The latest Packaging Market research report by Technavio infers that the growth of food delivery and takeaway market is driving this market’s growth.
The packaging market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
- Amcor Plc – The company offers a range of packaging products such as capsules and closures, cups and trays, equipment, flexible packaging, plastic bottles and jars, and others
- Berry Global Group Inc. – Through this segment, the company offers medical garment materials, surgical drapes, household cleaning wipes, baby diapers, adult incontinence, and products and components for geosynthetics and filtration products servicing the specialty industrial markets
- Mondi Group – The company offers packaging solutions such as eco-solutions, flexible packaging bags, and pouches, personal care components, release liners, and others.
Key Market Segmentation
Segmentation by End-user:
The packaging market share growth by the food segment will be significant during the forecast period. The potential growth in packaged food sales is generating the demand for packaging globally. Changing lifestyles and food habits are significant factors underlying the growth of the packaged food industry across the world.
- Personal care
Segmentation by Type:
- Rigid plastic
Packaging Market 2021-2025: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our Packaging Market report covers the following areas:
Regional Market Outlook
41% of the market’s growth will originate from APAC during the forecast period. China and India are the key markets for packaging in APAC. Market growth in this region will be faster than the growth of the market in the European, North American, and South American regions.
The rapidly expanding end-user industries such as e-commerce, fast-moving consumer goods (FMCG), and personal care will facilitate the packaging market growth in APAC over the forecast period.
Latest Drivers & Trends of the Global Packaging Market
- Packaging Market Driver:
- Growth of food delivery and takeaway market:
One of the key factors driving growth in the packaging market is the growth of the food delivery and takeaway market. The global food delivery and takeaway market is growing at a substantial pace, owing to the rise in urbanization, the busy and hectic lifestyle of consumers, a surge in mobile phone penetration, and the increase in the adoption of m-commerce. As most people around the globe are habituated with the use of the Internet and mobile applications, many people prefer to order food through mobile applications and online portals. Many restaurants have become accessible owing to the availability of online services. The rise in the number of dark kitchens which produce food for online deliveries has contributed to the growth of the global food delivery and takeaway market globally. With the growth of the global food delivery and takeaway market, the simultaneous growth of the global packaging market is anticipated.
- Packaging Market Trend:
- Continuous development of new products:
The continuous development of new products is another factor supporting the packaging market share growth. Product developments by some vendors will encourage other vendors to introduce innovative products to remain competitive in the market. Amcor launched AmLite Ultra Recyclable, a packaging product made from high-barrier polyolefin film which can be used for a range of food, home, and personal care, and pharmaceutical products while also being recyclable in existing polyolefin recycling streams. Amcor also launched Genesis, an all-polyethylene laminate, which has clarity, gloss, and stiffness similar to polypropylene laminates. This packaging can be used for fresh produce, frozen food, dried fruits, nuts, confectionery, chilled goods, and pet food.
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Editor, International Confectionery
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