Packaging Market to Grow by USD 297.6 Billion by 2029, Boosted by Growth in Food Delivery and Takeaway Services, AI-Powered Market Evolution Report - Technavio

NEW YORK, Feb. 6, 2025 /PRNewswire/ -- Report on how AI is driving market transformation - The global packaging market size is estimated to grow by USD 297.6 billion from 2025-2029, according to Technavio. The market is estimated to grow at a CAGR of  4.6%  during the forecast period. Growth of food delivery and takeaway services is driving market growth, with a trend towards market strategies adopted by vendors. However, high cost of recycling rigid plastic products  poses a challenge. Key market players include Amcor Plc, Ball Corp., Berry Global Inc., Constantia Flexibles Group GmbH, Crown Holdings Inc., Gerresheimer AG, Huhtamaki Oyj, International Paper Co., Mondi Plc, Oji Holdings Corp., Pregis LLC, Sealed Air Corp., Smurfit Kappa Group, Sonoco Products Co., Stora Enso Oyj, Tetra Laval SA, UPM Kymmene Corp., WestRock Co., and Winpak Ltd..

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The packaging market is thriving, with trends like high-barrier films, stand-up retort pouches, metal tins, and glass jars leading the way. Food and beverages, personal care, and department stores are major sectors driving demand. Quality and presentation are key, with eco-friendly packaging gaining popularity. Cost-effective attributes are important, making plastic, paper and paperboard, glass, and metal popular packaging materials. Printing technology, such as flexography and digital, is advancing. Slimline collections, fiber-based egg cartons, and foam packaging are innovative solutions. Advanced film technology, lightweight foam plastics, and corrugated boxes offer protection. Stringent regulations require biodegradable plastics, recycled paper, and compostable packaging. Rigid protective packaging, wrapping, and e-commerce are growing sectors. PaperBox is a leading player, providing sustainable and cost-effective packaging solutions. 

The packaging market is witnessing continuous growth due to the introduction of new products by vendors. For instance, Amcor Plc's launch of AmFiber, a recyclable paper-based packaging platform, in January 2022 for coffee, drink powders, snacks, candy, seasoning, and soups, has set a new trend. In response to the increasing demand for aluminum cans, Ball Corporation expanded its operations in South America with a new manufacturing plant in Peru, announced in June 2022. These developments demonstrate the competitive nature of the global packaging market, as vendors strive to innovate and meet consumer demands. 

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•         The packaging market faces several challenges in various industries, particularly in food and beverages, personal care, and department stores. High-barrier films and stand-up retort pouches require advanced technology for effective packaging. Metal tins and glass jars offer quality presentation but add to cost. Eco-friendly packaging, including biodegradable plastics, recycled paper, and compostable packaging, is a growing trend. Cost-effective attributes are essential for businesses. Packaging materials like plastic, paper and paperboard, glass, and metal offer different benefits. Printing technology, such as flexography and digital, plays a crucial role in creating eye-catching designs. Food and beverage industries use slimline collections, fiber-based egg cartons, and foam packaging for lightweight and protective solutions. Strict regulations call for rigorous testing and certification. E-commerce growth necessitates and protective packaging. Innovations include advanced film technology, lightweight foam plastics, and corrugated boxes. Sustainability remains a priority with biodegradable plastics, compostable packaging, and eco-friendly materials.

•         The packaging market, specifically in rigid plastic products, involves significant investments for recycling due to high procurement costs, energy expenses, and collection and sorting of discarded plastic waste. Recycling processes include collecting, paying customers for scrap, transporting to recycling units, and cleaning, crushing, and melting. For many small and medium-scale manufacturers, producing new rigid plastic products is more cost-effective than recycling. Water consumption is high during cleaning, and additional energy and workforce are required for further recycling steps.

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This packaging market report extensively covers market segmentation by  

• Type
• Board
• Rigid Plastic
• Flexible
• Metal
• Glass
• End-user
• Food
• Beverage
• Healthcare
• Personal Care
• Others
• Geography
• APAC
• North America
• Europe
• Middle East And Africa
• South America

1.1 Board-  Paperboard, a thick paper-based material, is widely used for packaging due to its foldability, rigidity, lightweight, and strength. Different types of paperboards, such as folding boxboard, chipboard, bleached paperboard, craft board, laminate board, and containerboard, cater to various packaging applications. Bleached paperboard, in particular, is popular for medical, cosmetic, frozen food, and candy packaging. The demand for personalized packaging with innovative designs and graphics has fueled the need for paperboard. Folding cartons, for instance, are widely used for personalized packaging. Additionally, the growth in adoption of bag-in-box packaging solutions for lubricants and beer will further boost paperboard demand. Recycled paperboard is commonly used but poses health risks due to mineral oil contamination. Price fluctuations of paper pulp, the major raw material, impact manufacturing costs and profitability. Specialized paperboard containers, which are lightweight, cost-effective, and visually appealing, cater to specific packaging needs. These containers shield fragile products, enable shelf balance, and attract buyers with appealing designs. WestRock Co. Offers specialized folding boxes for paper and paperboard containers, featuring high-impact graphics and innovative container features. The demand for paperboard containers is expected to rise due to their benefits.

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The packaging market encompasses a wide range of products and industries, including food and beverages, personal care, department stores, and more. High-barrier films, stand-up retort pouches, metal tins, and glass jars are popular choices for preserving and protecting various goods. Quality and presentation are key considerations, with advanced film technology, lightweight foam plastics, and corrugated boxes offering innovative solutions. Sustainability is a growing concern, with fiber-based egg cartons, foam packaging made from renewable resources, biodegradable plastics, recycled paper, and compostable packaging gaining traction. Stringent regulations ensure safety and compliance, while rigid protective packaging and wrapping provide essential protection during transportation.

The packaging market encompasses a wide range of products and materials used to protect, preserve, and promote various consumer goods. Key product categories include food and beverages, personal care, and department stores. High-barrier films, stand-up retort pouches, metal tins, and glass jars are popular packaging solutions for these industries. Quality and presentation are essential factors, with eco-friendly packaging gaining popularity due to its cost-effective attributes and reduced environmental impact. Packaging material options include plastic, paper and paperboard, and glass, with advancements in printing technology such as flexography and digital methods enhancing visual appeal. Innovations like slimline collections, fiber-based egg cartons, foam packaging, and advanced film technology offer lightweight and protective solutions. Stringent regulations drive the use of biodegradable plastics, recycled paper, and compostable packaging. Rigid protective packaging, wrapping, and e-commerce packaging are also crucial segments of the market. PaperBox is an example of a company specializing in paper-based packaging solutions.

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Type
• Board
• Rigid Plastic
• Flexible
• Metal
• Glass
• End-user
• Food
• Beverage
• Healthcare
• Personal Care
• Others
• Geography
• APAC
• North America
• Europe
• Middle East And Africa
• South America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

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SOURCE Technavio