How Big is The FMCG Packaging Market?
The global FMCG packaging market size reached US$ 716.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 943.0 Billion by 2028, exhibiting a growth rate (CAGR) of 4.41% during 2023-2028.
What is FMCG Packaging?
Fast-moving consumer goods (FMCG) packaging refers to the materials and design employed to encase and present products that are frequently purchased, used quickly, and have a relatively low cost. It encompasses both functional and aesthetic elements aimed at attracting consumers, safeguarding product quality, and facilitating efficient distribution. It is available as primary packaging, secondary packaging, and tertiary packaging, which is bulk transportation and storage, safeguarding products during distribution. It involves various aspects to consider during its creation, which encompass visual design, material selection, sustainability, safety, and regulatory compliance. It also encompasses aesthetic elements, which are selected to resonate with the target audience and reflect the identity of the brand. It shields products from external factors, such as moisture, light, and contaminants, ensuring their quality remains intact from manufacturing to consumption. FMCG packaging safeguards products from damage, spoilage, and tampering, ensuring their quality upon purchase. It conveys essential information like ingredients, usage instructions, and nutritional facts, enabling informed consumer choices. It serves as a powerful marketing tool, creating a first impression that influences purchasing decisions. It also fosters recognition, allowing consumers to quickly identify their preferred products amidst a crowded shelf.
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What are the growth prospects and trends in the FMCG Packaging industry?
At present, the increasing demand for sustainable packaging solutions made from recyclable materials to reduce the carbon footprint and prevent landfill accumulation represents one of the crucial factors impelling the growth of the market. Besides this, the rising production of single-serve and portable packaging formats, which are convenient and suitable for packing quick snacks for on-the-go consumption, is supporting the growth of the market. In addition, the growing demand for innovative packaging designs in the e-commerce sector that ensure product safety during transit while enhancing the unboxing experience for online shoppers is offering a favorable market outlook. Apart from this, increasing technological advancements in printing techniques and materials enabling customization and personalization of packaging and allowing brands to establish a more direct connection with consumers are contributing to the growth of the market. Additionally, the rising popularity of smart packaging that integrates technology like quick response (QR) codes and radio frequency identification (RFID) tags and offers additional information and engagement opportunities for consumers is strengthening the growth of the market. Moreover, the increasing awareness about the requirement of using food-safe packaging materials that comply with health and safety standards is propelling the growth of the market. Furthermore, the rising automation of packaging activities in the food and beverage (F&B) sector due to the increasing focus on maintaining hygiene and safety in packaging is bolstering the growth of the market.
Who are the key players operating in the industry?
- Albéa Group
- Amcor plc
- AptarGroup Inc.
- Ball Corporation
- Berry Global Inc.
- Consol Glass (Pty) Ltd
- Crown Holdings Inc.
- DS Smith PLC, Graham Packaging Company
- Sealed Air Corporation
- Sonoco Products Company
- Tetra Pak International S.A.
- Toyo Seikan Group Holdings Ltd.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Packaging Type:
- Flexible Packaging
- Rigid Packaging
Breakup by Material:
Breakup by End Use Industry:
- Food and Beverages
- Cosmetic and Personal Care
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
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