NEW
YORK, July 12, 2024 /PRNewswire/ -- The global
secondary packaging market size is estimated to grow by
USD 86.2 billion from 2024-2028,
according to Technavio. The market is estimated to grow at a CAGR
of 4.6% during the forecast period. Growing
E-commerce industry is driving market growth, with a
trend towards increasing mergers and acquisitions (M and A).
However, rising cost of raw materials poses a challenge.
Key market players include Amcor Plc, Ball Corp., Berry Global
Inc., Catalent Inc., Crown Holdings Inc., Daio Paper Corp., DS
Smith Plc, Graphic Packaging Holding Co., Huhtamaki Oyj,
International Paper Co., Mondi Plc, Packaging Corp. Of America,
Rengo Co. Ltd., Salzgitter AG, Sealed Air Corp., Smurfit Kappa
Group, Sonoco Products Co., Stora Enso Oyj, Tetra Laval SA, and
WestRock Co..
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Type (Paper and
Plastic), Application (Food, Beverages, Pharmaceuticals, Personal
and home care, and Others), and Geography (North America, Europe,
APAC, South America, and Middle East and Africa)
|
Region
Covered
|
North America, Europe,
APAC, South America, and Middle East and Africa
|
Key companies
profiled
|
Amcor Plc, Ball Corp.,
Berry Global Inc., Catalent Inc., Crown Holdings Inc., Daio Paper
Corp., DS Smith Plc, Graphic Packaging Holding Co., Huhtamaki Oyj,
International Paper Co., Mondi Plc, Packaging Corp. Of America,
Rengo Co. Ltd., Salzgitter AG, Sealed Air Corp., Smurfit Kappa
Group, Sonoco Products Co., Stora Enso Oyj, Tetra Laval SA, and
WestRock Co.
|
Key Market Trends Fueling Growth
Vendors in the global secondary packaging market are expanding
their businesses through strategic mergers and acquisitions
(M&A) to boost their market presence. Notable recent
acquisitions include Amcor's purchase of MDK, a Shanghai-based medical device packaging
provider, and Smurfit Kappa's acquisition of Atlas Packaging, an
independent corrugated packaging supplier. These deals will enable
Amcor to strengthen its position in the APAC medical packaging
market and Smurfit Kappa to enhance its capabilities in the UK
market, offering innovative and sustainable packaging solutions to
customers. These strategic moves are expected to drive growth in
the secondary packaging market during the forecast
period.
The secondary packaging market is witnessing significant growth
in various industries such as food and beverages, electronics, and
pharmaceuticals. Trends include eco-friendly solutions using paper
and paperboard, reducing damage during transportation through bulk
packaging like Corrugated Boxes and Plastic Crates, and addressing
external factors like moisture and infestation with Wraps and
Films. The food & beverages industry focuses on brand marketing
and product display using Cartons and Trays. In contrast, the
electronics industry prioritizes protection for sensitive items
like Lights and LEDs. The chemicals industry and electrical
industry also benefit from secondary packaging to ensure safe
transport. E-commerce websites drive demand for home delivery
solutions. The Folding Cartons segment is a popular choice due to
its versatility and cost-effectiveness. Environmental concerns are
driving the use of recycled solutions. Primary packaging, such as
Bottles, is often integrated with secondary packaging for added
protection.
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Market Challenges
• The secondary
packaging market is experiencing a significant increase in raw
material costs, primarily due to the volatility of paper pulp and
plastic prices. Paper pulp, a major raw material for corrugated
boxes, has seen a surge in prices due to a widened demand-supply
gap and rising wood costs, which account for over 70% of the total
input cost in paper-based packaging solutions. Additionally,
plastic-based packaging solutions have been affected by the
invasion of Ukraine by
Russia, leading to increased resin
prices and manufacturing costs. Crude oil prices, derived from
petroleum hydrocarbons, have also risen, impacting the cost of
synthetic polymers such as PE, PP, nylon, PS, PTFE, and epoxy.
These increasing raw material costs are expected to negatively
impact the production of secondary packaging products, potentially
hindering market growth during the forecast period.
• The secondary
packaging market encompasses various product categories, including
folding cartons, corrugated boxes, plastic crates, wraps, and
films. Key industries like beverage, healthcare, consumer
electronics, and cosmetics drive demand. Brands prioritize product
display and brand marketing through eye-catching designs. Recycled
solutions and eco-friendly practices are essential due to
increasing environmental concerns. Primary packaging, such as
bottles, vials, and blisters, must comply with regulations
regarding dosage instructions, expiration dates, and regulatory
information. Challenges include counterfeiting and tampering,
necessitating secure packaging solutions. Folding cartons and trays
are popular due to their lightweight and versatility. Raw
materials, such as biodegradable and recyclable options, are
crucial for sustainability. E-commerce growth increases demand for
film bundles and shrink films for product protection.
