Paperboard Packaging to Reach $240 Billion by 2024
The paperboard packaging market size is expected to surpass U.S. $240 billion by 2024; according to a new research report by Global Market Insights Inc. (gminsights.com). Corporate lifestyle of people and odd working hours result in home delivering and on-the-go eating habits, which are boosting the packaged food industry. Rising number of working women in these countries is also one of the factors driving the packaged food industry in these regions.
China is one of the leading packaged food manufacturer with huge bakery, processed food, sauces, dressings and baby food production. In 2016, China packaged food market was valued over U.S. $275 billion and is poised to grow at a significant rate in the forecast period. Increasing consumption of such packaged food & beverages by consumers in the emerging countries will positively influence the paperboard packaging industry in coming years.