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Packaging Materials Market Size

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

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Packaging Materials Market Size

Packaging Materials Market was valued at USD 1.33 trillion in 2023 and is anticipated to register a CAGR of over 4.9% between 2024 and 2032. The surging growth of e-commerce has fueled the demand for protective and efficient packaging solutions to ensure safe product delivery.

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Unique packaging designs can enhance brand differentiation and consumer engagement. Custom-printed packaging found to increase brand recognition by 89% and purchase intent by 33%. Additionally, advancements in packaging technology like tamper-proof seals and active packaging enhance food safety. These factors are driving the growth of packaging material market. On the other hand, concerns about waste generation, plastic pollution, and the carbon footprint of packaging materials pose challenges for sustainable alternatives to gain widespread adoption. According to word bank, global plastic waste generation estimated at 353 million tonnes per year, with only 9% recycled. This may restrict the growth of the market.

Packaging Materials Market Report Attributes
Report Attribute	Details
Base Year:	2023
Packaging Materials Market Size in 2023:	USD 1.33 trillion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	4.9%
2032 Value Projection:	USD 2.06 trillion
Historical Data for:	2018 – 2023
No. of Pages:	300
Tables, Charts & Figures:	188
Segments covered:	Material, Product, End-Use
Growth Drivers:	E-commerce Boom Increased Focus on Food Safety Advancements in packaging technology
Pitfalls & Challenges:	Sustainability Challenges

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Packaging materials safeguard products from damage during transportation, handling, and storage. They shield items from impacts, compression, temperature variations, and other environmental factors. Materials with specific barrier properties, such as moisture resistance, oxygen and light barriers, protect products from degradation, spoilage, or contamination. Thus, growing demand of food safety is boosting the growth of packaging material across the globe.

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.