Service Packaging Market Is Estimated To Increase At A CAGR Of 5.2% till 2023Posted by sagark on October 30th, 2019 Service Packaging Market Overview The service packaging is meant to ensure the comfort of the end use customers by offering them a durable and convenient packaging. Market Research Future (MRFR) released a research report about the global service packaging market that estimates extension for this market at 5.2% CAGR between 2017 and 2023. The factors driving the growth of global service packaging market include convenience & durability about eco-friendly packaging, ease of online shopping, increasing awareness about eco-friendly packaging, increase in the disposable income & purchasing power of people, rapid growth in the e-commerce sector, growth in food & beverage industries, rapid urbanization, rising number of number of retail outlets, and worldwide growth of pharmaceutical industry. However, the fluctuating prices of packaging raw materials can make the market growth hit breaks. Request Free Sample Copy With TOC @ https://www.marketresearchfuture.com/sample_request/1677 Key Players Noteworthy players to make an impact in the global service packaging market include
Regional Analysis Regionally, the global service packaging market covers Asia Pacific, North America, Europe, and the Rest of the World (RoW). Asia Pacific region is the largest regional market due to the surging number of hypermarket and growing purchasing power of the consumers. Due to the increasing online shopping activities, the stronger purchasing power of people, and rapid urbanization, China has emerged as the most important country-specific market. Other exceptional country-specific markets in this region are India, Japan, Indonesia, and Thailand. North America is another crucial regional market as the demand for consumer goods and packaged foods is increasing. Other factors to inspire a rise in the service packaging market are the booming pharmaceutical industry, the availability of high-speed internet, and the presence of e-commerce giants in the USA. Canada is another important country-specific market in this region. Europe is a vital regional market due to the availability of most advanced technology after North America and the high density of population in this region. With the availability of high-speed internet, online shopping stores receive a big chunk of customers every day. The most vibrant country-specific markets in this region are Germany, France, Italy, and the UK. Service Packaging Market Segmentation The global service packaging market segmentation includes application, material, product, and region. The application-based segmentation lists market into consumer goods, food & beverages, pharmaceuticals, and others. Huge demand for processed and packed food is the reason for the service packaging market to grow in the food industry. The material-based segmentation includes paper & paperboard, plastic, and others. During the forecast period, the plastic segment can grow due to its temperature resistance, durability, and cost-effectiveness. Regarding the product, the market has been segmented into boxes, bags, pouches, and others. The pouches segment is being sub-segmented into retort pouches, pillow pouches, and stand-up pouches. During the forecast period, the stand-up pouches stand a chance to witness higher growth rate due to their resistance to moisture and oxygen. Access Full Report With Complete TOC @ https://www.marketresearchfuture.com/reports/service-packaging-market-1677 Like it? Share it! More by this author |