Composite Packaging Market Size, Share Global Analysis Report, 2023-2032
Composite Packaging Market Size, Share Global Analysis Report, 2023-2032

Composite Packaging Market Share, Size, Trends, Industry Analysis Report, By Type; By End-Use (Food and Beverage, Industrial Goods, Healthcare, Consumer Goods, Others); By Region; Segment Forecast, 2023 - 2032

  • Published Date:Mar-2023
  • Pages: 116
  • Format: PDF
  • Report ID: PM1706
  • Base Year: 2022
  • Historical Data: 2019-2021

Report Outlook

The global composite packaging market was valued at USD 8.48 billion in 2022 and is expected to grow at a CAGR of 5.2% during the forecast period. Composite packaging is manufactured by utilizing full surfaces of two or more materials. The materials are selected to increase the durability, stress load, and elasticity of the overall pack. Some combinations common in the general composite packaging industry include Plastic-aluminum, Cardboard-polyethylene, Paper-polyethylene Plastic-Paper-Aluminum, and Paper-aluminum composite among Cardboard.

Composite Packaging Market Size

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Customization is an important parameter benefitting the global composite packaging industry’s growth. Composite packaging materials are highly customizable and can be manufactured according to the end-use application needs. In addition, these packing types provide the flexibility to select the manufacturing materials and their combination to suit application needs. Customers thus greatly benefit from this factor as they can choose packing based on their needs, such as gloss percentage, ink for printing, matt percentage, metalized films, transparency, and cold seal among Cardboard.

Advanced manufacturing methods guarantee that the overall performance of the composite packaging does not vary even under extreme conditions and results in prolonged service life. As two or more materials are combined, it significantly increases the performance as compared to single-material packing. Though the cost increases slightly, the additional benefits offset the extra cost. These composite packaging can also meet requirements such as vacuum packing, sterilization at high pressure and high temperature, and requirements of inflatable packaging among Cardboard.

The outbreak of the COVID-19 pandemic has significantly impacted the growth of the market. As mortality rises, the pervasive COVID has harmed people worldwide and locally. This has hindered the development of the market curve for composite packing. In many areas, the government has enforced a lockdown for the country's safety, but this has significantly impacted the manufacturing of packing materials. Along with other restrictions, the government has mandated using masks and gloves and keeping social distance. Deterioration in the supply chain delayed the delivery of the packing supplies.

Composite Packaging Market Share, Size

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Industry Dynamics

Growth Drivers
One of the major growth drivers for the composite packaging market is the increasing demand from various end-use industries such as food and beverage, healthcare, and consumer goods. Composite packaging offers a range of benefits, including durability, lightweight, and flexibility, which makes it ideal for packaging products that require protection during transportation and storage.

For instance, the food and beverage industry is a significant contributor to the growth of the market. Composite packaging is widely used in food and beverage products such as snacks, dairy products, and ready-to-eat meals. This is because composite packaging materials provide an effective barrier against moisture, gases, and light, which helps preserve the freshness and quality of food products.

Another example is the healthcare industry. Composite packaging is extensively used for medical devices, pharmaceuticals, and other healthcare products because it protects against contamination and damage.

Overall, the growing demand from various end-use industries for high-quality, cost-effective, and sustainable packaging solutions is expected to drive the growth of the composite packaging market in the coming years.

Report Segmentation

The market is primarily segmented based on type, end-use, and region.

By Type

By End-Use

By Region

  • Plastic
  • Paper
  • Cardboard
  • Others
  • Food and Beverage
  • Industrial Goods
  • Healthcare
  • Consumer Goods
  • Others
  • North America (U.S., Canada)
  • Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
  • Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
  • Latin America (Brazil, Mexico, Argentina)
  • Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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Plastic type accounted for the highest market share in 2022

The plastic segment accounted for the highest market share in 2022 and continues its dominance over the forecast period. The versatility of plastic material and its ability to combine with other materials benefit the growth of the plastic-type market segment. Companies have focused on making their Types more sustainable and environmentally friendly. Companies have developed composite packing solutions combining plastic and bamboo. This novel combination finds usage in applications such as cosmetics and the food & beverage industry. Such trends benefit the segment’s growth, thus benefiting the overall market.

