Service Packaging Industry | COVID-19 Analysis

The demand for packaged food has grown at an accelerated rate which is anticipated to boost the Service Packaging Industry. The vigorous development in the e-commerce sector is expected to influence the market for service packaging in the coming period. Also, the pharmaceutical industry is anticipated to promote the Service Packaging Industry across the world.

Regional Analysis   

The regional study of the Service Packaging Industry is segmented into North America, Asia Pacific, Europe among others. The Asia Pacific region had the highest market share in 2016 in terms of value. The outstanding growth in the Asia Pacific packaging industry is the central factor powering the development of the worldwide market. The upsurge in buying power of the consumer in nations such as Indonesia, China and India have increased the demand for good-quality processed and packaged food. The growing number of hypermarkets in the region is also anticipated to power the demand for service packaging products. Thailand, China, India, and Japan are the chief contributors to Asia Pacific market. China is responsible for the principal market portion in the region chiefly due to robust economic growth, swift urbanization, and surge in shopping activities.

Segmental Analysis

The segmental review of the Service Packaging Industry is segmented into product, material, region, and application. Based on the product, the Service Packaging Industry is segmented into bags, boxes, pouches, and others. Based on the materials, the Service Packaging Industry is segmented into plastic, paper & paperboard, and others. The Service Packaging Industry on application basis is segmented into consumer goods, food & beverages, pharmaceutical, and others. The food and beverages segment controls the Service Packaging Industry. By regions, the Service Packaging Industry is segmented into North America, Asia Pacific, Europe among others.

Competitive Analysis

The outstanding players in the Service Packaging Industry are Mondi Group, Bemis Company Inc., Georgia-Pacific Corporation, ITC Ltd., Crown Holdings, Inc., Cascades Inc., Sonoco Products Company, International Paper, Graphic Packaging