Global Paper Packaging Materials Market Projected To Augment At A CAGR Of About 5.2% During 2020–2026 – ZMR
Nov 3, 2020
Global Paper Packaging Materials market, which amassed revenue worth nearly 294.56 (USD Billion) in 2019, will register a CAGR of nearly 5.2% during the period from 2020 to 2026.
New York, United States - November 3, 2020 /MarketersMedia/ —
As per to Zion Market Research, the global paper packaging materials market size was valued at USD 294.56 billion in 2019, advancing at a CAGR of about 5.2% during the forecasted period 2020–2026. This market is projected to witness rapid growth owing to surging demand for flexible paper-based packaging. The developing regions like Central & South America, Asia Pacific, and the Middle East are likely to play an imperative role in molding the global industry. Paper utilized in flexible packaging consists of greaseproof paper, Kraft paper, and parchment paper. The increasing population and rising demand for economical packaging alternatives propel the demand for flexible packaging materials. The flexible packaging comprises of pouches, bags, envelopes, cellulose, and aluminum foils.
Some of the key players in the market are Crown Holdings, Amcor, Ball Corporation, Owens-Illinois, Reynolds Group, International Paper, Mondi, Stora Enso, Sealed Air, COVERIS, WestRock, Bemis, Graphic Packaging, Berry Plastics, and DS Smith.
Demand For Paper Packaging Materials From Food & Beverage Industry To Boost Global Paper Packaging Materials Market
The high development in the global food & beverage industry will boost the demand for packaging materials in the forecasted period. These products are widely utilized in the packaging of raw & processed food products. They are also progressively utilized in packaging bulk food products like cereals, grains, etc. The increasing intake of frozen meat products, ready-to-eat meals, and canned sea-foods globally will enhance the packing materials market expansion. The higher consumption of non-alcoholic and alcoholic beverages will also be a chief growth enabler for the market. The growing environmental apprehensions concerning plastic use in packaging applications have induced a shift in customer preference toward paper-based options.
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The global paper packaging materials market is bifurcated on the basis of material, application, and regional analysis. Based on the material, the market is divided into corrugated cases, liquid packaging cartons, carton & folding boxes, and others (bags). Based on the applications, the market is divided into fresh foods, beverages, frozen food, fast food, pet food, and others (cosmetics & pharmaceuticals).
The Asia Pacific Region Estimated To Witness Major Share In The Global Paper Packaging Materials Market
Based on the geographical analysis, the global paper packaging materials market is divided into Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. The Asia Pacific region was the largest region that contributed to 37.5% of the total earnings share in 2016 and is likely to continue its supremacy during the forecasted period. This can be owing to the growing number of manufacturers in the region, advancing the transit packaging segment, and growing consumerism. The Asia Pacific region is projected to register the highest growth pace during 2019–2025. The advancing lifestyle, augmenting disposable income, and increasing awareness concerning probiotics use are the key attributed reasons for this situation. The strong demand from regions like Japan and China is estimated to benefit the market across the region.
The global paper packaging materials market is segmented as follows:
Based on the material:
Corrugated Cases
Liquid Packaging Cartons
Carton & Folding Boxes
Others (Bags)
Based on the application:
Fresh Foods
Beverages
Frozen Food
Fast Food
Pet Food
Others (Cosmetics & Pharmaceuticals)
Based on the region:
North America
The U.S.
Canada
Europe
France
The UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
Browse TOC of this Report @ https://www.zionmarketresearch.com/toc/paper-packaging-material-market
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