Source: Benzinga Feeds
DUBLIN , Jan. 15, 2020 /PRNewswire/ — The “Corrugated Board Packaging Market – Size, Growth, Trends, and Forecast (2020 – 2025)” report has been added to ResearchAndMarkets.com’s offering. The corrugated board packaging market was valued at USD 262.61 billion in 2019, and it is expected to reach USD 339.95 billion by 2025, recording a CAGR of 4.41%, during the forecast period of 2020-2025. According to a report by Asia Pulp and Paper’s (APP) 2017 Paper & Packaging Consumer Trends, compared to five years ago, the sustainability of paper-based packaging today is much more important to almost half of the consumers (50%). Rising consumer consciousness and rising concerns by regulatory bodies regarding sustainable packaging and the cost benefits associated are encouraging the use of environment-friendly packaging products, and is driving the growth of the corrugated board packaging market. For instance, Singapore’s National Environment Agency (NEA) in July 2016 announced that it would introduce mandatory requirements for companies to adopt sustainable materials in packaging to reduce packaging waste in the next 3-5 years.