The global market for paperboard packaging was worth US$108.08 bn in 2013. The market is expected to tread a positive growth trajectory in the foreseeable years. In developed regions of the world, consumerism, which includes goods of various types, has bolstered economic growth. In developing countries, the recently earned economic development is overhauling lifestyles as consumers adopt means to keep up with the changing pace of life. Purchase of packaged foods and placing mail orders for home ware are new trends that require reliable packaging to minimize chances of damage. With these newer trends coming to the fore, several industries are benefitted. These include packaging, transportation, and logistics to name a few. The global paperboard packaging market will reach a valuation of US$181.81 bn by 2020 expanding at a CAGR of 7.8% for the 2014-2020 period.
Browse the full Report of Global Paperboard Packaging Market: http://www.mrrse.com/paperboard-market
The e-commerce sector, which is based on the remote shopping model, requires large volumes of packaging of different types and sizes for shipping orders to faraway destinations. This holds immense potential for the global paperboard packaging industry, especially in the BRICS nations wherein the growing middle-class population is the largest consumer base of this convenient shopping service.
Paperboard is fabricated from a paper-based material, which is either fresh or recycled. Because of its virtues of being lightweight, easy to cut, and tough, paperboard is suitable for a variety of packaging needs. However, for a material to be considered as paperboard, its weight should be 224g/m3, as stipulated by the International Organization for Standardization (ISO).
Food and Beverage Application Dominates Paperboard Packaging Market
The expanding food and beverage industry holds promise for the paperboard packaging industry in the coming years. Packaged meats and seafood, cheeses, ready-to-eat packaged food, juice, fruits, and vegetables are everyday necessities of people living in urban areas. In 2013, the food and beverage sector accounted for the highest volume production of paperboard packaging. This sector held more than 40% share in the global market in the same year.
Non-durable goods, which include cosmetics, cleaning products, and perishable items, is the second-largest application segment of the paperboard packaging market. The growth in the cosmetics industry, which requires specialized packaging of different sizes and grades will boost the growth of the paperboard packaging market. The durable goods application segment, which includes apparel, electronics, and furniture also accounts for a substantial revenue in the global paperboard packaging market.
Browse the full Press Release of Global Paperboard Packaging Market: http://www.mrrse.com/paperboard-industry
Manufacturing Center Status Benefits Asia Pacific Paperboard Packaging Market for Exports
Asia Pacific stood as the largest market for paperboard packaging in terms of both volume and value in 2013. By volume, the region held a share of close to 45% in the global market in the same year. The region is regarded as a manufacturing hub, wherein China is the largest manufacturing center for a large number of commodities. The extremely high volume of exports from the region to distant parts of the world requires sturdy packaging solutions to safeguard products against damage.