Dallas, TX -- (SBWIRE) -- 09/19/2018 -- Global FMCG Industry Analysis 2018-2023:
The global FMCG packaging market size is anticipated to witness growth at a CAGR of 3.3% in terms of volume over the forecast period. Changing lifestyle of the increasing middle-class population in developing countries along with technological advancements enabling development of eco-friendly product packaging are the key factors driving the growth of the global FMCG packaging industry.
Key companies analysed in the Global FMCG Packaging Market report:
Amcor Limited
Ball Corporation
Crown Holdings, Inc.
Tetra Pak International S.A.
Berry Plastics
Huhtamaki Oyj
Others
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Packaging industry is extremely dynamic and multifaceted with continual innovations in technology and design. Hence, the market is marked by product relaunches with innovative packages, thereby boosting the global FMCG packaging market growth.
Packaging plays a crucial role by increasing the saleability of a product. Packaging is one of the primary tools employed for conveying the brand message to the buyer. Companies are focusing on marketing their products through the most unique and attractive packaging solutions to highlight their products' differentiation within a market flooded with similar products.
Although a mature market, packaging has been growing steadily over the years with technological evolution. Packaging has evolved from crude heavy designs to sophisticated lightweight designs to increase saleability. FMCG industry has emerged as one of the most prominent application sectors for packaging over the past few years propelled by the growing diversity and sales of food & beverages and personal care products.
Plastics, both rigid and flexible, are extensively used as FMCG packaging solutions on account of their low cost, abundance, and easily molded. However, the presence of a stringent regulatory framework for the use of plastics across the world is expected to hamper its market growth over the forecast period. Consumer preference for eco-friendly materials such as paper & paperboards is expected to drive its demand. Paper & paperboard packaging market is anticipated to grow at an above-average CAGR to contribute to 33.4% of the total volume demand in 2023.
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North America has been one of the major FMCG manufacturers across the world, thereby, providing tremendous opportunity for the establishment and growth of the packaging market. The United States offers significant potential for the growth of the FMCG packaging market on account of the large-scale manufacturing and sale.
Global FMCG sales have seen an exponential increase over the past decade on account of several factors such as growing number of manufacturers, robust distribution channels, rising awareness of hygiene (in case of personal care products), and rising demand for packed foods & beverages driven by increase in working population. These factors have consequently played a crucial role in driving the demand for packaging solutions.
The emergence of active and intelligent (smart) packaging solutions for food, beverages, and personal care products is likely to open new opportunities for the growth of the global FMCG packaging market over the next few years. With IoT, smart packaging is expected to receive the necessary impetus to be launched for the mainstream applications.
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Key segments of the global FMCG packaging market
Material Type Overview, 2013-2023 (Kilo Tons, USD Million)
Paper & Paperboard
Plastic
Metal
Glass
Others
End-use Industry Overview, 2013-2023 (Kilo Tons, USD Million)
Food & Beverages
Cosmetic & Personal Care
Others
Regional Overview, 2013-2023 (Kilo Tons, USD Million)
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
About Adroit Market Research
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