At 4.68% CAGR, Global FMCG Packaging Market Size & Share to Surpass USD 955.6 Billion by 2028 | Industry Trends, Growth, Value, Opportunities, Statistics, Analysis & Forecast Report by Zion Market Research
NEW YORK, June 24, 2022 /PRNewswire/ -- As per Zion Market Research study, The global FMCG packaging market was worth around USD 691.5 billion in 2021 and is estimated to grow to about USD 955.6 billion by 2028, with a compound annual growth rate (CAGR) of approximately 4.68 percent over the forecast period.
Key Industry Insights & Finding of the FMCG Packaging Market Reports:
- As per the analysis shared by our research analyst, the FMCG Packaging Market is expected to grow annually at a CAGR of around 4.68 % (2022-2028).
- Through the primary research, it was established that the FMCG Packaging Market was valued approximately USD 691.5 Billion in 2021 and is projected to reach to roughly USD 955.6 Billion by 2028.
- The rise of the FMCG packaging market in India is being aided by rising investments in the food processing, personal care, and pharmaceuticals industries.
- The Packaging Industry Association of India (PIAI) draughts regulations and guidelines to govern the packaging industry in India.
- The ubiquity of convenience and discount stores throughout the area, as well as a strong development rate in the food and beverage sector aimed toward time-pressed customers, are contributing to the expansion of FMCG packaging in North America.
- USDA ERS and a survey by the US Department of Agriculture, per capita, cheese consumption climbed up to 45 pounds by 2019. USDA Foreign Agricultural Service reported that per capita dairy product consumption has grown by 5 percent in the last couple of years.
Zion Market Research published the latest report titled as "FMCG Packaging Market By Type (Paperboard, Flexible Plastic, Rigid Plastic, Metal), By Application (Food & Beverages, Pharmaceutical Industry, Personal Care Industry, Other), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2028." into their research database.
FMCG Packaging Market : Overview
Consumer packaged goods (CPG) or fast-moving consumer goods (FMCG) refer to a group of high-demand merchandise that are sold quickly and for a comparatively low price. Processed foods, beverages, vegetables, toiletries, fruits, and other consumables are among these things. To protect the product from contamination and the growth of microbes, FMCG items are packaged using a variety of materials such as plastic, glass, metal, and paperboard. This, in turn, aids manufacturers in preserving product quality, extending shelf life, and allowing businesses to sell their brand through personalized packaging.
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Industry Dynamics:
FMCG Packaging Market : Growth Drivers
- Increasing demand for nutritional foods among consumers may drive the growth of the market.
With customer demand for healthy meals on the rise, FMCG packaging businesses are reinventing their packaging to protect the nutritional content of the items they package. In May 2020, fresh-cut vegetable packaging included a revolutionary technology that emits an anti-pathogenic substance within the container to defend against germs, fungus, and viruses. Also, the transportation of packaged products and consumables can have negative consequences and reduce the nutritional value of the bundled contents. As customers want more knowledge about the origins of food goods, hyperlocal supply chains are becoming more prevalent. Big merchants are beefing up their packaging to entice customers, thanks to the growing rise of private brands. According to a Daymon poll, more than half of customers are loyal to a company because of its private-label products. Furthermore, 85 percent of customers said they trust a private brand equally as much as a national brand, and 81 percent said they buy an individual brand product on every shopping trip, according to the research. These factors are projected to make a substantial impact on the growth of the market.
FMCG Packaging Market : Restraints
- Scenario of plastic packaging recycling to limit the market growth.
Packaging has always been important in maintaining product integrity, safety, and quality all through the distribution chain. For FMCG firms, post-consumer packaging waste is a major challenge. Only 16 percent of all plastic garbage created gets reprocessed to make new polymers, according to estimates of global uncontrolled dumping of all plastic material. Approximately 25% of worldwide plastic garbage is incinerated, while 40% is disposed of in landfills. Plastic packaging has been criticized for its low recycling rates and increasing environmental impact. Packaging demand growth is outpacing worldwide packaging growth rates, putting pressure on emerging economies, particularly Asian ones. Both recycling systems and waste collection are inefficiently handled and insufficiently scaled. This might impede the growth of the global FMCG packaging market.
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Global FMCG Packaging Market : Opportunities
- Growing adoption of intelligent packaging is estimated to boost the market during the forecast period.
Consumers benefit from intelligent packaging because it adds value to their experience. Intelligent packaging is a smart method of determining the shelf life and quality of consumable goods. Touchless codes, such as temperature & moisture indicators, QR codes, barcodes, and others, pull information in less time, allowing buyers to make more informed judgments faster. Active packaging, such as Vacuum Atmospheric Packaging (VAP) and Modified Atmospheric Packaging (MAP), on the other hand, ensures that consumable items have a longer shelf life. Because smart packaging allows marketers to develop a brand presence, many end-users, such as pharmaceuticals and food & beverage, are migrating from traditional package types to smart packaging. All such factors may have numerous opportunities for the growth of the market during the forecast period.
