Packaging made from boards and papers are called paper packaging. Different substances, like cartridge papers, cardboards, kraft papers and recycled papers are used in the production of paper packaging. Corrugated boxes, tetra packs, folding boxes and cartons are some of the products used in pharmaceuticals, food and beverages and aesthetics.
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The worldwide paper packaging materials market is segmented into applications, products and geographical regions. The applications sector consists of fast food, beverages, diary and bakery, fresh food, freezing food and others. The products sector of the paper packaging materials market is divided into corrugated cases, liquid packaging cartons, carton and folding boxes and others.
The four geographical regions based on which this market is fragmented comprises Asia Pacific, Europe, North America and rest of the world. The paper packaging materials market was projected to have garnered revenue worth about USD 255 billion in 2012. It is predicted to rise at about 4 percent CAGR through the forecast phase and witness around USD 344 billion by the end of the said phase.
The forecast phase last till 2019 and begins in 2013. Growing demand for paper based elastic packaging is estimated to be one of the main components, driving the paper packaging materials market. Moreover, escalating growth in GDP in the developing BRIC market has been propelling the business operations and disposable earnings of clients in these nations.
This is consequently, propelling demand for corrugated boxes and cartons. Accentuated demand for these boxes and cartons is projected to propel the paper packaging materials market. The positive traits of paper packaging materials are predicted to increase the market.
Information Source: Grand View Research