The Global Packaging M&A market achieved its third consecutive year of growth in 2025 with 344 transactions, up 22 deals from 2024. Activity began with significant momentum in Q1 with 103 deals, marking the most active quarter for the industry since Q4 2021. Despite a Q2 dip to 70 deals, volume stabilized throughout the second half of the year. Notably, Food & Beverage experienced its most active year since 2021 with 114 deals, capturing 33% of total annual volume and surpassing the Industrial sector as the most active end market for the first time in four years. This year’s strong performance provides optimism heading into 2026 for a projected fourth year of growth in the M&A market.
Key trends in Global Packaging M&A in 2025 include:
- Packaging M&A activity started the year on a strong note, recording 103 deals in Q1 2025, which was 22 deals above the quarterly average recorded in 2024. The uptick in volume to start the year was primarily attributable to the Printing & Labels subsector, which announced 22 transactions in Q1 2025, marking a high that is eight deals above the second-highest quarter recorded since PMCF began tracking the industry
- Strategic buyers continued to account for over half of total deal activity in the packaging space, recording 178 deals in 2025. This marks the second consecutive year where this buyer type exceeded 50%, a trend not seen since 2019 and 2020
- The Printing & Labels and Rigid Packaging subsectors supported growth in 2025, with total deal volume increasing by 16 and 9 deals, respectively. Conversely, the Machinery & Equipment subsector saw the largest decline in 2025 with 23 total deals, a decrease of seven deals following record activity in 2024
- Buyers showed strong interest in premium Rigid Packaging assets, as platform deals in the subsector reached 25 for the year. This represents the highest annual volume since PMCF began tracking the index. Strategic buyers mirrored this trend within the Printing & Labels subsector, recording a record high 28 deals in 2025
Overall, Global Packaging M&A maintained its upward trajectory in 2025, continuing to build toward the record highs in 2021. While the market moved at a more measured pace than some of the early year forecasts suggested, the year was defined by a robust and healthy consistency, a stability largely absent in the volatile years following the COVID-19 pandemic. As we enter 2026, the sector is well-positioned to leverage this momentum for another strong year of packaging M&A.
Read Packaging M&A Pulse – 2025 Year in Review Full Report
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