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Green packaging trends to extensively drive the profitability landscape of packaging materials market

Author : Rahul Varpe | Published Date : 2019-03-12 

Speaking of the recent innovation trends in packaging materials market, it is worthy to mention that Micro-Fibrillated Cellulose (MFC), a unique fiber extracted from plant waste, is being used liberally as a stronger yet lighter sustainable packaging material. It has been reported that adding as minimum as 1% of MFC to an existing substrate improves the packaging performance by 15% to 20%. This material has even proved itself to be stronger & stiffer than glass or carbon fiber. Aqueous barrier coatings, Chill Buddy, Micro-patterned packaging materials, and Molded fiber printing technology are some of the other sustainable packaging materials industry trends to watch out for in the ensuing years.

Unrefutably, these emerging packaging trends though at its embryonic stage are certain to take the industry by storm more sooner than anticipated, courtesy the dynamic competitive landscape of packaging materials market that is faring determinedly along the Asia Pacific belts, Europe, and North America. These regions have become massive investment grounds for the industry players, given the extensive packaged products proliferation.

It is noteworthy to state that apart from core industry participants, several tech giants including Amazon, Dell, REI, Puma, and Colgate-Palmolive are betting big on sustainable packaging by introducing bamboo and other bio-based product categories. Thus, with sustainability credentials rolling ahead in full gusto, global packaging materials market is projected to tread along a lucrative growth path in the years ahead. Global Market Insights, Inc., anticipates packaging materials market to exceed a valuation of USD 1.3 trillion by 2024.

To access a sample copy or view the packaging materials market report in detail along with the table of contents, please click the link below: www.gminsights.com/request-sample/detail/2482

Packaging Materials Market will surpass USD 1.3 trillion by 2024; according to a new research report. Paper & cardboard is a key packaging materials segment is expected to generate revenues of more than USD 150 billion in 2024. This segment will gain by more than USD 4% each year from 2017 to 2024 owing to increasing usage of paper-based products for packing applications. Flexible paper packaging materials are widely used for food, pharmaceutical, and personal care products. Cardboard and corrugated board products are widely used in bulk, secondary as well as tertiary packaging applications for a wide variety of products.

Among the different product types in the packaging materials market, bags, pouches, & wraps will be the largest segment which will grow by more than 4% CAGR during the study period. The superior performance of these products, lower costs and variety in shapes makes it one of the most sought-after product in the packing materials market.

Healthcare and cosmetics end-user segments are likely to combinedly account for more than 15% of the total market by 2024. Rising consumption of pharmaceutical products around the globe coupled with increasing personal care products demand will augment these end-user segments' market in coming years.

Major packaging materials market participants include Crown Holding Inc., Amcor, Ball Corporation, Mondi, Sealed Air, International Paper Company, Reynolds Group, etc. Apart from these main players, a considerable number of smaller companies are also present in market which caters to customers regionally.

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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