Packaging materials are the materials that are used to provide a protective layer to the products. These layers are divided into primary, secondary, and tertiary; the primary layer is the most critical layer of all. It provides a protective covering to the product to prevent it from spilling and getting contaminated by the external environment. The secondary layer offers a more significant protective covering to the product, thereby enhancing the convenience in handling. Tertiary packaging, or the third level packaging, uses packaging materials to transport the goods in bulk from one place to another.
GROWTH DRIVERS AND CHALLENGES
Growth and expansion of various end-user industries such as healthcare, food and beverages, cosmetics, and the introduction of new products in the market have bolstered the demand for packaging materials. Rising e-commerce shopping due to changing lifestyles is also fuelling the packaging materials market growth. Also, rising disposable income and rising demand for a range of consumer products is the most significant factor determining the packaging materials market growth. The e-commerce industry in the globe has grown exponentially in the last few years. According to the European Commission, 74% of internet users in the European Union shopped online in 2021.
Additionally, as per PostNord AB's report titled 'E-commerce in Europe,' the number of e-commerce consumers in Europe has grown from 286 million in 2019 to 297 million in 2021. Many e-commerce companies such as Tesco and Amazon ensure customers can conveniently shop required commodities online using smartphone e-commerce applications. In the e-commerce value chain, attractive packaging is a crucial strategy for brand owners to differentiate their products. Brand owners are shifting from traditional corrugated boxes to varied packaging options to stand out. The popularity of online shopping is also increasing the use of personalized packaging. Hence, the high preference for online shopping and e-commerce propels the demand for packaging material. However, various plastics used in the packaging materials are not a good option. Ban and various regulations imposed on plastic packaging materials due to environmental concerns will degrade the market growth rate. Additionally, fluctuations in the prices of raw materials will also hinder the market's growth.
REPORT SEGMENTATION AND SCOPE
The "Global Packaging Materials Market Analysis to 2030" is a specialized and in-depth study focusing on global market trends and growth opportunities. The report aims to provide an overview of the global packaging materials market with detailed market segmentation by material, product type, application, and geography. The global packaging materials market has witnessed high growth over the recent past and is expected to continue this trend during the forecast period. The report provides key statistics on the consumption of packaging materials worldwide and their demand in major regions and countries. In addition, the report provides a qualitative assessment of various factors affecting the packaging materials market performance in major regions and countries. The report also includes a comprehensive analysis of the leading players in the packaging materials market and their key strategic developments. Several analyses on the market dynamics are also included to help identify the key driving factors, market trends, and lucrative packaging materials market opportunities that would, in turn, aid in identifying the significant revenue pockets.
Further, ecosystem analysis and Porter's five forces analysis provide a 360-degree view of the global packaging materials market. This helps understand the entire supply chain and various market growth factors.
The global packaging materials market is segmented based on material, product type, and application. Based on material, the packaging materials market is segmented as paper and cardboard, polymer, metal, glass and wood, textile, and others. Based on product type, the market is classified as containers and jars, pouches, bags and wraps, closures and lids, boxes and crates, drums, and others. The packaging materials market is categorized based on application into food and beverage, healthcare, personal care, cosmetics, chemicals, etc.
Based on application, the food and beverage segment accounted for a significant packaging materials market share which can be attributed to its popularity across the globe and wide availability. The rising packaged food demand across all regions is surging the food and beverage industry. Additionally, the rising demand for personal care and cosmetics products indirectly contributes to the growth of packaging materials.
The report provides a detailed overview of the global packaging materials market concerning five major regions: North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America. North America is estimated to account for a significant packaging materials market share globally. Increasing preference for packaged food products, surging e-commerce industry, increase in demand for personal care and cosmetics products, etc., have positively contributed to the market growth in North America. Europe is also expected to witness considerable growth during the forecast period. Asia Pacific is also expected to be an attractive market for packaging materials during the forecast period, owing to the growing end-use industries such as food and beverage, healthcare, personal care, cosmetics, etc.
