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- Rising demand for sustainable packaging in multiple end-use industries to generate sizable revenues in the paper packaging materials market; utilization in food & beverages packaging applications to steer abundant lucrative opportunities
- Application of corrugated cases in retail packaging to spur revenue growth; opportunities in Asia Pacific to rise at promising pace
WILMINGTON, Del., July 15, 2022 /PRNewswire/ — Use of paper packaging materials for wrapping food products of various types has been steadily rising, propelled by inclination toward adoption of environmentally friendly packaging solutions. Abundant use of these in frozen foods, fast foods, and fresh foods has expanded the revenue streams considerably over the years. The size of the paper packaging materials market was pegged at US$ 359.5 Bn in 2020. The market value is projected to reach US$ 553.1 Bn in 2031.
Stridently, continued shift toward the use of compostable and recyclable materials in the packaging of products in other industries notably including dairy & bakery, pet foods, cosmetics, and pharmaceuticals have broadened lucrative avenues. Paper packaging manufacturers are geared toward meeting proliferating demand of paper packaging materials market.
Strides in e-commerce industry and emphasis on reducing the environmental footprint of the packaging have spurred the adoption of paper packaging solutions, notes a global market study on paper packaging materials. Massive demand for eco-friendly packaging for apparel worldwide underpins vast opportunity for players in the paper packaging materials market. Of note, the adoption of paper packaging for clothes is likely to grow in the next few years.
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Key Findings of Paper Packaging Materials Market Study
- Rise in Demand in Beverage Packaging to Generate Massive Revenues: In developing and developed regions, the demand for paper-based packaging is invigorated by the trend of sustainable packaging solutions. Rise in adoption of environmentally friendly packaging materials for beverages has spurred the revenue streams for firms in the paper packaging materials market. BRICS nations of note have witnessed customers increasingly preferring paper over plastics as well as metals to boost their sustainability credentials, especially in the packaging for myriad personal care and food products.
- Companies Capturing Revenues from Demand for Sustainable Packaging Materials in Multiple End-Use Industries: Massive use of paper in sustainable packaging products for multiple industries including pharmaceutical, food & beverages, pet food, and cosmetics has propelled revenue generation for packaging companies. Attractive products attributes such as light-weightiness, recyclability, and biodegradability have translated into revenue opportunities for firms in the…
Full story available on Benzinga.com
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