Globalization has significantly increased international trade and exchange of goods. Increasing trade has fueled demand for paper and paperboard packaging, especially for packaging consumer products. Application of paper and paperboard packaging is seen in food and beverages, personal care, education and stationery, and freight and carrier, and healthcare sector. Moreover, increasing demand for packaged food products has also increased demand in the global paper and paperboard packaging market. Food products such as pack fruits, ice-cream, vegetables, meat, and others require advanced paperboard packaging.
Other driving factors that are accelerating growth in the global paper and paperboard packaging market include increasing disposable income in developing countries and growing preference for convenient goods. Moreover, increasing awareness related to sustainable packaging techniques and how efficiently paper can be recycled has further augmented demand in the global paper and paperboard packaging market. Increasing environmental consciousness and understanding about the ill-effects of non-biodegradable materials are also contributing to fuel demand in this market. by concluding all the above-mentioned factors, there are high chances that the global paper and paperboard packaging market will grow substantially in the coming years.
Technological Advancements in Paperboard Packaging to Impel Market Growth
Manufacturers in the global paper and paperboard packaging market are deploying advanced techniques and working on an innovative design to provide effective packaging solutions. These solutions are expected to provide advanced packaging for a different type of goods such as multi-pack beverage holders, frozen foods, healthcare products, and other products.
Seeing the growth and lucrative opportunities competition among the players is also expected to fuel growth in the global paper and paperboard packaging market. Pricing strategy, new product launch, and expansion are a few other strategies used by players operating in this market. to mention few players in the global paper and paperboard packaging market includes Amcor Ltd., DS Smith Plc., Cascades Inc., Packaging Corporation of America, Mondi Group, RockTenn Company, Clearwater Paper Corporation, and Nippon Paper Industries Co. Ltd.
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