Global FMCG Packaging Market 2018-2023:
In the past few years, demand for the FMCG packaging market has been growing rapidly due to development of food market in the evolving economies. Change in lifestyle of people encourages manufacturers to make their existing products more innovative and come up with new packaging solutions for products which can enhance the growth of the market.
Fast Moving Consumer Goods (FMCG) are the products which are less expensive, sold rapidly and required by consumers regularly. These products are sold in large amounts by manufacturers, suppliers and retailers. They consists of non-durable and durable products such as detergents, products of paper, cosmetics, batteries, plastic goods, toiletries and many more. Transportation and storage of goods play a major role in various industries such as pharmaceuticals, foods & beverages and many more. Packaging is intended to be very effective and multilayered with regards to design and technology for better preservation and storage of goods. Thus, the market is noticeable by innovative packages of products boosting the growth of global FMCG packaging market.
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The e-commerce sector is the largest consumer of FMCG packaging materials. It requires protective packing for the delivery of small sized as well as big sized products. The factor which impacts the market is differentiated packing which adds demand to the product and plays a key role in changing the consumer’s preference. The market is experiencing an increase in the advancements in technology which has the ability to grow in future with the manufactures to provide the products as per customer’s needs.
FMCG market is divided into end-user industries and packaging type. End-use industries include cosmetics, healthcare, foods & beverages, amongst which foods & beverages sector invests more in packaging industries. Packaging materials comprise of flexible packaging, custom packaging, rigid plastic packaging, protective packaging and paper-based packaging. Currently, demand for packaging is being noticed across the evolving market. This enables the increase in the growth of global FMCG packaging market.
Innovative and specific packing strategies used by the FMCG industries to increase the growth of global FMCG packaging market:
- Differentiation and Unique Shape Packaging Strategy: Color plays a major role in packaging which gives the unique identity to the brand. Shape of the package plays a major role in marketing and packaging of product.
- Easy To Use Packaging Strategy: Easy handling of the product has been the main factor in packaging market.
- Store Easily Packaging Strategy: Stores the product easily keeping it fresh for reuse.
- Better Protective Packaging Strategy: To safeguard children and customers, packaging must be tested.
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Geographically, the regions focusing on the global FMCG packaging market are Latin America, North America, Asia-Pacific, Western Europe, Japan, Eastern Europe, Middle East & Africa. Asia Pacific is anticipated to boost the market due to economic conditions and demographics.
Investments observed in the FMCG Packaging market:
- In August 2018, Fonterra launched a joint venture with Future Consumer Ltd which provide a range of foodservice dairy products and customers.
- In May 2018, RP-Sanjiv Goenka Group created a venture capital fund of $14.92 M to invest in startups of FMCG.
Key segments of the global FMCG packaging market
Material Type Overview, 2013-2023 (Kilo Tons, USD Million)
- Paper & Paperboard
End-use Industry Overview, 2013-2023 (Kilo Tons, USD Million)
- Food & Beverages
- Cosmetic & Personal Care
Regional Overview, 2013-2023 (Kilo Tons, USD Million)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
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