News in Numbers
The global packaging market is expected to reach $1.05 trillion by 2024, growing at 2.8% CAGR. The steady expansion is due to new areas, substrates, and ownership shifts.
A new Oceana study reveals that Amazon's plastic pollution from deliveries surged 29% in one year, alarming for ocean conservation efforts.
Over 60% of the flexible packaging market is now for food. The robust growth is due to innovative solutions replacing traditional formats like metal cans and glass jars.
Europe’s consumer packaging market is expected to reach USD 198.05bn by 2028, growing at 4.07% CAGR from 2023-2028, up from USD 162.24bn in 2023.
Food and beverage packaging now sees 92% more eco-terms like "carbon impact," "reduced packaging," and "plastic-free" since 2018, raising concerns about unsubstantiated claims.