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Overview
Paperboard packaging is a material with thick paper base. The end product is then used for packing and wrapping products. The paper and paperboard packaging market is expected to gain 6% CAGR during the forecast period (2017-2023). Market Research Future (MRFR) claims in their report that the sbs paper packaging market can gain much acceptance owing to rise in demand for sustainable and bio-friendly packaging.
Factors that can impact the global sbs paper packaging market are the growing demand for eco-friendly options to reduce the adverse impacts of plastic on the earth. Online shopping is one of the major traction providers for the global sbs paper packaging market. These can be cut and molded as per the need, simplifying the packing procedure remarkably, which can ensure substantial growth for the market in the coming years.
Segmentation
MRFR segmented the global sbs paper packaging market by type, grade, and application in their latest report for a closer inspection of trends and factors driving the market ahead.
Based on the type, the sbs paper packaging market includes corrugated boxes, boxboard, and paper bags. The paper bags had the maximum market share in 2016. Several types of this segment are available like multi-wall paper over poly, sewn open mouth bags, pasted valve bags, and pinch bottom open mouth bags.
Based on the grade, the sbs paper packaging market encompasses white line chipboard, folding boxboard, solid bleached sulfate, coated unbleached kraft board, and others.
Based on the application, the sbs paper packaging market includes personal care, healthcare, food & beverages, electronics, and others. The food & beverage had the maximum market coverage during the 2016.
Regional Analysis
Region-specific details of the global sbs paper packaging market includes North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW).
The APAC market is both the largest and the fastest growing market Asia Pacific dominates the global sbs paper packaging market and is likely to grow at the fastest CAGR during the forecast period. Countries like India, China, Taiwan, and others are driving the market forward. The rise of packaging industry in the zone, along with growth of e-commerce, and others are also impacting the regional market.
North America’s second position is mostly due to the growth of the food and beverage sector in this country. The regional food & beverage business is quite large and on it the plastic container market is thriving. Increasing storage expenditures and proper measures taken to maintain the transportation of the product hike the growth further.
Europe has the potential to delivery remarkably during the forecast period. The product sustainability has made the region look for such packaging options to carry on with the ambition. In the APAC region, rise in packaging would be substantial with increasing number of industries in countries like India and China.
Competitive Landscape
Several companies are in the run to develop the best and take over the global sbs paper packaging market. These companies are ITC Ltd. (India), Amcor Ltd. (Australia), RockTenn Company (U.S.), Cascades Inc. (Canada), Packaging Corporation of America (U.S.), Clearwater Paper Corporation (U.S.), Mondi Group (South Africa), Metsa Group (Finland), DS Smith Plc. (U.K.), Georgia-Pacific LLC (U.S.), Sonoco Products Company (U.S.), Nippon Paper Industries Co., Ltd. (Japan), Stora Enso Oyj (Finland), Spartan Paperboard Company (U.S.), and Colbert Packaging (U.S.). MRFR profiled them in their latest report to have an insight regarding the upcoming years.
Tetra Pak, in 2018, declared that they would spend USD 115 million to improve their packaging by developing several fields of their waste management plans. 71% of their packaging material is paperboard, which would experience significant impact owing to this huge investment.
Japan, on the other hand, is shifting towards paper and paperboard packaging. The country is willing to comply with the recent public outcry against the usage of plastic.
Read More :
https://teletype.in/@sagarkinagi/r1uTL6AWI
https://www.firmenpresse.de/pressrelease606084.html
http://www.tmcnet.com/usubmit/2020/01/29/9088525.htm
https://freepressreleasedb.com/pr/Tape-Industries-Market-to-Thrive-in-APAC-PR133975/
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