highly efficient for equipment is driving the Fiber Based Packaging Market
Technavio analyzes that the Fiber Based Packaging Market is expected to grow at a CAGR of 3% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 49.8 billion.There are various factors that contribute to the growth of the market. The Fiber Based Packaging Market is renowned for its high-efficiency in equipment utilization. This market's utilization of renewable resources, such as paper and plant-based materials, allows for streamlined manufacturing processes and reduced waste. The use of advanced technology in the production of fiber-based packaging further enhances equipment productivity, making it a preferred choice for businesses seeking sustainable and efficient packaging solutions.
The global fiber based packaging market is experiencing significant growth due to increasing consumer demand for eco-friendly and sustainable packaging solutions. This trend is particularly prominent in the food industry, where fiber based packaging, such as corrugated boxes, partitions, and inserts, is increasingly being used for packaged foods and ready-to-eat meals. In the electronics industry, fiber based packaging is also gaining popularity due to its recyclability and biodegradability. Kemira Oyj, a leading chemical company, is at the forefront of this trend, offering innovative barrier technology that reduces and replaces plastics and fluorochemicals in food packaging. Their new water-based dispersion barrier enables fully recyclable and repulpable end products, aligning with the industry's move towards more sustainable packaging solutions. Additionally, advancements in technology, such as 3D printing, offer new opportunities for fiber based packaging to replace traditional plastic packaging in various industries.
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Fiber Based Packaging Market Segmentation
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Fiber based packaging, derived from materials like paper and pulp, offers eco-friendly solutions in the form of cartons, bags and pouches, and corrugated packaging. Ideal for industries dealing with food and beverages, e-commerce, and electronics, fiber based packaging is a plastic alternative that prioritizes biodegradability and recycling. With advancements in technology, fiber based packaging includes molded fiber, low cost production through enzyme pulping processes, and caters to sensory experiences and packaged food demand. Types include corrugated boxes, partitions and inserts, trays, plates, clamshells, and display packaging.
In the intricate fiber-based packaging market landscape, various stakeholders participate in different stages of the value chain. These include raw material suppliers, who provide cellulose-based inputs such as wood pulp, straw, and recycled paper, as well as those offering specialized additives for enhancing the desired properties of the packaging. The research and development sector plays a pivotal role in innovating eco-friendly, moisture-resistant, and customized fiber-based solutions for industries like food and beverages, e-commerce, and others. Subsequently, manufacturers scale up production to cater to market demands, utilizing raw materials such as kraft paper, cartons, bags, and pouches. Distribution channels ensure seamless delivery to end-users, thereby closing the loop in the fiber-based packaging market ecosystem.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
Jesse Maida
Media & Marketing Executive
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