The US Packaging Industry Report is Segmented by Material Type (Paper and Paperboard, Plastic, Glass, Metal) and End-User Industry (Food, Beverage, Pharmaceuticals, Household, and Personal Care).

In 2024, the global packaging market was valued at 1.24 trillion U.S. dollars. It is forecast to grow to a market size of 1.69 trillion U.S. dollars by 2034, with an increase of 3.16 percent CAGR between 2024 and 2034.

The Report Covers Global Packaging Industry Growth & Outlook and It is Segmented by Packaging Type (Plastic Packaging (Rigid Plastic Packaging (Material Type, Product Type, End-User Industry, Region) Flexible Plastic Packaging (Material Type, Type, End-User Industry, Region)) Paper and Paperboard (Product Type, End-User, Region), Metal Packaging (Product Type, Region), Container Glass (End-User, Region).

The packaging market size is projected to grow from $1.21 trillion in 2024 to $1.8 trillion by 2035, representing a CAGR of 3.7% during the forecast period 2024-2035

The total market value of packaging materials worldwide reached nearly 896 billion U.S. dollars in 2022. It is forecast that this global market value will increase considerably, reaching approximately 1.15 trillion U.S. dollars by 2030 across all regions. The Asia-Pacific region is expected to lead the market, with a contribution of roughly 289 billion U.S. dollars in 2022 and an estimated 392 billion U.S. dollars in 2030.

Additional information on the packaging materials market can be found here.

The Report Covers Sustainable Packaging Industry Trends and Companies. The Sustainable Packaging Market is Segmented by Process (Reusable Packaging, Degradable Packaging, and Recycled Packaging), Material Type (Glass, Plastic, Metal, and Paper), End User (Pharmaceutical and Healthcare, Cosmetics and Personal Care, Food and Beverage, and Other End Users), and Geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa). The Market Sizes and Forecasts are Provided in Terms of Value (USD) for the Above Segments.

The global paper packaging market is estimated to attain US$ 3,83,867.8 million by the end of 2023. The market is stipulated to witness a decent CAGR of 4.1% between 2023 and 2033, to reach US$ 5,73,705.45 million by the year 2033.

Key Trends Influencing the Paper Packaging Industry

Attributes	Details
Paper Packaging Market Size (2023)	US$ 3,83,867.8 million
Projected Market Value (2033)	US$ 5,73,705.45 million
Global Market Growth Rate (2023 to 2033)	4.1% CAGR
Dominant Packaging Type	Corrugated Boxes

Geographic Forecasts

The United States Market Size (2023)	US$ 87,314 million
Estimated CAGR (2023 to 2033)	3.1%

The United Kingdom Market Size (2023)	US$ 8,600.8 million
Estimated CAGR (2023 to 2033)	3.6%

China Market Size (2023)	US$ 70,985.9 million
Estimated CAGR (2023 to 2033)	4.5%

Germany Market Size (2023)	US$ 14,730.9 million
Estimated CAGR (2023 to 2033)	3.3%

Spain Market Size (2023)	US$ 9,741.8 million
Estimated CAGR (2023 to 2033)	4.5%

Year	Value
2017	US$ 72,379.3 million
2022	US$ 84,726.5 million
2023	US$ 87,314 million
2033	US$ 1,18,486.95 million

Year	Value
2017	US$ 53,679.3 million
2022	US$ 67,950.6 million
2023	US$ 70,985.9 million
2033	US$ 1,10,238.93 million

Category-wise Insights

Year	Value
2017	US$ 1,41,594.2 million
2022	US$ 1,72,145 million
2023	US$ 1,78,692.7 million
2033	US$ 2,59,465.93 million

Year	Value
2017	US$ 1,51,351.8 million
2022	US$ 1,88,114.3 million
2023	US$ 1,96,117.6 million
2033	US$ 2,95,933.25 million

Year	Corrugated Boxes’ Value
2017	US$ 88,673.1 million
2022	US$ 1,07,925.6 million
2023	US$ 1,11,983.3 million
2033	US$ 1,61,042.62 million

Year	Value
2017	US$ 1,50,665.2 million
2022	US$ 1,85,397.2 million
2023	US$ 1,92,757.9 million
2033	US$ 2,85,328.78 million

According to Cognitive Market Research, The Global Paper packaging market size is USD 385.5 billion in 2023 and will expand at a compound annual growth rate (CAGR) of 5.0% from 2023 to 2030.