Environment-friendly materials, like recycled paper and
biodegradable plastics, are preferred. Deforestation and tourism
impact paper sourcing, while processed food, carbonated beverages,
and ready-to-eat foods require specific packaging solutions.
Graphic packaging enhances product appeal, while regulatory
compliance remains a priority.
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challenges - Download a Sample Report
Segment Overview
This secondary packaging market report extensively covers market
segmentation by
- Type
- Application
- 2.1 Food
- 2.2 Beverages
- 2.3 Pharmaceuticals
- 2.4 Personal and home care
- 2.5 Others
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 APAC
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Paper- Paper-based secondary packaging is a
popular choice for businesses and consumers due to its
sustainability and eco-friendliness. This type of packaging
involves the use of paper-based materials for product protection,
transportation, and storage. The food and beverage industry is a
significant user of paper-based secondary packaging, as it ensures
proper handling and storage of food products while protecting them
from environmental factors and contamination. Examples include
pizza boxes, cereal boxes, and beverage cartons. The e-commerce
sector is also adopting paper-based packaging to address waste and
sustainability concerns, with major companies like Amazon and
Walmart using corrugated cardboard boxes for shipping. The beauty
and cosmetics industry is another sector embracing paper-based
packaging due to its cost-effectiveness, sustainability, and
attractive appeal. The growing trend towards eco-friendly solutions
is driving the adoption of paper-based secondary packaging in these
industries, contributing to the growth of the paper segment in the
global secondary packaging market.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2018 - 2022) - Download a Sample Report
Research Analysis
The secondary packaging market encompasses various types of
packaging solutions designed to protect and transport primary
packaged products. This market includes Folding Cartons, Corrugated
Boxes, Plastic Crates, Wraps and Films, Trays, and Outer Packaging.
Folding Cartons are popular for their versatility and
cost-effectiveness, while Corrugated Boxes offer robust protection
against damage. Plastic Crates and Trays are ideal for bulk
packaging and heavy items. Wraps and Films provide an additional
layer of protection, especially for sensitive products like
Beverages, Healthcare, and Consumer Electronics. Shrink Films are
commonly used for Primary Package Envelopment in industries like
Food and Beverage and Electronics. External factors such as Damage,
Appearance, Moisture, and Infestation can significantly impact the
effectiveness of secondary packaging. Therefore, it is crucial to
consider these factors when selecting the appropriate packaging
solution. Paper and paperboard are common materials used in
secondary packaging due to their sustainability and
cost-effectiveness. However, they can be susceptible to Physical
Damage and Moisture. To mitigate these risks, advanced coatings and
treatments can be applied to enhance the durability and water
resistance of these materials. Overall, the secondary packaging
market plays a vital role in ensuring the safe and efficient
transportation of primary packaged goods.
Market Research Overview
The secondary packaging market encompasses various types of
packaging solutions designed to protect and promote primary
packaged goods. Folding cartons, made of paper or paperboard, offer
versatility and branding opportunities for various industries,
including beverages, healthcare, consumer electronics, and
cosmetics. Corrugated boxes provide strength and protection for
heavy and bulky items, while plastic crates offer durability for
industrial applications. Wraps and films, such as shrink films,
ensure product security and product display. Eco-friendly practices
are increasingly important in the secondary packaging market.
Recycled solutions, lightweight, biodegradable, and recyclable
materials are gaining popularity to reduce environmental impact.
Raw materials, such as paper and paperboard, are under scrutiny for
their sustainability, with deforestation and tourism being
significant external factors. Folding carton demand is driven by
brand marketing and product display needs, with regulatory
information, expiration dates, and tamper-evident features crucial
for industries like pharmaceuticals and food and beverages.
Secondary packaging plays a critical role in protecting against
counterfeiting, damage, and environmental concerns. E-commerce
growth and home delivery have accelerated the demand for secondary
packaging, with e-commerce websites requiring efficient and
protective packaging solutions. The food and beverages industry,
chemicals industry, electronic products, and pharmaceuticals
industry are major consumers of secondary packaging, with external
factors like damage, appearance, moisture, infestation, and
physical damage influencing packaging choices. The folding cartons
segment dominates the secondary packaging market, with
environment-friendly materials, such as biodegradable and recycled
paper, gaining traction. Other packaging types, such as trays, film
bundles, and primary package envelopment, cater to specific
industry needs. The market is influenced by various external
factors, including the electronic industry, lights, and LEDs, and
environmental concerns.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Type
-
- Application
-
- Food
- Beverages
- Pharmaceuticals
- Personal And Home Care
- Others
- Geography
-
- North America
- Europe
- APAC
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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