Impact of Covid-19 on the Packaging Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2026

Report Code: ZMR-5396 | Report Format : | Status : Upcoming |

Abstract

Impact of Covid-19 on the Packaging Market: Overview

Packaging is a colossal global market driven by a century of product inventions and has already garnered more than trillions of dollars in the past few years. Being responsible for shaping the global economy, the packaging industry has ensured stability and ease to e-commerce, transport and logistics industries. However, the outbreak of the coronavirus or Covid-19 pandemic has been a major setback to the progression of the packaging industry. With customers being self-isolated and production paused, the global trade also witnessed a massive halt.

Notwithstanding the negative impact of covid-19 on the global packaging market, certain domains have been more active than others. These include e-commerce, fresh and processed food, healthcare products, personal care and home essentials. As a result, the packaging market will continue to expand at a fast pace over the next few years.

Impact of Covid-19 on the Packaging Market: Growth Factors

Within the healthcare industry, the outbreak of covid-19 has created considerable opportunities which can be capitalized on by scaling up production and supply. Governments are practicing extreme care to avoid the further spread of the novel coronavirus and thus, several organizations have been offering doorstep deliveries. Healthcare products are included in the essential services and need to be made available to the population despite the lockdown restrictions. The consumption of gloves, masks, syringes, closures and vials have shot up significantly, bolstering the growth of global packaging market.

Impact of Covid-19 on the Packaging Market: Segmentation

The plastic packaging segment is projected to be at the forefront of the market. Plastic is believed to be very requisite as it is much reliable and affordable. Since the demand from many end-users is growing, the use of plastic-based packaging is seeing a notable upsurge during the crisis. This will further drive the market toward growth even post-pandemic.

Impact of Covid-19 on the Packaging Market: Regional Analysis

The European market for packaging is expected to grow significantly due to high demand from medical and pharmaceutical verticals. As consumers continue to observe social distancing, online purchases of essential commodities such as groceries have increased to a remarkable degree, pushing the expansion of the e-commerce segment. Online sales of products and services such as medicines, pharmaceutical products, and personal hygiene products such as hand-wash and hand sanitizers have risen considerably.

The Asia Pacific region might emerge as the fastest growing regional segment. Rising consumption of basic necessities due to massive population, high adoption of technology, and growing popularity of online services will ensure that the Asia Pacific packaging market will keep augmenting. Several companies in developing countries like India have started offering doorstep deliveries of fresh fruits, vegetables, packaged food, frozen food and other groceries. A sharp increase in the consumption of frozen meat, fish and fresh fruits & vegetables has been observed and is likely to continue increasing since restaurants and home delivery services remain closed. For instance, the Indian startup FreshToHome as well as its competitors Licious and Groffers has witnessed a whopping demand during the lockdown period, collecting high revenues. As a result, propelled by the demand from food and beverages industry, the Asia Pacific region is poised for growth.

Impact of Covid-19 on the Packaging Market: Competitive Players

Major market players such as SmurFit, Amcor, Mondi Group, DS Smith Plc, Bizongo, and International Paper are few of the players active within the packaging market and are focusing on increasing production. Acquisitions, partnerships, and mergers are also being adopted by the competitors to stay in the game.

Impact of Covid-19 on the Packaging Market: Regional Segment Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

What Reports Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

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