The composite packaging market is a fast-moving sector that, over an indispensable part of packagings industry. Composite packaging is the integration of the counterparts which consist of two or more separate elements and creates solutions that are superior to those using each alone. “Here we have a market that is created by various factors, such as technological advances, environmentally friendly concerns and changes in consumer preferences”.
A key sales driver is the continuous technological development which will determine the number of sales. Material science evolution and manufacturing techniques are important in composing such composite and advance packaging components. Meanwhile, Materials processing is a continuous quest on manufacturers’ side to explore various combinations of materials to become the missing link that leads to advancement in strength, durability and barrier properties of packaging. This everlasting exponential increase of technologies puts the process in a position where it can take care of consumers’ requirements that are placed in various product segments including food and drinks as well as pharmaceutical products
The environment has unusually expressive stake that influences the sustainability of the composite packaging market. Considering the ongoing recycling revolution of today, sustainability is regarded as the focus for businesses and individuals alike, which is fueling the high demand for eco-friendly packaging. Composite materials that are recyclable, compostable or made from renewable raw materials attract attention both of scientists and customers. The compound manufacturers are started to direct resources to research and development with the goal of developing of environmentally friendly composite packaging and these are responding to the rising awareness about the environmental issues.
Furthermore, the effort to mitigate environment degradation by packaging required by regulations recognize the importance of this market dynamics to customers. Regulations of governments and international mechanisms are being adhered to in the aspect of reducing single-use plastics and improving package management standards. This has pushed forward binary approach to environmental safety and adoption of ecofriendly alternatives not only by companies from composite packaging market but also due to stringent standards in field of environment. The fulfillment of the current regulations imperatives the economic strategies of persons or organizations in the business market.
Consumer preferential conditions and their living style holds a primary significance in the evolution of composite packaging market. Particularly, the attention to the convenience, takeaway packaging and shifts to e-commerce parts, ingredients of which involve lightweight and resilient packaging materials. The more and more of the composite packaging materials that could strike a balance among toughness and flexibility and also reusability are getting popular; hencewith such qualities, they are on the rise. For the second thing, everywhere the consumer behavior come to the frontline and they start considering the visual appeal of packaging which leads the market to the attractive and customized solution.
The composite packaging market is similarly affected by such macroeconomic factors as international trade and geo-political activities on the global scale. Volatility of raw material prices, continuity of supply chain, and trade tension as the main elements of industry price structure. Manufacturers cannot do without changes to sustain their competitiveness, and to keep a functioning supply chain.
Composite Packaging Market Size was valued at USD 85.59 billion in 2023. The Composite Packaging industry is projected to grow from USD 89.02 Billion in 2024 to USD 126.11 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.45% during the forecast period (2024 - 2032). From the market scenario, it is marked that the packaging material is made up of hybrid material having multiple characteristics. The right strength, protection, durability, ease of handling, and ease of transportation helps in boosting the market. Some of the additional features of the packaging are enhancement of shelf life of the packaging materials, rise in strength to weight rise, and some of the barrier that provides huge protection.
Holmen, a manufacturer of paperboard and innovative papers, launched Invercote Touch in May 2024 for high-end premium packaging solutions. The uncoated paperboard belonging to the Invercote range provides a tactile experience while maintaining superior printability and specifications. It does not contain any pigment coatings, making it supportable for non-coated printing properties and a multi-layered baseboard that is claimed to have excellent converting properties. Additionally, Invercote Touch incorporates the strength and stiffness possessed by other Invercote products. According to Holmen Invercote Packaging and Graphics product manager Edvin Thurfjell: “Invercote Touch is an exclusive combination of uncoated paperboard where its look and feel is key, as well as other features that make Invercote so suitable for exceptional packaging.”
Globally it is marked that the competitors playing in the market are Amcor Limited of Australia, DS Smith PLC of United Kingdom, Mondi Plc of Vienna in Europe, Smurfit Kappa Group of Dublin in the United States, Sonoco Products Company of United States, Crown Holdings of United States, Sealed Air Corporation of United States, Universal Packaging Limited present in New Zealand, Najmi Industries in India, Sota Packaging Pty Limited of Australia. These companies plan various strategies which will help in raising their demand for their materials. These key players will merge, build partnerships, and acquisitions which will help and bring them to the top-notch.
In March 2024, PepsiCo, along with partners within its flexible food packaging supply chain, introduced new luxury snack packets comprising 50% post-consumer recycled plastic. The new pack meets strict food-contact requirements and was introduced last year in relation to PepsiCo’s Sunbites brand in the UK and Ireland. This process produces plastic waste into food-grade packaging through advanced recycling process techniques. This method complements mechanical recycling processes and conforms to European regulations on sensitive/medical device packaging.
It has been marked that the Asia Pacific region occupies the largest composite packaging market share globally. Asia Pacific market projects at a faster pace followed by the North American and European markets. The expansion of market size is due to its growth in population along with economic expansion and the change in their present lifestyle. Due to the modern standard of living the regions of China and India are expected to occupy the topmost position of the market. With the rise in disposable income along with the rapid growth of population in China and India, the rise of market value is also marked. With the widespread population, the rise in demand for food, cosmetics, and the demand for pharma products made these regions more popular for composite packaging. The European region is regarded to occupy the second most composite packaging market with having some of its common reasons as that of the above. Moreover, this region is very much popular for its innovative packaging standards, use of environmentally friendly materials, and modernized packaging designs which are smarter enough for increasing the composite packaging market value and composite packaging market size. Some of the Middle East and African regions also show such demand for these raw materials. Some of this region includes Saudi Arabia, South Africa, United Arab Emirates, Qatar, and Israel. It has been marked that the Latin American regions have also shown such advancement. Some of them include Brazil, Mexico, and Colombia.
Corona, a global beer brand, announced in June 2022 about launching a 100 percent biodegradable compostable six-pack made from 100% barley straw in India. Corona’s new six-pack made from 100% barley straw aligns with this year’s World Environment Day theme of ‘Only One Earth’, focusing on “Living Sustainably in Harmony with Nature”.
August 2023 sees the introduction of the BioPharmaPro family of innovative products, materials, and services for fluid path single-use equipment by Trelleborg Healthcare and Medical to speed up the progress of life-changing cures. Trelleborg Healthcare & Medical’s BioPharmaPro range, which builds on a tradition of originality, presents solutions developed from an extensive array of materials such as silicones, other elastomers, thermoplastics, composites that can be used in manufacturing tubing, custom molded components, processing columns and even complete assemblies and more.
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