Packaging Supplies Market Size, Share & Growth Report | 2030

Report Description

The global packaging supplies market size was valued at around USD 248 billion in 2021 and is estimated to reach around USD 300.5 billion by 2030, expanding at a 4.5% CAGR during the forecast period, 2022 – 2030. The growth of the market is attributed to the rising population and the gradually changing lifestyle. 

Get Free Sample Report

Packaging supplies include bags, cartons, containers, sacks, boxes, wraps, fillers, cones, cores, and bags, which are used for packaging tangible products. Packaging materials reduce the risk of any kind of damage or loss while delivering or shipping the products. Nowadays, multifaceted methods for packaging are implemented as per the requirements, from primary packaging to secondary and tertiary packaging. Manufacturers use various materials for packaging such as metals, plastic, glass, and paper. Packaging plays a crucial role and entails dangers when it comes to electronic packaging, pharmaceutical packaging, and food packaging. Closures and lids are used to seal and cover other packaging products including bottles, cans, and containers. However, rigid plastic is frequently utilized material in packaging other than wood, glass, and paper-based closures and lids. Packaging supplies include wrapping or containers that hold several items together, which offers a stable platform for transport. This packaging supply gives protection from climatic conditions including humidity, temperature, solar radiation, and precipitation. Packaging supplies are used in several industries including transportation, assembly line, supply chain, warehouse, and order picking to withstand different static and dynamic forces.

COVID-19 Impact

The packaging supplies market is affected due to the outbreak of coronavirus. It impeded supply chains and distribution channels, as various governments around the globe implemented lockdowns and bans on logistics. However, it propelled some industries, especially healthcare and diagnostics. Visits to stores and pharmacies were reduced during the pandemic; however, sales through e-commerce websites increased, thus keeping the market stable. People have been using e-commerce sites frequently while at home to place orders for new goods, which is a reflection of the expansion of the packaging sector. Moreover, plastic packaging manufacturers have been hit by the shutdown in China in the first quarter of 2020, and China is one of the major producers of plastic with more than 30% of the global market share. Chinese manufacturers faced a shortage in the supply of plastic, due to the demand-supply gap. 

Market Dynamics

The report presents a complete market overview, and market dynamics by focusing on the current market trends, existing drivers, growth opportunities, and emerging challenges that shape the outcome or overall performance of the market during the forecast period, 2022 to 2030.

Get Free Sample Report

Major Drivers: Rising food & beverages industry and increasing demand for convenience food

The research report finds that the rising food & beverages industry and increasing demand for convenience food are expected to drive market growth. The growing adoption of advanced packaging supplies offers easy shipping and the launch of novel packaging options for the food and beverages industry. The high demand for convenience food increases the demand for advanced food packaging, thus supporting the growth of this market. Convenience food items include frozen food, snacks, candy, and beverages. Convenience food items are preferred owing to their long shelf life, easy portability, and ready-to-eat functionality. The increasing demand for ready-to-eat snacks due to the changing lifestyle is anticipated to propel growth in the convenience food market. Convenience food is served hot in ready-to-eat containers and requires less preparation time. There has been a rising use of green packaging to attain sustainability. Environmentally friendly packaging reduces plastic use and increases the recycling of the material.

Current Restraints: Government regulations regarding deforestation and the environmental effects of plastic

Packaging supplies serve as a medium for safety and accomplish the secure shipment packaging for e-commerce, food & beverages, dressing & condiments, and others. However, packaging laws and regulations have been introduced by the government to safeguard the interest of the consumer. The rising plastic pollution is a global concern, therefore government spreading awareness regarding biodegradable, carbon-free, and eco-friendly packaging solutions. Many solutions are being explored with dedicated work streams underway. In December 2017, at the third session of the United Nations Environmental Assembly (UNEA), countries joined together to pass a resolution on microplastics and marine litter. 

