Composite Packaging Market Research Report - Forecast to 2023

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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. 2 www.marketresearchfuture.com
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. Report Sample@ https://www.marketresearchfuture.com/sample_request/2986 3 www.marketresearchfuture.com
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Composite Packaging Market Research Report - Forecast to 2023

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