Secondary Packaging Market Competitive Landscape & Share 2032

Secondary Packaging Market Competitive Landscape & Share 2032

According to Fortune Business Insights, The global secondary packaging market was valued at USD 501.27 billion in 2023 and is anticipated to increase from USD 519.41 billion in 2024 to USD 720.70 billion by 2032, registering a CAGR of 4.18% over the forecast period. In the U.S., the market is expected to witness significant expansion, reaching USD 196.62 billion by 2032, driven by the rising importance of branding, product protection, and supply chain efficiency across industries such as e-commerce and retail. Regionally, North America led the secondary packaging market in 2023, holding a 33.48% share.

Secondary packaging refers to the outer layer that encloses and safeguards primary packaging and the product itself, protecting it from external elements and reducing the risk of damage. The growing use of paper and paperboard materials is contributing significantly to the expansion of the global market. Additionally, the increasing adoption of electronic products worldwide is fueling demand for secondary packaging, as it offers enhanced protection for items such as LEDs, lights, and other electronic devices, thereby supporting overall market growth.

Fortune Business Insights presents this information in their report titled "Secondary Packaging Market, 2024–2032."

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Segments

Paper and Paperboard Segment Dominates the Market as They are 100% Recyclable

By material, the market is divided into plastic, paper & paperboard, metal, and others. The paper and paperboard segment holds the highest secondary packaging market share as they are 100% recyclable and do not damage the environment. Increased usage of high demand for boxes and cartons is boosting segment expansion.

Boxes & Cartons Gain Popularity as They are Eco-friendly and Highly Durable

On the basis of product type, the market is categorized into films & wraps, mailers, boxes & cartons,  labels, bags & pouches, protective packaging products, and others. Boxes & cartons command the global market as they are the most famous types of product packaging and are widely utilized to transport anything. Boxes & cartons are gaining traction as they are eco-friendly, highly durable, appealing, and customizable.

Rapid Change in Consumer Lifestyles Boosts Secondary Packaging Demand in the Food and Beverage Sector

Based on the end-use industry, the market is segmented into food & beverages, e-commerce, healthcare, electricals & electronics, personal care & cosmetics, automotive, building & construction, and others. The food and beverages segment dominates the market due to rapid changes in consumer lifestyles and purchasing behavior. Surging demand for convenient food products is also driving segment growth.

From the regional ground, the market is classified into Europe, Latin America, North America, Asia Pacific, and the Middle East & Africa.

List of Key Players Profiled in the Market Report

• Amcor plc (Switzerland)
• International Paper Company (U.S.)
• Berry Global Inc. (U.S.)
• Mondi (U.K.)
• DS Smith (U.K.)
• WestRock (U.S.)
• Crown Holdings Inc. (U.S.)
• UFP Industries, Inc. (U.S.)
• Graphic Packaging International, LLC (U.S.)
• Huhtamaki Oyj (Finland)
• Packaging Corporation of America (U.S.)
• Rengo Co. Ltd. (Japan)
• Sealed Air Corp. (U.S.)
• Smurfit Kappa Group (Ireland)
• Stora Enso Oyj (Finland)

Report Coverage
The market research report presents a complete market examination, highlighting essential elements, including the competitive environment and noticeable product categories. Furthermore, the report provides valuable insights on market trends and significant industry developments. Apart from the factors above, the report includes several aspects that have fostered market expansion in recent times.

Drivers and Restraints

Rapid Expansion of the E-commerce Sector Propels Market Growth

The rapid expansion of the e-commerce industry is boosting the adoption of boxes, cartons, and other products across the globe. Secondary packages are crucial in keeping transit packaging smooth for creators of essential products, including packaging for food, medical, consumer goods, and pharmaceutical products. The demand for food, specifically from online outlets, is rising enormously. Increased demand for secondary packaging is attributed to the growing emphasis on online food delivery and online shopping of essential products by millennials and the working women population. This factor fosters global secondary packaging market growth.

Nevertheless, varying prices of raw materials are impeding market growth.

Regional Insights

Rising Preference for Online Food Delivery in the U.S. Augments Market Growth in North America

North America emerges as a leading region in the global market due to the rapid expansion of the food and beverages sector. Rising preference for online food delivery, especially in the U.S., is also driving market expansion in the region.

Europe is the second-ruling region in the global market owing to increased focus on sustainability due to rising concerns around the environment. Surging adoption of environmentally friendly packaging solutions propels market growth in the region

Market Report Reference: https://www.fortunebusinessinsights.com/secondary-packaging-market-107321

Competitive Landscape

Key Players Offer Innovative Packaging Solutions to Boost Their Market Positions

Some of the key players in the market are Amcor plc, International Paper Company, Berry Global Inc., Mondi, DS Smith, and WestRock. Top secondary packaging solution providers reign supreme in the market by offering innovative packaging solutions.

Key Industry Development

• May 2024 – Mondi declared the launch of a new secondary paper packaging solution, TrayWrap, that replaces plastic shrink film utilized for bundling food and beverage products. The new sustainable packaging option is developed using Mondi’s Advantage StretchWrap range and is majorly utilized by a coffee brand in Sweden to safeguard 12 coffee packages for transportation purposes. 
• September 2023 – Tetra Pak, a world-renowned leader in paper-based carton packaging, teamed up with Flow Beverage, the largest carton water brand in North America, and Live Nation Canada. Together, they unveiled new carton designs that showcase Tetra Pak Custom Printing. It is the "one-of-a-kind" inkjet-based system that enables brands to create premium, tailor-made, and affordable packaging solutions.