(Food-Beverage-News.Com, June 29, 2017 ) “Skin Packaging Market by Material (Plastic films, Paper & Paperboard, Others), Type (Carded, Non-carded), Heat Seal Coating (Solvent-based, Water-based, others), & Application (Food, Consumer goods, Industrial goods, others) - Global Forecast to 2020”, defines and segments the global skin packaging market with analyses and forecasting of the global market size for skin packaging. It also identifies the driving and restraining factors of the market with an analysis of trends, opportunities, burning issues, winning imperatives, and challenges.
The global skin packaging market is projected to reach USD 9.67 Billion in 2020, growing at a CAGR of 4.94% from 2015 and 2020. High disposable incomes and changing lifestyles have led to an increase in the consumption of packed goods, which in turn drive the demand for skin packaging. Moreover, with increasing awareness about environmental hazards, the market will adopt technologies to develop sustainable packaging, which is environment-friendly, cost-effective, and requires less resources. The Asia-Pacific region accounted for around 35% of the total market share in terms of value, followed by Europe and North America. The skin packaging market in developing countries such as China and India are projected to grow at a higher rate from 2015 to 2020. China is estimated to grow faster than any other country because of its strong economic growth, along with increase in food consumption and rapid urbanization.
The skin packaging market is mostly driven by the growing packaging and food industry, manufacturing activities, and the increase in spending by end consumers for packaged products. Rising concerns about the environment and stringent regulations towards packaging waste are encouraging manufacturers to increase their investment in R&D activities to develop sustainable packaging materials. This is likely to drive the demand for skin packaging because of its cost-effective features which require less resources for packaging and prevent food loss by extending the shelf life of the food product.
The global skin packaging market is projected to reach USD 9.67 Billion by 2020, at a CAGR of 4.94% from 2015 to 2020. The Asia-Pacific region accounted for around 35% of the total market share in terms of value, followed by Europe and North America.
Some of the key players in the market include Sealed Air Corporation (U.S.), E.I. du Pont de Nemours and Company (U.S.), Bemis Company, Inc. (U.S.), The Dow Chemical Company (U.S.), and WestRock Company (U.S.).
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