Published on : Dec 04, 2017
Albany, New York, December 4, 2017: One of the most exciting developments within the packaging industry in recent times is the push for and commitment to green products. According to a new study, the growing shift in consumer preference for eco-friendly packaging solutions is contributing towards the growth of fiber based packaging market. 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. To elaborate further, Market Research Hub (MRH) has freshly publicized a new study titled “Fiber based Packaging Market - Global Industry Analysis and Forecast 2017 – 2025” to its vast repository. This 294-page study mainly focuses on the opportunities present in the market and bring up-to-date as well as insights pertaining to various segments of the global fiber based packaging market. To compute the market size, in-depth secondary research is done.
In the initial section, the report describes the scope of the analysis along with the current market overview of fiber based packaging. Fiber based packaging utilizes renewable, reusable or biodegradable materials in the process of product packaging. In the present time, it is considered as one of the most relevant forms of sustainable packaging, therefore widely being used across several end-use industries. Analysts anticipate that the global fiber based packaging market is projected to register a 3.8% CAGR vis-à-vis revenue over the forecast period 2017 to 2025, for the market to reach a valuation of US$383.5 billion by the end of 2025.
In terms of geography, Asia Pacific is anticipated to emerge as the most lucrative market in terms of both value and volume over the forecast period.
Key Dynamics Supporting Market Growth
Clients have been offered with the details of market dynamics such as trends, drivers, restraints and opportunities which always have strong impact on any market. Some of them are as follows:
- The fiber based packaging market has been widely used in food packaging, beverages packaging, tobacco packaging, healthcare packaging, personal care & cosmetics, homecare & toiletries, electrical & electronics, e-commerce packaging, chemical & fertilizer, and other industrial packaging. Of them, the segment of food packaging holds dominance with close to 40% share in the overall market by value.
- Fiber based packaging is increasingly being preferred by consumers due to its advantage of being lightweight and cost-effective. Factors such as easy availability of raw materials are attracting manufacturers towards this packaging.
- The growing concerns about global warming are also having a positive impact on the growth of global fiber based packaging market.
In the later section, to assist in proper decision-making, the report includes the profiling of top players in this industry, their respective market share, recent developments along with various business strategies which are adopted by them. At present, key players active in this market include International Paper Company, DS Smith Plc, Huhtamaki Oyj, Brodrene Hartmann A/S, Sonoco Products Company, UFP Technologies, Inc., WestRock Company, Georgia-Pacific LLC, Mayr-Melnhof Karton AG, Pratt Industries Inc., Reynolds Group Holdings Ltd., U.S. Corrugated, Inc., ESCO Technologies Inc., Ltd., Smurfit Kappa Group PLC, KapStone Paper and Packaging, Rengo Co., Ltd., Mondi Group, Stora Enso, AR Packaging Group AB, BillerudKorsnas AB.
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