Paper Packaging Market Projected Growth at CAGR 7.59% in Latest Study
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Although several related studies have been released so far in 2016, these latest estimates were published this week by the Market Research Store (MRS), Deerfield Beach, Fla., USA. The global paper and paperboard packaging market accounted for $117.5 billion in 2014, and in MRS calculations is expected to reach $210.4 billion by 2022 at a CAGR of 7.59% over this forecast period.
Key factors of the market include the recyclability of paper and also growing consumer awareness. Replacing plastic and market diffusion are the major factors for restraining the growth of the market. The challenges faced beside the market are adhering to environmental standards through production and solving the dilemma of cases of unproductive recycling of paper.
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Key players identified in this report:- ITC Limited
- DS Smith PLC
- International Paper
- Cascades Inc.
- Rocktenn Company.
- Metsa Group
- Clearwater Paper Corporation
- Packaging Corp. of America
- Amcor Limited.
