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Vendor Insights
The global packaging market is fragmented in nature due to the presence of several global and regional players.
The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their products. Some vendors are also adopting inorganic growth strategies such as M&As to remain competitive in the market.
For Instance, In January 2021, Amcor Plc -company appointed Susan Carter to the Board of Directors. Awards and recognitions and In February 2021, the company was recognized for leading the way on sustainability and was included in the S&P SAM yearbook 2021.
To understand more about additional vendors with various other strategies and their product offering Read a Sample market research report.
Geographical Market Analysis
APAC will provide maximum growth opportunities in the global packaging market during the forecast period. According to our research report, the region currently holds 41% of the global market share and is expected to dominate the market through 2025.
In addition, countries such as the US, China, UK, India, and Canada are expected to emerge as prominent markets for packaging during the forecast period.
Know more about this market's geographical distribution along with the detailed analysis of the top regions - https://www.technavio.com/report/packaging-market-industry-analysis
Key Market Trends & Challenges
The continuous development of new products is supporting the packaging market share growth. Product developments by some vendors will encourage other vendors to introduce innovative products to remain competitive in the market. Amcor launched AmLite Ultra Recyclable, a packaging product made from high-barrier polyolefin film which can be used for a range of food, home, and personal care, and pharmaceutical products while also being recyclable in existing polyolefin recycling streams. Amcor also launched Genesis, an all-polyethylene laminate, which has clarity, gloss, and stiffness similar to polypropylene laminates. This packaging can be used for fresh produce, frozen food, dried fruits, nuts, confectionery, chilled goods, and pet food.
The high manufacturing cost for packaging is a major challenge for the packaging market. Paper pulp is the major raw material used in the manufacturing of packaging and is widely used for producing corrugated boxes, cardboard boxes, folding cartons, and paper bags, among another packaging. There has been a surge in the cost of transportation, owing to the rising fuel prices in many countries have, which, in turn, is increasing in the price of paper. Paper and paper products are shipped across the world, and as fuel and freight prices rise, so would paper prices. Raw material suppliers are forced to pass on these costs to end-users by raising the prices. The resultant increase in prices negatively affects market growth.
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Related Reports -
Glass Packaging Market -The glass packaging market share in America is expected to increase by USD 4.43 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 3.77%. Download a free sample now!
Healthcare Packaging Market -The healthcare packaging market has the potential to grow by USD 44.00 billion during 2021-2025, and the market's growth momentum will decelerate at a CAGR of 6.49%. Download a free sample now!
Packaging Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of almost 4% |
Market growth 2021-2025 |
$ 170.61 billion |
Market structure |
Fragmented |
YoY growth (%) |
3.42 |
Regional analysis |
APAC, North America, Europe, MEA, and South America |
Performing market contribution |
APAC at 41% |
Key consumer countries |
US, China, UK, India, and Canada |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Amcor Plc, Ball Corp., Berry Global Group Inc., CCL Industries Inc., DS Smith Plc, DuPont de Nemours Inc., Mondi Group, Smurfit Kappa Group Plc, Sonoco Products Co., and WestRock Co. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period. |
Customization preview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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