INDUSTRY DEVELOPMENTS AND FUTURE OPPORTUNITIES
Partnerships, acquisitions, and new product launches were the major strategies the players operating in the global packaging materials market adopted.
In June 2020, Amazon India announced that it would replace all single-use plastic in packaging originating from its more than 50 fulfillment sites nationwide with plastic-free, biodegradable paper.
In April 2020, Greif Inc. acquired a minority position in Centurion Container LLC to grow its North American IBC reconditioning network. This agreement enhances its capacity to offer environmentally friendly packaging solutions.
IMPACT OF COVID/IMPACT OF GEOPOLITICAL SCENARIO/IMPACT OF RECESSION
The covid-19 pandemic led to a decline in the progress of many industries across the globe. The shutdown of manufacturing plants and restricted trade across the globe led to supply chain constraints for manufacturers across the globe. The packaging materials market experienced a slump during the pandemic due to the limited trade of raw materials globally. Many raw materials used for packaging are imported from countries across the globe, leading to limited availability of products. Moreover, various end-use industries, such as food and beverage, healthcare, personal care, cosmetics, chemicals, etc., declined during this period due to the shortage of raw materials and limited labor supply. This negatively affected the packaging materials market. However, the global marketplace is recovering from the losses as governments of different countries have announced relaxation in the restrictions. Manufacturers can operate at total capacity, helping them overcome the supply gap.
Moreover, the rising vaccination rate positively boosts the industry's overall growth. The pandemic led to a change in consumer habits of purchase. During the COVID-19 pandemic, consumers worldwide shifted toward purchasing food & beverages, and pharmaceutical products online. This factor will open lucrative growth opportunities for the packaging materials market over the forecast period.
COMPETITIVE LANDSCAPE AND KEY COMPANIES
Some of the key players operating in the packaging materials market include Amcor plc, Honeywell International Inc., Alcoa Corporation, Bemis Manufacturing Company, Graham Packaging Company., CKS Packaging, Inc., ProAmpac., Mondi, Berry Global Inc., AVERY DENNISON CORPORATION., Bayer AG, Tetra Pak Group, InMat Inc., Avient Corporation, A-ROO COMPANY LLC., FlexPak Services, Amerplast, Ajover S.A.S., Oliver Packaging & Equipment Company, Sealed Air and 3M among others.
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
This text is related
to segments covered.
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
This text is related
to country scope.
The List of Companies
- Bemis Company, Inc.
- Berry Global, Inc.
- Crown Holdings Incorporated
- DS Smith plc
- Graphic Packaging International, Inc.
- Mondi Group
- Owens-Illinois Inc.
- Reynolds Group Holdings
- Sealed Air Corporation
- The International Paper Company
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
Sophorolipid and Rhamnolipid Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Type (Sophorolipid and Rhamnolipid) and Application (Household Detergents, Personal Care, Industrial & Institutional Cleaners, Food Processing, Oilfield Chemicals, Leather Processing, Agriculture, Pharmaceuticals, and Others)
Asia Pacific Sophorolipid and Rhamnolipid Market
Size and Forecasts (2020 - 2030), Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Type (Sophorolipid and Rhamnolipid), Application (Household Detergents, Personal Care, Industrial & Institutional Cleaners, Food Processing, Oilfield Chemicals, Leather Processing, Agriculture, Pharmaceuticals, and Others), and Country
Robotics Lubricants Market
Forecast to 2028 - Global Analysis by Base Oil (Mineral Oil, Synthetic Oil, and Others), Product Type (Hydraulic Oil, Gear Oil, and Grease), and End Use Industry (Automotive, Food and Beverage, Medical and Healthcare, Electrical and Electronics, Metals, and Other Manufacturing Industries)
Chilled Food Packaging Market
Forecast to 2030 - Global Analysis by Material (Plastic, Aluminum, Paper and Paperboard, and Others), Type (Boxes, Tubs and Cups, Cans, Pouches and Bags, and Others), and Application (Dairy Products, Meat and Poultry, Seafood, Fruits and Vegetables, and Others)