Packaging Market Size to Be Valued at USD 1,452.86 Billion by 2032 | Packaging Industry to Record CAGR of 3.78%

List of Key Companies Profiled In The Report- Amcor Plc, Mondi Group, Berry Global, Smurfit Kappa, Ball Corporation, International Paper, Tetra Pak, and Others.

NJ, UNITED STATES, April 23, 2025 /EINPresswire.com/ -- The global packaging market size was valued at USD 1,052.96 billion in 2023 and is expected to be worth USD 1,080.13 billion in 2024. The market is projected to reach USD 1,452.86 billion by 2032, recording a CAGR of 3.78% during the forecast period.

In 2023, the Asia Pacific region led the global packaging market, accounting for a 38.06% share. Meanwhile, the packaging industry in the U.S. is poised for significant growth, with projections estimating it will reach USD 355.24 billion by 2032. This growth is fueled by innovations in packaging materials, rising sustainability initiatives, and the expanding e-commerce sector.

The global packaging market encompasses a variety of products and materials engineered for safeguarding, holding, and maintaining goods throughout storage, transport, and retail. The rise of innovative technologies, such as intelligent industrial packaging equipped with RFID tags, enhances product tracking and traceability, thereby fueling market expansion.

Fortune Business Insights™ displays this information in a report titled, “Packaging Market, 2024-2032."

Tariff Impact Analysis for Packaging Market:- https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/packaging-market-110901

Segmentation Analysis:
Plastic Segment Holds Dominating Position in Global Market Due to its Maintain Quality, Flavor, and Nutritional Value of Food

Based on material, the market is segmented into plastic, paper & paperboard, metal, glass, wood, and others. The plastic segment holds the dominating position in the global market. This growth can be attributed to plastic's resistance properties, which assist in maintaining the quality, flavor, and nutritional value of food, thereby minimizing food wastage and ensuring consumer safety.

Flexible Packaging is Leading Segment in Market Owing to its Flexibility in Molding into Different Shapes and Sizes

Based on product type, the market is segmented into rigid packaging and flexible packaging. Flexible packaging is the leading segment in the global market due to its flexibility in molding into different shapes and sizes and being tailored to a diverse range of products, such as liquids, solids, powders, and gels.

Secondary Packaging Dominates Market Driven by its Ability to Protect Primary Packaged Products from Damage During Transit

Based on packaging type, the market is segmented into primary packaging, secondary packaging, and tertiary packaging. The secondary packaging segment dominates the global market. This growth is driven by its ability to protect primary packaged products from damage, contamination, and tampering during transportation, which offers product integrity and minimizes waste.

Food Industry is Dominating Market Due to its Ability to Offer Consumers With Real-Time Access to Product Information

Based on end-use industry, the market is segmented into food, beverages, cosmetics & personal care, chemicals & lubricants, healthcare, consumer products, building & construction, electronics, automotive, and others. The food industry is the dominating end-use industry in the market due to its ability to offer consumers real-time access to product information, sourcing details, and nutritional content.

With respect to region, the market covers North America, Latin America, Europe, the Middle East & Africa, and Asia Pacific.

Report Coverage:
The report has conducted a detailed study of the market and highlighted several critical areas, such as leading applications, materials, product types, types, end-user industries, and key market players. It has also focused on the latest market trends and key industry developments. Apart from the aforementioned factors, the report has given information on many other factors that have helped the market grow.
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List Of Key Companies Profiled In The Report
• Amcor Plc (Switzerland)
• Mondi Group (U.K.)
• Berry Global Inc. (U.S.)
• Smurfit Kappa (Ireland)
• Ball Corporation (U.S.)
• O-I Glass, Inc. (U.S.)
• Sonoco Products Company (U.S.)
• Schütz GmbH & Co. KGaA (Germany)
• International Paper (U.S.)
• Huhtamaki Inc. (Finland)
• Tetra Pak (Switzerland)
• Schoeller Allibert (Netherlands)
• Silgan Holdings Inc. (U.S.)
• ALLTUB GROUP (France)
• Albéa Group (France)
• 3M Company (U.S.)
• Avery Dennison Corporation (U.S.)
• Nitto Denko Corporation (Japan)
• CCL Industries (Canada)
• Mauser Packaging Solutions (U.S.)
• Gerresheimer (U.S.)
• Constantia Flexibles (Austria)
• Sealed Air Corporation (U.S.)
• Ardagh Group (Luxembourg)
• Greif, Inc. (U.S.)

Drivers and Restraints:
Increasing Focus On Product Traceability and Authentication Due to Consumer Awareness to Drive Market Growth
There is an increasing focus on improving product traceability and authentication in the market, driven by heightened consumer awareness of product origins, particularly in pharmaceuticals, food, and luxury goods. Key technologies such as RFID, NFC, and QR codes are essential for this enhancement. RFID enables real-time tracking of products in the supply chain, while NFC and QR codes allow consumers to access detailed product information for authenticity verification. The use of smart packaging technologies complicates counterfeiting efforts by providing unique identification for each item. These factors contribute to packaging market growth.
However, a significant challenge in the global market is the environmental impact of packaging materials, especially plastics.

Regional Insights:
Asia Pacific Dominated Market Due to Booming Food and Beverage Industry
Asia Pacific accounts for the largest packaging market share. This growth can be attributed to the region’s large and rapidly growing population. The increasing food and beverage industry, fueled by a surging middle class and evolving consumption trends, drives the demand for packaging.
North America ranks as the second-most dominating region in the market. This region represents a well-established and competitive market owing to strict regulatory standards, advances in technology, and a consumer shift toward convenience and sustainability.
Competitive Landscape:

Key Players to Increase Their Customer Base to Expand Their Geographical Presence

Some of the key players in the market include Amcor Plc, Mondi Group, Berry Global Inc., Smurfit Kappa, Ball Corporation, and others. These players operating in the market are focusing on increasing their customer base across the regions to expand their geographical presence.

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Notable Industry Development:

March 2024: Aptar announced the next phase of its plan for global expansion of its capacity in North America, which is located at its Aptar Congers, New York site. Through this acquisition, Aptar will be able to cater to the increasing prescription and consumer healthcare customer demand for proprietary drug delivery systems in North America.

Ashwin Arora
Fortune Business Insights™ Pvt. Ltd.
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