DUBAI, U.A.E, June 7, 2021 /PRNewswire/ — Increasing demand for sustainable packaging solution within food & beverage industry is bolstering the demand of composite paper cans, opines ESOMAR-certified consulting firm Future Market Insights. The global composite paper cans market is forecast to exhibit growth at over 4.8% CAGR during 2021-2031.
Increasing investment by leading manufacturers in research & development activities to curb the plastic usage is fueling the growth of composite paper cans market. Also, preference for bio-degradable materials among end-users have furthered the adoption of composite paper cans.
Rising application of composite paper cans in diverse end-use applications such as retail packaging, beverage packaging, and in aerospace products is improving the demand. Benefits such as durability, longer shelf life and recyclable paper fibers are fostering the sales.
Implementation of stringent regulatory policies across various countries on the use of plastic is acting as a major driver of the demand. This trend is visible in countries such as India, the U.S., Germany, and China. Stringent regulations aimed at curbing plastic use in these countries will encourage composite paper cans sales.
Also, expansion of food & beverage industry through online platforms has enabled the production of composite paper cans across the U.S., India, and the U.K. Surging demand for takeaway food, frozen items, and on-the-go beverages have bolstered the demand of composite paper cans.
“Growing concerns regarding environmental damage have pushed consumers towards adoption of eco-friendly packaging solutions. Hence, manufacturers have increased the production of composite paper cans to keep pace with evolving consumer preferences,” says the FMI analyst.
For more Insights into the Market, Request a Sample of this Report https://www.futuremarketinsights.com/reports/sample/rep-gb-13238
Key Takeaways from FMI’s Composite paper cans Market Study
- Over 54% of composite paper cans sales concentrates in food & beverage industry
- In terms of closure type, caps are anticipated to be the leading segment, exhibiting a CAGR of over 4.7% through 2031
- Lids segment is anticipated to emerge as a lucrative segment after caps, on the back of surging demand within food & beverage industry
- Spiral winding is the most preferred production type and is estimated to register over 46% of composite paper cans sales
- Composite paper cans with a diameter of 50 mm to 100 mm is mostly preferred among the end-users
- Germany will spearhead the Europe’s composite paper cans market, accounting for a share of 15% by 2031-end
- China’s composite paper cans market to exhibit stellar growth on the back of rising sales in the food & beverage industry
- The U.S. will lead the composite paper cans market, registering over 60% sales in North America
- Sustainability concerns in India have compelled the manufacturers to increase composite paper cans production, widening growth opportunities for market players
Increasing focus on providing sustainable solutions to meet the consumer demand have increased the production of composite paper cans, facilitating the manufacturers with remunerative growth opportunities over the coming years.
In March 2019, A&R Carton, a key market player, announced the launch of small sized sustainable boardio composite cans to meet the requirements of the customers and curb the use of plastic.
Some of the key players operating in composite paper cans market profiled by Future Market Insights include:
- Smurfit Kappa Group Plc
- Mondi Group Plc
- Amcor Plc
- Sonoco Products Company
- Ace Paper Tube Corp
- Irwin Packaging Pty Ltd
- Paper Tubes And Sales(PTS) Manufacturing
- Canfab Packaging Inc.
- Bharath Paper Conversions
- Nagel Paper
Get Customization on this Report for Specific Country https://www.futuremarketinsights.com/customization-available/rep-gb-13238
More Insights on the Global Composite Paper Cans Market
In its latest report, FMI provides a detailed segmentation on the global composite paper cans market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of:
- Aluminum Membrane
- Plastic Membrane
- Spiral Winding
- Convolute Winding
- Linear Draw
- Less than 50 mm
- 50 mm to 100 mm
- Above 100 mm
- Food and beverages
- Alcoholic Beverages
- Personal & Cosmetics
- North America
- Latin America
- South Asia
- East Asia
- Middle East and Africa (MEA)
For any Queries Linked with the Report, Ask an [email protected] https://www.futuremarketinsights.com/ask-question/rep-gb-13238
Key Questions Covered in the Report
- How will the market for composite paper cans expand through 2031?
- Which top manufacturing companies are leading the global composite paper cans market?
- What are the key drivers and trends that will stimulate the composite paper cans sales?
- What are the challenges that will affect the sales of composite paper cans market?
- Which region will remain the most lucrative throughout the forecast period?
- What is the impact of Covid-19 on composite paper cans market?
Explore FMI’s Extensive Coverage on the Packaging Domain
Metal Aerosol Packaging Market: Future Market Insights (FMI) provides a deeper insights on the new trends of global metal aerosol packaging market while incorporating the impact of ongoing trends, and growth & restraining factors during the forecast period of 2021 to 2031. Market dynamics have been presented on the basis of prominent drivers, trends and opportunities prevailing across key geographies for the aforementioned decade.
Aerosol Sprayers Market: ESOMAR-certified market analysis and consulting company Future Market Insights (FMI) provides incisive coverage on the global aerosol sprayers market over the forecast period of 2021 and 2031. Additionally, to find the effect of COVID-19 on the aerosol sprayers market in general, the study monitor global aerosol sprayers’ sales in 20+ high-growth markets and addresses their end-user in particular.
Aerosol dispensing systems Market: ESOMAR-certified market research and consulting firm Future Market Insights (FMI) offers in-depth insights on key factors of global aerosol dispensing systems market. The study offers detailed study on key trends that influence the demand for aerosol dispensing systems. The report covers global demand in more than 20 high potential markets, in addition to an in-depth analysis of the impact of COVID-19 on the global shell and heat exchangers market.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Future Market Insights,
1602-6 Jumeirah Bay X2 Tower,
Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
For Sales Enquiries: [email protected]
For Media Enquiries: [email protected]
Press Release Source: https://www.futuremarketinsights.com/press-release/composite-paper-cans-market
SOURCE Future Market Insights