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According to the analysts at Technavio, the global fruit juice packaging market will witness steady growth and will post a CAGR of more 3% over the forecast period. An increasing demand for single-serve packs is one the key factors driving the growth of this market in the coming years. The rising number of single-person households has led to an augmented demand for single serve packs in many consumer products that are categorized under mass consumption brands. Moreover, the preference for single serve packs fuel opportunities switching brands, as consumers are not committed to consuming large volumes at a time but rather buy products regularly. Additionally, most merchants opt for packaged products that occupy less shelf space. They also prefer attractive packaging to increase shelf presence which will eventually lead to an increase in sales.
The increasing adoption of environment-friendly products is an emerging trend spurring this market’s growth prospects over the forecast period. Carton is biodegradable and requires less time to degrade completely when compared with other packaging materials. It is estimated that cartons degrade completely in five years under natural conditions, which is significantly faster than metal cans, which take close to 500 years and PET bottles, which take an estimated 30,000 years to degrade. Moreover, most governments are encouraging the use of environmentally friendly materials and are providing subsidies or exemption of tax. For instance, Weyerhaeuser, the largest owner of timberland, is encouraging and supporting recycling. The increasing adoption of eco-friendly products will contribute to the growth of this market until the end of 2020.
During 2015, the carton packaging segment led the market and accounted for more than 54% of the market share in terms of revenue. Factors such as the increasing use of eco-friendly packaging material will aid in the growth of this market segment in the coming years.
In terms of geography, EMEA dominated the global fruit juice packaging market and is expected to reach more than USD 2 billion by 2020. The increasing consumption of fruit juice and stringent environment laws in countries like Germany, France, and the UK will aid the growth of this market in this region.
The global fruit juice packaging market is highly competitive owing to the presence of several well-diversified international and local suppliers. The prominent international players are increasing their global footprint which is posing a problem for the domestic suppliers. The competitive environment is expected to intensify with an increase in product extensions, innovations in technology, an increase in product extensions, and M&A.
Key vendors in this market are -
Other prominent vendors analyzed in this report are Ardagh Group, Can-Pack, CCL Industries, CKS Packaging, DS Smith, Evergreen Packaging, Genpak, International Paper, MeadWestvaco, Mondi Group, Owens-Illinois, Plastipak Packaging, Printpack, Silgan Holdings, Sonoco Products, and Stora Enso.
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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 opportunity assessment for different types of fruit juice packaging
PART 07: Market segmentation by packaging type
PART 08: Geographical segmentation
Global fruit juice packaging market by geography
PART 09: Market drivers
PART 10: Impact of drivers
PART 11: Market challenges
PART 12: Impact of drivers and challenges
PART 13: Market trends
PART 14: Vendor landscape
PART 15: Appendix
PART 16: Explore Technavio
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