Global FMCG Packaging Market : Challenges
- Low penetration of the market in rural areas and low shelf life are the major challenges for the market.
In developing countries, rural areas remain behind the times, with insufficient connection. As a result, distribution in rural areas is both costly and complicated. Because of the poor state of the roads, getting stock is becoming increasingly challenging. Again, the amount of business in rural areas is minimal, and small-quantity shipment is not cost-effective. Distance from a distributor or super supplier point adds to the stress. Furthermore, it makes no difference whether the brand is tiny or has a long shelf life. Some foodstuffs, such as bread, cake, and cold drinks, are perishable and have a shelf life of fewer than three months. These factors are stressing manufacturers to produce innovative packaging materials.
Global FMCG Packaging Market : Segmentation
- The global FMCG packaging market is segmented based on type, application, and region.
The type segment of the market is sub-categorized into paperboard, metal, rigid plastic, and flexible plastic. The application of FMCG packaging is bifurcated into the pharmaceutical industry, food & beverages, personal care industry, and others.
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List of Key Players of FMCG Packaging Market :
- Amcor plc
- Albéa Group
- AptarGroup Inc.
- Ball Corporation
- Consol Glass (Pty) Ltd
- Berry Global Inc.
- Crown Holdings Inc.
- Graham Packaging Company
- DS Smith PLC
- Sealed Air Corporation
- Tetra Pak International S.A.
- Toyo Seikan Group Holdings Ltd.
- Sonoco Products Company.
Key questions answered in this report:
- What are the growth rate forecast and market size for FMCG Packaging Market ?
- What are the key driving factors propelling the FMCG Packaging Market forward?
- What are the most important companies in the FMCG Packaging Market Industry?
- What segments does the FMCG Packaging Market cover?
- How can I receive a free copy of the FMCG Packaging Market sample report and company profiles?
Report Scope:
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Recent Developments
- In January 2022, PFF Group has created IMPACT-T, a recyclable food packaging solution that uses less plastic than PET packaging and allows for greater utilization of post-consumer recycled (PCR) material, hence reducing resource use.
- In February 2022, Berry Global purchased circular polymers from ExxonMobil. The circular polymers will be used by Berry Global to make food-grade packaging containers.
Regional Dominance:
- Asia Pacific likely to dominate the global market in coming period.
Asia Pacific is expected to lead the global FMCG packaging market over the forecast period. This is due to a rapid expansion of the food & beverage and pharmaceutical industries in India and China. The rise of the FMCG packaging market in India is being aided by rising investments in the food processing, personal care, and pharmaceuticals industries. The government has been in contact with industry professionals to maximize the packaging sector's opportunities in India. For instance, the Packaging Industry Association of India (PIAI) draughts regulations and guidelines to govern the packaging industry in India. The market in North America on another side is projected to witness strong growth during the forecast period. The ubiquity of convenience and discount stores throughout the area, as well as a strong development rate in the food and beverage sector aimed toward time-pressed customers, are contributing to the expansion of FMCG packaging in North America. Dairy goods, such as milk, cheese, and yogurt, have seen high demand in the United States in recent years. According to USDA ERS and a survey by the US Department of Agriculture, per capita, cheese consumption climbed up to 45 pounds by 2019. USDA Foreign Agricultural Service reported that per capita dairy product consumption has grown by 5 percent in the last couple of years.
Global FMCG Packaging Market is segmented as follows:
FMCG Packaging Market : By Type Outlook (2022-2028)
- Paperboard
- Flexible Plastic
- Rigid Plastic
- Metal
FMCG Packaging Market : By Application Outlook (2022-2028)
- Food & Beverages
- Pharmaceutical Industry
- Personal Care Industry
- Other
FMCG Packaging Market : By Region Outlook (2022-2028)
North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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Browse Other Related Research Reports from Zion Market Research
- Pharmaceutical Glass Packaging Market - Global Industry Analysis: The global Pharmaceutical Glass Packaging Market accrued earnings worth approximately 4.18 (USD Billion) in 2020 and is predicted to gain revenue of about 8.01(USD Billion) by 2028, is set to record a CAGR of nearly 8.9% over the period from 2021 to 2028.
- Aseptic Paper Packaging Market - Global Industry Analysis: The global Aseptic Paper Packaging market accrued earnings worth approximately 11.1(USD Billion) in 2020 and is predicted to gain revenue of about 16.2(USD Billion) by 2028, is set to record a CAGR of nearly 5.2% over the period from 2021 to 2028.
- Medical Flexible Packaging Market - Global Industry Analysis: The global Medical Flexible Packaging market accrued earnings worth approximately 14.9(USD Billion) in 2019 and is predicted to gain revenue of about 27.3(USD Billion) by 2026, is set to record a CAGR of nearly 6.87% over the period from 2020 to 2026.
Browse through Zion Market Research's coverage of the Global Packaging Industry
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