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Overview of the global secondary packaging market
According to Technavio's market research report, the global secondary packaging market will grow at a CAGR of more than 5% during the forecast period. One of the key drivers that will stimulate growth in the market during the projected period is the growth of the e-commerce sector. The products that are shipped or transported across long distances must be securely packed to prevent damage or breakage. The lack of proper packaging may cause consumer dissatisfaction, which, in turn, creates a negative image of the supplier in public. Also, the company must bear an additional cost if a consumer returns the damaged product. This compels these e-commerce companies to invest in high-quality packaging products. They highly rely on corrugated boxes that account for around 29%?32% of total e-commerce packaging industry. The high dependence of e-commerce companies on the secondary packaging industry will drive the market's growth during the estimated period.
The emergence of biodegradable plastic acts as one of the key trends that is responsible for the growth of the global secondary packaging market. The application of biodegradable plastics in the secondary packaging industry will increase because they are highly decomposable in nature. Bio-based plastic, biodegradable plastic, and bio-neutral plastic are the three main types of bioplastics that are used in the secondary packaging industry.
Competitive landscape and key vendors
The global secondary packaging market has many international players and is fragmented. Large firms in the cardboard packaging market are increasingly focusing on developing innovative products by heavily investing in research and developmental activities. They also have a strong financial strength that enables them to offer their products at lower costs.
Key vendors in this market are -
International Paper Company
Other prominent vendors in the market include Ball Corporation, Berry Plastics, Crown Holdings, Deufol, Molins, Mondi, Owens-Illinois, RPC, Sealed Air, and Smurfit Kappa Group.
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Segmentation by end-users and analysis of the secondary packaging market
Food and beverages industry
Personal and household care industry
The recent increase in the consumption of processed and packed food products is driving the adoption of secondary packaging materials in the food and beverages industry. The hectic work schedules and an increase in disposable income will boost the demand for processed food, which, in turn, will drive the segment's growth during the estimated period.
Segmentation by geography and analysis of the secondary packaging market
The Americas is witnessing a rise in the popularity of e-commerce, which, in turn, will increase the sales volume of products through the e-commerce model. Consequently, the demand for secondary packaging materials will also increase in the region. The rising dependence of people on the consumption of packaged food in Brazil will boost the application of secondary packaging in the forthcoming years.
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Key questions answered in the report include
What will the market size and the growth rate be in 2021?
What are the key factors driving the global secondary packaging market?
What are the key market trends impacting the growth of the global secondary packaging market?
What are the challenges to market growth?
Who are the key vendors in the global secondary packaging market?
What are the market opportunities and threats faced by the vendors in the global secondary packaging market?
What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
What are the key outcomes of the five forces analysis of the global secondary packaging market?
Technavio also offers customization on reports based on specific client requirement.
This upcoming industry research report on the global secondary packaging market offers insights into the key trends and emerging drivers influencing the growth of the transportation and logistics industry. Our collection of market research reports for the transportation and logistics industry follow a scrupulous data collection methodology and offer an analysis of fast growing market segments like packaging.
By considering the market forecast and size, the market research professionals at Technavio offer an exclusive picture of the global secondary packaging market for the estimated period of 2017 to 2021. Furthermore, our research practices help clients develop effective growth strategies and stay updated with the continually changing market landscape. This market report on the global secondary packaging market also presents a detailed analysis of several packaging products and services based on the assessment of the information gathered from specific resources such as manufacturers and decision makers.
This market research report on the global secondary packaging market also takes into account the growth of similar markets like ESD packaging and digital printing market for packaging, which are anticipated to post an impressive CAGR of close to 8% and about 11%, respectively during the forecast period. This upcoming market research report on the global secondary packaging market also covers vendors like CCB Packaging Inc., Unette Corporation, DHL, Deufol, and Saddle Creek Corporation.
The upcoming industry research report on the global secondary packaging market also categorizes the key drivers, major trends, as well as the restraints faced by the packaging industry. It also presents insights into the rapidly changing competitive scenario to give clients a realistic picture of the forthcoming events within the transportation and logistics industry. Technavio also provides deep-dive market assessments into the sectors such as transportation and distribution, warehouse and storage, and tags and labels.
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