Cluster Packaging Market: Snapshot
Packaging industry has seen a significant evolution in the
last few years. This growth was primarily down the rapid developments in the
FMCG sector. Over the years, health supplements, electronic components, and
food products sectors have experienced considerable improvements in demand and
are now easily accessible because of effective packaging solutions. Cluster
packaging allows to transport a bulk of products at a time and has proven to be
very effective for the customers. Increased adoption of advanced packaging
techniques across the globe is expected to fuel the global market for cluster
packaging.
The global cluster
packaging market has seen a great boost in the recent times
because people are ordering more products in bulk and with packaging value
being high vendors offer better quality performance. Moreover, cluster
packaging is more economical compared to smaller packaging solutions in terms
of service capacity. Additionally, reusability properties of the cluster pack
is also lending a helping hand in the growth of the global cluster packaging
market. For instance, a Finnish food packaging company has developed a new
standard for plastics-free paperboard that will be used for food packaging. The
company has developed a disposable coffee cup that is without the standard
coating of polyethylene – making it 100% reusable. The disposable cup has
passed all the required tests and is waiting for the certification.
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Prevailing environmental issues has forces the key players
in the global packaging market to evolve and set their business strategies
accordingly. Different regulatory bodies such as FDA of the U.S. and Food
Safety Authority of Europe have imposed numerous regulations for using
eco-friendly and safe products, especially in the food industry.
Packaging market has been significantly grown in past few
years because of the speedy development of FMCG sector. Moreover, food
products, health supplements, and electronic components are some of the
industries that have seen improvements regarding demand over the last few years
and are more easily available due to an efficient packaging solution. Cluster
packaging is useful to carry bulk products at a time and very handy for
consumers. Demand for cluster packs is expected to be driven by increasing
adoption of packaging technology across developing geographies of the globe.
Cluster Packaging Market- Market Segmentation:
The global cluster packaging market can be segmented on the
basis of material type, product type, packaging style, number of tier type,
end-use and by region. On the basis of material type cluster packaging can be
segmented into paper & paperboard, plastic, and others. Further paper &
paperboard can be categorized into corrugated paper, Kraft paper, poly coated
paper, folding box board and others. On the basis of product type cluster
packaging can be segmented into bottles & jars, cans, containers, boxes,
cups, and others. On the basis of packaging style cluster packaging can be
segmented into neck-through style, over the top style, handle based style,
cluster sleeve style, cluster side style and others. On the basis of number of
tiers, cluster packaging can be segmented into single tier cluster packaging
and multiple tier cluster packaging. On the basis of end use cluster packaging
can be segmented into food, beverages, pharmaceuticals & healthcare,
personal care and cosmetics industry, industrial goods and others. On the basis
of region, cluster packaging market can be segmented into North America, Latin
America, Europe, Asia-Pacific and the Middle East & Africa.
Cluster Packaging Market - Market Dynamics:
Growth in demand for cluster packaging is expected to grow
steadily for several reasons. One of them is increasing demand for flexible
packaging which is driving the growth of the cluster packaging market. Another
important factor contributing towards the growth of cluster packaging market
are, expanded use of bulk products, higher value packaging that offer boosted
performance and are more cost effective than smaller packaging with shorter
term service capability. In addition the reusability feature of the pack is
also contributing in the growth of cluster packaging market. Growing awareness
of environmental issues is also a growth strategy that key players of cluster
packaging market are adopting. Many regulatory bodies such as the European Food
Safety Authority and U.S. FDA have implemented various regulations for the use
of safe and eco-friendly products, mostly in the food industry. Also, the high
initial cost of cluster packaging material is considered as another restraining
factor towards the growth of cluster packaging market.
Cluster Packaging Market- Regional Outlook:
Geographically, the cluster packaging market can be
segmented into North America, Latin America, Europe, Asia-Pacific (APAC) and
the Middle East & Africa (MEA). The growth of global Cluster packaging
market is expected to witness a healthy CAGR over the forecast period of
2016-2024. Moreover, Asia-Pacific is expected to witness a high growth of
cluster packaging market due to the rising consumption of food and beverage
products. The demand of the cluster packaging market is expected to witness an
above average growth in North America due to the higher adoption of cluster
packaging in beer and wine industries.
Cluster Packaging Market- Major Players:
Some of the key players of the global cluster packaging
market are Westrock, Wipak, Mondi Group, PET Power, Smurfit Kappa Group PLC,
Gerresheimer AG, and Klöckner Pentaplast GmbH & Co. KG., Graham Packaging,
Berry Plastic Group Inc., Alpha Packaging, Constar International, Dunmore,
Yantai City Fushan District Long Tai Plastic Co., Linyi City Qingwen Plastic
Products Factory, Laizhou Meiao Industry And Trade Co., Ltd., Yixing City
Xingfei Bulk Bag Co., Ltd., Shanghai Wellzone Packaging Co., Limited.
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