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Board Packaging Market
Board packaging is used to package food, beverages, and other products. Owing to their multi-layered construction.
SEATTLE, WA, UNITED STATES , January 12, 2022 /EINPresswire.com/ -- Overview
Board packaging is used to package food, beverages, and other products. Owing to their multi-layered construction, paperboards can have specific performance benefits and flexibility in the type of fiber used. Virgin fiber is obtained directly from wood. The process of pulping is a chemical or mechanical process that separates the cellulose and non-cellulose components of wood. After the cellulose and non-cellulose components have been removed, they can be recycled to provide energy. Corrugated board is the principal type of packaging used for shipping significant products in retail stores. Moreover, it is very economical to use. It is also available in a variety of sizes and weights. Corrugated board packaging is a popular and practical way to ship a wide range of products. It also has a minimal effect on the environment.
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Competitive Landscape
Major companies contributing to the global board packaging market include Cascades Inc., WestRock Company, Stora Enso OYJ, International Paper Company, Georgia-Pacific, Smurfit Kappa Group plc, All Packaging Company, Graphic Packaging International, LLC, and Amcor Plc.
Drivers
A booming e-commerce industry, in conjunction with the growing demand for corrugated board boxes from e-commerce providers, is expected to augment the growth of the board packaging market during the forecast period.
Moreover, the increasing awareness of sustainable packaging solutions in the food and beverage (F&B) industry on account of growing government initiatives is expected to further cushion the growth of the board packaging market over the forecast period.
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Summary of the COVID-19 Aftermath
The outbreak of the COVID-19 virus was a major setback for the global board packaging market. The crisis-fueled halt of manufacturing facilities and the cancellation of shipments has significantly affected the supply chain of the market. On the plus side, increasing consumer inclination towards online shopping is positively influencing the market.
Key Takeaways
The board packaging market is anticipated to grow at a CAGR of 8.1% during the forecast period on account of increasing adoption of sustainable packaging solutions across the retail and e-commerce sectors. For instance, in December 2021, Metsä Board, a paper and pulp manufacturing firm in Finland, partnered with Valmet, a company focused on advanced packaging, to boost its paper-board folding capacity from 400,000 tons to 600,000 tons annually.
Considering the territorial landscape, the Asia Pacific region is well-positioned to reign supreme in the global board packaging market at the helm of a booming e-commerce industry, growing government support, and a large consumer base.
In the runner-up spot, the North American region is viewed as a future ace for the global board packaging market in the light of increasing demand from the retail and logistics space for packaging electrical goods.
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Important Features that are under Offering and Key Highlights of the Reports:
– Potential and niche segments/regions exhibiting promising growth.
– Detailed overview of Market
– Changing market dynamics of the industry
– In-depth market segmentation by Type, Application, etc.
– Historical, current, and projected market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of Market
– Strategies of key players and product offerings
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✤ SWOT Analysis is used to define, assess, and analyse market competition by focusing on the world's major manufacturers. The market is defined, described, and forecasted by type, application, and region.
✤ Examine the potential and advantages of the global and major regional markets, as well as the opportunities and challenges, as well as the constraints and risks.
✤ Determine whether market growth is being driven or hampered by trends and factors.
✤ Stakeholders will be able to assess market potential by identifying high-growth categories.
✤ Conduct a strategic analysis of each submarket's growth trends and contribution to the market.
✤ Competitive developments in the market include expansions, agreements, new product launches, and acquisitions.
✤ To develop a strategic profile of the major players and conduct a thorough analysis of their growth strategies.
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✔ In the next seven years, what innovative technology trends should we expect?
✔ Which sub-segment do you believe will grow the fastest over the next few years?
✔ By 2028, which region is predicted to have the largest market share?
✔ What organic and inorganic strategies are businesses employing to gain market share?
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