The global cohesive packaging solutions market is on a robust growth trajectory, with an anticipated market value of US$ 1.6 billion in 2023, projected to reach US$ 2.9 billion by 2033, reflecting a substantial compound annual growth rate (CAGR) of 6.1%. This remarkable expansion follows a commendable 5% CAGR in the historical period from 2018 to 2022. Cohesive packaging solutions stand out for their adaptability and customization, making them indispensable in the packaging industry.
The proliferation of the transportation and e-commerce sectors, coupled with a heightened focus on eco-friendly practices, has fueled this growth. Consumers’ increasing awareness of sustainable packaging, coupled with advancements in packaging materials and ongoing research and development efforts, are key drivers for this market. The adoption of cohesive bubble packaging across various industries is also a notable contributing factor. Furthermore, the biodegradable properties of plastic wraps and the growing emphasis on eco-friendly products have amplified the appeal of cohesive packaging solutions, auguring well for the market’s future prospects. In summary, the future of the cohesive packaging solutions market looks promising, driven by evolving consumer preferences and sustainable packaging trends.
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The Advent of Sustainable and Intelligent Packaging Solution Skyrocketing the Demand for Cohesive Packaging Solutions
With rising environmental concerns and implementation of stringent regulations regarding the use of plastic across the U.S., China, India, the U.K., Germany, and others, a substantial rise in the adoption of sustainable packaging solutions is experienced across various end use industries.
In accordance to this, numerous packaging companies are shifting their focusing of manufacturing sustainable packaging using 100% recycled plastics, biodegradable plastics, and plastic alternatives such as paper. Hence, introduction of novel sustainable packaging solutions is expected to create lucrative demand opportunities in the market.
Also, emergence of intelligent packaging with the integration of artificial intelligence (AI), internet of things (IoT), and data science have improved the demand for Cohesive Packaging Solutions industry. Hence, key players are incorporating novel technologies such as AI and IoT to increase their revenues, propelling the sales.
Key Takeaways and Projections:
- The U.S. is expected to lead the North America Cohesive Packaging Solutions industry, projecting the fastest growth in the region between 2023 and 2033
- Germany and the U.K. are expected to, collectively, hold the largest share in the Europe market over the assessment period.
- China will dominate the East Asia market, accounting for the largest demand share during the forecast period.
- India is expected to emerge as a highly remunerative market in South Asia, contributing the significant revenue share in the region through 2033.
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Report Benefits & Key Questions Answered
- Historical Market Analysis: The detailed survey by FMI, examines key factors in the Cohesive Packaging Solutions market that affected the growth in the industry for the last assessment period 2016-2020 and also studies their consequent impact. It also provide refined the sales projection of the Cohesive Packaging Solutions industry for the forecast period 2023-2033.
- Demand Outlook Analysis: Future Market Insight’s (FMI’s) exhaustive study provides crucial insights into key drivers and upcoming opportunities driving the demand for Cohesive Packaging Solutions for the assessment period. As per the study, the demand for Cohesive Packaging Solutions will grow at a robust CAGR between 2023 and 2033.
- Market Trend Analysis: The latest study by FMI on the Cohesive Packaging Solutions industry offers compelling insights into key expansion strategies adopted by top-tier players with respect to current trends. It discloses details regarding upcoming trends in the packaging industry to assist market players in constructing an effective strategy to capitalize on them.
Competitive Landscape Analysis
The industry survey conducted by FMI offers key trends and challenges in the packaging industry and its consequent impact of Cohesive Packaging Solutions industry. The survey provides a thorough market share analysis to offer an in-depth analysis of prevailing competition.
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Key Segments:
- Based on Type of Material:
- Paper and Paperboard
- Plastic Films and Wraps
- Foam
Based on Packaging Process:
- Manual
- Automatic
Based on Application:
- E-commerce packaging
- Furniture and household goods
- Electricals and Electronics
- Automotive industry
- Others (Printing and Publication)
Based on the Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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