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Packaging Materials Market Trends

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

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Packaging Materials Market Trends

Packaging material trends are influenced by a combination of consumer preferences, industry needs, technological advancements, and sustainability considerations. One notable trend is the increasing focus on sustainable and eco-friendly packaging solutions. Consumers are becoming more environmentally conscious, leading to a growing demand for materials that reduce environmental impact. Examples of this trend include the rise of biodegradable plastics, compostable packaging, and the utilization of recycled materials in packaging production.

Additionally, there is a significant push towards minimalist and functional design in packaging. Brands are adopting packaging materials that prioritize simplicity, ease of use, and reduced waste. This trend aligns with the growing popularity of eco-conscious brands that emphasize a commitment to sustainability throughout their entire product life cycle.

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.