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 and Africa) — Global Forecast Till 2023

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 e-

commerce 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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