KBS - Packaging - Market Insight

WHAT TYPES OF BUSINESSES ARE STRATEGIC ACQUIRERS PURSUING IN THE PACKAGING SECTOR? Strategic acquirers are particularly focused on businesses operating in high-growth niches of packaging. Rather than broad, already consolidated areas such as metal cans or glass bottles, they are investing into sub-sectors with strong growth trajectories. For instance, flexible packaging including plastic films, pouches and labels has been an area of focus. After a wave of consolidation in flexibles during 2021–2023, investors still see opportunity for further deals given continued demand from e-commerce and consumer brands. Furthermore, private equity and corporate buyers are seeking out packaging companies specialising in recyclable, biodegradable or reusable packaging. Packaging businesses considered environmentally friendly relate to the materials used, for example bio-packaging technologies, recycling tech and services and reusable packaging programs. However, the plastics segment of packaging has experienced major consolidation activity in recent years. In 2024, two blockbuster plastic packaging deals were announced: Amcor’s $8.4bn acquisition of Berry, combining flexible and rigid plastics; and Novolex’s agreement to acquire Pactiv Evergreen for $6.7bn. This deal brought together two food service and consumer plastics packaging giants.

Overall, the plastics segment of the packaging industry has seen a surge in deal volume. For example, October 2024 saw 48 global plastics packaging deals, the highest monthly count since December 2021.

The global packaging market size is projected to hit around $1.69tn by 2034 at

a CAGR of 3.16% (2025 to 2034).