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In its recent report, Future Market Insights (FMI) projects that worldwide market revenue for machine glazed papers will grow at 4.5% CAGR over forecast period, 2022-2030. During the forecast period, revenue will grow about 1.6X, says the report.
Sustainability – especially regulatory and public concerns around single-use packaging waste – coupled with other influential trends to propel significant changes in consumer packaging. Prominent verticals such as food, beverages, healthcare, building & construction, electrical & electronics, automotive and others are significantly dependent upon machine glazed paper to churn out bags & pouches, pouches, wraps, trays, cups & bowls, coating & lamination and others.
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“With concerns about hygiene and food safety gaining priority, sustainability has taken back seat. That said, sustainability will remain key market-shaping trend, offering strong competitive advantages for resourceful packaging converters. Manufacturers must, thus, redefine sustainability alongside hygiene and consumer safety concerns,” says analyst at FMI.
Global machine glazed paper market is highly fragmented, with leading manufacturers accounting for nearly a fourth of overall revenue. Market players are banking on mergers & acquisitions in an effort to expand their regional footprint and thus, gain competitive edge. For instance,
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Food & beverage industry accounts for significant portion of global machine glazed paper market. With COVID-19 pandemic raging across continents, food & beverages companies are taking serious hit due to reduced consumption of food products as well as disrupted supply chains, thus, affecting the demand for machine glazed papers.
In addition, the public health crisis has resulted in partial operation of leading food restaurant chains worldwide. Normal restaurant functioning have shrieked across the globe, and many businesses have been compelled to pivot their offerings in order to sustain.
While at-home consumption has surged, out-of-home consumption – which conventionally generates highest margin – has nearly come to standstill. However, with better planning and decision of governments, several countries are gradually easing lockdown restrictions, paving way for food and beverage companies to get back on their foot by 2021 beginning. This, in turn, will refuel the demand for machine glazed papers.
Key Segments Covered in Machine Glazed Paper Industry Research
Machine Glazed Paper Market by Basis Weight
Machine Glazed Paper Market by Paper Type
Machine Glazed Paper Market by Grade
Machine Glazed Paper Market by Application
Machine Glazed Paper Market by End-user
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More About Machine Glazed Paper Market
Future Market Insights, in its new study, provides compelling insights about the machine glazed paper market that encloses industry analysis for 2015 – 2021 and opportunity assessment for 2022 – 2030. The report offers unbiased assessment on machine glazed paper market through six different categories – basis weight, paper type, grade, application, end use and region. The global machine glazed paper market research study delivers insights of pricing by different life cycle analysis, product life cycle, major market trends and technologies that are being utilized in the development of machine glazed papers and product adoption in various end users.
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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The post Machine Glazed Paper Market Is Slated To Reach Over US$ 18.9 Bn By The Year 2030 appeared first on Future Market Insights.
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