The global packaging industry has made remarkable progress in recent years, with numerous innovations and technological advances prioritized. Particular emphasis is placed on ensuring sustainability and the spread of the circular economy. Reliable benefits have been obtained in reducing the generation of municipal solid waste.
Future Market Insights is a recently published research report that incorporates historical analysis from 2015 to 2019 and future assessments from 2020 to 2030 to thoroughly and bias the global paper core market. Provides no analysis.
The global paper core market is highly fragmented, with Tier-3 players accounting for 75% of the global market share. Profiled players include Advanced Paper Tube, Inc., YAZOO MILLS Inc., Smurfit Kappa Group, Sonoco Products Company, and CPPC Public Co. Ltd. And so on.
“Manufacturers are increasingly expanding into emerging economies, as consumers’ purchasing power has increased, e-commerce prospects have increased, and the need for robust packaging solutions has increased,” said FMI analysts. I am.COVID-19 Impact Analysis
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As the world approaches the end of 2020, industry leaders are optimistic about post-pandemic recovery scenarios. With Pfizer, the pharmaceutical giant, launching vaccination procedures across the UK, analysts expect the vaccine to be available on a large scale in the coming months.
Important point Recycle paperboard to create profitable opportunities to reach US $ 1.4 billion by the end of 2020 High uptake is expected across the paper and polyester segments, reaching approximately 21,100 million units sold by 2025 Paper cores with a diameter of 230 mm or more will remain linchpins until 2030 High demand for hygiene products due to the pandemic crisis has led to a surge in hygiene and tissue paper applications in the short term The global paper core market could grow at a CAGR value of 4.9% by 2030
With up to 4 million doses expected by the end of December 2020, healthcare professionals expect strong antibody protection that people can reach without risk of infection. All these developments are welcome news for the global packaging industry.
Already, the packaging industry is witnessing a resurgence, with consumers relying on virtual platforms to buy essential products, especially health care and hygiene products. Sustainable demand for ready-to-eat foods and beverages may also stimulate the need for core paper packaging solutions and enable the market to embark on a consistent growth trajectory.
Paper Core Market – Key Highlights
- North America will generate more than two-fifths of the overall market revenue, simultaneously, East Asia will generate prolific growth prospects.
- Recycled paperboard is gaining huge popularity over the forecast period.
- Paper & polyester end-use sector is foreseeing a notable adoption of paper cores throughout the assessment period.
- Winding and rewinding application will generate high growth prospects, gaining around two-fifths of the overall market revenue share.
Paper Core Market – Drivers
- Fiber based packaging enhances the functionality and widens prospects for paper cores
- Steady demand for instant foods & beverages will encourage demand for paper core packaging solutions, thus boosting market growth,
- Growing options for manufacturers for customizing paper core as per their needs is stimulating market growth.
Paper Core Market – Restraints
- Growing concerns for massive deforestation amid government agencies and environmentalists can create bottle necks for the manufacturers.
- Accessibility of lighter & smaller packages and use of other substitutes such as plastic cores can negatively influence the market.
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COVID-19 Impact on the Market
The demand for paper cores was influenced considerably, as supply chains disruptions rendered production majorly impossible. However, as the months progressed, production stages have been regressing to normal. Increasing e-commerce transactions for several producer and consumer goods have majorly helped sustain need for paper core packaging solutions. Additionally, flattening of virus curves have made it possible to restart on-site operations, even though with strict social distancing protocols.
Competitive Landscape
Key players identified in the global paper cores market are Sonoco Products Company, Advanced Paper Tube, Inc., CPPC Public Co., Ltd., Eerste Nederlandse Rondkartonnagefabriek B.V. (ENR), YAZOO MILLS Inc., Eco Canister, Kunert Group, Smurfit Kappa Group, Hansen Packaging, Callenor Co Inc., ALBERT EGER GmbH & Co. KG, ImPakt packaging, Ace Paper Tube Corporation, Western Container Corporation, Valk Industries, Inc., Romiley Board Mill., and Chicago Mailing Tube Co.
As a result of extremely competitive scenario, market players are depending on numerous growth strategies to consolidate their impressions. A few of the key strategies incorporate strategic collaborations with research institutions, capacity expansion, and technological progressions to further innovative product launches.
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