Fiber based Packaging Market: Trends, outlook and Opportunity Analysis
Posted by Kishor on June 19th, 2019
The global fiber based packaging is witnessing steadfast growth over the past few decades owing to the numerous applications of fiber based packaging across several end-use industries. The fiber based packaging market is primarily driven by the growth of the packaging industry and shift in consumer preference for eco-friendly packaging solutions.
A report by Transparency Market Research (TMR) projects the global fiber based packaging market to expand at a CAGR of 3.8% in terms of revenue between 2017 and 2025. At the pace, the market’s valuation of US4 bn in 2016 will become US3.5 bn by the end of 2025.
Corrugated Packaging to Register Leading Revenue Contribution through 2025
The report segments the global fiber based packaging market by packaging type into corrugated boxes, cartons, partition & inserts, bottles & cup carriers, trays, plates, clamshells, display packaging, and bags and sacks. Of these, corrugated boxes segment dominate the market with an estimated share of more than 45% in the overall market by value. This is because corrugated boxes are ideally suited for primary and secondary packaging needs and are mainly used in transit packaging across several industry sectors.
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By end-use industry, the fiber based packaging market has been segmented into food packaging, beverages packaging, tobacco packaging, healthcare packaging, personal care & cosmetics, homecare & toiletries, electrical & electronics, e-commerce packaging, chemical & fertilizer, and other industrial packaging. Amongst them, the segment of food packaging holds dominance with close to 40% share in the overall market by value.
The global fiber based packaging market has been segmented into virgin and recycled by material source. Recycled fiber segment is likely to dominate accounting for almost three-fourth revenue contribution to the market. The segment is likely to expand at a CAGR of 3.9% in terms of value over the forecast period.
Key players in the global fiber based packaging market include International Paper Company, DS Smith plc, Huhtamaki Oyj, Smurfit Kappa Group plc., Sonoco Products Company, WestRock Company, Georgia-Pacific LLC, Pratt Industies Inc., Reynolds Group Holdings Ltd., U.S. Corrugated Inc., UFP Technologies Inc., ESCO Technologies Inc. Ltd., Brodrene Hartmann A/S, KapStone Paper and Packaging, Mayr-Melnhof Karton AG, Rengo Co. Ltd., Mondi Group, Stora Enso, AR Packaging Group AB, and BillerudKorsnas AB.
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About the AuthorKishor
Joined: February 12th, 2019
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