Green packaging trends to drive Packaging Materials Market Growth | Amcor, International Paper, DS Smith, Bemis Company, Inc., Ball Corporation, Crown Holdings, Inc., Mondi Group, Stora Enso, Sealed Air Corporation

Global Market Insights, Inc., anticipates packaging materials market to exceed a valuation of USD 1.3 trillion by 2024. Developments in the Asia Pacific food & beverage sector will be a major reason behind the growth of packaging materials market growth. The Asia Pacific region includes a large number of emerging economies such as China, India, South Korea, etc. These countries have been witnessing increased consumption of food & beverage products which will in turn drive packaging materials market demand.

Among the end-users in the packaging materials market, beverage segment is likely to grow by a CAGR above 4% to reach a market value exceeding USD 300 billion by 2024. Rising popularity of health drinks, plant-based waters, sugar sweetened beverages and alcoholic drinks will be the key factor behind this segment’s industry development. Increasing consumption of packaged drinking water in across the globe also augment this end-user industry’s development throughout the forecast timeframe.

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The food sector is reported to be the largest growth ground for packaging materials industry, given that it accounted for USD 300 billion of the overall market size in 2016 and is expected to grow further in the ensuing years. This rapid growth can be attributed to the robust consumption of ready-to-eat meals, frozen raw meat products, dairy products, and canned sea-food. In consequence, this would have a major impact on the demand for flexible plastics. As per estimates in fact, packaging materials market share from flexible plastics is expected to be valued at USD 190 billion by 2024.

Speaking of flexible plastics, it is prudent to mention the instance of Sappi Limited that recently introduced the Sappi Seal in packaging materials market. Incidentally, Sappi Seal, touted to be the second generation of this flexible packaging solution, has been designed to replace hot set laminates that are made from plastic with products containing a high ratio of renewable raw materials. These solutions are gaining increasing traction as a standard flexible packaging material in the food industry and other sectors which comprise primary & secondary packaging such as sachets and flow wraps for toys & sweets. The aforesaid instance validates that global packaging materials market is witnessing a slew of technological advancements addressing sustainability and safety concerns.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. Amcor
2. Ball Corporation
3. Crown Holdings
4. International Paper
5. Mondi
6. Owens-Illinois
7. Reynolds Group
8. Sealed Air
9. Stora Enso
10. WestRock
11. Bemis
12. COVERIS
13. Berry Plastics
14. DS Smith
15. Graphic Packaging

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

Speaking of the recent innovation trends in packaging materials industry, 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.

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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.

- Packaging Materials Market by Product

• Bottles & cans
• Containers & jars
• Bags, pouches & wraps
• Closures & lids
• Boxes & crates
• Drums & IBCs
• Others

- Packaging Materials Market by End-user

• Food & beverage
• Healthcare
• Logistics
• Automotive & transportation
• General manufacturing
• Others

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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