Fiber based Packaging Market - Players take Mergers and Acquisitions Route to Expand Product Portfolio

The global fiber based packaging market has witnessed extraordinary growth over the past few decades on account of numerous applications of fiber based packaging across several end-use industries. Driven by this and several other factors, 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 bn by the end of 2025. The market was evaluated to be worth US$284 bn in 2016.

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Among the various segments based on packaging type, corrugated boxes lead with an estimated share of more than 45% by value. Corrugated boxboard contributes more than 50% revenue amongst all material type segments in the fiber based packaging market. Food packaging segment leads amongst key end-use segments holding almost 40% market share by value.

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Across the world, the growth of the packaging industry and a shift in consumer preference have resulted in the impressive growth of the global fiber based packaging market in the past decade, says a TMR analyst. Fiber based packaging is increasingly being preferred by consumers due to its advantage of being light weight and cost effective.

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Apart from this, fiber based packaging offers advantages of employing highly automated machines for the design of paperboard products, which in turn, substantially reduces labor and packaging costs.

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