Credit: Chelsea Bock
A recent study from Transparency Market Research shows that the global fiber-based packaging market is expected to grow at a CAGR of 3.8% in terms of revenue by 2025, Packaging World reported. Based on the market’s current valuation, TMR predicts it will become $383.5 billion by the end of 2025.
TMR’s report “Fiber based Packaging Market: Global Industry Analysis and Forecast 2017 – 2025” looks at the global fiber-based packaging market to identify opportunities, provide updates, and insights about various market segments.
The report is divided into sections: packaging type, material type, material source, level of packaging, end user base, and region. In addition, the report shows the corresponding revenue forecast in terms of absolute dollar opportunity, which TMR says is usually overlooked while forecasting the market.
“[A]bsolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve as well as to provide potential resources from sales perspective of the global fiber-based packaging market,” according to TMR.
Key trends, drivers, challenges, and opportunities identified in the report include a forecast that food packaging will have nearly a 40% share in the overall fiber-based packaging market, Packaging World reported.
“It is increasingly preferred by consumers due to its advantage of being lightweight and cost-effective,” Packaging World’s Anne Marie Mohan wrote. “Factors such as easy availability of raw materials are attracting manufacturers to this packaging.” Market growth is also being driven by concerns over global warming.
The report profiles these players in the market:
- International Paper Company
- DS Smith
- Huhtamaki Oyj
- Smurfit Kappa Group
- Sonoco Products Company
- WestRock Company
- Georgia-Pacific
- Pratt Industries
- Reynolds Group Holdings
- U.S. Corrugated
- UFP Technologies
- ESCO Technologies
- Brodrene Hartmann
- KapStone Paper and Packaging
- Mayr-Melnhof Karton
- Rengo Co.
- Mondi Group
- Stora Enso
- AR Packaging Group
- BillerudKorsnas
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