How Big is The FMCG Packaging Market?
IMARC Group, a leading market research company, has recently releases report titled “FMCG Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028 ” 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?
FMCG (Fast-Moving Consumer Goods) packaging refers to the packaging solutions specifically designed for products that have a quick turnover and are consumed on a daily basis. FMCG products include a wide range of items such as food and beverages, personal care products, household cleaning agents, and other everyday consumer goods. FMCG packaging plays a vital role in preserving product freshness, ensuring safety, enhancing brand visibility, and providing convenience to consumers. It encompasses various packaging formats such as bottles, cans, pouches, cartons, and sachets, depending on the nature and requirements of the product. FMCG packaging not only serves as a protective barrier but also serves as a marketing tool, communicating brand messaging and attracting consumer attention on store shelves.
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What are the growth prospects and trends in the FMCG Packaging industry?
The rising global population, urbanization, and changing consumer lifestyles are fueling the demand for FMCG products, thereby driving the packaging market. The need for convenience, time-saving, and on-the-go consumption options are increasing, leading to a higher demand for portable and easily accessible packaging solutions. Moreover, the growing awareness among consumers regarding product safety, hygiene, and sustainability is influencing the FMCG packaging market. Consumers are seeking packaging materials that are eco-friendly, recyclable, and provide effective product protection.
Additionally, the increasing competition among FMCG brands is driving packaging innovations. Manufacturers are focusing on unique and visually appealing packaging designs that differentiate their products on the shelves and attract consumer attention. Furthermore, the rise of e-commerce and online retail platforms is reshaping the FMCG packaging market. Packaging solutions need to be durable, secure, and adaptable to withstand the challenges of shipping and handling during online deliveries. Lastly, the integration of smart and interactive packaging technologies is an emerging trend in the FMCG packaging market. Brands are leveraging technologies such as QR codes, augmented reality, and near-field communication (NFC) to enhance consumer engagement, provide product information, and enable personalized experiences.
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:
- Paper
- Plastic
- Metal
- Glass
- Others
Breakup by End Use Industry:
- Food and Beverages
- Cosmetic and Personal Care
- Others
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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