Overview
The packaging industry comprises various segments based on the type of packaging material and products they specialize in. Labels packaging was estimated to acquire over half of the market share in packaging industry in 2022 while denoting a major growth in market share by 2027. Flexible packaging and Corrugated packaging markets have been evaluated as the fastest and slowest growing segments in the packaging industry.
Market Share by each segment
The Labels packaging market is estimated to acquire major share by 2025, while subsequently trickling at a gradual rate by 2027. Considering the current market trends & modern innovations in flexible packaging, the market is predicted to grow at a higher rate than Corrugated market by the estimated period 2027.
Segment Growth
Regular advancements & modern technologies being introduced in the packaging industry have pushed the flexible packaging market to new heights. CAGR for the flexible packaging market is estimated to be approximately 10.3% followed by other packaging industries such as Glass, wood, metal packaging. While, an analysis of Market share gain also denotes that the flexible packaging industry is poised to increase its market share in the forthcoming years.
