PUBLISHER: Grand View Research | PRODUCT CODE: 1575069
PUBLISHER: Grand View Research | PRODUCT CODE: 1575069
The global packaging materials market size was estimated at USD 599.23 billion in 2023 and is projected to grow at a CAGR of 4.4% from 2024 to 2030. The market is being driven by increasing demand for sustainable, innovative, and multifunctional packaging solutions across various industries.
One key factor is rising consumer awareness about environmental sustainability, prompting companies to adopt eco-friendly materials like biodegradable plastics, recycled paper, and glass. This shift is supported by regulatory bodies across the globe, pushing for reduced plastic usage and encouraging recyclability.
The food and beverage, pharmaceutical, and personal care sectors are driving demand for new materials due to the growing need for safety, shelf-life extension, and aesthetic appeal. For example, newly developed biodegradable flexible plastics and compostable films are gaining momentum due to their ability to meet sustainability goals without compromising packaging quality.
Several companies are launching innovative products to cater to this demand. For instance, Amcor recently introduced a new recyclable plastic solution that retains the strength and flexibility of traditional materials while being more environmentally friendly. In addition, Tetra Pak has developed aseptic cartons made of plant-based polymers, addressing both environmental and functional needs.
Opportunities abound in the ongoing development of smart packaging materials that integrate IoT technology, as well as in the expansion of sustainable materials across new applications such as e-commerce packaging. As the demand for greener alternatives grows, there is a significant opportunity for companies to differentiate themselves by developing novel, sustainable packaging solutions that offer enhanced functionality, including barrier protection, lightweighting, and ease of use.
Global Packaging Materials Market Report Segmentation
This report forecasts revenue & volume growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global packaging materials market report based on material, product, packaging format, application, and region: