FMCG packaging market is anticipated to expand its roots at an average CAGR of 5.8% between 2023 and 2033. The market is expected to have a market share of US$ 778.7 billion by 2033 while it is likely to be valued at US$ 443.1 billion in 2023.
The market is experiencing growth propelled by the prevalence of convenience and discount retailers, coupled with a notable uptick in production within the food and beverage sector. In the USA, there has been a substantial increase in the sales of dairy products, including milk, cheese, and yogurt, reflecting evolving consumer preferences in recent years.
The Indian market is experiencing a substantial boost in sales, propelled by increased production and consumption in the pharmaceutical and food and beverage sectors. Notably, investments in food processing, personal care, and pharmaceuticals are fostering growth in the Fast-Moving Consumer Goods (FMCG) packaging market, with India expected to lead the Asia Pacific region with a commendable CAGR of 7.4%. The government’s proactive engagement with industry experts, exemplified by the Packaging Industry Association of India (PIAI) drafting norms, underscores efforts to regulate packaging operations.
A notable surge in packaging consumption is evident, with a 200 percent increase in the last decade, climbing from 4.3 kilograms per person per annum (pppa) to 8.6 kg pppa, as reported by the Indian Institute of Packaging (IIP). Fueled by these factors, the demand in the Indian market is poised to maintain a robust growth trajectory, projecting a 7.3% CAGR over the forecast period.
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- 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
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
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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.
Expansion of the E-Commerce Sector Propel Sales of FMCG Packaging
- Increased Online Shopping: The e-commerce sector has witnessed rapid expansion, with more consumers opting to shop online for everyday products. This has driven the need for secure and efficient packaging solutions for shipping and delivery.
- Customized Packaging: E-commerce companies often require customized packaging solutions to cater to various product types and sizes. This demand for tailored packaging options has propelled the FMCG packaging market.
- Supply Chain Efficiency: Efficient packaging is crucial in ensuring that products reach customers in good condition. E-commerce businesses are increasingly focusing on optimizing their supply chains, and appropriate packaging plays a vital role in this process.
- Product Protection: FMCG packaging provides protection against potential damage during transit, ensuring that products arrive intact. This is especially critical for items that are sensitive to handling or environmental factors.
- Consumer Experience: Packaging design and quality influence the overall consumer experience, and e-commerce companies are investing in packaging to enhance branding and customer satisfaction.
- Sustainability Initiatives: E-commerce companies are increasingly adopting sustainable and eco-friendly packaging materials to reduce their environmental impact and meet consumer demand for green packaging solutions.
- Regulatory Compliance: The packaging used in e-commerce must comply with regulations and standards related to product safety and transportation.
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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.)
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