The global FMCG packaging industry is estimated to reach US$ 418.8 billion in 2022, with sales increasing at a 5.7 percent CAGR through 2032. Rigid packaging is the most popular type of FMCG packaging, according to the report, accounting for around 63.2 percent of the worldwide FMCG market by 2032. With a positive demand outlook, the market is expected to reach US$ 726.6 billion by 2032.
Packaging protects things during transportation, extends their useful life, and even conveys critical information about the product’s composition and purpose. Well-designed packaging facilitates transportation and stocking while reducing waste throughout the supply chain.
Sales in the FMCG packaging market are expected to stay strong over the forecast period due to the rise of sectors such as electronic, pharmaceutical, food & beverage, and personal care in emerging nations.
One of the major factors driving the market is the emergence of smart packaging solutions with barcodes and QR codes for giving product information to consumers. Smart tags and smart packaging are also boosting inventory operations in the warehouse, such as life cycle management, shelving, and tracking.
Botch, for example, included smart technology into carton printing to track and trace product movement across the supply chain. PakSense has also incorporated ultra-contact labels, which are temperature monitor labels that emphasize the ideal temperature.
“Over the projected period, eco-friendly paper-based packaging is expected to gain traction, boosting the market growth.” Growing environmental concerns and packaging requirements will provide chances for players to improve product quality, which will drive sales over the forecast period,” the FMI analyst predicts.
Key Takeaways:
• Sales in the food and beverage sector are expected to grow at a 6.1 percent CAGR through 2032, based on end-use.
• Plastic will continue to be in great demand in terms of material.
• The rigid packaging market is expected to increase at a 5.5 percent CAGR throughout the assessment period, according to material type.
• Through 2032, the United States will continue to dominate the North American FMCG packaging market, with sales expanding at a 5% CAGR.
• The Indian FMCG packaging industry is expected to develop at a strong 7.3 percent CAGR through 2032.
Leading players in the global FMCG packaging market are investing in R&D to produce sustainable packaging solutions for a variety of end-use industries. In addition, firms are engaging in mergers, acquisitions, and alliances to increase their global market presence.
For example:
• In May 2020, Acosta, a leading consumer-packaged-goods sales and marketing agency, was appointed to exclusively represent Ball Corporation’s aluminum cups in retail and on-premises outlets across the United States, including grocery, drug, and C-stores, food service