The demand for paper packaging is rising due to the numerous strategies adopted by key participants.
Demand for secondary packaging remains higher in the paper packaging market.
The food packaging category held the highest paper packaging market revenue share in 2023.
Asia Pacific paper packaging will continue to lead, whereas the European paper packaging market will experience the most substantial growth until 2030.

Increasing Demand for Sustainable & Eco-Friendly Packaging Solutions to Provide Viable Market Output

Consumers are becoming aware of environmental impact of packaging materials, like plastic, and are looking for alternatives that are biodegradable, recyclable, and made from renewable resources. Paper packaging fits these criteria, as it is lightweight, biodegradable, and easily recycled. This has led to a shift towards paper packaging, making it an essential component of sustainable packaging solutions.

For instance, in 2019, BillerudKorsnäs launched a new paper-based packaging material called Pure Performance, which offers high strength and durability for heavy-duty packaging applications.

(Source: packagingsouthasia.com/type-of-packaging/corrugation/billerudkorsnas-performance/)

E-Commerce and Online Retail Stores to Propel Market Growth

With rise of e-commerce and online retailing, there is a greater need for packaging that can protect products during shipping and handling. Corrugated boxes, paper bags, and other paper packaging products are lightweight and can be customized to meet specific product needs, making them a popular choice for e-commerce packaging. Additionally, e-commerce companies are often looking for cost-effective packaging solutions, and paper packaging can provide a cost-effective option.

For instance, in 2019, Mondi launched a new range of paper-based packaging products for the e-commerce industry, including a fully recyclable and biodegradable mailer bag.

(Source: www.mondigroup.com/news-and-insight/2023/uk-food-market-first-as-mondi-launches-new-recyclable-paper-based-packaging-with-veetee/)

Market Dynamics of the Paper Packaging

Competition from Other Materials and Fluctuations in Raw Material Prices to Restrict Market Growth

While the paper packaging market has significant potential for growth, there are some key restraints that could limit its expansion. One of the primary challenges is competition from other materials that offer similar benefits, such as bioplastics and other bio-based materials. These materials are constantly being developed and improved, which could limit future paper packaging growth. In addition, fluctuations in raw material prices can impact the cost-effectiveness of paper packaging solutions and make them less competitive than other packaging materials. Recycling challenges can also limit the effectiveness of paper packaging as a sustainable and environmentally friendly packaging solution, as contaminated paper may not be suitable for recycling. Finally, technological limitations may also pose a challenge, as some product-specific packaging needs may require materials with specific properties that cannot be easily achieved with paper packaging. Despite these restraints, the growing demand for sustainable and eco-friendly packaging solutions is expected to continue driving growth in the paper packaging industry.

Impact of COVID–19 on the Paper Packaging Market

The COVID-19 pandemic has had a major impact on the paper packaging market, both in the short and long term. With consumers becoming more cautious about hygiene and safety, there has been a surge in demand for packaged goods, particularly in food and healthcare sectors. This has led to increased demand for paper packaging products, like corrugated boxes, paper bags, and cartons. At the same time, disruptions to global supply chains caused by the pandemic have led to raw material shortages and price fluctuations, which have affected the paper packaging industry. The closure of manufacturing plants, transportation restrictions and reduced workforce capacity have also impacted the production and distribution of paper packaging products. However, the pandemic has also highlighted the importance of...

The statistic shows the forecasted growth of the packaging market in the Asia Pacific region between 2014 and 2018, by material. Between that period, the forecasted growth of the flexible packaging market is expected to increase 5.72 percent

The globalindustrial electronics packaging marketis estimated to attain US$ 1,944.9 million in 2023. The market is projected to witness expansion at a CAGR of 4.1% through 2033, eventually leading up to US$ 2,906.73 million by 2033.

