Composite Packaging Market to Surpass USD 48 75.9 Billion by 2031, Fueled by Sustainability Drive

"According to SNS Insider, the Composite Packaging Market valued at USD 48 billion in 2023, is projected to reach USD 75.9 billion by 2031, with a compound annual growth rate (CAGR) of 5.9% during the forecast period from 2024 to 2031"

Composite Packaging Market Analysis & Report Scope:
Composite packaging meets diverse product protection needs, from delicate electronics to perishable foods, through its ingenious combination of materials. This packaging ensures superior strength and resistance to external threats like moisture, light, and mechanical stress. Moreover, heightened environmental awareness and regulations to reduce plastic usage are driving manufacturers toward composite materials, offering biodegradable options to minimize environmental impact while maintaining functionality.
The composite packaging market's dominance lies in its versatility, offering solutions across various end-use segments. Among materials, plastic holds the lion's share due to its exceptional barrier properties, durability, and flexibility, which reduce transportation costs and facilitate manufacturing. Within end-use segments, the food & beverage sector leads, benefiting from extended product shelf life and enhanced consumer convenience provided by composite packaging.

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Major Players Listed in this Report are:
- Amcor (Switzerland)
- DS Smith (U.K.)
- Mondi (U.K.)
- Smurfit Kappa (Ireland)
- Sonoco Products Company (U.S.)
- Crown Holdings (U.S.)
- Tetra Pak
- International (Switzerland)
- Coveris Holdings (U.K.)
- Constantia Flexibles (Austria)
- NPP (Ireland)
- GWP Packaging (U.K.)
- Zipform Packaging (Australia)
- Envirocore CC (South Africa)

Segment Analysis:
Plastic dominates the material segment, comprising over 45% of the market share in 2023. Its superior barrier properties and flexibility drive its dominance. In end-use segments, the food & beverage sector leads, capturing 33.4% of the market share in 2023, thanks to extended shelf life and consumer convenience features.

Composite Packaging Market Key Segments:
By Material
- Plastic
- Paper & Paperboard
- Metal
- Others

By End-use
- Food & Beverages
- Healthcare
- Consumer Goods
- Logistics & Transportation
- Others

Impact of Russia-Ukraine War:
The Russia-Ukraine conflict can disrupt the composite packaging market by affecting the supply of key materials like wood pulp, aluminum, and plastic resins. Transportation route disruptions and changes in consumer spending patterns may further impact demand for specific products and types of composite packaging.

Impact of Economic Slowdown:
An economic downturn leads to reduced consumer spending on non-essential goods, affecting demand for packaged products and composite packaging materials. Postponed investments in packaging solutions and consumer shifts towards lower-priced products contribute to market slowdown.

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Key Regional Development:
North America dominates the global composite packaging market due to growing eco-friendly packaging preferences and the presence of leading industry players. Europe follows suit, driven by high demand for packaged food and beverage products.

Key Takeaways for Composite Packaging Market Study:
1. Composite packaging market growth is fueled by sustainability demands and versatile material solutions.
2. Plastic and food & beverage sectors lead the market, driven by superior properties and consumer benefits.
3. North America and Europe dominate the market, propelled by eco-consciousness and demand for advanced packaging solutions.

Recent Developments:
- In November 2023, Sonoco acquired Amcor Packaging's composite can operations, consolidating its position in the Asia Pacific market.
- In July 2023, The Mitsubishi Chemical Group, Toppan Inc., and Kyoeisha Chemical collaborated to develop a revolutionary material recycling process for plastic composite packaging.
- In June 2022, Corona India introduced a 100% biodegradable composite packaging solution made from barley straw, aligning with its sustainability commitments.

Table of Contents - Key Points
1 Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2 Industry Flowchart
3 Research Methodology
4 Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5 Impact Analysis
5.1 Impact Of Russia Ukraine War
5.2 Impact of Economic Slowdown
6 Value Chain Analysis
7 Porter's 5 Forces Model
8 Pest Analysis
9 Average Selling Price
9.1 North America
9.2 Europe
9.3 Asia Pacific
9.4 Latin America
9.5 Middle East & Africa
10 Composite Packaging Market Segmentation, By Material
10.1 Introduction
10.2 Trend Analysis
10.3 Plastic
10.4 Paper & Paperboard
10.5 Metal
10.6 Others
11 Composite Packaging Market Segmentation, By End-Use
11.1 Introduction
11.2 Trend Analysis
11.3 Food & Beverages
11.4 Healthcare
11.5 Consumer Goods
11.6 Logistics & Transportation
11.7 Others
12 Regional Analysis
13 Company Profiles
14 Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments
14.3.1 Industry News
14.3.2 Company News
14.3.3 Mergers & Acquisitions
15 USE Cases And Best Practices
16 Conclusion

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Akash Anand - Head of Business Development & Strategy
info@snsinsider.com
Phone: +1-415-230-0044 (US)

SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.

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