The use of plastic in composite packaging has increased significantly in recent years due to the growing demand for sustainable packaging solutions. Plastic provides various benefits to composite packaging, including durability, flexibility, and lightweight. These properties make plastic ideal for packaging products that require protection during transportation and storage. Plastic also offers excellent barrier properties against moisture, gases, and light, which helps to maintain the freshness and quality of the packaged products.

The plastic segment is an important part of the composite packaging, and the demand for sustainable plastic-based composite packaging materials is expected to grow in the coming years.

The food and beverages segment accounted for the largest market revenue in 2022.

The food and beverage industry segment is the largest market revenue in 2022 and will continue its dominance over the projected period. The food and beverage industry requires packaging solutions that protect the products from damage, contamination, and spoilage during transportation and storage. Composite packaging offers several advantages, such as excellent barrier properties against moisture, gases, and light, which help maintain the freshness and quality of the packaged products.

In addition, composite packaging is also flexible, lightweight, and durable, which makes it an ideal packaging solution for the food and beverage industry. The use of composite packaging helps to extend the shelf life of food and beverage products, reduce the risk of product damage during transportation, and increase the convenience of the packaging for consumers.

The food and beverage segment is expected to grow in the composite packaging due to the increasing demand for high-quality, sustainable, cost-effective packaging solutions.

North America dominated the global market in 2022

North America dominated the global industry in 2022 and will likely maintain its dominance over the anticipated period. Due to the expansion of shopping and e-commerce, North America currently controls the majority of the global market for composite packaging. The presence of significant important players will also help the region's composite packaging market expand throughout the projection period.

A preference for environmentally friendly practices in North America contributes to developing the composite packaging sector. In addition, numerous market players and competitors have launched innovative portfolios in the area, helping the local market to expand.

Competitive Insight

Leading players in the composite packaging market include Amcor, DS Smith, Mondi, Smurfit Kappa, Sonoco, Mondi Plc., Crown Holdings, Sealed Air Corporation Universal Packaging Ltd, Najmi Industries, Sota Packaging Pty Ltd., among others. Companies are eyeing rising market opportunities in developing regions such as the Middle East & Africa, and Asia Pacific.

Recent Developments

  • In November 2022, Smurfit Kappa acquired Pusa Pack S.L., this acquisition allows Smurfit Kappa to expand its product portfolio and meet the growing demand for sustainable packaging solutions in a variety of industries.

Composite Packaging Market Report Scope

Report Attributes

Details

Market size value in 2023

USD 8.85 billion

Revenue forecast in 2032

USD 13.93 billion

CAGR

5.2% from 2023 – 2032

Base year

2022

Historical data

2019 – 2021

Forecast period

2023 – 2032

Quantitative units

Revenue in USD billion and CAGR from 2023 to 2032

Segments Covered

By Type, By End Use, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa

Key Companies

Amcor, DS Smith, Mondi, Smurfit Kappa, Sonoco, Mondi Plc., Crown Holdings, Sealed Air Corporation Universal Packaging Ltd, Najmi Industries, Sota Packaging Pty Ltd.

FAQ's

The global composite packaging market size is expected to reach USD 13.93 billion by 2032.

Key players in the composite packaging market Amcor, DS Smith, Mondi, Smurfit Kappa, Sonoco, Mondi Plc., Crown Holdings, Sealed Air Corporation Universal Packaging Ltd, Najmi Industries, Sota Packaging Pty Ltd

North America contribute notably towards the global composite packaging market.

The global composite packaging market expected to grow at a CAGR of 5.2% during the forecast period.

The composite packaging market report covering key segments are type, end-use, and region.