Service Packaging Market Scenario
The purpose of the service packaging is to ensure the convenience of the end use customers by offering them a convenient, durable and service packaging. Market Research Future (MRFR) has published a research report about the global service packaging market that predicts growth for this market with 5.2% CAGR (Compound Annual Growth Rate) between 2017 and 2023.
The factors driving the growth of global service packaging market include convenience & durability about eco-friendly packaging, ease of online shopping, increasing awareness about eco-friendly packaging, increase in the disposable income & purchasing power of people, rapid growth in the e-commerce sector, growth in food & beverage industries, rapid urbanization, rising number of number of retail outlets, and worldwide growth of pharmaceutical industry. However, the fluctuating prices of packaging raw materials can make the market growth hit breaks.
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Key Players
Key players in the global Service Packaging Market include
- Amcor Ltd. (Australia)
- AptarGroup Inc. (USA)
- Bemis Company Inc. (USA)
- Cascades Inc. (Canada)
- Crown Holdings Inc. (USA)
- DS Smith PLC (UK)
- Georgia-Pacific Corporation ITC Ltd. (USA)
- Graphic Packaging International Inc. (USA)
- International Paper (USA)
- Mondi Group (Austria)
- Nippon Paper Industries Co. Ltd. (Japan)
- Smurfit Kappa Group (Republic of Ireland)
- Sonoco Products Company (USA).
Latest Industry News
LBP Manufacturing LLC (LBP) has acquired Dominion Packaging’s Quick-Service Restaurant business (Dominion QSR), a leading producer of folding cartons to national QSR brands. 13 NOV 2018
System in package (SiP) is set to complete heterogeneous integration of diverse chip solutions that are needed in the 5G and AIoT {a combination of Artificial Intelligence (AI) and Internet of Things (IoT)} era. 21 NOV 2018
Regional Analysis
On the basis of the regions, the global Service Packaging Market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). Asia Pacific region accounted for the highest market share in 2016, in terms of value. The remarkable growth in the Asia Pacific packaging industry is the crucial factor fueling the growth of the global market. Increase in purchasing power of the consumer in countries such as China, India, and Indonesia, have boosted the demand for good-quality processed & packaged food. Growing number of hypermarket in the region is also expected to fuel the demand for service packaging products. China, India, Japan, and Thailand are the highest contributor to Asia Pacific market. China accounts for the largest market share in the region mainly due to strong economic growth, rapid urbanization and increse in shopping activities.
North America is another major region in the global service packaging market. Increasing demand for consumer goods products as well as packaged foods is likely to spur market growth. High growth in the pharmaceutical industry of the North American region is boosting the market growth further. Moreover, North America is a hub of major retail e-commerce companies such as Amazon (U.S.), and eBay (U.S.), which has a positive influence on the growth of the market. The U.S. is the major contributor to North American market.
Segmentation: Global Service Packaging Market
The market is segmented based on material, product, and application. On the basis of the product, the market is segmented into boxes, bags, pouches, and others. The pouches is the major product segment of the market. It is available in several types of stand-up pouches, pillow pouches, and retort pouches. The stand-up pouches are showing higher growth rate due to great barrier properties against moisture and oxygen along with low material usage and cost-effectiveness.
On the basis of the materials, the market is segmented into paper & paperboard, plastic, and others. Plastic dominates the material segment of the global market. It is extensively used materials for packaging across numerous end-use industries. Plastic in the form of PVC, PE, PP, PET, and others are used broadly in the packaging segment. This material provides a high barrier, cost-effectiveness, temperature resistance, and durable packaging options. The paper-based packaging is a versatile, environment-friendly and cost-effective method to transport, protect and preserve an extensive array of items.
On the basis of the application, the market is segmented into food & beverages, consumer goods, pharmaceutical, and others. The food and beverages segment dominates the market. High demand for processed and packed food across the globe driving the growth of the market. Service packaging is mainly used by the food industry for the packing of fruits, vegetables, poultry, meat, fish in addition to prepared meals, and storage products. Moreover, growing population along with increasing disposable income among the consumers also has the positive influence on the growth of the market.
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Table Of Content
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Definition
2.2.2 Research Objective
2.2.3 Assumptions
2.2.4 Limitations
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Bargaining Power Of Suppliers
3.1.4 Threat Of Substitutes
3.1.5 Segment Rivalry
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.1 Introduction
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
Continues…….
Table Of Content
Table 1 Global Service Packaging Market: By Region, 2017-2023
Table 2 North America Service Packaging Market: By Country, 2017-2023
Table 3 Europe Service Packaging Market: By Country, 2017-2023
Table 4 Asia-Pacific Service Packaging Market: By Country, 2017-2023
Table 5 RoW Service Packaging Market: By Country, 2017-2023
Table 6 Global Service Packaging Market By Material , By Regions, 2017-2023
Table 7 North America Service Packaging Market By Material , By Country, 2017-2023
Continues…….
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