The research scope encompasses the market demand for packaging material, which are used for manufacturing numerous packaging goods that are falling under the umbrella of flexible and rigid packaging. Key packaging material type categories include plastic, paper & cardboard, metal, glass, wood, and textile. These materials are incorporated for the production of packaging products, which are used to enclose, protect, and find products for storage, distribution, sale, and end-use. Each of the aforementioned packaging material type categories and their respective sub-segments are utilized in verticals namely, food & beverage, personal care & cosmetics, medical, electrical & electronics, homecare, chemicals, industrial packaging, and agriculture.
Data Bridge Market Research analyzes that the Global Packaging Materials Market is expected to reach USD 1,060.40 billion by 2031 from USD 814.46 billion in 2023, growing with a CAGR of 3.43% in the forecast period from 2024 to 2031.
Key Findings of the Study
- Rapid Expansion of E-Commerce Industry
The rapid expansion of the e-commerce industry has catalyzed a significant surge in the demand for packaging products and solutions, reshaping the landscape of the packaging industry in profound ways. This transformation is driven by several interrelated factors, such as the proliferation of online shopping platforms has led to an exponential increase in the volume of goods being shipped and delivered directly to consumers' doorsteps. With consumers embracing the convenience and accessibility of online shopping, there is a heightened need for robust and efficient packaging solutions that can withstand the rigors of transportation while safeguarding products against damage and tampering.
In conclusion, the rapid expansion of the e-commerce industry has become a driving force behind the growing demand for packaging materials, fueling innovation, sustainability, and efficiency across the packaging supply chain. As e-commerce continues to reshape the retail landscape, packaging material manufacturers and suppliers must remain agile and responsive to the evolving demands of this dynamic and rapidly growing market.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024-2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Billion, Volume in Kilo Tons
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Segments Covered
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Material Type (Plastic, Paper & Cardboard, Metal, Glass, Wood, Textile, and Others.), Product (Corrugated Boxes, Bottles & Cans, Containers & Jars, Bags, Pouches & Wraps, Films, Boxes & Crates, Flexible Pouches, Blister Packaging, Clamshells, Shrink Film Tubing, Closures & Lids, Strapping, Polybags, Drums & IBC, Roll Bags, Carded Packaging, Shrink Bands, and Others), Material Form (Flexible and Rigid), Packaging Type (Primary Packaging, Secondary Packaging, and Tertiary Packaging), End-Use (Food & Beverage, Personal Care & Cosmetics, Medical, Electrical & Electronics, Homecare, Chemicals, Industrial Packaging, Agriculture, and Others)
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Countries Covered
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U.S., Canada, Mexico, Germany, France, U.K., Italy, Russia, Spain, Sweden, Finland, Netherlands, Switzerland, Poland, Belgium, Turkey, Norway, Denmark, Rest of Europe, China, Japan, India, South Korea, Indonesia, Thailand, Malaysia, Philippines, Singapore, Australia, New Zealand, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, Saudi Arabia, South Africa, U.A.E., Egypt, Israel, Rest of Middle East and Africa
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Market Players Covered
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Exxon Mobil Corporation (U.S.), Amcor plc (Australia), Novelis (U.S.), INEOS (U.K.), Dow (U.S.), Smurfit Kappa (Ireland), Stora Enso (Finland), SABIC (Saudi Arabia), International Paper (U.S.), WestRock Company (U.S.), DS Smith (U.S.), Braskem (Brazil), Tata Steel (India), NIPPON STEEL CORPORATION (Japan), LyondellBasell Industries Holdings B.V. (U.K.), ArcelorMittal (U.S.), UPM (Finland), Chevron Phillips Chemical Company LLC (U.S.), Oji Holdings Corporation (Japan), Mondi (U.K.), Sappi (Belgium), NIPPON PAPER INDUSTRIES CO., LTD. (Japan), Domtar Corporation (U.S.), Formosa Plastics Corporation, U.S.A. (U.S.), and ProAmpac (U.S.) among others
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand
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Segment Analysis
The global packaging materials market is segmented into five notable segments based on material type, product, material form, packaging type and end user.