Attributes	Details
Industrial Electronics Packaging Market Size (2023)	US$ 1,944.9 million
Estimated Market Worth (2033)	US$ 2,906.73 million
Global Market Growth (2023 to 2033)	4.1% CAGR
Dominant Material for Packaging Industrial Electronic Products	Plastic

Dive Deep into Regional Markets

North America Market Size (2023)	US$ 672.1 million
Estimated CAGR (2023 to 2033)	3.9%

Latin America Market Size (2023)	US$ 116.7 million
Estimated CAGR (2023 to 2033)	2.7%

Europe Market Size (2023)	US$ 578.3 million
Estimated CAGR (2023 to 2033)	4.2%

South Asia Market Size (2023)	US$ 202.8 million
Estimated CAGR (2023 to 2033)	4.9%

East Asia Market Size (2023)	US$ 296.4 million
Estimated CAGR (2023 to 2033)	4.4%

Oceania Market Size (2023)	US$ 15.4 million
Estimated CAGR (2023 to 2033)	2.9%

Middle East and Africa Market Size (2023)	US$ 63 million
Estimated CAGR (2023 to 2033)	2.5%

Country-wise Analysis

Years	Values
2018	US$ 544.4 million
2022	US$ 634.9 million
2023	US$ 659.9 million
2033	US$ 967.46 million

Historical CAGR (2017 to 2022)	3.6%
Forecast CAGR (2023 to 2033)	3.9%

Years	Values
2018	US$ 106.8 million
2022	US$ 129 million
2023	US$ 135.4 million
2033	US$ 220.55 million

Historical CAGR (2017 to 2022)	4.3%
Forecast CAGR (2023 to 2033)	5%

Category-wise Analysis

Years	Values
2018	US$ 916.4 million
2022	US$ 1,079.7 million
2023	US$ 1,128 million
2033	US$ 1,718.51million

Historical CAGR (2017 to 2022)	3.7%
Forecast CAGR (2023 to 2033)	4.3%

Rigid Format - Subsegments	CAGR
Corrugated Box	3.2%
Containers	4%
Protective Packs	4.2%
Trays	5.2%
Clamshells	4.8%
Bins and Totes	3.8%

Flexible Format - Subsegments	CAGR
Bags and Pouches	4.5%
Tapes and Labels	5%
Films and Others	5.4%

The global flexible packaging market size reached USD 141.03 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 242.85 Billion by 2033, exhibiting a growth rate (CAGR) of 3.51% during 2025-2033. The market is witnessing stable growth due to increasing focus on maintaining environmental sustainability, rising need for enhanced convenience, and technological advancements, such as superior barrier properties to extend the shelf life of various products.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Size in 2024	USD 141.03 Billion
Market Forecast in 2033	USD 242.85 Billion
Market Growth Rate 2025-2033	3.51%

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global and regional levels for 2025-2033. Our report has categorized the market based on product type, raw material, printing technology, and application.

The global PET packaging market size reached USD 81.5 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 117.1 Billion by 2033, exhibiting a growth rate (CAGR) of 4.1% during 2025-2033. The increasing popularity of different-sized and customized packs for brand differentiation, coupled with the escalating usage of eco-friendly products, is primarily driving the market.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Size in 2024	USD 81.5 Billion
Market Forecast in 2033	USD 117.1 Billion
Market Growth Rate (​​​​​​​2025-2033)	4.1%

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global and regional levels for ​​​​​​​2025-2033. Our report has categorized the market based on the packaging type, form, pack type, filling technology, and end-user.

The GCC Packaging Market size is estimated to grow at a CAGR of around 4.3% during the forecast period 2024–30. The market growth imputes the increased demand for packaged goods across various sectors such as food and beverages, pharmaceuticals, personal care products, etc.

According to Cognitive Market Research, the global Sustainable Packaging Market size will be USD 306200 million in 2025. It will expand at a compound annual growth rate (CAGR) of 7.90% from 2025 to 2033.

North America held the major market share for more than 40% of the global revenue with a market size of USD 122480.00 million in 2025 and will grow at a compound annual growth rate (CAGR) of 6.1% from 2025 to 2033.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 91860.00 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 70426.00 million in 2025 and will grow at a compound annual growth rate (CAGR) of 9.9% from 2025 to 2033.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 15310.00 million in 2025 and will grow at a compound annual growth rate (CAGR) of 7.3% from 2025 to 2033.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 6124.00 million in 2025 and will grow at a compound annual growth rate (CAGR) of 7.6 % from 2025 to 2033.
The Paper & Paperboard category led the Sustainable Packaging Market.

