Fiber based Packaging Market Scope
The global packaging market is valued at over USD 800 billion and the market is expected to grow 3 percent annually. Food and beverage account for over 40 percent of the global packaging market value, and when other consumer products are added, the proportion of consumer packaging increases to approximately 65 percent, and industrial applications account for only 35 percent of the business value. For fiber-based packaging, renewable, reusable, or biodegradable materials are used in product packaging. The fiber-based packaging is generally used in all kinds of primary, secondary, and tertiary forms of packaging. Fiber-based packaging is widely used in the chemical, food and beverage and construction industries. As the demand for sustainable products has increased, the supply has also held up. The manufacturers have expanded their product portfolio to include sustainable products. This has led to the development of sustainable packaging. Fiber-based packaging forms a large part of sustainable packaging. Fiber-based packaging is often used for packaging consumer goods, electronics, food, and beverages, etc. Given the rising disposable incomes, the market for fiber-based packaging is expected to grow over the forecast period.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | International Paper (United States), DS Smith (United Kingdom), Huhtamaki (Finland), Smurfit Kappa (Ireland), Sonoco Products (United States), WestRock (United States), Georgia-Pacific (United States), Pratt Industries (United States), Reynolds Group Holdings (New Zealand), U.S. Corrugated (United States), UFP Technologies (United States), ESCO Technologies (United States) and Hartmann (Germany) |
CAGR | 3.4% |
The companies are exploring the market by adopting expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to avail of competitive advantage through combined collaborations. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Fiber based Packaging market throughout the predicted period.
International Paper (United States), DS Smith (United Kingdom), Huhtamaki (Finland), Smurfit Kappa (Ireland), Sonoco Products (United States), WestRock (United States), Georgia-Pacific (United States), Pratt Industries (United States), Reynolds Group Holdings (New Zealand), U.S. Corrugated (United States), UFP Technologies (United States), ESCO Technologies (United States) and Hartmann (Germany) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are KapStone Paper (United States), Mayr-Melnhof (Austria), Rengo (Japan), Mondi Group (Austria), Stora Enso (Finland) and BillerudKorsnas (Sweden).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Fiber based Packaging market by Type , by Application (Food and Beverage, Industrial Goods, Pharmaceutical Firms, Biotechnological Firms and Others) and Region with country level break-up.
On the basis of geography, the market of Fiber based Packaging has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In February 2022, Technology giant HP announced the acquisition of plastic-free packaging development company Choose Packaging. Choose is the inventor of the world’s only commercially available zero-plastic paper bottle.Founded in 2018, Choose offers an alternative to plastic bottles, which utilizes its patented paper bottle technology – a paper casing lined with a plant-based waterproof PET-free liner. The company’s bottles don’t require fossil fuel-derived ingredients and are made with naturally occurring, sustainably sourced, biodegradable, and compostable materials.
In October 2023, ISRI, the Voice of the Recycled Materials Industry, has launched a new tool to help recycle more packaging in the United States. The new Fiber Recycling Readiness Tool is a research-based online resource developed by ISRI that assesses the compatibility of typical consumer fiber-based packaging we use every day with the U.S. residential recycling system.
Influencing Trend:
Growing R&D Investments Leading to Increased Fiber-Based Packaging and Rising Trend of Having Different Packaging Materials to Tackle Land & Water Pollution
Market Growth Drivers:
Consumer Preference For Eco-Friendly Packaging Solutions, Government Statutes In Favor Of Naturally Sourced Packaging Solutions and There is an Increase in Market Growth, Due to the Demand of Environmental Friendly Products
Challenges:
Low Durability & Low Tensile Characteristic of Materials
Restraints:
Absence of Government Regulations Especially in Many Developing Countries on the Use of Non-Eco-Friendly Material
Opportunities:
Easy Availability Of Raw Material For The Manufacture Of Fiber-Based Packaging Products and Growing Consumer Awareness about Contribution towards Saving the Environment by Using Fiber-Based Packaging
Key Target Audience
Manufacturers of Fiber-Based Packaging, Distributors, Traders, & Suppliers, Investors, Regulatory & Government Bodies, Market Research Firms and Others