Fast-moving consumer goods (FMCG) refer to low-priced, high volume products, which experience fastest sales in the supermarkets. These products include durable as well as non-durable items such as batteries, detergents, paper products, plastic goods, toiletries, and cosmetics. Future Market Insights (FMI) has offered a comprehensive forecast on the global FMCG Packaging market in its recent research report. The report comprises thoughtful insights, historical data, facts, and industry validated & statistically supported market data as well as projections, along with suitable methodology and set of assumptions.
Packaging in fast-moving consumer goods industry accounts for a large revenue share of material cost associated with development of finished products. This has led global leaders in the market to develop innovative packaging solutions for minimizing the operational cost. Some leading companies operating actively in the global FMCG market include PepsiCo Inc., Procter & Gamble Company, and Nestlé S.A. Other prominent industries in the market include Tetra Pak International, Amcor Limited, Unilever Group, Philip Morris International Inc., Mondelez International Inc., Kraft Foods, Altria Group, and Kimberly-Clark.
Packaging – Unique Tool Impacting Perception of Consumers Regarding Products
Packaging is an integral part of the global FMCG market, owing to its essentiality as a catalyst in proper positioning of products. Packaging enables effective communication between brand owners and consumers via logos, product information, images, colours, and graphics. It further serves as an imperative medium of communication, a tool for market players in distinguishing the appearances of their products from those of their rivals.
In the global market for fast-moving consumer goods, packaging plays an indispensable role in influencing consumer choices, which is a key factor in the point-of-purchase decisions. The marketing environment currently is complex and competitive, owing to integration of the modern marketing tools including branding, packaging, and several other aspects on a large scale, compared to basic marketing techniques. Packaging has emerged as the unique tool for creating a direct impact on perception of consumers and respective products, enhancing the visibility of products in the market.
Factors Impacting Growth of the Global FMCG Market
- Rise in technological advancements for development of eco-friendly packaged products
- Demand for variety in consumer products
- Changing consumer lifestyles
- Growth in number of middle-class population across developing economies
- Shifting focus towards differentiated packaging
However, complying with stringent environmental regulations associated with packaging is expected to remain a key challenge for manufacturers of FMCG packaging. A key trend gaining popularity in the global FMCG market is creation of new materials by using sustainable packaging methods for providing efficient designs.
Food & Beverages – A Profitable Sector for Packaging Companies to Make Investments
The global market for fast-moving consumer goods has been categorised on the basis of end-use industries and packaging type. FMCG packaging served various end-use industries such as cosmetics, food & beverages, and healthcare. Among all end-use industries, food & beverages is expected to be the most profitable sector for packaging companies to make investments in the long run. Various types of packaging used for consumer products include custom packaging, rigid plastic packaging, paper-based packaging, flexible packaging, and protective packaging.
Several barriers are associated with sourcing of packaging types on the basis of parameters including consumerism, mobility, and health consciousness in health and pharmaceutical products. Shifting purchasing patterns of consumers across the globe, along with surging demand for value-added products has resulted into an increasing consumer willingness to spend more on premium products. Companies are therefore concentrating on development of attractive packaging products for targeting the consumer spending.
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