The global moisture-resistant packaging market is anticipated to create a positive growth outlook by exhibiting a CAGR of 4.5% over the forecast period from 2022 to 2032. The global market is set to enjoy a valuation of US$ 26.8 Bn in 2022, surpassing US$ 41.6 Bn by 2032. According to the historical analysis done by Future Market Insights (FMI), the global moisture-resistant packaging market grew at a CAGR of 4.1% from 2017 to 2021 and reached US$ 25.7 Bn by the end of 2021.
The growth of the market at present is attributed to the rising usage of safe and protective packaging across various industries throughout the forecast period. Furthermore, increasing usage across several industries including food & beverage, healthcare, electronics, and chemical is a key factor pushing demand for moisture-resistant packaging.
The overall sales of the moisture-resistant packaging market are predicted to propel with the top 3 countries which are projected to account for approximately 25-30% of the market by the end of 2022. In addition to that, there is a significant surge in the demand for protective and safe packaging solutions, the moisture-resistant packaging market will expand by 1.6 times the current market value during the forecast period (2022-2032). Furthermore, the increasing popularity of moisture-resistant packaging across various industries like electronics, pharmaceutical, cosmetics & personal care, and chemicals due to its convenient and safe nature is expected to boost sales in the market through 2032.
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The moisture-resistant packaging market is known as a type of protective packaging comprising several products like bags & pouches, boxes, films, and trays that protect products from moisture and helps to keep stored or transported products in their original condition. This type of packaging solution is excessively used across the food and beverage industries which helps in preventing the premature deterioration of products. Such moisture-resistant packaging solutions assist electronic manufacturers to prevent products from rusting and damage throughout storage and transportation. It is efficient for products that are susceptible to degradation because of moisture. Therefore, the expansion of diverse industries such as food, electronics, chemical, and pharmaceutical will facilitate the growth in the market.
Key Takeaways
· Rising inclination towards paper-based packaging, recyclable packaging, and compostable packaging is increasing as per the shift in consumer preferences. Moisture-resistant packaging solutions comprise bags & pouches, and films, among others that are not fully recyclable. Plastic-based packaging solutions have comparatively lower recycling efficiency and are also difficult to process again. The recycling of multi-layer packaging is more difficult than mono-layer packaging solutions and paper-based products.
· The rising environmental impact of plant-based materials may hamper the growth of the moisture-resistant packaging market. This has resulted in a complete shift of preference toward biodegradable (plant-based) moisture-resistant packaging solutions from both manufacturers and consumers' end. This is expected to boost the global market during the forecast period.
· Rising preference for safe, protective, and antibacterial packaging is on the rise focusing on reducing the risk of food poisoning. Also, rising consciousness about health is propelling the consumption of packaged food products over open food ones. Considering these factors, the moisture-resistant packaging market is expected to grow at a fast pace during the projection period.
· Moreover, a significant rise in the penetration of online food platforms witnessed by the increasing consumption of processed foods has created the need for safe and protective packaging solutions. Manufacturers and producers are able to create a good impact by using moisture-resistant packaging solutions in the consumer’s eye. Therefore, growing demand for safe and protective packaging is anticipated to create growth opportunities for manufacturers of moisture-resistant packaging.
· Moisture-resistant packaging protects moisture-sensitive products during storage and transportation. The moisture-resistant packaging includes a variety of bags, pouches, box trays, and bottles.
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Competitive Landscape
Dominant manufacturers within the global moisture-resistant packaging market are concentrating on expanding their presence, portfolio, capacity, and resources in order to meet the increasing demand for packaging in various regions. They are adopting strategies such as new product launches, mergers, acquisitions, partnerships, and facility expansions to gain a competitive edge in the market.
The Key Players Are:
Amcor plc, Sonoco Products Company, Mondi Group, WestRock Company, Smurfit Kappa Group, DS Smith Plc, and Constantia Flexibles Group GmbH are the top players operating in the market for moisture-resistant packaging.
Moisture-resistant Packaging Industry Segmentations:
By Material:
- Plastic
- Glass
- Metal
- Paper & Paperboard
By Packaging Type:
- Bags and Pouches
- Films
- Bottles & Jars
- Trays & Clamshells
- Others (Boxes, Cartons, etc.)
By End Use:
- Food & Beverage
- Pharmaceutical
- Electrical and Electronics
- Cosmetics & Personal Care
- Chemical & Fertilizer
- Others Consumer Goods
More Insights into the Moisture-resistant Packaging Market
The United States is expected to account for around 82% of the total share of the moisture-resistant packaging market throughout the assessment period. Growth in the U.S. is attributed to the growing focus on protecting moisture-sensitive products during storage and transportation, and the heavy presence of leading manufacturers.
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