Fiber Based Packaging Market Size Worth USD 437.65 Billion in 2032 | Emergen Research

Vancouver, Nov. 23, 2023 (GLOBE NEWSWIRE) -- The global fiber-based packaging market size was USD 319.01 Billion in 2022 and is expected to register a steady revenue CAGR of 3.2% during the forecast period, according to latest analysis by Emergen Research. Increasing concern regarding global warming, rising trend of consuming packaged food products, and wide application of fiber-based packaging in diverse end-use industries are key factors driving market revenue growth.

Natural fibers are becoming more popular as these are environment-friendly and offer affordability and biodegradability. Fiber-based packaging refers to packaging materials made from natural fibers such as paper, cardboard, and corrugated board. This packaging be easily molded into different shapes and sizes to accommodate various products. This flexibility allows companies to create unique and eye-catching packaging designs that can enhance brand visibility and attract consumers. Companies have adopted fiber-based packaging quickly because of shifting consumer preferences toward eco-friendly items. It is also encouraged for manufacturers to design their products in accordance with the demands of different industries.

 For instance, on 21 July 2022, Sealed Air announced the launch of BUBBLE WRAP. In curbside recycling bins, individuals can recycle this particular brand of fiber-based padded mailer, or paper bubble mailer. This reduces the dimensional weight and shipping expenses of standard boxes by being smaller and lighter. It has also completed tests conducted in laboratories accredited by the International Safe Transit Association to evaluate the resilience of packing to the demands of shipping.

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However, compared to packaging made of other materials, such as plastic, packaging made of fibers is less heat- and oil-resistant, which could restrain market revenue growth. In addition, production of these types of packaging requires excessive use of water and electric supply, which could also restrain market revenue growth.

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Major Companies and Competitive Landscape

The global fiber based packaging market is moderately fragmented, with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective fiber based packaging.
 Some major players included in the global fiber based packaging market report are:

• Pactiv Evergreen Inc.
• Evergreen Packaging
• Orora Packaging Australia Pty Ltd
• Stora Enso Oyj
• Huhtamaki
• OJI FIBRE SOLUTIONS (NZ) LTD.
• WestRock Company
• Ahlstrom
• Smurfit Kappa
• International Paper
• McKinley Packaging
• Graphic Packaging International, LLC

Strategic Development

• On 12 September 2023, Apple announced its brand-new Apple Watch portfolio, which includes its first-ever carbon-neutral products. Apple has also discontinued the use of leather in all of its product lines as a part of Apple 2030 and the company's broader environmental initiatives launched its first packaging made completely of fibers for the new Apple Watch lineup and continues to employ more recycled materials in iPhones.
• On 7 August 2023, Graphic Packaging International, a leader in fiber-based consumer packaging announced the product launch of a Coated Recycled Paperboard (CRB) innovation, PaceSetter Rainier. It can compete directly with SBS and Folding Box Board (FBB) owing to brightness and whiteness that are superior to those of conventional CRB.  Graphic Packaging is increasing capacity and technical expertise in CRB production to serve more clients.

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Some Key Highlights From the Report

• The corrugated cardboard segment is expected to account for largest revenue share in the global fiber based packaging market over the forecast period. This is because glass products, electronic parts, and liquid chemical products are all kept safe and secure in corrugated cardboard packaging. In addition, resilience of corrugated material contributes to the preservation of packaging's integrity and protection of items from the weather. The physically robust design of corrugated boxes, which provides an excellent cushion for any object, also ensures that products are kept secure during long-distance transit as well as frequent shipment and handling.
• The corrugated boxes segment is expected to register a steadily fast revenue growth rate in the global fiber-based packaging market over the forecast period. This is due to rising trend of online shopping, rapid expansion of the e-commerce industry, and benefits including sustainability, personalization, and cost-effectiveness. Products are kept safe when handled, packaged, and moved over long distances in corrugated boxes. For delicate and sensitive items, the type of corrugated protection can be changed by using different thicknesses and widths.
• The Food & Beverage (F&B) segment is expected to account for a significantly large revenue share in the global fiber-based packaging market during the forecast period. This is due to rising need for natural fibers in the F&B industry because of their affordability, biodegradability, and environmental friendliness. In addition, rapid growth of the e-commerce industry, convenient online shopping, and various digital payment options are rising demand for fiber-based packaging and driving revenue growth of this segment.

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Emergen Research has segmented the global fiber-based packaging market on the basis of material type, product type, end-use industry, and region:

• Material Type Outlook (Revenue, USD Billion; 2019-2032)
  • Corrugated Board
  • Paperboard
  • Kraft Paper
  • Molded Pulp
• Product Type Outlook (Revenue, USD Billion; 2019-2032)
  • Corrugated Boxes
  • Cartons
    1. Folding Cartons
    2. Liquid Cartons
    3. Hinge Lid Cartons
  • Partitions & Inserts
  • Bottles & Cup Carriers
  • Trays
  • Plates
  • Clamshells
  • Display Packaging
  • Bags & Sacks
  • Others
• End-use Industry Outlook (Revenue, USD Billion; 2019-2032)
  • Food & Beverage (F&B)
  • Healthcare and Pharmaceuticals
  • E-commerce and Retail
  • Consumer Electronics
  • Cosmetics and Personal Care
• Regional Outlook (Revenue, USD Billion; 2019-2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. UK
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of Middle East & Africa

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