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Packaging Materials Market Share

Report ID: GMI2482
Published Date: Jan 2024
Report Format: PDF

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Packaging Materials Market Share

Global market for packaging materials is highly fragmented owing to the presence of several market players. Major companies operating in the market are Amcor, Ball Corporation, Crown Holding, accounting over 33% market share in the year 2023. The major market players are focusing on mergers & acquisitions, facility expansion, and strategic partnerships to expand their product offerings, customer reach, and enhance market presence. Companies are also focusing on acquisition strategy.

These companies often have a wide-ranging portfolio of packaging solutions, including plastics, flexible packaging, and protective materials. Leading companies invest significantly in research and development to drive innovation in packaging materials. This includes the development of advanced materials, intelligent packaging solutions, and sustainable alternatives to meet evolving industry demands.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Global market size for packaging materials was valued at USD 1.33 trillion in 2023 and is anticipated to register a CAGR of over 4.9% between 2024 and 2032, driven by the surging growth of e-commerce.

Bags, pouches, & wraps accounted for over 35% market share in 2023 and is projected to grow through 2032, driven by consumer preferences as they offer high levels of convenience and portability, along with lightweight and flexibility.

The U.S. packaging materials industry generated a revenue of over USD 267.94 billion in 2022 and is expected to grow substantially through 2032, driven by the rapid growth of e-commerce in the U.S. that is pushing the demand for sturdy, protective, and efficient packaging materials.

Amcor, Ball Corporation, Crown Holding, International Paper Company, Owens-Illinois, Reynolds Group, Sealed Air, Stora Enso are some of the major industry contenders.