Consumer Packaging Market: Overview
Packaging for the consumer goods industry plays a key role
in making the product aesthetically appealing for the potential buyer and
delivering products to the consumer in a sufficiently sophisticated, safe,
convenient, and appropriate manner. Serving a large number of industries that
produce tangible goods to be sold to large number of consumers, the packaging
industry forms the cornerstone of any consumer goods business. The consumer
packaging market has witnessed a significant rise in research and development
activities aimed at the development of innovative packaging materials and
product designs.
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However, vast pressures exerted by the volatile prices of
chief raw materials and the need to cut down on the original material used in
packaging for economic and environmental reasons are having a negative impact
on packaging companies. Transparency Market Research predicts that the market
will exhibit growth at a moderate pace in the next few years, with efforts
diverted towards innovation in product design and strategic expansion across
emerging economies expected to remain the key factors distinguishing successful
ventures from the ones struggling to grow.
Consumer
Packaging Market: Trends
and Opportunities
One of the most prominent trends in the global consumer
packaging market of present times is the increased attention given to the
reduction of the amount of material used in producing the packaging product by
packaging manufacturers. Ways of reducing the amount of environmentally harmful
polymers used in packaging is, especially, one of the most researched areas in
the consumer packaging market presently.
Focus on the development of new varieties of packaging
materials capable of preventing contamination of foods and beverages packed,
materials with a higher quotient of reusability or biodegradability, and
designs that make the product more convenient to use are also some of the
market’s key trends in present times.
Consumer Packaging
Market: Geographical and Competitive Dynamics
In terms of geography, the global consumer packaging market
is driven by emerging economies across regions such as Asia Pacific and Middle
East and Africa. The strengthening economies across these regions and the
resultant rise in consumption of a variety of consumer goods is expected to
drive the need for more reliable and sophisticated packaging products in these
regions in the next few years.
Some of the key companies operating in the highly
competitive global consumer packaging market are Polyoak Packaging Group,
Owens-Illinois, Air Packaging Technologies, Tetra Pak, Becton, Dickinson &
Company, Crown Holdings, Rexam, Amcor, Blue Ridge Paper Products, Clondalkin
Group Holdings, Evergreen Packaging, General Packaging Products, Fusion
Packaging Solutions, Exopack Holding, Huhtamaki OYJ, Mondi Group, Klockner
Pentaplast Group, Polytainers, Pechiney Plastic Packaging, Sonoco Products,
Reynolds Group Holding, Tetra Laval international, Toyo Seikan Group Holdings,
and SF Holdings Group.
This study by TMR is all-encompassing framework of the
dynamics of the market. It mainly comprises critical assessment of consumers’
or customers’ journeys, current and emerging avenues, and strategic framework
to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS
that offers detailed visualization of four elements:
- Customer Experience
Maps
- Insights
and Tools based on data-driven research
- Actionable Results
to meet all the business priorities
- Strategic
Frameworks to boost the growth journey
The study strives to evaluate the current and future growth
prospects, untapped avenues, factors shaping their revenue potential, and
demand and consumption patterns in the global market by breaking it into
region-wise assessment.
The following regional segments are covered
comprehensively:
- North
America
- Asia
Pacific
- Europe
- Latin
America
- The
Middle East and Africa
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The EIRS quadrant framework in the report sums up our wide
spectrum of data-driven research and advisory for CXOs to help them make better
decisions for their businesses and stay as leaders.
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