Paperboard Packaging Market is Predicted to Witness Rapid Growth by 2024
Category: #business  By Rahul Sankrityayan  Date: 2020-01-16
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Paperboard Packaging Market is Predicted to Witness Rapid Growth by 2024

Paperboard Packaging Market Report is a detailed analysis of business space inclusive of the trends, competitive landscape, and the industry size. The report also identifies the growth of plastic flexible packaging solutions as one of the major shortcomings faced by the paperboard packaging industry. Plastic is a widely-used packaging option that is highly cost-effective, durable, and easily available. Moreover, the fact that plastics are inherently water resistant and prevent moisture damage further adds to the growth of plastic packaging solutions, in turn impeding the paperboard packaging industry demand.

However, stringent regulating norms pertaining to plastic usage and its non-biodegradability are certain to fuel the demand for paperboard packaging in the ensuing years.  Increasing consumer awareness regarding the environmental concerns over the use of non-biodegradable materials have further prompted them to opt for environment friendly packaging solutions. Rising consumer preference for sustainable packaging techniques and recyclability of paper and paperboard packaging can be listed as the key elements fueling the growth of paperboard packaging industry.

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Speaking of the growing focus on sustainability and convenience, paperboard packaging market players are developing flexible options designed to meet the consumer needs, particularly in the cosmetics, food & beverages, and pharmaceutical industries. Paperboard has majorly replaced plastic packing in the cosmetics industry with branding strategy playing a vital role in product sales. Of late, packaging for products like cosmetics, mobile phones, online goods are all about enhancing customer experience, establishing a solid interaction between the product, brand, and the consumers. Attractive paperboard designs and stylish packaging with biodegradable materials have thus prompted various industry manufacturers to adopt these products in implementation of marketing strategies, indeed propelling paperboard packaging industry share.

Partial Chapter of the Table of Content

 

Chapter 3. Paperboard Packaging Industry Insights

3.1. Industry segmentation

3.2. Industry size and forecast, 2013 - 2024

3.3. Industry ecosystem analysis

3.3.1.   Distribution channel analysis

3.3.2.   Vendor matrix

3.4. Raw material analysis

3.5. Regulatory landscape

3.5.1.   U.S.

3.5.2.   Europe

3.5.3.   China

3.6. Pricing analysis

3.6.1.   Regional pricing

3.7. Industry impact forces

3.7.1.   Growth drivers

3.7.2.   Industry pitfalls & challenges

3.8. Growth potential analysis

3.9. Porter's analysis

3.10.         Competitive landscape, 2016

3.10.1.   Strategic dashboard

3.11.    PESTEL analysis

 

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Innovation and technology have been profoundly underlining the paperboard packaging market over the recent years. Lately, paperboard has emerged as the packaging substrate of choice, right from consumers to retailers & supply chain managers to even designers and marketers. Making use of paperboard as a medium of packaging has brought unique graphical and structural design opportunities that stand out in the retail sector. Moreover, the sustainability quotient attached to the paperboard packaging, owing to its recyclability properties, has provided a significant push to the growth of paperboard packaging industry share.

As per a report global paperboard packaging market is already a massive business with a registered valuation of over USD 130 billion in 2016. The industry analysts further estimate this industry to surpass USD 240 billion by 2024 at a CAGR of 7.5% over the period of 2017-2024.

Coca-Cola, a leading beverage industry player, has further launched a prototype called PlantBottle that is manufactured from 100% bio-based raw material. In addition to this, taking part into this sustainability move, McDonald’s has recently announced that its packaging for the European region is 100% from sustainable sources such as paper, paperboards, and wood fiber. These developments are overt to carve out a rather lucrative roadmap for paperboard packaging market in the coming years.

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Several paperboard packaging industry players along with paper mills have also responded to the lightweight paperboard trend. Advancements in packaging technology have encouraged these product manufacturers to achieve comparable compression strength and printability at lower grammage. This is likely to reduce the higher costs of paperboard as light weight means less shipping and storage costs. This trend will indeed escalate the product demand, enhancing the overall profitability quotient of this industry. Some of the renowned players defining the competitive hierarchy of paperboard packaging market include Southern Champion Tray, International Paper Company, Outlook Group LLC, Rock-Tenn Company, Nippon Paper Industries, and Shandong Bohui Paper Industry Co Ltd.

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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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