FMCG Packaging Market on the Horizon: Projected to Surpass US$ 778.7 Billion by 2033 | FMI

Foreseeing robust growth, the Fast-Moving Consumer Goods (FMCG) packaging market is projected to establish a firm foothold, exhibiting an average Compound Annual Growth Rate (CAGR) of 5.8% throughout the forecast period. The market’s revenue is poised to reach US$ 443.1 billion in 2023, marking a substantial financial milestone. Looking ahead, optimistic forecasts anticipate a remarkable ascent, with the market expected to surpass a valuation of US$ 778.7 billion by 2033. This trajectory reflects sustained demand and underscores the pivotal role of packaging in the dynamic and ever-expanding landscape of the Fast-Moving Consumer Goods sector.

The surge in the e-commerce sector is propelled by a notable shift from traditional brick-and-mortar establishments to online retailers, driven by changing consumer preferences. Additionally, the rising prevalence of mobile devices has further inclined consumers towards the convenience and accessibility offered by online retail platforms.

The upswing in both production and consumption within the pharmaceutical and food and beverage sectors is fueling heightened sales in the Indian market. Substantial investments in the food processing, personal care, and pharmaceutical industries are facilitating the robust expansion of the Fast-Moving Consumer Goods (FMCG) packaging market in India. Projections indicate India’s flourishing market, positioned at a noteworthy Compound Annual Growth Rate (CAGR) of 7.4%, outpacing other nations in the Asia Pacific region, underscoring the country’s pivotal role in shaping the regional dynamics of the FMCG packaging industry.

Request Sample: https://www.futuremarketinsights.com/reports/sample/rep-gb-110

• The restoration of the FMCG industry, rising awareness among end users around climate change, and high-end research and development facilities are fueling the market growth. Furthermore, the higher adoption of intelligent packaging in brands is also flourishing the market growth.
• The expansion of e-commerce platforms, increased focus on sustainable packaging, and rising per capita incomes are positively impacting FMCG packaging. Alongside this, the increasing penetration of online food delivery platforms is also garnering market growth.
• The increased focus on hygiene and cleanliness post-pandemic has pushed FMCG vendors to adopt multi-layer packaging solutions. The increased government efforts to transition the packaging sector and limit the carbon footprint is expected to propel the market’s growth trajectory.
• The recycled and renewable packaging solutions along with the higher sales of non-alcoholic and dairy products are likely to fuel the market. Furthermore, the usage of insulated layers in FMCG packaging is anticipated to transform the market during the forecast period.

Key Points

1. The United States market leads the FMCG packaging market in terms of market share in North America. The United States region held a market share of 18.9% in 2022. The growth in this region is owing to the restored FMCG product line, and higher consumption of ready-to-eat food items. The North American region held a share of 28.5% in 2022.
2. Germany’s FMCG packaging market is another significant market in the European region. The market held a market share of 7.1% in 2022. The growth is attributed to higher government efforts and increased support for sustainable business ideas and adoption. Europe held a market share of 24.3% in 2022.
3. The Indian FMCG packaging market thrives at a leading CAGR of 7.4% during the forecast period. The market’s growth is attributed to the expansion of sustainable businesses, and proliferating e-commerce penetration.
4. Chinese FMCG packaging market also thrives at a CAGR of 6.0% between 2023 and 2033. The growth is attributed to the large FMCG consumer base and higher imports.
5. Based on product type, the rigid packaging segment held the leading market share of 63.9% in 2022. The growth is attributed to the increased strength, durability, and recycling capabilities.
6. Based on end use, food, and beverages consumed most of the market as it held a leading market share of 56.2% in 2022.

Competitive Landscape

The key vendors work on using environmentally friendly and bio-degradable materials in their solutions. Key competitors and also merge, acquire, and partner with other companies to increase their supply chain, and distribution channel.

Request Report Methodology: https://www.futuremarketinsights.com/request-report-methodology/rep-gb-110

Key Players

• Berry Global Inc.
• Crown Holdings
• WestRock Company
• Sealed Air Corporation
• Sonoco Products Company
• Ball Corporation
• Kimberly-Clark Corporation
• Mondi Plc
• Huhtamaki Oyj
• Ardagh Group S.A.

Recent Market Developments

• Sonoco Products Company has introduced material expertise and sustainable flexible packaging solutions. Some of the common packaging types that the company offers include flexible packaging, rigid paper containers, rigid plastic, and blister packaging.
• Ball Corporation has introduced the total advertising and packaging package for the end user companies of different levels.

Demand for Rigid Packaging in the Food and beverage Sector Will Remain High

In the context of end-use applications, the food and beverage sector is expected to witness a notable sales uptick, with a projected 6.1% Compound Annual Growth Rate (CAGR) throughout the forecast period. Beverage companies are actively embracing innovative packaging formats to enhance sales, with this segment commanding a substantial share of 63.9% in 2022.

Illustrating this trend, AVE United Kingdom introduced a new line of bottling equipment in August 2019, featuring Monobloc (filler/capper) and Unibloc (rinser/filler/capper) models capable of handling diverse components within a single machine. This mobile bottling equipment is strategically designed to mitigate costs associated with plastic packaging.

Buy Now/Purchase: https://www.futuremarketinsights.com/checkout/110

Key Segments Covered

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
• Others (Office Supplies, Textiles, etc.)

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.

Contact Us:        

Nandini Singh Sawlani  

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube