Global FMCG Packaging Market to Reach US$ 1,126.7 Billion by 2032, Facilitated by Continual Product Innovations

October 21, 2022 | Packaging

IMARC Group’s latest report, titled “FMCG Packaging Market Report by Packaging Type (Flexible Packaging, Rigid Packaging), Material (Paper, Plastic, Metal, Glass, and Others), End Use Industry (Food and Beverages, Cosmetic and Personal Care, and Others), and Region 2024-2032,” finds that the global FMCG packaging market size reached US$ 761.7 Billion in 2023. Fast-moving consumer goods (FMCG) packaging is used to contain, pack, and preserve FMCG products, such as beverages, processed foods, vegetables, fruits, toiletries, over-the-counter (OTC) drugs, and other consumables. It facilitates the safe storage and transportation of goods while protecting the packaged contents from damage due to exposure to the sun, dust, temperature changes, and contaminants. It also inhibits the growth of microorganisms, minimizes the risk of tampering, and preserves the hygroscopic nature of the product. In addition, it provides a surface for printing crucial product-related information, such as manufacturing and expiry date, storage instructions, ingredients, and warnings. As a result, FMCG packaging has gained immense traction across the globe to ensure product safety, improve aesthetics, and enhance user convenience.

Global FMCG Packaging Market Trends:

FMCG packaging assists manufacturers in maintaining the quality of goods, ensuring longer shelf life, and marketing their brand through personal packaging. This has led to the widespread adoption of protective packaging materials across various industries, including pharmaceuticals, personal care, and food and beverages (F&B), which represents the primary factor driving the market growth. Additionally, several key players are developing high-quality, innovative packaging solutions to meet evolving consumer demands. For instance, the introduction of attractive and personalized packaging that effectively communicates and advertises brand identity and products has catalyzed market growth. Besides this, the rising penetration of online retail and e-commerce channels for purchasing essential products, especially amid the sudden coronavirus disease (COVID-19) outbreak and the consequent implementation of mandatory lockdowns, has augmented the demand for FMCG packaging. Furthermore, with the escalating demand for nutritional foods, FMCG packaging companies are leveraging modern technologies to launch advanced product variants that help maintain freshness, preserve nutritional value, and ensure food safety. In line with this, the increasing adoption of recyclable pouches and aluminum cans for beverages due to their lightweight, stackable, strong, and sustainable nature is positively influencing the market growth. Other factors, including the growing environmental consciousness, surging demand for small-sized and convenient packaged products, ongoing strategic collaborations between key players, continual product innovations, and extensive research and development (R&D) activities, are also creating a favorable market outlook. Looking forward, IMARC Group expects the market value to reach US$ 1,126.7 Billion by 2032, expanding at a CAGR of 4.25% during 2024-2032.

Market Summary:

  • Based on the packaging type, the market has been bifurcated into flexible and rigid packaging.
  • On the basis of the material, the market has been classified into paper, plastic, metal, glass, and others.
  • The market has been segmented based on the end use industry into food and beverages, cosmetic and personal care, and others. 
  • Region-wise, the market has been divided into 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.
  • The competitive landscape of the market has also been examined, with some of the key players being Albéa Group, Amcor plc, AptarGroup Inc., Ball Corporation, Berry Global Inc., Consol Glass (Pty) Ltd, Crown Holdings Inc., DS Smith PLC, Graham Packaging Company, Sealed Air Corporation, Sonoco Products Company, Tetra Pak International S.A., and Toyo Seikan Group Holdings Ltd.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Packaging Type, Material, End Use Industry, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Albéa Group, Amcor plc, AptarGroup Inc., Ball Corporation, Berry Global Inc., Consol Glass (Pty) Ltd, Crown Holdings Inc., DS Smith PLC, Graham Packaging Company, Sealed Air Corporation, Sonoco Products Company, Tetra Pak International S.A., and Toyo Seikan Group Holdings Ltd.
Customization Scope 10% Free Customization
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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Global FMCG Packaging Market to Reach US$ 1,126.7 Billion by 2032, Facilitated by Continual Product Innovations
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