Eco-Friendly Sustainable Materials to Intensify Asia Fiber Based Packaging Industry: Ken Research
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According to the study “Asia Fiber Based Packaging Industry Situation and Prospects Research report�, the fiber based packaging industry is segmented into various types such as corrugated boxes, cartons, partitions, inserts, bottles carriers, cup carriers, trays, plates, clamshells, display packaging, bags, sacks and others. The materials used in the manufacture of fiber based packagings are corrugated, boxboard/carton board, moulded pulp, and kraft paper. Various end-users of fiber based packagings are food packaging, beverages packaging, tobacco packaging, healthcare packaging, personal care & cosmetics, homecare & toiletries, electrical & electronics, other industrial packaging, e-commerce packaging, chemical and fertilizers. Corrugated boxes are used for various packaging needs and are mainly used in transit packaging across several industry sectors. Asian fiber based packaging market is segmented into virgin and recycled by material source. Recycled fiber segment is likely to dominate the Asian markets accounting for a major share. Within the fiber based packaging market, cartons hold significant share in the market as they are widely preferred for primary packaging in food and beverages, cosmetics and personal care, pharmaceuticals, etc.
• Evolution is a continuing process within the packaging industry. Packaging serves multiple functions such as physical protection, product marketing, tamper evidence, theft protection, durability, and portion control. From the past few years sustainability was made essential in packaging solutions driving for more growth in the Asian markets. Environmental impact of nonrecyclable materials has led to a demand for eco-friendly packagings adhering to the environmental protection guidelines. Fiber based packaging utilizes renewable, reusable or biodegradable materials in the process of product packaging. Millennials prefer packaging to be sustainable due to awareness of environmental degradation. Fiber based packaging is attractive and consumers are willing to invest and pay more for the same.
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Geographically, Asia fiber based packaging market is spread across China, Japan, India, Korea, Saudi Arabia and other region. The leading players in Asia fiber based packaging market are International Paper Company, DS Smith Plc, Huhtamaki Oyj, Smurfit Kappa Group PLC, Sonoco Products Company, WestRock Company, Georgia-Pacific LLC, Pratt Industries Inc., Reynolds Group Holdings Ltd., U.S. Corrugated, Inc., UFP Technologies, Inc., ESCO Technologies Inc., Brodrene Hartmann A/S, KapStone Paper and Packaging, Mayr-Melnhof Karton AG, Rengo Co., Ltd., Mondi Group, Stora Enso and AR Packaging Group AB. Leading players are investing heavily in research and development for more innovative products to meet the increasing demands. The fiber based packaging market has witnessed extraordinary growth in the recent years due to increasing applications across several end-use industries. Corrugated boxes account for more than 50% of the fiber based packaging market amongst all type of fiber based packaging materials. Food packaging accounts for a major share because Asia is anticipated to emerge as the most lucrative market in terms of both value and volume over the next few years.
• A shift in consumer preferences for light weight, cost effective materials and easy availability of raw materials has resulted in the impressive growth of Asian fiber based packaging market. Fiber based packagings employ highly automated machines for the design of paperboard products which substantially reduces labour and packaging costs. The growing concerns of global warming are also having a positive impact on the growth of global fiber based packaging market. Almost all manufacturers and consumers are focussing on eco-friendly packaging solutions. Fiber based packagings are utilizes biodegradable material obtained from natural sources that are sustainable in the long run. Additionally, emerging economies are strictly monitor plastic packaging solutions and encouraging the use of bio-degradable packaging solutions.
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