The global specialty paper market is expected to post a CAGR of over 3% during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the increasing environmental awareness. Plastic emerged as the easy solution for most of the packaging requirements, especially for packaging food and beverages. Plastic is economical and offers benefits such as robustness, lightweight, chemical resistance, and non-porosity. Owing to these factors, food and beverage manufacturers prefer using plastic over any other packaging material. However, plastic is virtually nondegradable and poses a serious threat to the environment. Thus, with increasing awareness of the environment and plastics unsustainability, plastic packaging is being replaced with specialty paper.
This market research report on the global specialty paper market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the advent of smart packaging as one of the key emerging trends in the global specialty paper market:
Global specialty paper market: Advent of smart packaging
Smart packaging is an emerging technology in the field of food packaging. It has more functions beyond the traditional inert and passive packaging. Smart packaging is useful in increasing the shelf life of products and reduces product wastage and damage, thus resulting in a cost-effective supply chain. The latter can be attributed to improved properties such as better moisture control. Smart packaging has advanced features such as antimicrobial and anti-oxidation enabled packaging, which enhances usability and safety of packaging solutions and products.
As smart packaging provides a better customer interface and extensive information about the products, it enhances consumer empowerment. This creates a perceived level of differentiation about the purchased brand. Smart packaging improves the quality control from the perspective of a brand. This incorporation of cutting-edge technologies is expected to drive the market during the forecast period, says a senior analyst at Technavio for research on specialty chemicals.
Global specialty paper market: Segmentation analysis
This market research report segments the global specialty paper market by application (P&L, P&W, industrial, and construction) and geographical regions (APAC, EMEA, and the Americas).
The P&L segment held the largest market share in 2017, accounting for nearly 43% of the market. This application segment is expected to dominate the global market throughout the forecast period.
APAC led the market in 2017 with a market share of nearly 39%. This region is expected to dominate the market through 2022.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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