Sep 22, 2020 6:00 AM ET
iCrowd Newswire – Sep 22, 2020
As per the new report published by Zion Market Research, the global paper packaging material market is presenting an extremely competitive landscape with the existence of a huge pool of partakers. Few of the key players in the paper packaging material market are Holmen AB, OJI Holding Corporation, MeadWestvaco Corporation, Georgia-Pacific Corporation, and DS Smith PLC. These industry players are concentrating robustly on innovation apart from incorporating new technologies in their existing solutions. Over the forecast period, they are also projected to go for mergers & acquisitions and partnerships as their key approach for business development.
In July 2018, for instance, Scania AB, the global transportation services provider, joined forces with a prominent corrugated packaging firm Smurfit Kappa for replacing few of the constituents utilized in logistics and supply chain with paper-created packaging materials. This step is projected to bring in new prospects to the transportation sector and is likely to drive the growth of the paper packaging material market growth in the coming period.
This review is based on a report by Zion Market Research, titled “Paper Packaging Material Market (Liquid Packaging Cartons, Corrugated Cases, Carton & Folding Boxes and Others) for Beverages, Fast Foods, Fresh Foods, Dairy & Bakery, Frozen Foods and Other Applications – Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021“- Report at https://www.zionmarketresearch.com/report/paper-packaging-material-market
The global paper packaging material market, as per the report, in 2015 was valued at US$ 286.61 Billion. Owing to a substantial growth prospect between 2015 and 2021, the market revenue is estimated to cross US$ 362.65 Billion by the completion of the forecast period. The key products accessible in paper packaging material market are corrugated cases, carton & folding boxes, liquid packaging cartons, and others. Among these, the requirement for liquid packaging cartons is comparatively greater and the trend is projected to stay so during next the coming years as well.
Extensive Need For Packaging Activities To Stimulate Market’s Growth
According to the analysts the growing environmental consciousness and huge application across cosmetics, pharmaceutical, and food & beverage sectors is projected to propel the growth of the paper packaging material market during the forecast period. Further, the rapid appearance of frozen food and fast food chains in the developing nations together with the widespread rise in packaging activities observed across a range of domains is likely to improve product popularity. Satisfactory product features like durability, cost-effectiveness, light-weightiness, eco-friendly nature, and non-toxicity will further speed up the expansion of the paper packaging material market.
Nevertheless, paper packaging material manufacturers might confront problems like deforestation that can probably hamper the growth of the paper packaging material market. However, the veto on the use of light plastic bags is anticipated to promote the need for the paper packaging material market in the near future, stabilizing the effect of obstructions in the paper packaging material market.
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Market Growth To Be Driven By Implementation Of Innovative Paper Packaging Techniques
Regionally, Asia Pacific has been dominating the global paper packaging material market and is projected to remain at top in the coming period as well. Innovations in several paper packaging techniques are the main reasons contributing to the supremacy of the Asia Pacific region in the paper packaging material market. In 2015, Asia Pacific, for the record, marked almost 35% share in the overall paper packaging material market. Also, Asia Pacific is expected to be trailed by North America and Europe during 2015 in the terms of growth.
The report segments the global paper packaging material market into:
Global Paper Packaging Material Market: Product Segment Analysis
- Liquid packaging cartons
- Corrugated cases
- Carton & folding boxes
- Others (Sacks, bags, etc.)
Global Paper Packaging Material Market: Application Segment Analysis
- Fast food
- Fresh food
- Dairy & bakery
- Frozen foods
- Others (Pet food, cosmetics, pharmaceuticals, etc.)
Global Paper Packaging Material Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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Keywords: Paper Packaging Material Market