Packaging Materials Market 2020 | Insights & Forecast Research Report 2024
Category: #business  By Rahul Sankrityayan  Date: 2020-01-29
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Packaging Materials Market 2020 | Insights & Forecast Research Report 2024

Packaging Materials Market Report is a detailed analysis of business space inclusive of the trends, competitive landscape, and the industry size. With consumer preferences undergoing an extensive change in recent times, packaging materials market has registered itself as one of the strongest and fastest growing business spheres. Technological advancements and innovative packaging materials have persistently set the stage for the packaging industry to witness remarkable product demand from numerous end-use sectors.

These business domains, including the likes of F&B, cosmetics, pharmaceutical, chemicals, and household products have also been projected to expand commendably in the years ahead, that would further widen the growth prospects of packaging materials industry.

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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.

Partial Chapter of the Table of Content

Chapter 5. Market, By Product

5.1. Global market share by product, 2016 & 2024

5.2. Bottles & cans

5.2.1.   Market estimates and forecast, 2013 - 2024

5.2.2.   Market estimates and forecast, by region, 2013–2024

5.3. Containers & jars

5.3.1.   Market estimates and forecast, 2013 - 2024

5.3.2.   Market estimates and forecast, by region, 2013 – 2024

5.4. Bags, pouches, & wraps

5.4.1.   Market estimates and forecast, 2013 - 2024

5.4.2.   Market estimates and forecast, by region, 2013 – 2024

5.5. Closures & lids

5.5.1.   Market estimates and forecast, 2013 - 2024

5.5.2.   Market estimates and forecast, by region, 2013 – 2024

5.6. Boxes & crates

5.6.1.   Market estimates and forecast, 2013 - 2024

5.6.2.   Market estimates and forecast, by region, 2013 – 2024

5.7. Drums & IBCs

5.7.1.   Market estimates and forecast, 2013 - 2024

5.7.2.   Market estimates and forecast, by region, 2013 – 2024

5.8. Others

5.8.1.   Market estimates and forecast, 2013 - 2024

5.8.2.   Market estimates and forecast, by region, 2013 – 2024

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Of late, plastic waste has been the growing environmental issue worldwide, thereby being a subject of strict regulatory compliance. Reliable reports claim that if the present situation continues, there will be over 12 billion metric tons of plastic in landfills by 2050. The mass production of plastics has accounted for a whopping 91% of plastic that isn’t recycled and ends up as trash and litter. In consequence of this threatening scenario, packaging materials market trends have been gathering considerable attention from leading industry players including the likes of Amcor, Ball Corporation, Sealed Air, Mondi and DuPont that are investing heavily in R&D activities to develop green and sustainable packaging materials.

In a bid to develop innovative products these companies are collaborating with the technology providers to bring forth sustainable, creative, and green packaging solutions that are further likely to help retailers, packaged goods manufacturers, and food service providers drive sales and delight consumers.

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. The research report, anticipates packaging materials market to exceed a valuation of USD 1.3 trillion by 2024.

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About Author

Rahul Sankrityayan

Rahul Sankrityayan    

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Technology Magazine, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experie...

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