Report Details:
15 Companies Covered
111 Pages
Packaging Market Overview
The global packaging market was valued at USD 549119.90 million in 2024 and is projected to reach USD 803424.83 million by 2035, growing at a CAGR of 3.52% from 2025 to 2035.
Market growth is driven by the increasing adoption of sustainable and recyclable packaging materials, coupled with the rapid expansion of organized retail chains and e-commerce activities.
Consumers' preference for convenience-based and eco-friendly packaging is compelling manufacturers to adopt advanced packaging formats. Innovations in materials, printing technologies, and smart packaging are further shaping the market landscape.
Consumer demand for visually appealing and durable packaging continues to rise, especially across food, beverage, pharmaceutical, beauty and personal care, and industrial sectors.
Retailers and manufacturers are increasingly integrating packaging into their brand differentiation strategies, emphasizing durability, cost efficiency, product safety, and sustainability.
Segment Insights
By packaging material, the paper and paperboard segment held the largest market share in 2023 and is expected to continue growing rapidly due to its recyclability and biodegradability.
Businesses are increasingly opting for paper-based packaging to meet sustainability mandates and reduce their carbon impact. Paper and paperboard are derived largely from renewable wood fiber, offering versatility and cost-effectiveness.
Based on packaging type, rigid packaging dominated the market in 2023 and will maintain its lead during 2024–2035.
Its structural integrity and ability to protect and preserve contents make it the preferred choice across industries, particularly for beverages, premium food products, and consumer goods. Rigid packaging materials include plastics, glass, metals, and wood.
The printing technology segment is led by flexography, which offers fast production, compatibility with multiple substrates, and high-quality output. Flexography is widely used in food packaging, corrugated boxes, labels, and pouches.
By end user, the food and beverage segment held the largest market share in 2023. Packaging in this segment ensures safety, freshness, contamination prevention, shelf-life extension, and regulatory compliance.
Consumers increasingly favor packaging that facilitates portability, resealability, and ease of use, which continues to drive innovation in this category.
Regional Insights
Europe held the largest share of the packaging market in 2023. The region is experiencing significant demand for sustainable packaging across industries, supported by strict regulatory frameworks aimed at reducing single-use plastic.
Germany leads the regional market, backed by strong technological capabilities and packaging automation in paperboard, flexible packaging, and protective packaging formats.
The USA market is experiencing strong growth due to rising demand for convenience-based packaging. The increase in single-serve packs, resealable containers, and ready-to-eat food formats is significantly impacting packaging innovation.
E-commerce continues to be one of the strongest contributors to packaging demand in the USA, especially in corrugated and protective materials.
Africa represented one of the fastest-growing regional markets due to rising disposable incomes, rapid urbanization, and the expansion of modern retail formats. Countries such as South Africa, Kenya, Nigeria, and Egypt are emerging as packaging consumption hubs.
Key Players
Major companies operating in the market include Amcor Limited, Mondi Group, Sealed Air Corporation, International Paper, Sonoco Group, WestRock Company, Berry Global Inc., Constantia Flexibles, Huhtamaki, and Coveris Holdings.
Industry Developments
· In November 2024, Amcor announced the acquisition of Berry Global for USD 8.4 billion, positioning the new entity as the largest resin purchaser and a global packaging leader.
· In December 2024, TOPPAN Holdings acquired Sonoco’s Thermoformed and Flexible Packaging Business for USD 1.8 billion, strengthening its packaging presence worldwide.
· In December 2024, TricorBraun acquired Veritiv Containers, reinforcing its role as a leader in rigid and flexible packaging distribution.
· In January 2025, International Paper acquired DS Smith for USD 9.9 billion to expand its footprint across North America and EMEA.
· In March 2025, Constantia Flexibles acquired Aluflexpack for USD 201 million, strengthening its aluminum-based flexible packaging segment.
· In February 2025, Ball Corporation acquired Florida Can Manufacturing for USD 160 million to expand regional supply capabilities.
· In February 2025, BEWI was acquired by Rock Capital and Unipol Holland for USD 77.6 million to form a leading polystyrene manufacturing and packaging network.
Key Findings
· The global packaging market is expected to grow from USD 549119.90 million in 2024 to USD 803424.83 million by 2035. The CAGR from 2025 to 2035 is 3.52%.
· Paper and paperboard remained the dominant material due to sustainability.
· Rigid packaging led the market in 2023 and continues to have strong demand during the forecast.
· Europe held the largest regional share, with Germany as a key contributor.
· Industry consolidation and acquisitions are reshaping competitive dynamics.
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