The GMI Research's latest analysis reveals that the Packaging Market is slated to register a significant CAGR over the forecast period. This is attributed to the rising population rate, growing urbanization, and drastically changing diet patterns. The rising technological advancement and product innovation will drive market growth.

DUBLIN, DUBLIN -- (SBWire) -- 03/03/2021 --Packaging Market Dynamics (including market size, share, trends, growth, forecast, and industry analysis)

Key Drivers

The global packaging market is predicted to witness an upsurge in demand during the forecast period due to the increasing acceptance of digital printing across various brands worldwide. Digital print on the packing of the goods to enhance the product appeal while offering product information including ingredients utilized in the products, date of manufacturing, and cost of the product will further accelerate the growth of the packaging market size. According to the packaging market report, the rising technological advancement and product innovation will bring various growth opportunities in the market, thus promoting the manufacturers' adoption of attractive packaging for exceptional brand identity. The rising accessibility of third-party logistics service enterprises in the packaging sector is the emerging packaging market trends that is surging the market demand during the forecast period.

The rapid use-sectors of packing like food, retail, consumer goods, and pharmaceuticals sector will further boost the growth of the packaging market share in terms of revenue. The rising population rate, growing urbanization, and drastically changing diet patterns are the drivers propelling the growth of the packaging market. With the rapid economic growth and rising personal disposable income, consumers are actively looking for ready-to-eat packed food products. In addition to this, numerous food & beverage players emphasize on surging their product offerings with reusable packaging materials and investing in research and development activities in biodegradable packaging. All these factors will have a positive influence on the market's demand. The rising penetration of the Internet and smartphones globally is growing the e-commerce market, which is accelerating the growth of the market. On the other edge, the increasing number of strict government policies on volatile organic compound (VOC) emissions will hinder the growth of the market.

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Packaging Market's leading Manufacturers:

- Sealed Air Corporation
- Berry Plastics Group Inc.
- Coveris Holdings S.A.
- Ball Corporation
- Crown Holdings
- Amcor Limited
- Mondi
- ProAmpac.
- Reynolds Group Holdings
- Bemis Company Inc.

Material Segment Drivers

Based on material, the packaging market is segmented into rigid plastics, paper & paperboard, flexible, glass, metal, and others. The paper & paperboard is predicted to increase at a higher CAGR due to the shift in the consumers' preference of paper and paperboard packaging like protective mailers, folding, corrugated board, or cardboard and lose fills due to the rising environmental concerns.

Packaging Market Segmentation:

Segmentation by Material:

- Paper & Paperboard
- Rigid Plastics
- Flexible
- Metal
- Glass
- Others

Segmentation by Function:

- Cushioning
- Blocking & Bracing
- Void-fill
- Insulation
- Wrapping
- Others

Segmentation by Application:

- Food
- Beverage
- Healthcare
- Cosmetics
- Industrial
- Others

Segmentation by Region:

- North America

o United States of America
o Canada

- Asia Pacific

o China
o Japan
o India
o Rest of APAC

- Europe

o United Kingdom
o Germany
o France
o Spain
o Rest of Europe

- RoW

o Brazil
o South Africa
o Saudi Arabia
o UAE
o Rest of the world (remaining countries of the LAMEA region)

Our Other Relevant Reports:

1. Food Packaging Market
2. Paper Packaging Market
3. Edible Packaging Market
4. Medical Packaging Market

About GMI Research

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