Press Release

The GCC Packaging Market to Surge at a CAGR of Around 4.3% during the forecast period

The GCC Packaging Market is anticipated to grow at a CAGR of about 4.3% during the forecast period of 2024-30, cites MarkNtel Advisors in the recent research report. The market expansion is attributed to rising demand for packaged goods in a variety of sectors, including food and beverages, pharmaceuticals, and personal care products. Rapid urbanization and changing lifestyles are resulting in increased consumption and a trend toward convenience-oriented products, fueling the demand for efficient and creative packaging solutions throughout the region.

Furthermore, the GCC countries have experienced a rapid surge in tourist arrivals as a result of favorable government policies and reforms in countries such as the UAE and Saudi Arabia. Furthermore, large events in GCC countries, such as the FIFA World Cup 2022 and the Dubai Expo 2022, have boosted tourism in the GCC region. Tourists frequently want convenient, ready-to-eat, or grab-and-go food items to fit their travel schedules and explore local sights without sacrificing nutrition or taste. This, in turn, is driving up demand for a wide variety of packaged foods, such as snacks, beverages, pre-prepared meals, and specialty items. As a result, packaging companies are seeing increased demand for new packaging solutions that assure food safety, freshness, and portability, driving market growth & expansion.

Moreover, the region's need for pharmaceutical products is being driven by a growing population, rising healthcare expenditures, and an increase in chronic illness prevalence. Strong economic development and government measures to diversify the economy have boosted investments in healthcare infrastructure and pharmaceutical manufacturing facilities. As the region's position as a pharmaceutical manufacturing hub grows, so does the demand for high-quality packaging solutions to assure medical product safety, integrity, and regulatory compliance. Packaging businesses are responding by providing customized solutions tailored to the specific needs of pharmaceutical items, such as tamper-evident packaging, child-resistant containers, and temperature-sensitive packaging for biologics and vaccines, thereby driving market growth, further states the research report, “GCC Packaging Market Analysis, 2024.”

Segmentation Analysis

Plastic Segment Expected to Hold Major Market Share

Based on the material, the market is segmented into plastic, glass, metal, paper & paperboard. Among them, the plastic segment is expected to account for the majority of the market share owing to rising demand for durable, adaptable, and temperature-proof packaging goods from the food and pharmaceutical industries. The food and pharmaceutical industries, in particular, are driving the strong demand for plastic packaging, which has superior barrier qualities that ensure product safety and extend shelf life. Furthermore, the flexibility of plastic packaging allows for novel designs that respond to changing consumer needs, such as convenience features and portion control, driving demand for plastic packaging solutions in the GCC region.

The UAE to Lead the Packaging Market in the Region

Due to its diverse economy and expanding industries like retail, e-commerce, and tourism, which significantly increase demand for packaging solutions across a wide variety of end-user industries, the UAE is anticipated to hold a sizeable position in the coming years. In addition, the UAE government's initiatives to support sustainability and innovation align with shifting consumer preferences, hastening the uptake of cutting-edge packaging technologies and environmentally friendly materials. Moreover, the need for upscale and personalized packaging solutions in the UAE is driven by the cosmopolitan population's diverse consumer tastes and high disposable incomes, which is driving the market's growth.

Competitive Landscape

With strategic initiatives such as mergers, collaborations, and acquisitions, the leading market companies, Tetra Pak International, Mondi PLC, Najmuddin Packaging & Refilling Industry Llc, Aptar Group Inc., Can-pack SA, Rotopacking Materials Ind. Co. LLC, Gulf East Paper and Plastic Industries LLC, Arabian Packaging LLC, Amber Packaging Industries LLC, Huhtamaki Flexibles UAE (Huhtamaki OYJ), Corys Packaging LLC, Integrated Plastics Packaging LLC, and others are looking forward to strengthening their market positions.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the region?
4. How has the industry been evolving in terms of geography & solution adoption?
5. How has the competition been shaping up across various countries?
6. How have buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?