- Over the five years to 2028, the global packaging market is forecast to grow from $1.17 trillion to $1.42 trillion
- Globally, the packaging market is forecast to expand at a compound annual growth rate (CAGR) of 3.9% over the next five years
- Flexible plastics will be the material type with the highest CAGR: 5.1% for 2023–28.
The increasing global demand for more and better packaging is examined in depth in this definitive Smithers flagship report. Pooling Smithers research and expertise from across this diverse and changing industry, the report examines the latest changes in consumer behaviour and their impact on packaging demand. It analyses the fastest growing end uses and the trends that are driving this acceleration; as well as the impact of global issues – such as challenging economic conditions and supply chain disruptions. Global forecasts are combined with profiles for 50 national markets, supported by granular value and volume data divided by end-use, material type, region and country.
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What will you discover?
- Asia is the largest market accounting for $470 billion of world packaging sales in 2023
- North America is in second place accounting for $270 billion of world packaging sales, ahead of Western Europe with $234 billion
- The emerging and developing regions of Eastern Europe, South & Central America, the Middle East and Africa each account for a relatively small share of packaging sales at present.
The Smithers methodology
- How and when the industry will respond to key pressures, such as tighter sustainability targets and raw material prices, and the commercial implications
- The current and future demand for packaging in 17 major and 33 minor national markets globally across 2023–2028
- The technical and business evolution that is driving expansion within packaging and how these influences will develop within a global dimension.
This report is based on extensive primary and secondary research. Primary research consisted of targeted interviews with material suppliers, converters and experts drawn from key markets. This was supported by secondary research in the form of extensive literature analysis of published data, official government statistics, domestic and international trade organisation data, company websites, industry reports, trade press articles, presentations, and attendance at trade events.
Who should buy the report?
About the author
- Raw materials suppliers
- Packaging and filling machinery manufacturers
- Packaging converters
- Brand owners and packaging buyers
- Industry consultants and analysts
David Platt has a broad range of experience in the plastics and packaging industry. He has authored over 50 market reports for Smithers on subjects including global packaging, rigid plastic packaging, PET packaging, flexible packaging, bioplastics, specialty plastics, high-performance packaging films, pouches, and caps & closures. He has participated in consultancy projects and has authored two books for Smithers.