The value of the global paper and paperboard packaging market is expected to reach $413 billion (€378 billion) by 2026, according to a study by Polaris Market Research.
According to the research, investment in environmental protection programmes, the rise of biodegradable packaging solutions and improved logistics and transportation channels are all factors that will contribute to packaging sector growth in the coming years.
In addition, the growth in e-commerce, driven by increased broadband penetration and the use of smartphones, it also likely to have a positive effect on the sector.
According to Polaris Market Research, the food and beverage sector accounted for the highest share of the paper and paperboard packaging market in 2018, while Asia Pacific was the biggest region in terms of market revenue.
In Asia-Pacific, a growing population, rising disposable incomes, and a transition from traditional markets to modern retail, especially in the food segment, has accelerated paper and paperboard packaging market growth, a trend that is likely to continue in the coming years, according to the report.
© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine