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Custom Packaging Market size is predicted to reach $37 billion by 2030, growing at a CAGR of 5.4% during the forecast period 2023-2030 according to the latest market research report published by IndustryARC. Rising e-commerce activities, consumer preference for customized packaging, and demand for convenience drives the market growth, finds IndustryARC in its recent report, titled “Custom Packaging Market Size, Share & Trends Analysis Report, 2023–2030”
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Asia-Pacific to Register Highest Growth:
The Custom Packaging industry in this region is expanding due to increasing demand for packaging solutions from various industries such as food and beverage, pharmaceuticals, and consumer goods due to rapid industrialization and urbanization in APAC. Moreover, the low cost of labor and raw materials in countries such as China, India, and Indonesia have made it easier for manufacturers to offer custom packaging solutions at competitive prices.
For instance, in February 2022, Amcor introduced a new platform of paper-based packaging products: AmFiber. AmFiber is an innovative solution tailored to provide snacks and confectionery customers with a recyclable package that delivers a high barrier from oxygen and moisture.
Custom Packaging Market 2023-2030: Scope of the Report
|
Report Metric |
Details |
|
Base Year Considered |
2022 |
|
Forecast Period |
2023–2030 |
|
CAGR |
5.4% |
|
Market Size in 2030 |
$37 billion |
|
Segments Covered |
Material Type, Packaging Type, End-Use Industry and Region |
|
Geographies Covered |
North America (U.S., Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and the Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia, New Zealand and the Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), Rest of the World (Middle East and Africa). |
|
Key Market Players |
1. Owens Illinois Inc. 2. Salazar Packaging Inc. 3. Design Packaging Inc. 4. PrimeLine Packaging 5. DS Smith plc. 6. Elegant Packaging 7. International Packaging Inc. 8. Pak Factory Inc. 9. Smurfit Kappa Group 10. ABOX Packaging |
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Custom Packaging Market Report – Key Takeaways:
Plastic is the most widely used material in the custom packaging market due to its versatility, durability, cost-effectiveness and convenience for consumers. According to the World Economic Forum, approximately 36% of all plastics produced are used in packaging. Plastic materials are commonly used in various packaging applications, including food and beverage, healthcare, cosmetics and are often more cost-effective than other materials like glass or metal. Technological advancements in the plastic industry, such as developing eco-friendly and biodegradable plastics are driving demand for plastic packaging solutions.
In 2022, North America had a 40% market share and the highest market revenue of $9.8 billion. The presence of major manufacturing and retail industries, which are important consumers of custom packaging solutions, supports the region’s powerful presence. Premium and customized packaging solutions are increasingly in demand in North America, especially for the food and beverage industries. The increased emphasis on sustainability drives demand for eco-friendly and sustainable choices for packaging.
The food and beverage industry has the highest market share of 43.1% in the Custom Packaging Market. Due to increasing demand for packaged food and beverages as consumers opt for convenient and ready-to-eat meals. The industry is subject to strict regulatory requirements that often require specific packaging materials and formats to ensure safety and compliance. Customized packaging solutions can help food and beverage companies promote their brands and stand out. Finally, customized packaging solutions can make it easier for consumers to transport, store and consume food and beverages, thereby driving demand.
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Key Opportunity Analysis:
The rapid growth of e-commerce activities is the key factor driving the custom packaging industry. As more consumers opt for online shopping, there is a growing demand for specialized packaging solutions that can protect products during shipping and handling. This has resulted in the need for customized packaging designs and materials that can withstand the e-commerce supply chain’s rigors while enhancing the overall customer experience.
The Paper and Paperboard segment is expected to grow fastest at a CAGR of 6.2% from 2023 to 2030. The rapid growth is due to a growing focus on sustainability in the packaging industry, and paper-based products are considered eco-friendlier and more sustainable than plastics.
Technological advancements in the paper and paper board industry drive demand for high-quality, durable paper products. Moreover, regulatory requirements and increasing consumer demand for eco-friendly and sustainable packaging solutions are driving demand for paper and paperboard packaging.
The custom packaging industry is seeing a shift towards adopting bioplastics as a more sustainable alternative to traditional petroleum-based plastics. Bioplastics are made from renewable resources like corn starch, sugarcane, and cellulose and can be biodegradable or compostable. The emergence of bioplastics in the custom packaging industry is driven by increasing consumer demand for eco-friendly products and more responsible manufacturing practices.
According to a report by the Organization for Economic Co-operation and Development (OECD), only 9% of plastic waste is recycled globally, while 22% is mismanaged. This highlights a significant challenge the custom packaging industry faces to develop sustainable packaging solutions to address the growing concerns of plastic pollution.
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The Report also Covers the Following Areas:
Custom Packaging Market 2023-2030: Key Highlights
Covid and Ukrainian Crisis Impact:
However, the pandemic has also led to supply chain disruptions and increased costs for custom packaging materials, making it more challenging for businesses to produce and distribute customized packaging. In addition, the pandemic had an overall economic downturn, which has reduced consumer spending and decreased demand for certain types of custom packaging.
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The Global Custom Packaging Market is fragmented with several global and regional companies operating with expansive manufacturing capabilities and extensive distribution networks. The key companies profiled are listed below:
Smart Packaging Market – Smart Packaging Market is projected to grow at a CAGR of 6.7% from 2023 to 2028. The growth of the smart packaging market is mainly attributed to the increasing demand for convenience and sustainability, advancements in technology and automation, and the need for product safety and security. Smart packaging offers benefits such as enhanced shelf-life, improved product tracking, and real-time monitoring of product conditions.
Metal Packaging Market – Metal Packaging Market is projected to grow at a CAGR of 2.7% from 2019 to 2025. Sustainability concerns for plastic material along with the increased awareness of consumers regarding environmental issues are promoting the growth of metal as an eco-friendly packaging material.
Protective Packaging Market – Protective Packaging Market is projected to grow at a CAGR of xx% from 2023 to 2028. The growth of the protective packaging market is mainly attributed to the increasing demand for safe and secure packaging solutions to protect products during transportation and storage, the growth of e-commerce and online shopping, and advancements in material science and packaging technologies contribute to the growth of this industry.
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IndustryARC primarily focuses on Market Research and Consulting Services specific to Cutting Edge Technologies and Newer Application segments of the market. The company’s Custom Research Services are designed to provide insights into the constant flux in the global demand-supply gap of markets.
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