Market Opportunities: Increasing advancements and innovations in packaging

Packaging plays a vital role in branding and advertising the product. Plastic packages are useful in achieving innovative product solutions. These packaging solutions help increase market availability, consumer education, inventory control, improve shelf life, and even ensure the quality of the product. Innovations are easily made in plastic packaging. This innovation includes a varied range of packaging options including active packaging, nanocomposites, intelligent packaging, and different types of packaging design. Nanotechnology is a widely used technology and it is implemented to minimize spoilage, repair the tears in packaging, increase food shelf life, ensure food safety, reduce the food shortage problem, and improve consumer health. Improved food packaging is developed by using organic, inorganic, and combined nanoparticles. These nanoparticles provide improved antimicrobial and physical properties.

Scope of the Report

The report packaging supplies market on the market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Market Segment Insights

Flexible packaging segment to expand at a considerable CAGR

On the basis of types, the packaging supplies market is divided into rigid, semi-rigid, and flexible.

The flexible packaging segment is expected to expand at a considerable CAGR during the forecast period, owing to innovative solutions and rising technological advancements for product packaging needs. Flexible packaging is eco-friendly packaging, as its manufacturing process produces less greenhouse gas emissions. Flexible packaging utilizes less material and less energy than rigid containers when creating packaging items. The market revenue is projected to accelerate due to the increasing demand for packaging to ensure nutrient and flavor fortification. The rigid segment is anticipated to hold a key share of the market in the coming years, due to its superior strength to protect fragile food products. Rigid packaging is widely used in fruits, vegetables, and other easily crushable food products. Rigid packaging is also utilized for bread, sausages, and other snacks mainly in India, China, Germany, and the U.K. The change in consumer lifestyle and the growing number of food retail outlets with innovative product launches is anticipated to boost the market growth. Moreover, strict government laws and rising consumer awareness about food safety and hygiene are expected to propel market growth.  

Get Free Sample Report

Rigid plastic materials segment holds a significant share of the market

Based on material, the packaging supplies market is segmented into rigid plastic packaging, metal paper, cardboard, fiberboard, and others. The rigid plastic materials segment is expected to hold a significant share of the market, owing to its use in packaging processed food products, cosmetics, pharmaceuticals, household products, and others. The increasing demand for rigid plastics is due to polyethylene terephthalate (PET), high-density polyethylene (HDPE), and polyvinyl chloride (PVC) bottles for packaging drinking water, soft drinks, juices, and others. Plastic resins are recyclable and used in innovative food packaging. For instance, modified atmosphere packaging (MAP) conserves food freshness and increases the shelf life of the product. The metal segment is projected to expand at an exponential pace, due to its superior properties and low cost. Metal cans are widely used for packaging beer and other beverages such as energy drinks, and soft drinks. Aluminum, tin, and steel are extensively used in metal packing materials. However, glass is usually used for packaging and storage of food products. glass is GRAS-certified by the US FDA as it is 100% recyclable and washable material. The demand for glass packaging is rising for food products including dairy products and milk, owing to its non-reactive characteristics.

Cosmetic segment register considerable market share

In terms of end-users, the market is segregated into food, beverage, healthcare, cosmetics, household products, personal care, and others. The cosmetic segment is anticipated to register a considerable market share, as these products can perish easily if the packing is not air-tight and protected from sunlight. Moreover, the household products segment is projected to hold a significant share of the market, due to the increasing demand for household detergents, cleaners, and other sanitary items. The food segment is valued at more than USD 300 billion in 2016, owing to increasing packaged food demand across all regions of the world. The increasing popularity of frozen and raw meat products, seafood, and dairy products.

Get Free Sample Report

North America is expected to dominate the market

In terms of regions, the global packaging supplies market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market during the projected period, as people in the region prefer ordering food from home or takeaways, thus driving the market in the region. North America was valued above 500 million during the forecast period.  Additionally, increasing consumer preference for the consumption of processed and ready-to-eat food is propelling the market in the region. The rising high volume of international trade and exports from the US to other countries is boosting the packaging supplies market in the country. The market of Europe is anticipated to expand at a rapid pace during the forecast period, owing to high consumer preferences for food, beverages, and household products in the region. Russia, Germany, France, and the UK hold a key share of the market in Europe. Europe accounted for more than 20% of the overall packing materials market in 2016. Eastern European countries are expected to have a smaller market share than other industrialized country in the area, but their growth rates will be higher because of their larger market penetration. 

Get Free Sample Report