FMCG Packaging Market will generate new growth opportunities by 2024
Deerfield Beach, FL -- (SBWIRE) -- 11/09/2017 -- FMCG is the short form for fast moving consumer goods. The products which are sold rapidly at a reasonable price are termed as fast moving consumer goods. FMCG includes several consumable and non-consumable products such as toiletries, soap, cosmetics, teeth cleaning products, packaged food products and drinks, grooming products and cosmetics, detergents, glassware, light bulbs, batteries, paper products, and plastic goods. These goods are utilized majorly on short-term period such as week, month specifically the consumables which are packed with a usable duration, while some of the products have long-term use. Packaging industries play a vital role in FMCG distribution and protection of the products from the environmental conditions, increase the shelf life of the products and sustaining its quality. The FMCG packaging is designed as marketing material with fancy graphics, product details, logo, and information denoting the brand to attract customers.
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The FMCG packaging market is segmented based on end-products as the laminate pouch, zipper pouch, stand pouch, cling film, BOPP bags, printing bags, and extrusion laminates. Based on raw material used to manufacture the end product, the global market is further segmented as aluminum, LDPE coated, uncoated paperboard, polyethylene terepthalate (PET), and high-density polyethylene (HDPE). Further based on the end-user application, the global market is segmented as food, health care, personal care, anti-aging and beauty products, OTC products, and others. Geographically, the global fast moving consumer goods packaging market is segmented as North America, Europe, the Middle East, Asia Pacific, Latin America, and Rest of World.
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Rising income of average earning class and spending capability, as well as increasing population in developing countries, are some factors boosting the demand for FMCG products for daily application, hence rising the demand for FMCG packaging market. A significant change in consumer lifestyle and availability of wide range of various FMCG products are driving the market growth. Constant development in packaging standards, designs, raw materials, with respect to the environment, by the manufacturers, is also one the factors boosting the market growth. Consumer focuses on premium packaging alternative due to eco-friendly materials, health factors, and many other parameters. Utilization of packaging for advertisement and branding purpose by the manufacturers among the consumers is also responsible for the growing demand of the FMCG packaging.
Europe is leading the global FMCG packaging market and is expected to retain its dominance in the coming future due to huge consumption of packaged food and beverages in this region.
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Some of the key players dominating the global FMCG packaging market include Albea, Ardagh Group, Bemis Company Inc, Berry Plastics Corporation, Ball Corporation, Amcor Ltd., Reynolds Group Holdings, Aptar Group, DS Smith Plc, CCL Industries Inc., Graham Packaging, and Toyo Seikan Kaisha Ltd. Some other participants include Crown Holdings Inc., MeadWestvaco Corporation, Tetra Pak International, Silgan Holdings, and Owens-Illinois Inc.
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