The FMCG packaging market is projected to witness substantial growth from 2023 to 2033, with a Compound Annual Growth Rate (CAGR) of 5.8%, leading to 1.8 times higher revenues. Packaging plays a pivotal role in driving sales for consumer goods, encompassing food and hygiene products, and it contributes to nearly half of all sales.
The emergence of e-commerce and online shopping has brought about significant changes in the FMCG packaging industry. There is an increasing demand for durable packaging that can withstand the challenges of shipping and handling, as more consumers prefer making purchases online. For FMCG companies, packaging has become a crucial element to distinguish their products from competitors in the digital marketplace.
Another notable trend in the consumer packaged goods sector is the focus on sustainability and environmentally friendly packaging solutions. Consumers are becoming more environmentally conscious, pressuring FMCG companies to reduce their carbon footprint and adopt sustainable packaging practices. Consequently, there is a rising demand for packaging materials that are compostable and biodegradable.
FMCG companies are placing a high priority on user comfort, convenience, and environmental considerations when developing packaging solutions. Packaging designs that are easy to open, resealable, and portable are highly sought after, catering to busy lifestyles and on-the-go consumption habits. To minimize waste while offering portability and convenience, various packaging types such as pouches, sachets, and single-serve containers have been introduced.
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Key Takeaways:
- Based on end use, sales in the food & beverage sector are projected to increase at a 6.1% CAGR through 2032.
- In terms of material, demand in the plastic segment will remain high.
- By material type, the rigid packaging segment is forecast to grow at a 5.5% CAGR over the assessment period.
- The U.S. will continue dominating the North America FMCG packaging market through 2032, with sales growing at a 5% CAGR.
- Sales in the India FMCG packaging market will grow at a robust 7.3% CAGR through 2032.
Competitive Landscape
Leading players operating in the global FMCG packaging market are tailoring their services to more precise market niches by customizing products for various end users. In addition to this, players are investing in research and development to improve their product portfolios. For instance:
- In January 2022, PFF Group introduced fully recyclable food packaging product IMPACT-T that requires less plastic than PET packaging and enables increased use of post-consumer recycled (PCR) material, optimising the resources used.
- In January 2020, Amcor announced a partnership with Moda vacuum packaging solutions in North America and Latin America. Producers can obtain operational improvements and create total cost savings by integrating Amcor’s shrink bag and roll stock film for meat and cheese with Moda’sModa’s system.
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Some of the leading companies operating in the market are:
- Berry Global Inc.
- Crown Holdings
- WestRock Company
- Sealed Air Corporation
- Sonoco Products Company
- Ball Corporation
- Kimberly-Clark Corporation
Key Benefits for FMCG Packaging Market:
- Porter’s Five Forces analysis: The application of Porter’s Five Forces analysis allows for a comprehensive assessment of the potential of buyers and suppliers, as well as the competitive landscape of the industry. This analysis aids in strategy development by identifying the market’s dynamics and key influencing factors.
- Regional revenue contribution mapping: The report provides a mapping of major countries within each region based on their individual revenue contribution to the global or regional FMCG packaging market. This mapping helps in understanding the market’s geographical distribution and potential growth areas.
- Future scenario and trend analysis: A detailed outlook on the current trends and future scenario of the FMCG packaging market from 2023 to 2033 is provided. This analysis assists in identifying emerging opportunities and potential investment pockets for businesses operating in the market.
- Key player profiles and strategic developments: The report includes profiles of key players in the FMCG packaging market, along with their key strategic developments. This information offers insights into the competitive landscape and the strategies employed by major market players.
- Impact analysis of drivers, restraints, and opportunities: The study provides a thorough analysis of the key drivers, restraints, and opportunities in the FMCG packaging market. Detailed impact analyses of these factors help stakeholders understand the market dynamics and make informed decisions
USA and India: Lucrative Markets for FMCG Packaging
The USA and India are considered lucrative markets for FMCG packaging due to various factors driving growth in these regions.
- USA: Emphasis on Packaging Innovation and Sustainability The USA FMCG packaging market is thriving, primarily driven by the rapid expansion of the beverage sector. Packaging and labeling companies are collaborating with the beverage industry to enhance packaging designs and attract consumers. The demand for sustainable and recyclable packaging formats is also on the rise, pushing manufacturers to launch innovative products. The market in the USA is projected to grow at a CAGR of 5% over the forecast period.
- India: Growing Production and Consumption in Key Industries The Indian FMCG packaging market is experiencing significant growth, fueled by increasing production and consumption in sectors such as pharmaceuticals, food processing, and personal care. Investments in these industries are driving the expansion of the FMCG packaging market in India. The government is actively engaging with industry experts to regulate packaging operations and maximize the sector’s potential. The market in India is expected to grow at a robust CAGR of 7.4% in the Asia Pacific region
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Global FMCG Packaging Market By Category
By Product Type :
- Flexible Packaging
- Pouches & Sachets
- Stick Packs
- Bags & Sacks
- Foils & Films
- Rigid Packaging
- Boxes & Cartons
- Trays
- Tubes
- Containers & Jars
- Bottles
- Cans
- Blisters
By Material Type :
- Plastic
- Paper and Paperboard
- Metal
- Glass
- Others (Wood, Foam, etc.)
By End Use :
- Food & Beverage
- Pharmaceuticals
- Personal Care & Cosmetics
- Homecare Products
- Electronics
About FMI
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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