Market Dynamics of Sustainable Packaging Market

Key Drivers for Sustainable Packaging Market

Rising Demand for Biodegradable and Compostable Packaging to Boost Market Growth

Growing consumer awareness of environmental issues is driving up demand for compostable and eco-friendly packaging options. Because they divert a significant amount of plastic waste from landfills and waterways, compostable packaging options are crucial. Additionally, it lowers organics' greenhouse gas emissions. From eco-friendly and biodegradable packaging options to renewable materials, businesses are searching for methods to reduce their carbon footprint and meet the growing demand for sustainable product packaging. Such factors are regarded as the significant global drivers for Sustainable Packaging market growth. In addition, the increased demand for biodegradable packaging solutions also propels market growth. Such packing lowers the carbon emissions and environmental pollutants. Because they are made from renewable resources and are thought to be more sustainable, biodegradable packaging materials are in high demand and are propelling the industry forward.

Increased Utilization of Recycled Plastic Packaging to Drive Market Growth

Manufacturers and customers now demand more packaging made of recycled plastic. Since recycled plastic packaging is better for the environment than conventional plastic packaging, it is imperative. Because it can be reused for various packaging products, it has a far lower carbon footprint than producing new plastic. Because the material is so resistant to heat and chemicals, it is also becoming increasingly popular in the food and beverage industries. This makes it a great option for food storage and for use in freezers, refrigerators, and microwaves. Furthermore, compared to conventional plastic packaging, these materials are more economical and environmentally friendly due to their reduced production costs.

Restraint Factor for the Sustainable Packaging Market

High prices and a shortage of raw materials, will Limit Market Growth

The supply chain is hampered by the inconsistent and limited availability of Sustainable Packaging materials, which further limits market expansion. Due to the restricted supply of raw materials, manufacturers find it challenging to manage their production schedules and satisfy consumer expectations drives up costs. Additionally, it limits manufacturers' ability to be creative and flexible when constructing their packaging products. Furthermore, many businesses, particularly small ones, may find it costly to convert from conventional to environmentally friendly packaging. Therefore, the high price of environmentally friendly packaging could impede market expansion. Furthermore, certain packaging types might not meet the standards or specifications of particular end-use industries, which could impede the expansion of the market.

Market Trends in Sustainable Packaging Market

Growing consumer and company awareness of environmental issues

Growing consumer and company awareness of environmental issues is one of the main drivers of the Sustainable Packaging market's expansion. Businesses are concentrating ...

The global MENA industrial packaging market size is expected to be valued at US$ 4.8 billion in 2023. Advancements in packaging automation, bolsters the overall scope for MENA industrial packaging market, which is projected to grow at a CAGR of 7.0% between 2023 and 2033, totaling around US$ 9.4 billion by 2033.

Data Points	Key Statistics
MENA Industrial Packaging Market Value 2023	US$ 4.8 billion
MENA Industrial Packaging Market Projected Value (2033)	US$ 9.4 billion
MENA Industrial Packaging Market CAGR (2023 to 2033)	7.0%

Scope of the Report

Attribute	Details
Forecast Period	2023 to 2033
Historical Data Available for	2018 to 2022
Market Analysis	USD Million for value and Tons for Volume
Key Regions Covered	North America, Latin America, Western Europe, Eastern Europe, East Asia & Pacific, South Asia, and Middle East & Africa
Key Countries Covered	United States, Canada, Brazil, Mexico, Germany, UK, France, Spain, Italy, Poland, Russia, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC Countries, South Africa, Israel.
Key Segments Covered	Product, Material, Packaging, End-Use Industry, and Region
Key Companies Profiled	Nampack Takween Advanced Industries Greif, Inc. PETRO Industrial Pty Ltd. Time Technoplast Ltd. Mauser Group B.V. Gulf Plastic Industries Company SAOG Clouds Drums L.L.C.
Report Coverage	Market Forecast, brand share analysis, competition intelligence, DROT analysis, Market Dynamics and Challenges, Strategic Growth Initiatives
Customization & Pricing	Available upon Request

Snapshot img

Converted Flexible Packaging Market Size 2024-2028

The converted flexible packaging market size is forecast to increase by USD 14 million at a CAGR of 2.5% between 2023 and 2028.

