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Classified in: Environment
Subjects: SVY, MRR

Paper Packaging Materials Market to Reach Value of US$ 553.1 Bn by 2031: TMR Study

WILMINGTON, Del., Dec. 1, 2022 /PRNewswire/ -- The global Paper Packaging Materials Market is projected to expand at a CAGR of 4.4% during the forecast period, according to Transparency Market Research.

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As per TMR analysis, the market outlook appears positive due to the rise in demand for beverages in developed and developing countries. Moreover, increase in consumption of fast food, frozen food, and fresh food across the globe is projected to boost the market.

Of late, awareness about environmental issues has increased among consumers. Hence, this population pool is inclined toward products with eco-friendly packaging. This is creating significant business avenues in the market for paper packaging materials.

The popularity of paper packaging materials has been increasing owing to their advantages such as versatility and sustainability. However, several issues are associated with such type of materials, including poor barrier properties and sluggish rate of anaerobic biodegradation in the environment without oxygen (including landfills). This is hampering the adoption of these materials. Therefore, market players are focusing on expanding their production capabilities in water-soluble board stock, which passes the ASTM D6868-11 testing technique and is considered compostable in 40 days. Companies are also investing in R&D activities to develop materials that pass the international OECD 301B testing technique in order to introduce products that can biodegrade completely and rapidly in the marine environment.

The paper packaging materials are used in the ecommerce industry. With improving spending power of people and increasing penetration of the Internet across developing and developed nations, the ecommerce industry is expanding at significant pace. This factor, in turn, is driving the sales prospects in the global market.

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Paper Packaging Materials Market: Key Players

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About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

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