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Europe Corrugated Board and Packaging Market Poised for Growth and Sustainability
Europe's corrugated board and packaging market shows promising growth prospects driven by sustainability demands, e-commerce expansion, and technological advancements.
By: Makreo Research and Consulting
Growing Demand and Trade Surplus in the Food Processing Industry
The European Union (EU) boasts one of the largest manufacturing industries in food processing globally, with an impressive trade surplus. Over the past decade, EU food and beverage exports have doubled, surpassing EUR 90 billion (USD 101.71 billion). The popularity of e-commerce has further fueled the demand for packaging, contributing to the tremendous growth of containerboard in the region.
Germany's Market Dominance and Manufacturing Strength
Germany, with its robust manufacturing infrastructure, serves as a hub for several prominent corrugated packaging companies. These German manufacturers have established a strong presence in international markets, exporting their products to countries within Europe and beyond. The country's export-oriented economy is expected to drive immense growth in the corrugated packaging industry.
Recent Developments and Sustainable Initiatives
The industry has witnessed notable developments, including collaborations between global chemical leader SABIC and Ella's Kitchen, a baby food brand, to develop a new cap made of recycled plastic. Italian paper packaging firms are also joining forces with end-user segment companies to offer sustainable packaging solutions on a larger scale.
Key Findings and Government Initiatives
The study reveals a rising demand for processed food in Europe, with imports of processed fruits and vegetables steadily increasing. Government initiatives, such as the proposed amendments to the Packaging and Packaging Waste Directive, aim to make sustainable packaging the norm by 2030 and implement measures to reduce single-use products.
Mergers and Acquisitions Reshape the Market
Mergers and acquisitions are reshaping the industry, as demonstrated by the merger between De Jong Packaging Group and Wellpappenfabrik Grünstadt-Sausenheim, as well as Stora Enso Packaging Solutions' entry into the market through the acquisition of De Jong Packaging Group.
Impact of Global Shipping Crisis
The global shipping crisis has caused disruptions in trade movements, leading to delays, shortages, and increased costs. The packaging industry, including corrugated board and packaging, has not been immune to these challenges, facing rising handling and logistics costs.
Study Scope and Comprehensive Analysis
Makreo Research's study offers a comprehensive analysis of the Europe Corrugated Board and Packaging Market, covering trade performance, leading suppliers and manufacturers, recent trends and developments, challenges, and the impact of the region's economy on the market.
Find out more:-
Europe Corrugated Board and Packaging Market Analysis and Forecast (2018-2028) (https://www.makreo.com/