New York
City, 24 January 2019: The global Paper and Paperboard Packaging Market is anticipated to reach $413 billion by 2026 according to a
new research published by Polaris Market Research. In 2018, the food and
beverage segment accounted for the highest Paper and Paperboard Packaging
market share in terms of revenue. Asia-Pacific is expected to be the leading
contributor to the global Paper and Paperboard Packaging market revenue in
2018.
The
significant investments by producers in environmental protection and energy
optimization programmes, coupled with initiatives aimed at use of biodegradable
packaging solutions and improving logistics and transportation majorly drives
the Paper and Paperboard Packaging market growth. The growth in e-commerce,
driven by growing broadband internet penetration, use of smartphones and an
increasing proportion of technologically inclined consumers would further
support the growth of the Paper and Paperboard Packaging market. Increasing
demand for sustainable packaging solutions and stringent regulations against
use of non-biodegradable packaging materials boosts the Paper and Paperboard
Packaging market growth. The growing retail industry, modern retail practices,
growing initiatives taken by retailers to improve in-store and distribution
efficiencies would increase the trend of Retail-ready packaging during the
forecast period. Various brands operating in the Paper and Paperboard Packaging
market are adopting smart packaging to enhance shelf appeal and brand exposure.
They use specialized grades of highly printable liner boards to enable
production of packaging with a strong visual impact. New marketing techniques
incorporating smartphone apps and codes are being used to attract consumers,
thereby increasing the Paper and Paperboard Packaging market size.
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Paper packaging plays a critical role in food and beverage industry for containing, protecting, and preserving food products. Paper packaging provides a simple and economical method for packaging of food products, while also providing product information, and influencing the sale, consumption, use and disposal of products. In April 2018, Tetra Pak launched Tetra Pak Artistry, a new range of new packaging material effects for food and beverage producers. The effects include Tetra Pak Reflect for incorporating holographic effects onto the package, Tetra Pak Metallized for creating a metallic effect, and Tetra Pak Craft for providing the package with a natural look of bare paperboard with wood fibers. The use of these effects enables brands to attract shoppers’ attention without switching to a new packaging format or investing in new equipment.
Competitive Landscape and Key Vendors:
Asia-Pacific
generated the highest Paper and Paperboard Packaging market share in terms of
revenue in 2018, and is expected to lead the global Paper and Paperboard
Packaging market throughout the forecast period. The growing population, rising
disposable incomes, and a transition from traditional markets to the purchasing
of packaged consumerist goods, especially in the food segment has accelerated
the adoption of Paper and Paperboard Packaging market growth in the region. The
food and beverage, and food delivery industry is on a significant rise in the
region. The specialized and on-demand O2O (online to offline) delivery market
is generating numerous opportunities for the Paper and Paperboard Packaging
industry.
The
well-known companies profiled in the Paper and Paperboard Packaging report
include International Paper Company, Nippon Paper Group Inc., DS Smith Plc,
Mondi Group, Georgia-Pacific Corporation, Amcor Limited, WestRock Company,
Clearwater Paper Corporation, ITC Limited, Tetra Pak. These companies launch
new products and collaborate with other market leaders to innovate and launch
new products to meet the increasing needs and requirements of consumers.
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