Amcor PLC missed Wall Street estimates for quarterly revenue on Tuesday on weak demand for its containers and cartons from consumer goods companies amid a challenging macroeconomic environment.

Consumers have been pulling back on non-essential spending amid high inflation and low wage growth, forcing packaged goods companies to trim their inventories.

Weak demand for packaging from the healthcare industry and the beverage business in North America hit overall volumes by more than 1%, the company said.

The company, which supplies to consumer goods giants like PepsiCo and Procter & Gamble, reported a second-quarter revenue of $3.24 billion, missing the average of analysts' estimates of $3.35 billion, according to data compiled by LSEG.

The weak sales come on the back of comments from peers Packaging Corp of America and International Paper who posted disappointing fourth-quarter results last week.

Amcor's adjusted profit for the quarter was 16.1 cents per share, in line with market expectations.

The company reaffirmed its 2025 adjusted earnings per share forecast of 72 to 76 cents per share. The impact of its $8.43-billion deal for Berry Global was not factored in the outlook, Amcor said.