Market Overview
The composite packaging has protection, strength, durability, easy handling, and transporting properties. These properties are boosting the Composite Packaging Market. The enhancement of the life span of the packaging materials is another chief property.
The change in lifestyle and disposable income are the growth factors propelling the market. Rapid growth and development of the e-commerce sector are widespread in expanding market performance. The demand for packaging is massively growing due to the online shopping platforms, which require proper packaging. The rise in advanced drugs and the government initiatives such as the World Health Organisation are driving the market. These drugs need composite packaging for the protection of the products.
The usage of premium consumer materials is leading to huge growth opportunities. The retail business demand, increased transportation facilities, and the demand for logistic business are accelerating the Composite Packaging Market. The new product launch is boosting the market globally.
The Composite Packaging Market will acquire a value of USD 74.0 billion to USD 112.8 billion between 2025 to 2030. The market will reach a CAGR of 4.82 % in the forecast period.
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Market Segments
The Composite Packaging Market is segmented into material, end-user, and technology.
The material segment of the market is categorized into plastic, paper, cardboard, and others such as plastic aluminum composite packaging, cardboard polyethylene, paper polyethylene, plastic paper aluminum, and paper aluminum composite packaging.
The end-user fragments are Food & Beverage, Consumer goods, Industrial goods, Healthcare, and Others. Among these, the food and beverage segment outplays as the highest CAGR holding segment and is expected to promote rapidly by covering the major market share in the forecast period. The huge demand for cold drinks, snacks, milk, fruits, food boosting immunity, and confectionery products is driving the segment.
In the technology segment, the launch of green composite packaging materials is promoted due to higher demand due to its eco-friendly and recyclable properties. The techniques developed by the major players occupy the maximum composite packaging market share.
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Regional Analysis
According to the regional growth, the Composite Packaging Market has shown tremendous growth in prominent regions such as the Americas, Asia Pacific, European Union, Middle East, and Africa.
The Asia Pacific holds the largest composite packaging market share worldwide. The Asia Pacific market is growing faster, followed by the North American and European union. Based on the modern living standard in the China and India regions is driving the APAC region. The increased rate of disposable income and the higher population growth in China and India are other reasons behind the growth.
The European region will capture the second position. The region is adopting innovative packaging standards, along with environmentally friendly materials usage is increasing the market size in this region.
Other regions like the Middle East and African regions are showing a huge demand for raw materials. The countries like United Arab Emirates, Saudi Arabia, South Africa, Qatar, and Israel are enlisted here. The Latin American regions will show advancement in the forecast period.
Key Market Players:
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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Industry News
Two global players, LEIPA Georg Leinfelder GmbH and Koehler Paper Group, have developed MULTIVAC and a cardboard composite o meet the market demand for alternative packaging materials. This is used for packing fresh food and meat.
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