LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global containerboard market to grow at a CAGR of over 3% during the period 2018-2022, according to their latest report.
The rise of Industry 4.0 or the fourth industrial revolution has increased the need for sustainability across production and consumption processes. This has led to fundamental changes and innovations across the entire packaging industry. The advent of flexible packaging is a trend that is expected to have a tremendous impact on the global containerboard market during the forecast period.
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In this report, Technavio analysts highlight the booming e-commerce market as a key factor contributing to the growth of the global containerboard market:
Booming e-commerce market
The increasing demand for e-commerce across the world is one of the primary drivers for the global containerboard market. The demand for retail e-commerce packaging is expected to increase across developed economies in the Americas and Europe. This can be attributed to the growth in online shopping, owing to various reasons such as convenience and wide selection of goods. The e-commerce market in the US, which is home to e-commerce giants such as Amazon.com and eBay, is expected to grow at a CAGR of around 10% during 2017-2022.
“The largest demographic of online shoppers, the millennials, is expected to drive the e-commerce market. This is because of the inherent ease of viewing and comparing products via mobile devices. It will likely serve as an uptick in the overall market demand for containerboards across the world. E-commerce companies are one of the fastest-growing users of containerboards across the world. The food and beverage segment is expected to emerge as the most promising area for e-commerce packaging solutions during the forecast period,” says a senior analyst at Technavio for packaging research.
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Global containerboard market segmentation
This market research report segments the global containerboard market by product (recycled containerboard and virgin containerboard) and key regions (the Americas, APAC, and EMEA).
Of the two product segments, the recycled containerboard segment accounted for close to 76% of the market share, which is expected to increase further over the forecast period.
APAC was the leading region for the global containerboard market in 2017, accounting for a market share of over 48%, followed by the Americas and EMEA. The market share of APAC is expected to witness the maximum growth while that of the Americas is expected to decline by over 1% by 2022.
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