Albany, NY -- (SBWIRE) -- 05/21/2019 -- The global fiber based packaging is witnessing steadfast growth over the past few decades owing to the numerous applications of fiber based packaging across several end-use industries. The fiber based packaging market is primarily driven by the growth of the packaging industry and shift in consumer preference for eco-friendly packaging solutions.

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Further, easy availability of raw material for the manufacture of fiber based packaging products and government statutes in favor of naturally sourced packaging solutions is fuelling the growth of fiber based packaging market.

A report by Transparency Market Research (TMR) projects the global fiber based packaging market to expand at a CAGR of 3.8% in terms of revenue between 2017 and 2025. At the pace, the market's valuation of US$284 bn in 2016 will become US$383.5 bn by the end of 2025.

The report segments the global fiber based packaging market by packaging type into corrugated boxes, cartons, partition & inserts, bottles & cup carriers, trays, plates, clamshells, display packaging, and bags and sacks. Of these, corrugated boxes segment dominate the market with an estimated share of more than 45% in the overall market by value. This is because corrugated boxes are ideally suited for primary and secondary packaging needs and are mainly used in transit packaging across several industry sectors.

Cartons hold significant share in the market as they are widely preferred for primary packaging in food and beverages, cosmetics and personal care, pharmaceuticals, etc.

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On the basis of material, the global fiber based packaging market has been segmented into corrugated, boxboard/carton board, molded pulp, kraft paper. Of them, corrugated segment accounts for more than 50% market share by value.

By end-use industry, the fiber based packaging market has been segmented into food packaging, beverages packaging, tobacco packaging, healthcare packaging, personal care & cosmetics, homecare & toiletries, electrical & electronics, e-commerce packaging, chemical & fertilizer, and other industrial packaging. Amongst them, the segment of food packaging holds dominance with close to 40% share in the overall market by value.