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Composite Packaging Market Research Report - Forecast to 2023

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Composite Packaging Market Research Report— By Material (Plastic, Paper, Cardboard, and Others), by End-user (Food & beverage, Industrial goods, Consumer goods, Healthcare and Others) and by Region (the Americas, Asia Pacific, Europe, Middle East an
Composite Packaging Market Research
Report By Forecast To 2023
Industry Survey, Growth, Competitive Landscape
and Forecasts to 2023
PREPARED BY
Market Research Future
(Part of Wantstats Research & Media Pvt. Ltd.)
Composite Packaging Market Research Report - Forecast to 2023
Composite Packaging Market Research Report— By Material (Plastic, Paper, Cardboard, and Others), by
End-user (Food & beverage, Industrial goods, Consumer goods, Healthcare and Others) and by Region (the
Americas, Asia Pacific, Europe, Middle East and Africa) — Global Forecast Till 2023
A composite packaging is made from more than one material used together with the aim to combine the unique properties
of materials which enables the packaging to impart properties such as increased durability and elasticity. Composite
packaging is used in industries requiring higher product safety and prolonged storage, for example, food & beverages,
industrial goods, consumer goods, healthcare, and others. Composite packaging is gaining considerable traction in the
market mainly because of its durability, and low maintenance cost.
The global market for composite packaging is projected to grow at a CAGR of around 4.82 % during the forecast period.
The growth of the market for composite packaging is driven by a few factors such as change in lifestyle and rise in
disposable income of people. The demand for composite packaging is continuously increasing because of the expanding ecommerce sector across the globe. Today, consumers prefer online shopping which needs more product protection because
of bulk shipping, which may be another cause of growing market for composite packaging. As a result of the initiatives of
Government and the World Health Organization (WHO), people are more aware of their health. Furthermore, the increasing
prevalence of diseases leads to innovation in devices and drugs which require higher product protection which is driving the
growth of composite packaging market. As the composite packaging is made from many materials, the recycling process is
slightly complex. This acts as restraint for the composite packaging market. Another limitation for market growth of
composite packaging is the fluctuation in the price of raw material.
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Composite Packaging Market Research Report - Forecast to 2023
Segmentation
Composite packaging market is segmented on the basis of material, packaging type, application, and region. On the basis of
material, the market is segmented as plastic, paper, cardboard, and other. A few examples for material based composite
packaging are, Plastic-aluminum composite packaging, cardboard-polyethylene composite packaging, paper-polyethylene
composite packaging, plastic-paper-aluminum composite packaging, and paper-aluminum composite packaging.
Composite packaging market has been segmented based on end users into food & beverage, industrial, personal care,
healthcare, and others. The food & beverage is expected to grow with ~ 5.23 % CAGR by 2023 and is projected to be the
fastest-growing sector during forecast period because of increasing demand of soft drinks, dairy products, dry fruits, snacks,
and other confectionery products. Another reason for the growth of food & beverage sector in composite packaging market
is the rise in disposable income of people, changing lifestyle, and inclination of the growing population toward the readymade products.
With regards to industrial goods, composite cans are used for the packaging of paints, powdered chemicals, lubricants, and
oil. In terms of consumption North America and Europe are the major contributors to the industrial chemical packaging
market.
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Composite Packaging Market Research Report - Forecast to 2023
Segmentation of Composite Packaging
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Composite Packaging Market Research Report - Forecast to 2023
Regional Analysis
Asia Pacific has the largest share in the global market of composite packaging. It is the fastest growing market, followed by
North America and Europe. The growth in this region is attributable to the economic growth, rising population, and rapidly
changing lifestyle. China and India are expected to be at the top of the market because of increasing standard of living, high
disposable income along with the growing population. The demand for food, cosmetics and pharmaceutical products is
increasing in this region with the growing population.
Europe takes second place in the composite packaging market. Development in packaging standards, the introduction of
eco-friendly materials, and innovative packaging designs such as smart packaging drives the market growth in Europe.
key players
The key players of global composite packaging market include Amcor Limited ( Australia), DS Smith Plc. (U.K), Mondi Plc.
(Vienna, Europe), Smurfit Kappa Group (Dublin, U.S.), Sonoco Products Company (U.S.), Crown Holdings (U.S.), Sealed Air
Corporation (U.S.), Universal Packaging Ltd (New Zealand), Najmi Industries (India) and Sota Packaging Pty Ltd. (Australia)
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In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and
industrial visits for its research analyst members.
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Author
Monica Nerkar
Monica Nerkar275   documents Email
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