20 Biggest Packaging Companies in the US
In this article, we take a look at the 20 biggest packaging companies in the US. You can skip our detailed analysis of the packaging industry and go directly to the 5 Biggest Packaging Companies in the US.
The biggest packaging companies in the US are mostly publicly traded firms with an average market capitalization of $12.6 billion.
Latest Developments in the Packaging Industry
Packaging is a rapidly evolving industry that caters to multiple sectors of the manufacturing industry, such as food and beverages, pharmaceuticals, and mobile phones. The latest challenge for packaging companies is improving sustainability by minimizing their non-recyclable waste. In this context, Nestlé has taken the initiative of replacing plastic with paper-based packaging and has aimed to reduce its usage of virgin plastics by one-third by 2025, thus garnering a lot of support from activist groups and eco-conscious consumers.
Product packaging, if done rights, also plays a pertinent role in establishing a positive brand image, which influences customers’ purchase decisions and generates sale revenue for companies. Because of this, major product manufacturing companies are using personalized packaging solutions to establish unique brand recognition and drive brand loyalty. For example, the Coca Cola Company (NYSE:KO) is now using QR codes on its bottles to help customers stay connected with the brand.
Various other firms at the Paris Packaging Week 2023 have also announced their plans to switch to smart packaging by inculcating temperature and humidity sensors for better storage, and personalized QR codes to help customers gauge the authenticity and specifications of each product.
Outlook of the Packaging Industry
In 2023, the total market capitalization of packaging companies in the United States is calculated to be $142.6 billion. The US packaging industry is expected to grow at a rate of 3.5% each year upto 2025. Globally, it is expected to grow at a compound annual rate of 3.94% between 2022 and 2027, resulting in an increase of $223.9 billion in its market size. The largest market for packaging products is in the Asia-Pacific region.
By 2030, it is expected to grow up to $1.13 trillion, which will be supported primarily by the increasing global rise of e-commerce. The e-commerce industry is expected to grow at a compound annual rate of 4.3% until 2030, which will increase the demand for packaging supplies and facilities worldwide.
One of the fastest-growing subsets of the packaging industry is the flexible packaging sector, which deals with plastic and paper products. Driven by increasing demand for packaged food and beverages, the flexible packaging market is expected to grow to $373 billion in 2030.
Copyright: kurga / 123RF Stock Photo
Our Methodology
For our list of the 20 biggest packaging companies in the US, we picked the top names from Packaging Gateway and Insider Monkey’s lists of the leading firms in the US packaging industry. To rank these companies in increasing order of their 2022 revenue.
Here are the 20 biggest packaging companies in the US:
20. Reynolds Consumer Products Inc. (NASDAQ:REYN)
2022 Revenue: $3.82 billion
Reynolds Consumer Products Inc. (NASDAQ:REYN) is a renowned brand for packaging products that has a presence in 95% of homes across the US. Its products include plastic wraps, aluminum foil, and oven bags. Originally incorporated as a privately traded company in 2011, Reynolds Consumer Products Inc. (NASDAQ:REYN) became a publicly listed company in 2020 at $26 per share.
19. Sealed Air Corporation (NYSE:SEE)
2022 Revenue: $5.64 billion
Sealed Air produces packaging materials and equipment for customers and also provides packaging services for businesses. Its founders created the first Bubble Wrap that, along with Cryovac food packaging, is among the signature products of the company. The paper products sold by Sealed Air have renewable fiber and are manufactured entirely out of recycled material.
18. Greif, Inc. (NYSE:GEF)
2022 Revenue: $6.05 billion
Greif, Inc. manufactures products and provides services pertaining to industrial packaging. Its popular products are steel drums, jerrycans, and plastic containers. The brand has set its sustainability targets to be achieved by 2030. These include reducing its greenhouse gas emissions by 28% and making all of its products recyclable. Grief, Inc. has expanded its operations to North America by acquiring Centurion, an intermediate bulk container company, for $145 million.
17. Pactiv Evergreen Inc. (NASDAQ:PTVE)
2022 Revenue: $6.22 billion
Pactiv Evergreen manufactures and supplies food packaging products to supermarkets, restaurants, and food service companies across the US and Canada. The company aims to improve its sustainability by manufacturing its products entirely out of recycled, recyclable, or renewable raw materials by 2030.
