in 2021  packaging market registers 3.42% growth rate driven by growth in food delivery and takeout market – 17,000+ Technavio reports

in 2021 packaging market registers 3.42% growth rate driven by growth in food delivery and takeout market – 17,000+ Technavio reports

NEW YORK, in 2022 August 4 /PRNewswire/ — The Packaging market by End User (Food, Beverage, Healthcare, Personal Care, etc.), Type (Board, Rigid Plastic, Flexible, Metal & Glass) and Geography (APAC, North America, EuropeMEA and South America) – 2021-2025 the forecast and analysis report is included in Technavio’s offering. ISO 9001:2015 certified, Technavio has worked with more than 100 Fortune 500 companies for over 16 years. The market share of packaging is expected to increase US dollars – 170.61 billion from 2020 to 2025, and the market growth rate will accelerate CAGR 3.59%. Also, the market recorded a 3.42% YOY growth rate in 2021

Technavio has announced its latest market research report, Packaging Market by End User, Type and Geography - Forecast and Analysis 2021-2025.

Technavio has announced its latest market research report, Packaging Market by End User, Type and Geography – Forecast and Analysis 2021-2025.

To know more about the packaging market – Request a FREE sample now!

The packaging market is the main market dynamic

  • Market Driver – The primary growth driver for the packaging market is the growth of the food delivery and takeout market. The global food delivery and takeout market is growing rapidly, driven by increasing urbanization, busy and hectic consumer lifestyles, increased mobile phone penetration, and increasing adoption of e-commerce. Online food ordering is on the rise due to the proliferation of online platforms. Nowadays, most people around the world are used to using the internet and mobile apps, so many people prefer to order food through mobile apps and online portals. Also more convenient and cheaper due to better offers/discounts. Many restaurants have become affordable due to the availability of online services and restaurants are offering food through online services at competitive prices. Key players in the global online food delivery market include Delivery Hero, Domino’s, Just Eat and Foodler. therefore, as the global food delivery and takeout market grows, the global packaging market is also expected to grow at the same time.

  • Market Challenges – High cost of packaging production is one of the major challenges restraining the growth of the packaging market. One of the main raw materials used in packaging production is paper pulp. It is widely used in the production of corrugated boxes, cardboard boxes, folding boxes and paper bags, among other packaging. Paper pulp prices fluctuated constantly. For example, the producer price index for pulp, paper and similar products rose from 169.7 in 2018. in 2017 March to 217.1 inches in 2018 in June. In addition, paper has become more expensive due to increased transportation costs. In many countries, rising fuel prices have increased the cost burden of paper transportation. Similarly, changes in the prices of other raw materials, such as plastics, also affect the overall costs of market participants. By raising prices, raw material suppliers are forced to pass these costs on to end users. As a result, rising prices negatively affect market growth.

For additional key drivers, trends and challenges – Request a sample report now!

Packaging market – segmentation analysis

The packaging market report is segmented by end-user (food, beverage, healthcare, personal care, etc.), type (board, rigid plastic, flexible, metal, and glass), and geography (APAC, North America, EuropeMEA and South America).

  • Revenue generating segment – Growth in food packaging market share will be significant for the revenue generating segment. The potential growth in packaged food sales is driving demand for packaging around the world.

  • Highlights of the region – During the forecast period, 41% of the market growth will come from APAC. China and India are key packaging markets in APAC. The market growth in this region will be faster than the market growth in the regions.

Get a sample report For additional insights into the contribution of all segments and regional opportunities.

Packaging Market – Vendor Analysis

The packaging market is fragmented, and vendors are doing so organic and inorganic growth strategies compete in the market.

  • To gain access to more supplier profiles with their key offerings available through Technavio, Click here

A competition scenario is provided Packaging Market Report analyzes, evaluates and ranks companies according to various performance indicators. Some of the factors considered in this analysis are companies’ financial performance over the past few years, growth strategies, product innovation, new product launches, investments, market share growth, etc. Don’t wait, take a strategic approach and drive your business goals with our Packaging Market Forecast Report – Buy now!

Related reports:

Packaging market volume

Notice of coverage

Details

Page number

120

Base year

in 2020

Forecast period

2021-2025

Growth momentum and CAGR

Accelerate at 3.59% CAGR

Market growth 2021-2025

US dollars – 170.61 billion

Market structure

Broken down

growth per year (%)

3.42

Regional analysis

APAC, North America, Europe, MEA, South America, APAC, North America, Europe, MEA and South America

Make a market contribution

APAC – 41 percent.

Main user countries

USA, China, UK, India and Canada

A competitive place

Leading companies, competitive strategies, scope of consumer involvement

Companies are profiled

Amcor Plc, Ball Corp., Berry Global Group Inc., CCL Industries Inc., DS Smith Plc, DuPont de Nemours Inc., Mondi Group, Smurfit Kappa Group Plc, Sonoco Products Co. and WestRock Co.

Market dynamics

Key market analysis, market growth drivers and barriers, analysis of fast growing and slow growing segments, impact of COVID 19 and future consumer dynamics and market condition analysis during the forecast period.

Customization area

If our report does not contain the data you are looking for, you can contact our analysts for customized segments.

Search Technavio “Material market“Research reports

Main topics covered:

1 Summary

2 Market scenery

3 Determining the size of the market

4 Five forces analysis

5 Market segmentation by end user

6 Market Segmentation by Type

7 Customer landscape

8 Geographical landscape

9 Drivers, Challenges and Trends

10 Vendor landscape

11 Seller Analysis

12 Appendix

About us

Technavio is a leading global technology research and consulting company. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions. With more than 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports covering 800 technologies spanning 50 countries. Their customer base includes companies of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s comprehensive coverage, in-depth research and real-world market insights to identify opportunities in existing and potential markets and assess their competitive positions in changing market scenarios.

contact

Technavio research
Jesse Maida
Media and Marketing Manager
US: +1 844 364 1100
UK: +44 203 893 3200
email mail:[email protected]
Website: www.technavio.com/

Technavio (PRNewsfoto/Technavio)

Technavio (PRNewsfoto/Technavio)

Cision

Cision

View original content and download multimedia: https://www.prnewswire.com/news-releases/packaging-market-recorded-a-3-42-yoy-growth-rate-in-2021–driven-by-growth – of-food-delivery–takeaway-market–17000-technavio-reports-301599072.html

SOURCE Technavio

Leave a Comment

Your email address will not be published.