One of the key talking points behind sustainability is the fact that it is a win/win proposition for most companies, something very rare in today’s business world. In short, companies with strong sustainability programs are not only proving themselves good environmental stewards, they are also reaping financial reward, as well.
A new report from Transparency Market Research seems to bear this out. The report, entitled Paperboard Packaging Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020, predicts the global paperboard packaging market will grow from its 2013 value of $108.08 billion to $181.81 billion by 2020, expanding at a 7.8 percent compound annual growth rate between 2014 and 2020.
But it is the reason for the anticipated growth that is the real takeaway from the report, which speculates the significant growth in the global sustainable packaging industry will drive the growth.
Expansion in the global packaged food and cosmetics industries is perceived as another growth factor, and expansion in the e-commerce in BRICS countries (Brazil, Russia, India, China and South Africa) is also expected to provide tremendous growth opportunities in the paperboard market.
Containerboard is currently the largest product segment of the paperboard packaging market and is expected to be the fastest growing product type during the forecast period. Boxboard is expected to expand at a more moderate rate, with folding boxboard, however, estimated to grow at its fastest clip in the next several years.
The food & beverage segment holds the largest global share of the paperboard packaging market (with about 45 percent share in terms of volume) and is expected to remain the fastest growing segment in the coming years.
The geographic area representing the largest segment for paperboard packaging is the Asia Pacific region, which accounts for 45 percent share in terms of volume.