Composite Packaging Market Report

Market Overview:

The global composite packaging market size reached US$ 82.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 119.6 Billion by 2032, exhibiting a growth rate (CAGR) of 4.06% during 2024-2032. The augmenting demand for lightweight and sustainable packaging, the escalating demand for extended shelf life of food and beverage products, particularly perishable goods, and continual advancements in manufacturing processes represent some of the key factors driving the market.

Composite packaging refers to a type of packaging material made up of multiple layers of combined materials that provides durability and enhanced protection to the packaged products. The packaging system utilizes the specific properties of each layer to create a packaging solution combined using adhesives or lamination techniques to create a cohesive and robust structure. Some of the most common materials used in composite packaging include aluminum foil for moisture and oxygen barrier, plastic film for strength and flexibility, and paperboard for rigidity and printability. The layering of different materials offers excellent barrier properties against moisture, gases, light, and odors as well as provides strength and protection against impact and compression. In addition to this, composite packaging is highly customizable, allowing for variations in thickness, size, and shape to suit diverse product and packaging requirements. Some of its advantages include extension of the shelf life of perishable goods, enhanced brand visibility through attractive design and branding elements, and greater convenience with features, such as resealable closures, easy-opening mechanisms, and portioning options.

Composite Packaging Market Trends:

The global market is primarily driven by the augmenting demand for lightweight and sustainable packaging in various end-use industries. This can be attributed to the increasing environmental concerns among the masses. In line with this, the escalating demand for extended shelf life of food and beverage products, particularly perishable goods, is resulting in a higher product uptake. Moreover, the considerable rise in the popularity of e-commerce and online shopping among individuals is propelling the demand for durable and secure packaging solutions, which, in turn, is providing an impetus to the market. Also, continual advancements in manufacturing processes, such as extrusion lamination and co-extrusion, as well as the introduction of high-performance materials with improved barrier properties are fueling the market. In addition to this, the implementation of stringent laws and regulations by the government bodies of several countries promoting the usage of sustainable and recyclable packaging materials are creating a positive market outlook. The market is further driven by the rapid product adoption in industries where product integrity and safety are crucial, such as electronics, pharmaceuticals, and chemicals. Some of the other factors contributing to the market include an enhanced focus on convenience and user-friendly packaging, paradigm shift towards sustainable supply chains, and rapid urbanization.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global composite packaging market, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on material and end use.

Material Insights:

• Plastic
• Paper
• Cardboard
• Others
   

The report has provided a detailed breakup and analysis of the composite packaging market based on the material. This includes plastic, paper, cardboard, and others. According to the report, plastic represented the largest segment.

End Use Insights:

• Food and Beverage
• Industrial Goods
• Healthcare
• Consumer Goods
• Others
   

A detailed breakup and analysis of the composite packaging market based on the end use has also been provided in the report. This includes food and beverage, industrial goods, healthcare, consumer goods, and others. According to the report, food and beverage accounted for the largest market share.

Regional Insights:

• North America
  • United States
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for composite packaging. Some of the factors driving the North America composite packaging market included an enhanced focus on convenience and user-friendly packaging, presence of several key players, rising concerns regarding sustainable development, etc.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global composite packaging market. The detailed profiles of all major companies have been provided. Some of the companies covered include Amcor plc, Crown Holdings Inc., DS Smith plc, EnviroCore Composites (Pty) Ltd., Mondi plc, Sealed Air Corporation, Smurfit Kappa Group plc, Sonoco Products Company, Tetra Pak International SA, Zipform Packaging, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Questions Answered in This Report:

• How has the global composite packaging market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global composite packaging market?
• What is the impact of each driver, restraint, and opportunity on the global composite packaging market?
• What are the key regional markets?
• Which countries represent the most attractive composite packaging market?
• What is the breakup of the market based on the material?
• Which is the most attractive material in the composite packaging market?
• What is the breakup of the market based on the end use?
• Which is the most attractive end use in the composite packaging market?
• What is the competitive structure of the global composite packaging market?
• Who are the key players/companies in the global composite packaging market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the composite packaging market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global composite packaging market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the composite packaging industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.