Global composite packaging market size to exceed USD 4 billion by 2026
The recent study on ‘composite packaging market’ aims to provide thorough insights pertaining to this industry sphere. It highlights important aspects that influence the industry growth, while scrutinizing historical data to make verifiable projections regarding market remuneration during 2020-2026.
Selbyville, Delaware, Oct. 26, 2020 (GLOBE NEWSWIRE) -- According to the credible sources, worldwide composite packaging market is expected to reach a valuation of USD 4.83 billion by the year 2026. Flourishing plastic goods sector, food & beverages vertical as well as consumer goods industry, especially in developing countries like Asia Pacific and Middle East & Africa is impelling the growth of global composite packaging market.
Global composite packaging market report showcases thorough analysis based on several segmentations, such as type, application spectrum, and regional outlook. It also mentions the factors shaping segmental expansion along with their industry share estimates over the analysis timeframe. Furthermore, the document provides information about competitive landscape of the market defined by each contender, along with their product portfolio and market stake.
Moreover, increasing internet penetration has caused a boost in ecommerce industry, allowing customers the convenience to order food & beverages as well as consumer goods online and get the delivery in the comfort of their home. Extensive utilization of packaging by these industries is positively influencing global composite packaging industry outlook.
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Development of green packaging solutions that are sustainable and can be recycled is also likely to contribute to worldwide composite packaging market growth. While, emphasis on industry partakers towards offering packaging solutions that are safe, efficiently functional, and of highest quality is also amplify the overall remuneration.
Notably, companies are putting extra efforts to help their clients to enhance value chain by offering additional services like printing, coloring, and option of choosing packaging types. Inclination towards customized packaging solutions and willingness of major players to provide the same is stimulating global composite packaging market size.
*Elaborating type terrain*
The plastic segment of composite packaging industry is expected to witness substantial growth in coming years, owing to plastic’s versatile properties and ability to combine with other materials, cites the report. Companies are exploring opportunities to develop better packaging solutions, like introduction of composite packaging by combining plastic and bamboo, which has found applications in food & beverage and cosmetic industry.
Meanwhile, paper composite packaging market segment is also likely to witness modest growth through 2026, mainly due to its widespread usage in consumer goods and food & beverage sectors. The material has high biodegradability index, hence government measures to promote the use of biodegradable materials will bolster the product demand.
*Highlighting application spectrum*
As per industry expert, global composite packaging market share from plastic goods industry segment is reckoned to grow tremendously over 2020-2026. The segment growth is credited to ability of composite packaging solutions to be customized as per complex requirements of plastic goods companies. Benefits such as cost savings in administration and inventory, enhance productivity owing to pre-assembled packaging, lower damage rate, and higher customer satisfaction are impelling the demand for composite packing from plastic goods industry.
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*Regional Overview*
Asia Pacific composite packaging market is expected to witness momentous growth rate during the forecast period, owing to rapid urbanization, emergence of countries as a manufacturing hub, increasing disposable income, and favorable government policies, especially in countries like China, Malaysia Vietnam, India, Singapore, and Indonesia.
Parallelly, North America composite packaging industry trends are driven by the presence of leading companies, and inclination towards green practices in the region. Also, Middle East & Africa as well as Central & South America markets are predicted to gain decent traction over the coming years.
*Global Composite Packaging Market Packaging by Type (Revenue, USD Million, 2015 - 2026)*
· Cardboard
· Paper
· Plastic
· Others
*Global Composite Packaging Market Application Spectrum (Revenue, USD Million, 2015 - 2026)*
· Consumer Goods
· Food & Beverage Industry
· Plastic Goods Industry
· Healthcare Industry
*Global Composite Packaging Market Regional Analysis (Revenue, USD Million, 2015 - 2026)*
· *North America*
·U.S.
· Canada
*Europe*
·Germany
· Spain
· France
· UK
· Netherlands
· Italy
*Asia Pacific*
·Singapore
· Japan
· India
· South Korea
· China
· Australia
*Latin America*
·Brazil
· Colombia
· Mexico
*Middle East & Africa*
·South Africa
· Israel
· Saudi Arabia
· UAE
· Qatar*Global Composite Packaging Market Competitive Analysis (Revenue, USD Million, 2015 - 2026)*
· DS Smith plc
· Amcor plc
· Sonoco Products Company
· Mondi Group
· Sota Packaging Pty Ltd.
· Smurfit Kappa Group plc
· Sealed Air Corporation
· Crown Holdings Inc.
· Najmi Industries
· Universal Packaging Ltd.
*Table of Contents*
*1. Overview and Scope*
1.1. Research goal & scope
1.2. Research assumptions
1.3. Research Methodology
1.3.1. Primary data sources
1.3.2. Secondary data sources
1.4. Key take-aways
1.5. Stakeholders
*2. Executive Summary*
2.1. Market Definition
2.2. Market Segmentation
*3. Composite Packaging Market Insights*
3.1. Composite Packaging - Industry snapshot
3.2. Composite Packaging - Ecosystem analysis
3.3. Composite Packaging Market dynamics
3.4. Composite Packaging Market PEST analysis
3.5. Value Chain Analysis
3.6. Composite Packaging Industry trends
3.7. Competitive Ranking Analysis, 2019
*4. Composite Packaging Market Size and Forecast by Type*
4.1. Global Composite Packaging Market share by Type, 2019 & 2026
4.2. Plastic
4.3. Paper
4.4. Cardboard
*5. Composite Packaging Market Size and Forecast by Application*
5.1. Global Composite Packaging Market share by Application, 2019 & 2026
5.2. Food & Beverage Industry
5.3. Industrial Goods Industry
5.4. Healthcare Industry
5.5. Consumer Goods
5.5.1. Global Composite Packaging in consumer goods applications market estimates and forecasts, 2015 - 2026 (USD Million)
5.5.2. Global Composite Packaging in consumer goods applications market estimates and forecasts, by region, 2015 - 2026 (USD Million)
5.6. Others
5.6.1. Global Composite Packaging in other applications market estimates and forecasts, 2015 - 2026 (USD Million)
5.6.2. Global Composite Packaging in other applications market estimates and forecasts, by region, 2015 - 2026 (USD Million)
*6. Composite Packaging Market Size and Forecast by Regions *
*Related Report: *
*Advanced Packaging Market Size, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 – 2026 *
Advanced Packaging Market size is estimated to grow at a CAGR of 8% between 2020 and 2026, as per new research report. Rising inclination toward the adoption of the Internet of Things (IoT) and connected technology across the globe will add an impetus to the market. Advanced packaging aids to deliver high power dissipation, low cost, and high radio frequency shielding, supporting various RF standards such as Wi-Fi and Zigbee. Adding to this, several initiatives by the governments toward the adoption of IoT technologies will drive the advanced packaging industry growth.
From a regional frame of reference, LAMEA will witness substantial growth over the coming years. In 2019, the region accounted for around 5% market share owing to the rising government initiative towards promoting growth of the regional semiconductor industry.
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