The market is experiencing significant growth due to various factors. One major trend driving market expansion is the shift from traditional rigid packaging to more flexible alternatives. Flexible packaging offers numerous benefits, including lighter weight, improved product protection, and enhanced branding capabilities. Additionally, advancements in recycling technologies and government initiatives to reduce packaging waste are boosting the market. However, stringent regulations on the manufacture of converted flexible packaging present challenges for market growth. Compliance with these regulations requires significant investment in technology and resources, which can increase production costs. Despite these challenges, the market is expected to continue expanding as consumers and businesses seek more sustainable and cost-effective packaging solutions.

What will be the Size of the Converted Flexible Packaging Market During the Forecast Period?

Request Free SampleThe market encompasses a diverse range of applications, primarily In the food and beverage, health and beauty, and consumer goods industries. This market's growth is driven by the demand for innovative, user-friendly, and sustainable packaging solutions. High-barrier packaging materials, such as polyesters, plastics, and aluminum foil, are increasingly popular due to their ability to extend shelf life and maintain product freshness. Single-use packaging, including pouches and bags, continues to gain traction in e-commerce and convenience sectors. Auto-venting films and other advanced technologies further enhance the functionality and appeal of converted flexible packaging. The market's size is significant, with continued growth expected due to rising consumer preferences for convenient, portable, and sustainable packaging options.Additionally, sectors like pharmaceuticals and meat products are increasingly adopting converted flexible packaging for their unique requirements. Packaging materials, including adhesives and paperboard, play a crucial role in ensuring the integrity and functionality of these solutions. Overall, the market is a dynamic and evolving landscape, driven by consumer trends and the ongoing pursuit of efficient, effective, and eco-friendly packaging solutions.

How is this Converted Flexible Packaging Industry segmented and which is the largest segment?

The converted flexible packaging industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments. ProductPouchesBagsOthersGeographyAPACChinaEuropeGermanyUKNorth AmericaCanadaUSSouth AmericaMiddle East and Africa

By Product Insights

The pouches segment is estimated to witness significant growth during the forecast period. Pouches are a popular packaging solution for various industries, including food and beverage, health and beauty, and consumer goods. Among the different types of pouches, stand-up pouches have gained significant traction due to their eye-catching shelf appeal and ease of use. These pouches offer multiple barrier layers, ensuring extended product shelf life and protection against moisture, dirt, and bacteria. Available in various sizes, stand-up pouches are suitable for packaging dry food, candies, confectioneries, agriculture products, and liquids. The convenience of stand-up pouches, which allow for an airtight closure and easy stacking, makes them a preferred choice over other types of pouch packaging.High-barrier materials, such as polyesters, metallocene resins, and plastic, are commonly used In the production of stand-up pouches. Innovative packaging techniques, such as auto-venting films and zippered bags, are also being adopted to enhance the functionality and user-friendliness of these pouches. The market for converted flexible packaging, which includes pouches, bags, and sacks, is expected to grow due to increasing consumer demand for sustainable and convenient packaging solutions. Additionally, the rise in e-commerce sales and the growing popularity of perishable products, such as meat and seafood, are expected to drive the demand for high-barrier packaging materials.

Get a glance at the market report of various segments Request Free Sample

The Pouches segment was valued at USD 38.50 million in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 50% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

For

The global food packaging market size is expected to increase from US$ 353.7 billion in 2023 to US$ 592.8 billion by 2033. In 2022, the worldwide food packaging industry was valued at US$ 335.9 billion. Over the forecast period from 2023 to 2033, global food packaging sales are anticipated to rise at 5.3% CAGR.

