The European packaging market has entered 2026 with improving earnings visibility, stabilising demand, and renewed confidence in M&A activity.
As market conditions normalise, businesses are shifting focus from margin recovery to growth, investment and long-term value creation.
Where the market is moving
M&A activity is strongest in flexible and rigid packaging, while labels and speciality packaging continue to attract buyers seeking higher-value, differentiated applications. Across the market, businesses with strong customer relationships, technical expertise, healthcare exposure, and sustainability-led innovation are commanding the greatest interest and the strongest valuations.
The trends defining the packaging sector
- Market conditions have improved, supported by easing inflation, stable input costs, and resilient demand across food and beverage, healthcare, and consumer markets
- Strategic buyers remain highly active, driving consolidation, geographic expansion, and capability enhancement across fragmented packaging sectors
- Valuations have stabilised as earnings visibility improves and confidence returns to the market, creating a more predictable environment for buyers and sellers alike
- Healthcare and pharmaceutical packaging attract the strongest investor interest, underpinned by structural growth, regulatory barriers, and pricing resilience
- Sustainability remains a defining investment driver, shaping innovation across fibre-based, flexible, and rigid packaging, and increasingly influencing acquirer selection criteria
Where the market is moving
M&A activity is strongest in flexible and rigid packaging, while labels and speciality packaging continue to attract buyers seeking higher-value, differentiated applications. Across the market, businesses with strong customer relationships, technical expertise, healthcare exposure, and sustainability-led innovation are commanding the greatest interest and the strongest valuations.
Unlock insights across Europe's packaging market
Discover detailed insights into market trends, valuation developments, M&A activity, and opportunities across rigid packaging, flexible packaging, paper and cardboard, labels, as well as speciality packaging throughout Europe.
Our packaging transactions
Our transactions reflect not only our sector expertise but our ability to identify the right strategic partners across Europe’s highly fragmented packaging landscape.
Vertical integration expanding the value chain in environmental services
Adviser to Playdesa on its sale to Valtalia
Strategic divestment to boost leading cosmetic group in its core market
Adviser to Lumson on the sale of its subsidiary Marino Belotti to Alcedo
Neatly packaged deal for a manufacturer of corrugated cardboard and solid board packaging solutions
Adviser to Atlantic Box on its acquisition of CST
Milestone acquisition to become the third largest player in the European white-lined chipboard market
Adviser to WEIG on its acquisition of Buchmann
Our European packaging team
Our dedicated packaging team brings together sector specialists from across Europe, combining local market knowledge with extensive cross-border transaction experience across flexible packaging, rigid packaging, labels, speciality packaging, and industrial packaging.
Marie-Charlotte Bonnemay
Partner +33 7 86 21 72 49 marie-charlotte.bonnemay@clearwatercf.com Connect
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