The most recent study conducted by Report Ocean, titled “Global Moisture-resistant Packaging Market Size, Share, Pricing, Trends, Growth, Report and Forecast 2023-2030,” presents a comprehensive analysis of the worldwide market. This research delves into the factors driving the market, emerging trends, opportunities for development, as well as potential limitations that may affect the Moisture-resistant Packaging. The report provides an estimation of the global market size and examines recent strategic actions taken by prominent international competitors.
Global Moisture-resistant Packaging Market is valued approximately USD 25.65 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 4.5% over the forecast period 2022-2029. Protective packaging classified as moisture-resistant packaging, which is used to pack a broad range of goods and products that must be stored or kept in their original condition. In this kind of packaging, a coating or protective barrier consisting of high-barrier materials protects the condition of the product inside. It is frequently utilized when the container is exposed to moisture. Moisture-resistant packaging helps protect moisture-sensitive products throughout storage and transportation. Various bags, box trays, pouches, and bottles are included in the moisture-resistant packaging. The key factor driving the market growth is the rising demand in food and beverages industries for packaging food and beverages products to increase the shelf life of products and the rapid expansion of the e-commerce sector also creates the demand for moisture-resistant packaging for packaging various types of food, groceries, and other products.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
Moisture-resistant Packaging is widely used in the food and beverages industry for packaging food and beverages. The rising demand for packaged food and beverages is anticipated to create a demand for the Moisture-resistant Packaging market. According to Statista, in 2015, the sales value of packaged foods in India was USD 46.01 billion and the number reached USD 76.28 billion in 2018. As a result, rising packaged food consumption would create a lucrative demand for the market. Additionally, the rising popularity of biodegradable moisture-resistant packaging is anticipated to create lucrative opportunities for the market during forecast period. However, the high cost of Moisture-resistant Packaging stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Moisture-resistant Packaging Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the dominating region across the world in terms of market share, owing to the increasing spending on packaged food products and growing demand in the food and beverages industry. Whereas, Asia Pacific is anticipated to exhibit the highest growth rate over the forecast period, owing to factors such as the rising growing adoption e-commerce sector and rising demand in packaged food and beverages would create lucrative growth prospects for the Moisture-resistant Packaging market across the Asia Pacific region.
Major market players included in this report are:
Amcor plc
Sonoco Products Company
Mondi Group
WestRock Company
Smurfit Kappa Group plc
DS Smith Plc
Constantia Flexibles Group GmbH
Berry Global Inc.
Glenroy, Inc.
ProAmpac Intermediate, Inc.
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Recent Developments in the Market:
In May 2022, Techni Paper was introduced by Smurfit Kappa and is a moisture-resistant packaging material with many special qualities, including heat resistance, barrier properties, anti-static, and heat sealability.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Material:
Plastic
Glass
Metal
Paper & Paperboard
By Packaging Type:
Bags and Pouches
Films
Bottles & Jars
Trays & Clamshells
Others
By End Use:
Food & Beverage
Pharmaceutical
Electrical and Electronics
Cosmetics & Personal Care
Chemical & Fertilizer
Others
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World
Russia-Ukraine War on Market
The market is anticipated to suffer because of the Russia-Ukraine War. The demand for the market has decreased as a result of the political unrest and economic unrest in the area. The war had a detrimental impact on global economic activity, adding to inflationary pressures globally and hindering the post-pandemic recovery, even if it was not the primary cause of the slower-than-anticipated economic growth in 2022 and revised estimates for 2023.
The Five Forces analysis examines the following factors:
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
The PESTLE analysis takes into account the following dimensions:
- Political factors: This includes political policies, stability, and factors related to trade, fiscal policies, and taxation policies.
- Economic factors: This involves analyzing interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates.
- Social factors: These encompass changing family demographics, education levels, cultural trends, shifts in attitudes, and changes in lifestyles.
- Technological factors: This examines changes in digital or mobile technology, automation, and research and development in the relevant industry.
- Legal factors: This entails analyzing employment legislation, consumer law, health and safety regulations, as well as international trade regulations and restrictions.
- Environmental factors: This dimension considers aspects such as climate change, recycling procedures, carbon footprint, waste disposal, and sustainability practices.
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