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Packaging Solutions market Size, Share, Competitive Landscape and Trend Analysis Report
WILMINGTON, DE, UNITED STATES, October 10, 2024 /EINPresswire / -- The rising demand for packaging across the food, beverage, and cosmetics & personal care industries presents a significant growth opportunity for the global packaging solutions market . In 2021, the food and beverage sector accounted for the largest market share by end-user industry. Regionally, Asia-Pacific dominated, contributing nearly half of the global growlers market share. According to a report by Allied Market Research, the global packaging solutions market was valued at $1.0 trillion in 2021 and is projected to reach $1.6 trillion by 2031, growing at a compound annual growth rate (CAGR) of 4.3% from 2022 to 2031.
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The report offers an in-depth analysis of market dynamics, key segments, value chain, competitive landscape, and regional outlook. It serves as a valuable resource for leading industry players, investors, and startups in developing strategies for sustainable growth and gaining a competitive edge.
Key Market Insights:
The report spans 327 pages, covering various segments, including material type, packaging type, end-user industry, and region.
Drivers: The surge in demand for packaging in the food, beverage, cosmetics, and personal care sectors is a major growth driver.
Opportunities: Technological advancements are expected to further fuel market growth.
Restraints: The COVID-19 pandemic initially hampered the market, causing disruptions in supply chains and a slowdown in production.
Market Segmentation:
Material Type:
Plastic accounted for over two-fifths of the market share in 2021 and is expected to continue its dominance. This segment is projected to register a CAGR of 4.8% during the forecast period.
Packaging Type:
The new packaging segment held the largest share in 2021, contributing more than four-fifths of the market. However, the recycled segment is anticipated to experience the highest growth, with a CAGR of 5.2%.
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End-User Industry:
The food and beverage sector dominated in 2021, accounting for more than two-fifths of the market, and will likely maintain its leadership position. Meanwhile, the healthcare segment is expected to grow at the fastest rate, with a projected CAGR of 5.8%.
Regional Analysis:
Asia-Pacific led the market in 2021, accounting for nearly half of the total market share. The region is expected to maintain its dominance through 2031. Additionally, the LAMEA region is predicted to experience the fastest growth, with a CAGR of 5.1%.
Key Players:
Leading players in the global packaging solutions market include Crown Holdings, Mondi Group, Smurfit Kappa, DS Smith, WestRock, Amcor, Sealed Air, Ball Corporation, Silgan Holdings, and International Paper Company. These companies are employing strategies such as product launches, collaborations, and joint ventures to maintain their competitive positions.
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David Correa
Allied Market Research
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MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.