According to the latest 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 composite packaging market size is expected to reach USD 4.83 billion by the end of the forecast period 2020-2026.
 

As per the findings of the report, global composite packaging market growth is mainly driven by boom of end-use industries, such as plastics goods, food & beverages, and consumer good, especially in emerging regions like APAC and MEA.
 

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Further, increasing internet penetration, followed by robust growth of e-commerce sector has further benefitted consumer goods and food & beverages industries, subsequently increasing consumption of composite packaging solutions. Moreover, growing adoption of green composite packaging solutions which are substantiable and easily recyclable are positively impacting the overall composite packaging industry outlook. Development of such novel products by industry participants, along strategic undertakings will enhance the business dynamics in the upcoming years.
 

Considering the geographical scope, the key contributors to global composite packaging industry remuneration are North America (U.S., Canada), Latin America (Mexico, Colombia, Brazil), Middle East & Africa (Israel, South Africa, Qatar, UAE), Asia Pacific (India, Japan, South Korea), and Europe (United Kingdom, Italy, France, Spain, Netherlands).
 

Industry experts cite that Asia Pacific market is slated to expand profusely during 2020-2026, particularly driven by developing economies like India and China. Factors such as rising per capita income, favorable government policies for the manufacturing sector, and rapid urbanization are fostering the regional market growth.
 

Elaborating on the competitive arena of worldwide packaging industry, companies are focused towards developing a customized product portfolio to improve their standing in this space. Composite packaging companies offer solutions that are in line with the value chain requirements of their clients, along with additional services of color, printing, and packaging types to provide better value and gain customer loyalty.
 

Universal Packaging Ltd., Zipform Packaging (formerly SOTA packaging), Sonoco Products Co., Smurfit Kappa Group plc, Sealed Air Corp., Najmi Industries, Mondi plc, DS Smith plc, Crown Holdings, Inc., and Amcor plc are the top contenders in global composite packaging market sphere.