Board Packaging Market Size, Trends, Shares, Insights and, Forecast - 2027Posted by Pallavi Reddy on December 1st, 2020 Paper and board are made from natural fibers which are recyclable. Carton boxes are effective packaging solution, which offers protection against breakage and damage during transit or storage. This packaging has application in various end-use industries such as food and beverages, electronics, consumer goods, healthcare, and personal care and cosmetic industry. Top Keyplayers in this Market are as follows: International Paper Company, The Smurfit Kappa Group plc, WestRock Company, Cascades Inc., Amcor plc., Graphic Packaging International, LLC, Stora Enso OYJ, All Packaging Company, and Georgia-Pacific. Market Dynamics:- Rising government support for e-Commerce or online retailing fueled demand for board packaging across the globe in 2018. According to the data provided by the US Department of Commerce and International Trade Administration, in 2016, the Malaysian Ministry of International Trade and Industry (MITI) launched a new e-Commerce initiative, in order to focus on small and medium-sized enterprises under e-Commerce and to expand market access for over 87 million digital customers in ASEAN region.
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Market Outlook:- Europe accounted for significant market share in the global board packaging market in 2018, owing to new product launches of board packaging by key players to strengthen their position in the market. For instance, in 2019, Smurfit Kappa Company launched new corrugated board range named as TopClip for beverages in the market. The new TopClip features two die-cut holes so it can be handled easily in store. The product is specially designed to replace single use plastic for bundling canned and bottled beverages. It is plastic-free and 100% recyclable, renewable, and biodegradable. Key Developments:- Key players are adopting various in-organic growth strategies such as new product launches, mergers and acquisitions, partnerships, and collaborations, in order to gain market share in the global board packaging market. For instance, in 2019, the U.S based company True Salt launched recyclable cardboard box for retail and hospitality product distribution. The new three-pound box is made for retail and hospitality product distribution. The company has selected 100% recyclable cardboard for its packaging. The company offers a range of salts including flake salts and cocktail salt for beverages. About Coherent Market Insights: Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity. Contact Us: Mr. Shah Like it? Share it! More by this author |