Press release
Cluster Packaging Market to Record an Exponential CAGR by 2024
The global cluster packaging market has seen a great boost in the recent times because people are ordering more products in bulk and with packaging value being high vendors offer better quality performance. Moreover, cluster packaging is more economical compared to smaller packaging solutions in terms of service capacity.
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Additionally, reusability properties of the cluster pack is also lending a helping hand in the growth of the global cluster packaging market. For instance, a Finnish food packaging company has developed a new standard for plastics-free paperboard that will be used for food packaging. The company has developed a disposable coffee cup that is without the standard coating of polyethylene - making it 100% reusable. The disposable cup has passed all the required tests and is waiting for the certification.
Prevailing environmental issues has forces the key players in the global packaging market to evolve and set their business strategies accordingly. Different regulatory bodies such as FDA of the U.S. and Food Safety Authority of Europe have imposed numerous regulations for using eco-friendly and safe products, especially in the food industry.
Packaging market has been significantly grown in past few years because of the speedy development of FMCG sector. Moreover, food products, health supplements, and electronic components are some of the industries that have seen improvements regarding demand over the last few years and are more easily available due to an efficient packaging solution. Cluster packaging is useful to carry bulk products at a time and very handy for consumers. Demand for cluster packs is expected to be driven by increasing adoption of packaging technology across developing geographies of the globe.
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