregated into flexible packaging, rigid packaging, protective packaging, and specialty packaging.
Based on the End Use Industries of the supplies, the demand is categorized into food and beverages, healthcare and pharmaceuticals, cosmetic and personal care, industrial, consumer goods, logistics and transportation.
In terms of sales channels, the industry is categorized into direct sales, distributors, retail, and e-commerce.
Key countries of North America, Latin America, Europe, East Asia, South Asia & Pacific, Middle East and Africa (MEA), have been covered in the report.
The industry is projected to witness CAGR of 3.1% between 2024 and 2034.
The global industry stood at USD 263.9 billion in 2024.
The global industry is anticipated to reach USD 358.1 billion by 2034.
In 2023, the market is anticipated to be valued at USD 256.2 billion.
The key players operating in the global industry include Mondi Group Plc, Westrock Company, Oji Holdings Corporation, DS Smith Packaging Ltd, and others.
1. Executive Summary
2. Industry Introduction, including Taxonomy and Market Definition
3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments
4. Global Market Demand Analysis 2019 to 2023 and Forecast 2024 to 2034, including Historical Analysis and Future Projections
5. Pricing Analysis
6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034
6.1. Material
6.2. End Use
6.3. Function
6.4. Sales Channel
7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Material
7.1. Plastic
7.2. Paper & Paperboard
7.3. Glass
7.4. Metal
7.5. Others
8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End Use
8.1. Food & Beverages
8.2. Healthcare & Pharmaceutical
8.3. Cosmetic & Personal Care
8.4. Industrial
8.5. Consumer Goods
8.6. Logistics & Transportation
9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Function
9.1. Flexible Packaging
9.2. Rigid Packaging
9.3. Protective Packaging
9.4. Specialty Packaging
10. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Sales Channel
10.1. Direct Sales
10.2. Distributors
10.3. Retail
10.4. E-commerce
11. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region
11.1. North America
11.2. Latin America
11.3. Europe
11.4. South Asia and Pacific
11.5. East Asia
11.6. Middle East and Africa
12. North America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
13. Latin America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
14. Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
15. South Asia and Pacific Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
16. East Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
17. Middle East and Africa Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
18. Sales Forecast 2024 to 2034 by Material, End Use, Function, and Sales Channel for 30 Countries
19. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard
20. Company Profile
20.1. Mondi Group Plc
20.2. Westrock Company
20.3. Oji Holdings Corporation
20.4. DS Smith Packaging Ltd
20.5. Pratt Industries
20.6. The Packaging Company
20.7. Packhelp
20.8. Ruskin Group
20.9. Purple Co
20.10. Moraya Packaging
20.11. Tet Seng Packaging
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Packaging Supply Market