Attributes	Key Insights
Estimated Food Packaging Market Value (2023)	US$ 353.7 billion
Projected Market Size (2033)	US$ 592.8 billion
Value-based CAGR (2023 to 2033)	5.3%
Collective Value Share: Top 5 Countries (2022A)	25% to 35%

Country-wise Insights

Country	United States
Market Share (2023)	13.4%
Market Share (2033)	12.4%
BPS Analysis	-100

Country	China
Market Share (2023)	10.7%
Market Share (2033)	12.0%
BPS Analysis	130

Country	India
Market Share (2023)	8.6%
Market Share (2033)	9.2%
BPS Analysis	60

Country	Germany
Market Share (2023)	12.7%
Market Share (2033)	18.8%
BPS Analysis	610

Country	Japan
Market Share (2023)	4.5%
Market Share (2033)	4.6%
BPS Analysis	10

Scope of the Report

Attribute	Details
Estimated Market Value (2023)	US$ 353.7 billion
Projected Market Value (2033)	US$ 592.8 billion
Anticipated Growth Rate (2023 to 2033)	5.3% CAGR
Historical Data	2018 to 2022
Forecast Period	2023 to 2033
Quantitative Units	Revenue in US$ Million, Volume in Units and CAGR from 2023 to 2033
Report Coverage	Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis
Segments Covered	Material Packaging Application Region
Key Countries Covered	North America Latin America East Asia South Asia & Pacific Western Europe Eastern Europe Central Asia Russia & Belarus Balkan Countries & Baltic Countries Middle East & Africa
Key Companies Profiled	Mondi Group Berry Global Group Tetra Laval International SA Amcor plc DS Smith plc Stora Enso Oyj Plastipak Packaging Inc. Crown Holdings Inc. Graham Packaging Company Sealed Air Corporation Westrock Company Ball Corporation International Paper Company Constantia Flexibles Group GmbH Smurfit Kappa plc Ardagh Group SA. UPM-Kymmene Corp Reynolds Packaging

The Industrial Packaging Market Report is Segmented by Product (Intermediate Bulk Containers (IBCs), Sacks, Drums, Pails, and Other Products), End-User Industries (Automotive, Food and Beverage, Chemicals and Pharmaceuticals, Oil, Gas, and Petrochemical, Building and Construction, and Other End-User Industries), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America). The Market Size and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

The global smart packaging market is poised to grow from USD 30.44 billion in 2024 to USD 65.73 billion by 2037, reflecting a CAGR of more than 6.1% during the forecast period, from 2025 to 2037. Key industry players include 3M, Avery Dennison Corporation, Ball Corporation, BASF SE, among others.

The global intelligent packaging market is expected to account for US$ 23.6 billion in 2023. Total demand for intelligent packaging will rise at 9.0% between 2023 and 2033. By the end of 2033, the global intelligent packaging industry size is set to reach US$ 56.0 billion.

Intelligent packaging sales will accelerate at a robust pace over the next ten years. In 2022, top held nearly 35 to 40% of the market.

Attributes	Key Insights
Intelligent Packaging Market Estimated Market (2023)	US$ 23.6 billion
Projected Market Value (2033)	US$ 56.0 billion
Value-based CAGR (2023 to 2033)	9.0%
Collective Value Share: Top 5 Companies (2022A)	20% to 25 %

H1 to H2 Update

Market Statistics	Details
Jan to Jun (H1), 2021 (A)	9.1%
Jul to Dec (H2), 2022 (A)	8.8%
Jan to Jun (H1), 2022 Projected (P)	8.7%
Jan to Jun (H1), 2022 Outlook (O)	9.5%
Jul to Dec (H2), 2022 Outlook (O)	9.5%
Jul to Dec (H2), 2022 Projected (P)	9.0%
Jan to Jun (H1), 2023 Projected (P)	9.2%
BPS Change: H1, 2022 (O) to H1, 2022 (P)	80 ↑
BPS Change: H1, 2022 (O) to H1, 2021 (A)	40 ↑
BPS Change: H2, 2022 (O) to H2, 2022 (P)	50 ↑
BPS Change: H2, 2022 (O) to H2, 2022 (A)	70 ↑

Country-wise Insights

Country	USA
Market Share (2023)	22.6%
Market Share (2033)	22.2%
Basis Points (BPS) Analysis	-40

Country	Japan
Market Share (2023)	10.0%
Market Share (2033)	12.0%
Basis Points (BPS) Analysis	+210

Country	Germany
Market Share (2023)	7.3%
Market Share (2033)	6.1%
Basis Points (BPS) Analysis	-120

Country	United Kingdom
Market Share (2023)	5.9%
Market Share (2033)	5.8%
Basis Points (BPS) Analysis	-10

Country	Italy
Market Share (2023)	5.1%
Market Share (2033)	4.8%
Basis Points (BPS) Analysis	-30