Custom Packaging Market Size, Share, Opportunities, And Trends By Material (Paper And Paperboard, Plastic, Metal, Glass), By Packaging Type (Boxes, Bottles, Containers And Jars, Corks, Bags And Pouches, Mailers, Others), By End-Users (Food And Beverages, Personal Care And Cosmetics, Pharmaceutical, Electrical And Electronics, Others), And By Geography - Forecasts From 2023 To 2028
- Published : Nov 2023
- Report Code : KSI061615824
- Pages : 144
The custom packaging market is projected to grow at a CAGR of 6.28% over the forecast period, increasing from US$28.940 billion in 2021 to reach US$44.316 billion by 2028.
Rising consumer demand for convenience packaging and advancements in packaging technology are major custom packaging market revenue drivers. Other important reasons that are anticipated to fuel demand for custom packaging and promote market revenue development include building brand awareness, providing customers with a personalized experience, and improving customer interaction.
Moreover, product packaging is vital for businesses because it allows them to not only differentiate their products and give a better consumer experience but also safeguard the product within. Custom packaging is defined as being created specifically for a company's operations and the goods it is manufacturing and distributing. It is made to properly fit the products and protect it more efficiently than regular and standard packaging.
Growing demand for paper packaging for the food and beverages industry
The most popular materials for food packaging are paper and paperboard. Paper is a great material for food packaging because it is eco-friendly. It is mostly used for carrying and storing major goods as well as packaging that comes into touch with food. Baking paper, microwave popcorn bags, and fast-food containers are all made from paper and paperboard. All of this is anticipated to encourage paper packaging growth on a global scale. High consumer awareness of packaged food, especially packaged food delivery, is expected to be the main driver of the custom packaging market growth.
Furthermore, the rise in demand for ready-to-eat, frozen, and packaged items is fueling the expansion of the food business, which is in turn boosting demand for folding cartons, corrugated boxes, and liquid paperboard boxes. For instance, the US Census Bureau estimates that in August 2023 retail and food services sales in the United States were $697.6 billion, up 0.6%. from the previous month and 2.5% over August 2022. As a result, rising food and beverage sales have an impact on the expansion of the paper packaging market which is also increasing the retail sales. For instance, grocery store sales climbed by 4.3% from $759.4 billion in 2020 to $792.3 billion in 2021.
It is projected that the custom packaging market in the United States will grow steadily.
Large custom packaging businesses like Packlane, and The Custom Packaging among others, stimulate investments for R&D and innovation operations in the nation. The fundamental changes in the packaging sector are driven by the various expansions across materials and forms. The custom packaging market is expanding in the United States as a result of shifting consumer behaviour and market-based product innovation.
According to the USDA, Economic Research Service, the import of beverages in the United States has significantly increased from US$ 16,368.9 million in the year 2020 to as much as US$19,022.6 million in the year 2021. This growth impacts the custom packaging market for beverages in the nation due to changing consumer preferences. Manufacturers in the nation are further focusing on product innovation and collaborations. For instance, Specialty chemical additive manufacturer Mayzo has unveiled new toll services that let their clients customize their products, save production costs, and increase the sturdiness and safety of their finished goods. Mayzo offers toll solutions such as chemical repackaging, particle size reduction, dry or liquid mixing, warehouse and distribution services, and dry or liquid toll solutions. Customers can also benefit from Mayzo's cheap minimum quantities and bespoke formulation services in several areas.
Market Key Developments
- November 2022, Krones, a top producer of filling and packaging solutions, owned 80.5% of R+D Custom Automation LLC (R+D). R+D, a US company based in Wisconsin, provides tools and equipment for creating and filling containers for the pharmaceutical sector.
- In February 2022, Samsung introduced a new line of packaging for the Galaxy S22 models. This packaging is composed of recycled paper and uses vegetable-based inks for printing. Samsung has pledged to make 100% of its packaging recyclable by 2023, and the packaging itself is also made to be recyclable.
- In January 2022, Nobelus® announced the introduction of cellulose-based EcoElementTM CLS Film as part of our ongoing commitment to sustainability. A completely plastic-free film is now part of the EcoElement sustainable range. EcoElement CLS Flexible Film provides a more environmentally friendly alternative to conventional coatings, which are mostly made of petrochemicals and are manufactured from PEFC-certified wood pulp from sustainably managed forests.
- By Material
- Paper and Paperboard
- By Packaging Type
- Containers and Jars
- Bags and Pouches
- By End-Users
- Food and Beverages
- Personal Care and Cosmetics
- Electrical and Electronics
- By Geography
- North America
- South America
- United Kigndom
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- North America
Frequently Asked Questions (FAQs)
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Market Segmentation
1.7. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Force Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. CUSTOM PACKAGING MARKET BY MATERIAL
5.2. Paper and Paperboard
6. CUSTOM PACKAGING MARKET BY PACKAGING TYPE
6.4. Containers and Jars
6.6. Bags and Pouches
7. CUSTOM PACKAGING MARKET BY END-USERS
7.2. Food and Beverages
7.3. Personal Care and Cosmetics
7.5. Electrical and Electronics
8. CUSTOM PACKAGING MARKET BY GEOGRAPHY
8.2. North America
8.3. South America
8.4.1. United Kigndom
8.5. Middle East and Africa
8.5.1. Saudi Arabia
8.6. Asia Pacific
8.6.4. South Korea
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
9.1. Major Players and Strategy Analysis
9.2. Market Share Analysis
9.3. Mergers, Acquisition, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. COMPANY PROFILES
10.1. Smurfit Kappa
10.2. Glenroy, Inc.
10.4. Owens Illinois Inc.
10.7. DS Smith Plc
10.8. WestRock Company
Owens Illinois Inc.
DS Smith Plc
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