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Sustainable packaging trend to majorly drive paperboard packaging market growth

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

The pressing need for higher productivity in packaging industry coupled with the growing consumer base demanding eco-friendly and biodegradable products are prominently impacting paperboard packaging market dynamics. A significant rise in the purchase parity of consumers is also a major factor supporting the go-green notion.

In fact, a sizable proportion of the consumers are willing to pay a premium for sustainable products. In the mature markets, many consumer brands have approached this trend by redesigning their products in order to reduce the proportion of packaging materials. For instance, Kleenex reduced its tissue boxes packaging material by 30%, while Kimberley-Clark reduced their corrugated board packaging usage by 55% for some product lines.

Coca-Cola, a leading beverage industry player, has further launched a prototype called PlantBottle that is manufactured from 100% bio-based raw material. In addition to this, taking part into this sustainability move, McDonald’s has recently announced that its packaging for the European region is 100% from sustainable sources such as paper, paperboards, and wood fiber. These developments are overt to carve out a rather lucrative roadmap for paperboard packaging market in the coming years.

To access a sample copy or view the paperboard packaging market report in detail along with the table of contents, please click the link below: www.gminsights.com/request-sample/detail/2060

Several paperboard packaging industry players along with paper mills have also responded to the lightweight paperboard trend. Advancements in packaging technology have encouraged these product manufacturers to achieve comparable compression strength and printability at lower grammage. This is likely to reduce the higher costs of paperboard as light weight means less shipping and storage costs.

This trend will indeed escalate the product demand, enhancing the overall profitability quotient of this industry. Some of the renowned players defining the competitive hierarchy of paperboard packaging market include Southern Champion Tray, International Paper Company, Outlook Group LLC, Rock-Tenn Company, Nippon Paper Industries, and Shandong Bohui Paper Industry Co Ltd.

Paperboard packaging market has been segmented based on product, raw material, and application. Among raw materials, fresh sources comprise of wood pulp, straw, hemp, sugarcane bagasse and cotton. Wood pulp solely accounts for 90% of this segmental revenue.

The product segment includes boxboard and containerboard. Boxboard category is further divided as solid unbleached board, folding boxboard, white lined chipboard, and solid bleached board. Folding boxboard segment have several applications such as in confectionaries, cigarettes, beauty products, pharmaceuticals, and frozen foods. Its market is likely to grow at CAGR of 8.5% in forecast timeframe.

The applications for this product are segmented into four key segments including food & beverage (F&B), medical, durable goods, nondurable goods and others. Increasing demand from online based retail industry, and food takeaways are predicted to propel the product growth in future. F&B is a major end-user which held a more than one-third share of the global paperboard packaging market. Food and beverage is fastest growing application and is likely to witness growth at a CAGR of 8% in forecast period.

Based on regions, Asia Pacific paperboard packaging market held a substantial share in the market and is likely to cross USD 170 billion over the forecast timeframe. This region will experience high gains owing to growing income level and demand from food & beverage industry. North America is the second ranking region, which accounted for a substantial share of the industry in 2016. Europe will grow at a slower pace due to unfavorable regulations on paper recycling.

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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