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The FMCG packaging market is anticipated to expand its roots at an average CAGR of 5.8% between 2023 and 2033. The market is expected to have a market share of US$ 778.7 billion by 2033 while it is likely to be valued at US$ 443.1 billion in 2023.
As one of the largest consumer markets in the world, Europe’s FMCG sector relies heavily on efficient and attractive packaging to meet the diverse needs of consumers. This market encompasses a wide range of products, including food and beverages, personal care items, household goods, and more, and packaging plays a pivotal role in brand recognition, product protection, and sustainability. The industry has witnessed a growing focus on eco-friendly and sustainable packaging solutions to align with the increasing environmental awareness among consumers. As a result, there has been a shift towards reducing single-use plastics and adopting recyclable and biodegradable materials. Additionally, e-commerce and changing consumer behaviors have driven the need for innovative packaging solutions that are not only functional but also convenient for home delivery. Amid these shifts, there’s a continued emphasis on aesthetics, with eye-catching designs and branding being key components to engage consumers in a crowded marketplace. In summary, the FMCG packaging market in Europe is evolving to meet the demands of sustainability, convenience, and branding, offering opportunities for innovation and growth for businesses operating in this space.
The restoration of the FMCG industry, rising awareness among end users around climate change, and high-end research and development facilities are fueling the market growth. Furthermore, the higher adoption of intelligent packaging in brands is also flourishing the market growth.
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The expansion of e-commerce platforms, increased focus on sustainable packaging, and rising per capita incomes are positively impacting FMCG packaging. Alongside this, the increasing penetration of online food delivery platforms is also garnering market growth.
The increased focus on hygiene and cleanliness post-pandemic has pushed FMCG vendors to adopt multi-layer packaging solutions. The increased government efforts to transition the packaging sector and limit the carbon footprint is expected to propel the market’s growth trajectory.
The recycled and renewable packaging solutions along with the higher sales of non-alcoholic and dairy products are likely to fuel the market. Furthermore, the usage of insulated layers in FMCG packaging is anticipated to transform the market during the forecast period.
Key Points:
The United States market leads the FMCG packaging market in terms of market share in North America. The United States region held a market share of 18.9% in 2022. The growth in this region is owing to the restored FMCG product line, and higher consumption of ready-to-eat food items. The North American region held a share of 28.5% in 2022.
Germany’s FMCG packaging market is another significant market in the European region. The market held a market share of 7.1% in 2022. The growth is attributed to higher government efforts and increased support for sustainable business ideas and adoption. Europe held a market share of 24.3% in 2022.
The Indian FMCG packaging market thrives at a leading CAGR of 7.4% during the forecast period. The market’s growth is attributed to the expansion of sustainable businesses, and proliferating e-commerce penetration.
Chinese FMCG packaging market also thrives at a CAGR of 6.0% between 2023 and 2033. The growth is attributed to the large FMCG consumer base and higher imports.
Based on product type, the rigid packaging segment held the leading market share of 63.9% in 2022. The growth is attributed to the increased strength, durability, and recycling capabilities.
Based on end use, food, and beverages consumed most of the market as it held a leading market share of 56.2% in 2022.
Leading Key Players:
The FMCG packaging market is dominated by key players such as Berry Global Inc., Crown Holdings, and WestRock Company, which are known for their innovative and sustainable packaging solutions. Sealed Air Corporation and Sonoco Products Company excel in flexible packaging and protective solutions. Ball Corporation and Ardagh Group S.A. are leaders in metal packaging, while Kimberly-Clark Corporation focuses on hygiene product packaging. Mondi Plc and Huhtamaki Oyj are recognized for their paper and fiber-based packaging expertise, contributing to the market's diverse and dynamic landscape.
Recent Market Developments:
Sonoco Products Company has introduced material expertise and sustainable flexible packaging solutions. Some of the common packaging types that the company offers include flexible packaging, rigid paper containers, rigid plastic, and blister packaging.
Ball Corporation has introduced the total advertising and packaging package for the end-user companies of different levels.
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