Growing Demand for Packaged Food and Beverages Will Boost the Global Paper and Paperboard Container and Packaging Market Through 2020, Reports Technavio
By Business Wire News
By Business Wire News
Technavio analysts forecast the global paper and paperboard container and packaging marketto grow at a CAGR exceeding 7% during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the global paper and paperboard container and packaging market for 2016-2020. To calculate the market size, the report considers the total revenue generated from different end-users and types of product such as corrugated containers, paper bags and sacks, folding containers, and others.
Sharan Raj, a lead analyst at Technavio for the packaging industry, says, “The global paper and paperboard container and packaging market is making rapid progress in the global container and packaging market. In 2015, this market was the largest contributor to the global container and packaging market, accounting for more than 30% of market share. Increasing demand for paperboard packaging from end-users such as the food and beverage, pharmaceuticals, and electronics industries is driving the market.”
Technavio transportation and logistics analysts highlight the following four factors that are contributing to the growth of the global paper and paperboard container and packaging market:
- Increased demand from e-commerce industry
- Growing demand for packaged food and beverages
- Increased demand from organized retail sector
- Rising demand from healthcare sector
Increased demand from e-commerce industry
The growing e-commerce market, which is primarily made up of online shopping, has witnessed an increase in demand for corrugated boxes for shipment of the products sold through them. The ease of online shopping has made many customers switch from the traditional method of shopping. Online retailers use different types of corrugated boxes and containers according to the product transported. These boxes ensure the safety of the products transported in them. In addition, effective packaging is becoming one of the key business requirements in the e-commerce marketplace, thus fueling the growth of the market.
In 2015, APAC was the largest market for e-commerce, reaching a global value of approximately USD 875 billion, and the market is expected to flourish at the rate of around 35% in the forecast period. The other key leading regions for e-commerce market are North America and the UK, reaching a value of approximately USD 375.9 billion and USD 99.4 billion, respectively.
Growing demand for packaged foods and beverages
The rise in the demand for packaged foods and beverages across various countries has propelled the demand for paper and paperboard containers and packaging products. With the increase in consumer income in countries such as China, India, and Brazil, the demand for good-quality packaged foods is also increasing.
Moreover, the rise in population in many countries has led to the increased consumption of foods and beverages, which has led to an increase in the demand for packaging solutions and products, which include paperboard packaging. “The food products end-user segment accounted for almost 44.78% of the global paper and paperboard container and packaging market in 2015 by revenue, which signifies the impact it can have on the demand for paperboard packaging in the coming years,” says Sharan.
Increased demand from organized retail sector
Organized retailing refers to modern retailing wherein a licensed retailer sells many goods related to different categories under one roof. The stores provide customers with the convenience of packaged foods. These retail stores use packaging materials not only to preserve food but also to retain the nutritional value of the food. In addition, there is increased demand from consumers to use packaging materials that are eco-efficient. The organized retail sector is expected to play a significant role in the growth of the global paper and paperboard container and packaging market.
Rising demand from healthcare sector
The healthcare sector is dependent on the paperboard packaging industry (especially folding cartons) for safe packaging of products such as tranquilizers, analgesics, contraceptives, dietary supplements, nutraceutical products, vitamin tablets, and many other drugs. Also, the new technologies such as anti-counterfeit technology, which is used in folding cartons for healthcare products, are expected to boost the growth of this market. The anti-counterfeit technology helps in the authentication of a drug or other healthcare products, which helps in the identification of counterfeit products. This technology is used while packaging healthcare products in folding cartons. In addition, with many prescription-based products becoming over-the-counter products, many healthcare product manufacturers now want folding cartons to have shelf appeal. In 2015, the healthcare sector accounted for 10.98% of the global folding carton market by volume. However, this share is expected to increase during the forecast period because of the increase in demand from various healthcare product manufacturers.
Browse Related Reports:
- Paper and Paperboard Container and Packaging Market in the APAC Region 2015-2019
- Paperboard Packaging Market in MENA 2015-2019
- Rigid Bulk Packaging Market in the US 2015-2019
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