GCC Packaging Market is Projected to Grow at a CAGR of 4.3% During the Forecast Period, (2024-30)

According to the latest report drafted by MarkNtel Advisors, the GCC Packaging Market size is projected to grow at a CAGR of around 4.3% during the forecast period, i.e., 2024-30. The augmented demand for packaged goods and products through several industries is the major factor attributed to the market growth. Industries, such as food & beverages, pharmaceuticals, personal care products, and many more regularly require packaging solutions which is causing the GCC Packaging Market to flourish substantially.

Further, the report also mentions additional factors causing a boost in the market such as the swift urbanization and evolving lifestyles of the population leading to greater consumption levels and a swing towards convenience-oriented products. The generous influx of tourists in the GCC countries, owing to the encouraging government reforms and initiatives coupled with the organization of major events, such as FIFA World Cup 2022, Dubai Expo 2022, etc., in the GCC countries are fueling the GCC Packaging Market growth. As these events occur, tourists majorly resort to packaged ready-to-eat food, which is causing the market to soar. Besides, the rising demand for cosmetics & personal care products is also aiding the market growth.

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Prominent Competitors Holding a Considerable Share in the GCC Packaging Market

Some of the major players in the GCC Packaging Market include 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. These companies hold a significant market share and are constantly competing and evolving to maintain their market position.

GCC Packaging Market Segmentation Analysis

• By Material (Plastic, Metal, Glass, Paper, and Paperboard)
• By Packaging Type (Rigid and Flexible)
• By End User (Food & Beverage, Pharmaceutical, Personal/Homecare, and Others)
• By Country (The UAE, Saudi Arabia, Qatar, Oman, Kuwait, and Bahrain)

Owing to the increasing demand from numerous sectors, the Plastic segment is probable to retain a significant share of the GCC Packaging Market. Plastics provide resilient, flexible, temperature-proof packaging, and ensure optimum safety of the products, thus elongating the product’s shelf life. These features drive a generous demand for plastic packaging from various industries, especially the food & pharmaceutical industries.

Moreover, the plastic segment is witnessing considerable advances, such as the use of biodegradable and recyclable plastics, which help in sustainability and are ecological. All these aspects are pushing the demand for plastic packaging solutions on an upward trajectory in the GCC Packaging Market.

The UAE is anticipated to dominate the GCC Packaging Market with the maximum share given the varied and expanded economy of the country and the presence of flourishing industries, including retail, e-commerce, and tourism. The constant efforts by the government of UAE to advocate sustainability & modernization are parallel to the growing preferences of consumers resulting in the implementation of unconventional packaging technologies and eco-friendly materials. The multicultural population, characterized by assorted consumer inclinations and high disposable incomes, along with other aspects is further driving the mandate for premium and tailored packaging solutions in the country.

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