Enjoy complimentary customisation on priority with our Enterprise License!
The global composite packaging market is anticipated to grow at a steady rate and will post a CAGR of close to 5% during the forecast period. The increasing demand for packaging products from the e-commerce market will drive the growth prospects for the global composite packaging market during the forecast period. With the increasing online shopping and the shipment of products, the demand for packaging products has increased. It has been noted that most online retailers use different types of composite cans based on the type of product to be transported. Moreover, one of the key business requirements in the e-commerce marketplace is the need for effective packaging solutions, the rising need for which leads to the growth of this market. Furthermore, with the growth of B2C e-commerce across the globe, the global composite packaging market will expand during the forecast period.
The increasing demand for the premium packaging of materials will also drive the growth prospects for the market during the forecast period. Premium packaging materials are used for premium consumer products such as cosmetics and other household items, and its high popularity can be attributed to the growth of developed markets like the US, Japan, and Western Europe. One of the major factors that drives this market’s growth is the use of expensive ingredients, technologies, colors, and other raw materials by vendors.
The market is highly fragmented due to the of the presence of many multinational, regional, and local vendors. The performance of these vendors in the market is affected by the changing consumer spending patterns, consumer tastes and living standards, demographic trends, and regional, national, and local economic conditions. Since the local players cannot compete with international vendors in terms of quality, features, and range of offerings, they compete by offering innovative solutions at a lower price. Furthermore, it is expected that the international players will grow inorganically during the forecast period by acquiring regional or local players.
Key vendors in this market are -
Other prominent vendors in the market include Crown Holdings, Najmi Industries, Sealed Air, SOTA Packaging, and Universal Packaging.
The food and beverage industry accounted for the maximum market share during 2015 and will continue to dominate the market until the end of 2020. One of the major drivers that influence the market segment’s growth is the increasing demand for snacks and confectionery products. Also, the demand for these products has increased significantly because of growing populations, a rise in purchasing power, and increased fitness awareness among people.
In 2015, the Americas led the market by accounting for the maximum market share. However, it has been noted that the APAC region will witness the highest growth during the next four years. The market will witness a decline in the Americas as the packaging manufacturers are shifting their manufacturing facilities to countries such as India and China to reduce operational costs and maximize profits.
Technavio also offers customization on reports based on specific client requirement.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by end-users
PART 07: Geographical segmentation
PART 08: Market drivers
PART 09: Impact of drivers
PART 10: Market challenges
PART 11: Impact of drivers and challenges
PART 12: Market trends
PART 13: Vendor landscape
PART 14: Explore Technavio
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.