Global Composite Packaging Market 2016-2020
About Composite Packaging
Paperboard composite cans are mainly used in the packaging of a wide range of food and beverages products, including snacks and instant beverages, soups and sauces. A paperboard composite can's end closures, one or both, are permanently affixed and have a convolute wound or spiral wound to form a rigid body. The can's body has several layers of paperboard materials, including recycled and virgin paper, but also has an additional layer of aluminum foil and plastic film in various combinations.
Technavio’s analysts forecast the global composite packaging market to grow at a CAGR of 4.78% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global composite packaging market for 2016-2020. To calculate the market size, the report is based on the volume of composite cans used in the packaging sector by vendors for the various end-users such as food and beverage industry, industrial goods industry, healthcare industry, and other industries (personal care, household, and electronics).
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Composite Packaging Market 2016-2020
Technavio recognizes the following companies as the key players in the global composite packaging market: Amcor, DS Smith, Mondi, Smurfit, Kappa, and Sonoco.
Other Prominent Vendors in the market are: Crown Holdings, Najmi Industries, Sealed Air, SOTA Packaging, and Universal Packaging.
Commenting on the report, an analyst from Technavio’s team said: “The trend of using the sustainable or eco-friendly material for the packaging of products is influencing the growth of the market. Many consumer product manufacturers prefer using eco-friendly packaging material as it provides an opportunity to promote environmental sustainability.”
According to the report, a rise in the demand for packaged foods and beverages across various countries has propelled the demand for paperboard containers including composite packaging. With an increase in consumer income in countries such as China, India, and Brazil, the demand for good-quality packaged foods is also increasing.
Further, the report states that the market is witnessing increased competition because of the alternative forms of packaging such as plastic. In a convenience-obsessed culture, consumers prefer light forms of packaging. Plastic and other forms of paper packaging have become increasingly popular because of their light and biodegradable nature. In industrial applications, wood is often preferred over plastic because of its chemically inert and heat-resistive properties.
Amcor, DS Smith, Mondi, Smurfit, Kappa, Sonoco, Crown Holdings, Najmi Industries, Sealed Air, SOTA Packaging, Universal Packaging.
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