The global fiber based packaging market is expected to reach at a 4.2% by the end of 2028, owing to the increasing scope of fiber based packaging in end use industries such as food & beverages, electrical & electronics, healthcare, industrial packaging, etc. About which TMR offers detailed insights and forecasts in the fiber based packaging market report.
Fiber based packaging products have different visual appeal compared to conventional flexible packaging. Fiber based packaging can resist humidity and other solvents, and maintains integrity. The fiber based packaging market is expected to grow followed by the push of end-use industries, such as food & beverages and personal care & cosmetics, which are registering significant growth in several regions due to increased consumption. The decorating surface of carrying units with fiber based packaging is likely to augment market growth during the forecast period.
Adoption of Fiber Based Packaging Product by Fast Food Companies, Retailer across Globe to Drive Market
The rising use of sustainable resources is driving the production rate fulfilled by manufacturer and environment conscious consumers around the world. This impacts significantly on the use of biodegradable, ecofriendly packaging materials among various fast food companies and retailers such as QSRs (such as MC Donald’s, Walmart, etc.). These companies tie up with multi-stakeholders such as Environmental Defense Fund, WWF with an ambition to lessen different types of environmental hazards, which recommend the required changes in packaging materials to emphasize and widen the use of paper based packaging. These paper based products help in reducing the cost of the manufacturer companies at the initial level, which ultimately helps the consumer to buy more cost effective packaged products. According to a report, fast food companies and retailer are getting benefitted extensively with the help of using paper and paperboard packaging. This trend of using paper and paper board packaging has created a gigantic income of revenue across the world.
Flourishing Growth of Fiber Based Packaging Products in APAC to Provide Growth Opportunities
Countries such as China and India are among the major consumers of fiber based packaging products. Rapid urbanization and increase in consumers spending pattern are prominent factors, which are pushing the demand for fiber based packaging. Additionally, increasing consumption of processed food, cosmetic, and generic medicine has accelerated the growth of the fiber based packaging market. Advancement in technological innovation and growth in use of manufacturing and packaging tool across the APAC market have further created a tremendous opportunity for companies and future growth in neighboring market.
Huge Installation Cost of Machinery and Equipment to Negatively Affect Revenue Margin in Long Run
Paper manufacturing process consists of multiple stages ranging from designing to installation. However, installation process sustained by the manufacturer is a cost oriented and an expensive procedure, which is hampering the growth of the fiber based packaging market. Additionally, the cost of running paper-based machinery equipment is large, which is creating difficulties for the fiber based packaging market to grow in some countries such as Poland, Russia, etc. These factors lead to the phenomenon of importing various essential packaging products at higher margin, which ultimately forces the market to be suppressed by other packaging material markets.
Additionally, majority of small-scale manufacturers is failing to adopt these kinds of packaging development due to the highest operation cost, which is leading them to huge losses and acting as a restraint in the growth of the fiber based packaging market.
Securing Patents in Enzyme Pulping Processes Enables Development of Eco-friendly Molded Pulp Materials
Highly efficient manufacturing equipment are increasing production levels in the fiber based packaging market. Deluxe— a specialist in eco-friendly sustainable development is providing designing plans and technology for the blowdown systems meant for molded pulp. Better equipment ensures better capacity, efficiency, and quality in molded pulp packaging products. Companies in the fiber based packaging market are seeking design, planning, and technical support from consultant firms to manage pulp providing equipment and sewage treatment.
Manufacturers are taking efforts to gain patent in enzyme pulping processes to develop eco-friendly molded pulp materials. They are setting new production targets with eco-friendly molded pulp materials to boost their credibility.
The global fiber based packaging market is highly fragmented in nature into which, a large portion of market share is held by domestic market players. Some of the key players operating in the global fiber based packaging market are International Paper Company, Smurfit Kappa Group PLC, Georgia-Pacific LLC, WestRock Company, Reynolds Group Holdings Ltd, Stora Enso Oyj, DS Smith Plc, Huhtamaki Oyj, Sonoco Products Company, Pratt Industries Inc., KapStone Paper and Packaging Corp, Mayr-Melnhof Karton AG, Rengo Co., Ltd., Mondi Group, AR Packaging Group AB, BillerudKorsnäs AB , U.S. Corrugated, Inc, UFP Technologies, Inc. and ESCO Technologies Inc, and Brodrene Hartmann A/S, etc.
The tier structure is formulated on the basis of segmental revenue and market share of the company. As per tier structure, International Paper Company, Smurfit Kappa Group PLC, Georgia-Pacific LLC, WestRock Company, Reynolds Group Holdings Ltd, Stora Enso Oyj are the tier 1 players in the fiber based packaging market. All the players are focusing on widening their product portfolio for multiple applications to gain a competitive edge in the market. Tier 2 players include DS Smith Plc, Huhtamaki Oyj, Sonoco Products Company, Pratt Industries Inc., KapStone Paper and Packaging Corp, Mayr-Melnhof Karton AG, Rengo Co., Ltd., Mondi Group, AR Packaging Group AB, BillerudKorsnäs AB and Tier 3 players include U.S. Corrugated, Inc, UFP Technologies, Inc. and ESCO Technologies Inc, and Brodrene Hartmann A/S.
By Packaging Type
By Material Type
By Material Source
By End User Base
By Level of Packaging
Scope of the Report
A new study on the global fiber based packaging market, providing forecast for the period of 2021-2028. In the study, growth opportunity for the fiber based packaging market is witnessed. The report provides valuable insights, which enable readers to make winning business decisions for future growth of their businesses. The report highlights significant factors that are constantly determining the growth of the fiber based packaging market, untapped opportunities for manufacturers, trends and developments, and other insights across various key segments. Macroeconomic factors that are directly or indirectly affecting market growth are also incorporated in the report.
Key indicators associated with the fiber based packaging market have been calculated thoroughly in the report. The study enumerates vital market dynamics such as key drivers, challenges, and trends, along with opportunities in the global fiber based packaging market. A comprehensive study on the value chain, which includes component suppliers, manufacturers, distributors, and end users have been incorporated in the global market report. Other key aspects laid down in the market include pricing strategy of leading market players and comparative analysis of fiber based packaging. Furthermore, forecast factors and forecast scenarios of the fiber based packaging market have been covered in the report to understand future prospects of the market.
A comprehensive evaluation and forecast on the fiber based packaging market are provided on the basis of packaging type, material type, material source, level of packaging, end user base, and region.
Y-o-Y growth comparison, volume, revenue comparison, and market share comparison of various market segments are provided in the report. The fiber based packaging market is analyzed at both regional and country levels.
The report delivers an exhaustive assessment on the structure of the fiber based packaging market, in tandem with a dashboard view of all leading company profiles in the report. Every company’s share analysis on market players have also been presented in the report, apart from the footprint matrix of profiled market players. The report depicts the presence of fiber based packaging manufacturers by leveraging an intensity map. It also highlights key end users for fiber based packaging.
A realistic methodology, along with a holistic approach makes the base for sharp insights, which are provided in the fiber based packaging market for the study evaluation period. The VRR report comprises of detailed information on growth prospects, along with riveting insights into the forecast assessment of the market.
Extensive primary and secondary researches have been employed to garner keen insights into the forecast study of the fiber based packaging market. The report has further undergone a cross-validation by in-house professionals to make the fiber based packaging market report one-of-its-kind with the highest credibility.
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