FMCG Packaging Market to Reach $1.4 Trillion, Globally, by 2033 at 4.6% CAGR: Allied Market Research

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The FMCG packaging industry is driven by increasing industrialization in developing countries, increasing global trade and increasing disposable income worldwide. These factors contribute to a higher demand for packaging solutions.

Wilmington, Delaware, May 22, 2024 (GLOBE NEWSWIRE) — Allied Market Research released a report, titled, “FMCG Packaging Market by Packaging Type (Bags & Pouches, Bottles & Jars, Paper & Carton, Aerosol Can, Tube , other ), Material (Paper & Cardboard, Plastic, Glass, Metal, Other) and Application (Food & Beverage, Healthcare, Home Care, Personal Care, Pet Care, Other): Global Opportunity Analysis and industry forecast, 2024-2033”. to the report, of FMCG packaging market was valued at $0.9 trillion in 2023 and is estimated to reach $1.4 trillion by 2033, growing at a CAGR of 4.6% from 2024 to 2033.

Key determinants of growth

The FMCG packaging industry is driven by increasing industrialization in developing countries, increasing global trade and increasing disposable income worldwide. These factors contribute to a higher demand for packaging solutions. There is a clear opportunity in developing sustainable packaging to meet consumer preferences for environmentally friendly products. However, different legal guidelines regarding packaging in different countries pose a challenge for companies operating across borders. Balancing regulatory compliance while maintaining efficiency is critical to market success.

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Report coverage and details:

Report coverage

The details

Forecast period

2024–2033

Base year

2023

Market size in 2023

0.9 trillion dollars

Market size in 2033

1.4 trillion dollars

CAGR

4.6%

No. of pages in the report

245

Segments covered

Packaging type, material, application and region.

leader

Increasing industrialization in developing countries

Increase in global trade

Increasing the disposable income of people in general

OppORTuNiTy

Development of sustainable FMCG packaging

RESTRICTIONS

Different legal guidelines regarding packaging in different countries.

Bottles and jars segment to maintain its leading status throughout the forecast period

Based on packaging type, the bottles and jars segment held the highest market share in 2023, accounting for more than half of the global FMCG packaging market revenue and is estimated to maintain its leading status throughout the forecast period . Bottle and jar packaging in the FMCG sector provides excellent product protection, extending shelf life and increasing brand visibility on shelves, thus effectively attracting consumer attention. On the other hand, the paper and cardboard boxes segment is projected to manifest the highest CAGR of 5.8% from 2024 to 2033. The paper and cardboard boxes in the FMCG sector provide eco-friendly packaging solutions, meeting the growing demand for options stable. They offer flexibility in design, allowing for creative branding and product differentiation while ensuring cost-effectiveness in manufacturing and distribution.

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The plastic segment to maintain its leading status throughout the forecast period

Based on material, the plastic segment held the highest market share in 2023, accounting for nearly half of the global FMCG packaging market and is estimated to maintain its leading status throughout the forecast period. Plastic packaging offers lightweight, durable and flexible solutions for a range of products, including food and beverage, healthcare and consumer goods, with options such as bags, films, bottles and containers. However, the paper and board segment is projected to manifest the highest CAGR of 5.1% from 2024 to 2033. Paper and board packaging, made from materials such as corrugated board and molded pulp, provides cushioning and protection to products fragile or sensitive, offering eco-friendly and recyclable alternatives for packaging needs.

The food and beverage segment to maintain its leading position during the forecast period

Based on application, the food and beverage segment accounts for the largest share in 2023, contributing to more than one-third of the global FMCG packaging market revenue and is projected to maintain its leading position during the forecast period. The food and beverage sector is growing as people’s disposable incomes are generally increasing around the world. However, the pet care segment is expected to portray the largest CAGR of 6.0% from 2024 to 2033. The pet care segment is growing due to the increasing number of pets in developing countries.

Asia-Pacific will maintain its dominance until 2033

Based on region, Asia-Pacific held the highest market share in terms of revenue in 2023, accounting for nearly half of the global FMCG packaging market revenue and is likely to dominate the market during the forecast period. Furthermore, the Asia-Pacific region is expected to witness the fastest CAGR of 5.0% from 2024 to 2033. The Asia-Pacific region presents many growth opportunities for key players in the FMCG packaging market, owing to the industrialization of fast in places like India and China.

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Major Market Players:-

  • Amcor plc

  • Tetra Pak

  • Ball Corporation

  • Sealed Air Corporation

  • Huhtamäki

  • Berry Global Group, Inc.

  • DS Smith plc

  • World Group

  • RPC group

  • WestRock Company

The report provides a detailed analysis of these key players in the global FMCG packaging market. These players have adopted various strategies such as new product launches, collaborations, expansion, joint ventures, agreements and others to increase their market share and maintain dominant shares in various regions. The report is valuable in highlighting the business performance, operating segments, product portfolio and strategic moves of the market players to display the competitive scenario.

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Allied Market Research (AMR) is a full-service market research and business advisory arm of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.

We are in professional corporate relationship with various companies and this helps us in digging the market data which helps us to generate accurate research data tables and confirms maximum accuracy in our market forecast. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high data quality and help clients in every possible way to achieve success. All the data presented in the reports published by us are extracted through primary interviews with senior officials from the leading companies in the field in question. Our secondary data procurement methodology involves in-depth online and offline research and discussions with knowledgeable industry professionals and analysts.

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