The global FMCG packaging market was worth around USD 445 billion in 2022 and is estimated to grow to about USD 765 billion by 2030, with a compound annual growth rate (CAGR) of approximately 5.85% over the forecast period. The report analyzes the FMCG packaging market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the FMCG packaging market.
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.
The onset of COVID-19 pandemic rapidly changed consumers’ preferences that include increased shopping through digital channels, inclination towards hygienic packaging, and pocket-friendly product cost has drastically changed the packaging sector's scenario. Manufacturers faced major challenges to reduce the cost of packaging without altering the quality, and increase the packaging options concerning materials & sizes to make the final product more cost-effective. However, the sectors faced a few hurdles due to supply chain disturbances and restricted logistics. Still with the increase in demand from the food & beverage and pharmaceutical sectors the global FMCG packaging market is expected to recover fast during the forecast period.
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.
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.
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.
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.
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.
Report Attributes | Report Details |
---|---|
Report Name | FMCG Packaging Market Research Report |
Market Size in 2022 | USD 445 Billion |
Market Forecast in 2030 | USD 765 Billion |
Compound Annual Growth Rate | CAGR of 5.85 |
Number of Pages | 140 |
Forecast Units | Value (USD Billion) |
Key Companies Covered | 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 |
Segments Covered | By Type, By Application and By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East and Africa (MEA) |
Countries Covered | North America: U.S and Canada Europe: Germany, Italy, Russia, U.K, Spain, France, Rest of Europe APAC: China, Australia, Japan, India, South Korea, South East Asia, Rest of Asia Pacific Latin America: Brazil, Argentina, Chile The Middle East And Africa: South Africa, GCC, Rest of MEA |
Base Year | 2022 |
Historical Year | 2017 - 2021 |
Forecast Year | 2023 - 2030 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
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.
Key players functioning in the global FMCG packaging market include 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., and Sonoco Products Company.
By Type
By Application
By Region
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 ingested 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.
According to the research report, the global FMCG packaging market was worth about 445 (USD billion) in 2022 and is predicted to grow to around 765 (USD billion) by 2030, with a compound annual growth rate (CAGR) of around 5.85%.
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.
Key players functioning in the global FMCG packaging market include 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., and Sonoco Products Company.
FMCG Packaging
FMCG Packaging
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