New Delhi, September 03, 2016: Ken Research announced its latest publication on “US Paperboard Packaging Market Outlook to 2020 – Expanding E-tail industry and Usage of Recycled Paper to Fuel the Demand for Paper Products” which provides a comprehensive analysis of paperboard packaging market in the US. The report focuses on the US paperboard packaging market. The report covers market size in terms of value & volume and segmentation of overall paperboard packaging industry on the basis of organized and unorganized sector, by types of products, by grades, by virgin or recycled paperboard, by Applications, by types of papers used, by regions and by E-commerce and offline clients. The potential and future outlook for paperboard packaging has also been discussed in the publication. The report provides detailed analysis of major players, their strategies, and porters five forces model, Trends & Developments and major issues and challenges with the US paperboard packaging industry in the US. The report also serves as a benchmark for existing players and every new player who wish to capitalize the market potential and investors who are looking forward to venture into the paperboard packaging industry in the US.
The overall global packaging industry has been valued at USD 600 billion in 2015 of which the Paperboard Packaging products constituted 42%. The benefits and multiple usages in all the sectors had driven the market of paper board packaging globally. The expanding E-commerce industry, FMCG industry and retail industry had also fueled the demand of paperboard packaging in the world. Additionally, due to rising environmental concerns the government has been encouraging the use of paperboard packaging products which had created the huge potential for the paperboard manufacturers over the past few years.
The paper packaging industry caters the needs of many sectors in the economy such as Food & Beverages, Automobile, Fast-Moving Consumer Goods (FMCG), Pharmaceuticals, Durable goods, Tobacco and many more. Rising retail sector in US and robust growth in the e-commerce industry from past five years had driven the market of paperboard packaging industry in the country. In a country like the US where the purchasing power of the people is high as compared to other countries, goods are usually sold in luxurious packaging material which contributes significantly towards the rising demand for paper packaging products in the country.
Ban on usage of non-renewable resources for packaging in the country had increased the demand of renewable resources. Moreover, paper board packaging can be scored, folded, curved and custom die-cut in countless ways. In several states of the US, the plastic bags are banned during the period of 2012-2015. Recently the California state of the US had passed a law of prohibition of plastic bags usage in 2014 and it was implemented from July, 2015. Rise in concern for environmental issues in the country had forced many companies to use renewable raw materials for making packaging boxes. This had triggered the market of paperboard packaging in the country. Paperboard can be re-used again for making different materials.
According to the research report, the paper board packaging market will record revenue of USD 66 Billion by 2020 due to more players entering the market, expansion of e-commerce sector in the country, increasing demand of personal care & health care products, rising retail and consumer goods industry.
“Increasing demand of paperboard packaging in the country had increased its production in the country. The leading and the emerging countries should regularly upgrade their manufacturing plants to increase the manufacturing capacity of the plant. The companies should also establish their own recycled mills and should focus on manufacturing innovative products in the paperboard packaging industry in the country. Due to the increase in demand of raw materials required to make the paperboard packaging products, the companies should form strategic partnerships with the suppliers of the raw materials in the US” according to the Research Analyst, Ken Research.
Corporate Comm India(CCI Newswire)
