According to the research report titled ‘Composite Packaging Market Share, Size, Trends, Industry Analysis Report By Type; By Application, By Regions - Segment Forecast, 2020 - 2026’, available with Market Study Report, global packaging market is projected to showcase an appreciable growth rate during 2020-2026, subsequently accounting USD 4.83 billion by the year 2026.
 

As per the report findings, expansion of end-use industries such as plastic goods, food & beverages, and consumer goods particularly in emerging economies across MEA and APAC will act as a major growth propellent for global packaging market in the coming years.  Further, increasing penetration of e-commerce, and new product development such as novel green composite packaging solutions that can be recycled are enhancing the industry outlook.
 

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Geographically, global composite packaging market size spans across North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. As per trusted sources, Asia Pacific market is expected to showcase a robust growth rate over the forecast timeline, majorly driven by demand from nations like India, China, Vietnam, Malaysia, Singapore, and Indonesia. Increasing per capita income, rapid urbanization, favorable government policies, and thriving manufacturing sector in these economies are fostering the expansion of composite packaging industry in Asia Pacific.
 

Speaking of the competitive scenario of global composite packaging market, provision of customized product portfolio is major trend. Composite packaging solution providers that meet the value chain requirements of the clientele, also offer additional services of color, printing, packaging types as a part of their efforts to gain market share.  Universal Packaging Ltd., Sota Packaging Pty. Ltd., Sonoco Products Co., Smurfit Kappa Group, Sealer Air Corp., Najimi Industries, Mondi plc, DS Smith plc, Crown Holdings, Inc., and Amcor plc are the major players in this business sphere.