Consumer Packaging Market to Signify Strong Growth by 2023-2030

Consumer packaging market is anticipated to grow at a CAGR of 5.1% during the forecast period. Rising inclination towards sustainable packaging is contributing to the increasing innovations in the consumer packaging sector. Diageo plc, Unilever plc, Nestlé S.A., and the Coca Cola Co. are some major food and beverage and personal care companies that are replacing their product packaging with 100% recyclable packaging. For instance, in May 2020, Nestlé Waters launched its first 100% recycled plastic water bottle to reinforce its commitment to sustainability in Spain. The new 1-liter water bottle of Nestlé Aquarel has three attractive designs that include messages to encourage people for recycling.

Additionally, as per the Office for National Statistics (ONS), total e-commerce sales in the UK were $877.5 billion in 2018, increased from $786.9 billion in 2017. Emerging nations have also witnessed potential demand for online retailing of food products, clothing and accessories, and personal care products. Efficient packaging design for online products can offer new marketing opportunities that can contribute to enhancing brand value. With the increasing demand for sustainable packaging, e-commerce companies have shifted their focus towards highly sustainable and recyclable solutions. For instance, in September 2019, Amazon India declared its commitment to remove single-use plastic from its packaging by June 2020. 

Under the initiative, the company will introduce paper cushions, which will replace plastic dunnage such as bubble wraps and air pillows at its full-fillment centres in India. Paper cushions will be utilized to fill the void space inside packages which ensure that the product is well protected during transit. This environment-friendly and fully recyclable packaging solution has already been launched in selected full-fillment centres (FC) and will be expanded across all Amazon FCs across the country by the end of the year. Amazon ensured that its packaging material in the form of paper cushions and corrugate boxes consists of as high as 100% recycled content and is also completely recyclable. 

The company is extremely focusing on the development of plastic-free alternatives for bubble bags, packaging mailers, and stretch wrap and tape utilized in the packaging that enables the company to remove all forms of plastic used in its packaging. The company has pledged to collect plastic, equivalent to all of the plastic packaging material used by the Amazon Fulfilment network in the country from September 2019. This is an extension of the initiative which has been underway in the State of Maharashtra for a year. The emerging trend towards eco-friendly packaging will boost the demand for more innovative packaging solutions in the e-commerce sector. This, in turn, is expected to offer potential opportunities for market growth.

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Market Coverage

·        The market number available for 2023-2030

·        Base year- 2023

·        Forecast period- 2024-2031

·        Segment Covered- By Material and End-User

·        Regions Covered- North America, Europe, Asia-Pacific, and Rest of the World. 

·        Competitive Landscape- Anheuser-Busch InBev, Heineken N.V., FIFCO USA, The Boston Beer Co., and Kirin Holdings Co., Ltd.

Consumer Packaging Market-Segmentation

By Material

• Plastic
• Paper
• Glass
• Metal

By End-User

• Food 
• Beverage
• Healthcare
• Personal Care and Cosmetics
• Household Goods

A full Report of Consumer Packaging Market is Available @  https://www.omrglobal.com/industry-reports/consumer-packaging-market

 Consumer Packaging Market– Segment by Region

North America

·        United States

·        Canada

Europe

·        UK

·        Germany

·        Spain

·        France

·        Italy

·        Rest of Europe

Asia-Pacific

·                  India

·                  China

·                  Japan

·                  South Korea

·                  Rest of APAC

Rest of the World

·        Latin America

·        The Middle East and Africa

Company Profiles

• Ahlstrom-Munksjö Oyj
• Alpha Packaging
• Amcor plc
• Ball Corp.
• Berry Global Group, Inc.
• Cardinal Health, Inc. 
• Coveris Holdings S.A.
• Crown Holdings, Inc.
• DS Smith Plc
• Gerresheimer AG
• Graham Packaging Co.
• Huhtamäki Oyj
• Interflex Group
• LLFlex, LLC
• O-I Glass, Inc.
• Plastipak Holdings, Inc.
• Reynolds Group Holdings, Ltd.
• Sealed Air Corp.
• Stanpac
• Takemoto Packaging, Inc.
• Tetra Pak International S.A.
• West Pharmaceutical Services, Inc.
• Zhenghao Plastic & Mold Co., Ltd.

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