Paperboard Packaging Market will reach $240bn by 2024
Date: 2018-08-10   Author: Rahul Varpe  Category: #industry

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.

As per a report by Global Market Insights, Inc., the 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.

Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/2060

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.

The pressing need for higher productivity in packaging industry coupled with the growing consumer base demanding eco-friendly and biodegradable products are prominently impacting paperboard packaging market dynamics. A significant rise in the purchase parity of consumers is also a major factor supporting the go-green notion. In fact, a sizable proportion of the consumers are willing to pay a premium for sustainable products. In the mature markets, many consumer brands have approached this trend by redesigning their products in order to reduce the proportion of packaging materials. For instance, Kleenex reduced its tissue boxes packaging material by 30%, while Kimberley-Clark reduced their corrugated board packaging usage by 55% for some product lines.

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.

Browse full report summary@ https://www.gminsights.com/industry-analysis/paperboard-packaging-market 

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.



About Author


Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for AlgosOnline. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. ...

Read More

More from Rahul


Post Recommendents

Pancreatic Cancer Treatment Market Set for Rapid Growth
Author: Rahul Sankrityayan

Global Pancreatic Cancer Treatment Market size is projected to experience significant growth from 2017 to 2024. Pancreatic cancer treatment market size should witness significant growth due to increasing healthcare exp...


Angiography Devices Market In-Depth Progress Research 2017-2024
Author: Rahul Sankrityayan

Global Angiography Devices Market size is projected to experience significant growth from 2017 to 2024. Growing incidence of cardiac disorders such as coronary artery, congenital, pericardial, heart valve and aorta dis...


Scaffold Technology Market Outlook, Research, Trends and Forecast to 2024
Author: Rahul Sankrityayan

Global Scaffold Technology Market size is projected to experience significant growth from 2017 to 2024.

The increasing R&D investment, growing need for organ transplantation, ad...