16. Silgan Holdings Inc. (NYSE:SLGN)
2022 Revenue: $6.41 billion
Silgan Holdings mainly manufactures rigid packaging products such as metal cans, closures, and metal food containers for famous food and consumer goods companies across the world. Within the industry, Silgan Holdings is known for being one of the lowest-cost producers of rigid packaging, which also makes its products the most affordable among its competitors.
15. O-I Glass, Inc. (NYSE:OI)
2022 Revenue: $6.85 billion
O-I Glass, Inc. (NYSE:OI) is among the leading firms that produce glass bottles and containers across the world. By 2024, O-I Glass, Inc. (NYSE:OI) is set to establish a new MAGMA-powered glass manufacturing facility in Kentucky, which will improve glass production while reducing the organization’s environmental footprint.
14. Veritiv Corporation (NYSE:VRTV)
2022 Revenue: $7.14 billion
Veritiv Corporation is a B2B packaging manufacturer and supplier organization that sells e-commerce, food, healthcare, and hygiene packaging solutions virtually all over the Americas. This Georgia-based Fortune 500 company is reducing its impact on the environment by exploring the use of Electric Trucks for transport and making industrial collaborations to introduce sustainable packaging.
13. Sonoco Products Company (NYSE:SON)
2022 Revenue: $7.25 billion
Sonoco manufactures a diverse range of packaging products that are sold in 85 countries across the world. It provides solutions for consumer products packaging, protective packaging, and healthcare packaging, and also manufactures industrial products such as adhesives, cartridges, and tubes.
12. Packaging Corporation of America (NYSE:PKG)
2022 Revenue: $8.47 billion
Packaging Corporation of America is one of the largest companies that specializes in manufacturing containerboard material and corrugated products for packaging. Packaging Corporation’s total production of containerboard amounted to 4.6 million tonnes in 2022, and the company earned a net sales revenue of $8.5 billion.
11. Avery Dennison Corporation (NYSE:AVY)
2022 Revenue: $9.04 billion
Avery Dennison is an Ohio-based company that manufactures packaging products, adhesive material, and medical polymers in more than 50 countries around the world. To reduce its environmental footprint, the company has recently developed an adhesive solution that allows certain polymers of different chemical compositions to be recycled easily at the same time.
10. Graphic Packaging Holding Company (NYSE:GPK)
2022 Revenue: $9.44 billion
Graphic Packaging Holdings Company specializes in manufacturing and supplying paperboard packaging materials to beverage producers and consumer product companies across the world. Its products are mainly fiber-based and range from lightweight folding cartons and foodservice packaging solutions to heavyweight cartons used for strength packaging.
9. Owens Corning (NYSE:OC)
2022 Revenue: $9.76 billion
Owens Corning (NYSE:OC) is a leading manufacturer of insulation, roofing, and fiberglass products. The company also produces protective packaging solutions for wood and metal products, which are supplied across North America, Europe, and Asia. As part of its sustainability initiative, Owens Corning (NYSE:OC) has announced its plan of recycling and processing two million tonnes of roof shingles which are dumped in landfills every year.
8. Crown Holdings, Inc. (NYSE:CCK)
2022 Revenue: $12.94 billion
Crown Holdings manufactures metal packaging solutions for companies belonging to the food, beverage, and aerosol industries. It also offers a broad range of transit packaging services to industries, which include packing, bundling, unitizing, warehousing, and transporting products in 23 countries.
7. Berry Global Group, Inc. (NYSE:BERY)
2022 Revenue: $14.5 billion
Berry Global Group mainly produces plastic packaging items ranging from jerrycans and jars to cups, tubes, and trays. In order to encourage industrial collaboration for improving sustainability in packaging, the company has established an innovation facility in Spain. Berry Global has also received recognition from Carbon Disclosure Project for its commitment to making packaging sustainable and combatting climate change.
6. Amcor plc (NYSE:AMCR)
2022 Revenue: $14.97 billion
Amcor plc is a producer of diversified packaging products including rigid containers, flexible material, and closures, which are supplied to companies in the pharmaceutical, personal care, and food and beverage industries. While the company is headquartered and publicly listed in Australia, it got dual-listed on New York Stock Exchange in 2019.
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Disclosure: none. 20 Biggest Packaging Companies in the US is originally published on Insider Monkey.