Consumer Packaging Market Size & Share

The global consumer packaging market size reached US$ 664.64 billion in 2024 and is projected to hit around US$ 969.73 billion by 2034, expanding at a CAGR of 3.85% during the forecast period from 2024 to 2034.

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Market Overview

The consumer packaging market centers on efficiently producing and distributing various materials for consumer products, including food and beverages, personal care, home care, and industrial and pharmaceutical industries. The market’s primary objectives are protecting the product during transit and storage and creating appealing packaging with unique logos to attract consumers. The ability to enhance the brand’s image and customize it according to consumer preferences while prioritizing their emotions will positively impact and contribute to the market growth.

The primary function of consumer packaging is to protect the products from external factors like oxygen and moisture. Home care products are used in day-to-day life activities and require easy-dispensing packaging that is easy to open and dispose of. Packaging types such as laminated pouches, plastic containers, thermoformed products, and shrink wraps are popular among consumers for their convenience features.

Market Trends

• Due to environmental awareness and excessive waste generation of plastic, recyclable and sustainable material is being adopted by packaging companies. Sustainable materials such as biodegradable plastics, cardboard, and recycled paper are popular among customers.
• Consumers’ shift towards alternative use of materials to reduce plastic’s impact on the environment in Europe is due to the 32 million tonnes of waste generated annually. To tackle this, in 2021, the EU banned the use of single-use plastic products like cotton bud sticks, cutlery, plates, straws, stirrers, and sticks for balloons under EU Directive 2019/904 on Single-Use Plastics (SUP).
• WestRock, a Georgia-based corrugated packaging and services company, merged with Smurfit Kappa, a leading corrugated packaging company in the United Kingdom (UK), in 2024. In 2023, WestRock’s revenue was USD 20.3 billion.
• According to IBEF (Indian Brand Equity Foundation), Indian government policies, such as permitting 100% FDI through the automatic route, have stimulated foreign investments in the packaging sector. As of March 2024, the Paper and Pulp industry invested US$1.71 billion, showcasing India’s robust packaging market.

AI Integration

Improvisation of the containerboard packaging market with the help of AI-based innovations. AI has improved market by developing new designs and enhancing every market feature, whether the properties or shipping. It can create new products by analyzing their weight and the material requirement due to the growing demand for smaller design packaging, which will need less space and shipping fees. It can also analyze consumer preferences and, based on that, can innovate products that will be cost-effective. Apart from this, AI can analyze the supply chain and predict the outcomes for leading consumers and leading regions.

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