- On the basis of material type, the market is segmented into plastic, paper & cardboard, metal, glass, wood, textile, and others
In 2024, the plastic segment is expected to dominate the Global Packaging Materials Market
In 2024, the plastic segment is expected to dominate the market with a market share of 36.32% due to growing demand for sustainable packaging solutions
- On the basis of product, the market is segmented into corrugated boxes, bottles & cans, containers & jars, bags, pouches & wraps, films, boxes & crates, flexible pouches, blister packaging, clamshells, shrink film tubing, closures & lids, strapping, polybags, drums & IBC, roll bags, carded packaging, shrink bands, and others
In 2024, the corrugated boxes segment is expected to dominate the Global Packaging Materials Market
In 2024, the corrugated boxes segment is expected to dominate the market with a 13.41% market share due to growing demand in different end user industries.
- On the basis of material form, the market is segmented into flexible and rigid. In 2024, the flexible segment is expected to dominate the market with a 53.81% market share
- On the basis of packaging type, the market is segmented into primary packaging, secondary packaging, and tertiary packaging. In 2024, the primary packaging segment is expected to dominate the market with a 73.09% market share
- On the basis of end-use, the market is segmented into food & beverage, personal care & cosmetics, medical, electrical & electronics, homecare, chemicals, industrial packaging, agriculture, and others. In 2024, the food & beverage segment is expected to dominate the market with a 32.00% market share
Major Players
Data Bridge Market Research analyzes Exxon Mobil Corporation (U.S.), Amcor plc (Switzerland), Novelis (U.S.), INEOS (U.K.), Dow (U.S.) as the major players in the global packaging materials market.
Market Developments
- In April 2024, International Paper Company and DS Smith are pleased to announce an all-share combination agreement. This merger combines complementary businesses, creating a global leader in sustainable packaging with strong positions in Europe and North America. The focus on sustainable solutions will serve a wide range of growing markets
- In March 2024, Amcor, a global leader in developing and producing responsible packaging solutions, is the proud recipient of eight Flexible Packaging Achievement Awards for innovative and sustainable contributions to the industry. The awards were presented at a ceremony last night during the 2024 Flexible Packaging Association (FPA) annual meeting in Tucson, Arizona
- In August 2022, LyondellBasell Industries Holdings B.V. partnered with Röchling Medical, a leading producer of secure medication packaging, to advance the circular economy. Together, they have introduced eye drop containers crafted by Röchling Medical using LyondellBasell's CirculenRenew polymers
- In May 2024, Chevron Phillips Chemical was honored with the Quality Award for customer loyalty and satisfaction in a national survey of polyethylene customers, competing against 10 major plastics companies. Additionally, Mastio & Company ranked CPChem as the top HDPE Supplier Overall based on interviews with 176 customers. This acknowledgment underscores CPChem's commitment to excellence in providing High-Density Polyethylene (HDPE), a versatile polymer used in various durable products and packaging solutions
- In March 2024, Shell Chemicals and Braskem have introduced certified bio-attributed and bio-circular propylene and polypropylene to the U.S. market. This development supports the growing consumer demand for more sustainable plastics. Braskem will utilize these feedstocks to produce bio-attributed and bio-circular polypropylene, offering more sustainable options for the packaging, film, automotive, and consumer goods markets
Regional Analysis
Geographically, the countries covered in the U.S., Canada, Mexico, Germany, France, U.K., Italy, Russia, Spain, Sweden, Finland, Netherlands, Switzerland, Poland, Belgium, Turkey, Norway, Denmark, rest of Europe, China, Japan, India, South Korea, Indonesia, Thailand, Malaysia, Philippines, Singapore, Australia, New Zealand, rest of Asia-Pacific, Brazil, Argentina, rest of South America, Saudi Arabia, South Africa, U.A.E., Egypt, Israel, and rest of Middle East and Africa.
As per Data Bridge Market Research analysis:
Asia-Pacific is the dominant and fastest growing region in the Global Packaging Materials Market
Asia-Pacific is expected to dominate the global packaging materials market due to its rapid economic growth, burgeoning population, and increasing urbanization. This region, home to some of the world's fastest-growing economies like China and India, has seen a significant rise in disposable incomes and changing consumer lifestyles, leading to higher demand for packaged goods.
For more detailed information about the global packaging materials market report, click here – https://www.databridgemarketresearch.com/reports/global-packaging-materials-market
