Packaging has many functions such as protecting products, increasing added value and promoting sales. It is an indispensable part of modern economic activities. Packaging has become one of the important industries of the national economy, forming an industrial system including paper packaging, plastic packaging, metal container packaging, glass container packaging, wood packaging and other packaging industries.
Paper packaging is the largest sub-industry in the packaging industry. Paper packaging has many advantages such as convenient logistics handling, easy storage and recycling. With the continuous improvement of production process and technical level, the application range of paper packaging is more and more wide. Plastic packaging is widely used because of its good chemical properties and physical processing adaptability. It is the second largest sub-sector of the packaging industry.
In the public context of the COVID-19 crisis, the industry is being affected by COVID-19. It is impossible to accurately predict the extent to which countries have contained the outbreak, let alone whether economic activity will function normally in the long run.
But historical data show that the macroeconomic impact of natural disasters is usually short-term, and the economy tends to show a V-shaped trend. Affected by disasters and market sentiment, economic growth usually falls sharply in a short period of time, but with the gradual control of disasters, market sentiment returns to stability, temporarily suppressed consumption and investment demand will be released, resulting in an economic rebound. The outbreak of the epidemic will have a significant impact on enterprises and individuals in a certain period of time, especially on small and medium-sized enterprises and low-income families. It is necessary for the government to take targeted financial and monetary measures to help all sectors.
From 2023 to 2028, Europe is expected to witness strong growth prospects.
MeadWestvaco Corporation is one of the major players in the paper-plastic packaging market with a 3.51% market share in 2023.
MeadWestvaco Corporation
Westvaco Corporation, through its parent company, designs, manufactures and implements leading packaging solutions. The company has sales, manufacturing and processing facilities worldwide.
Amcor Limited
Amcor Proprietary Limited operates as a packaging company. The company offers a broad range of flexible and rigid packaging, specialty cartons, caps and services to the food, beverage, pharmaceutical and medical industries. Amcor serves customers worldwide.
As for product types, the paper packaging segment held the largest market share in 2022.
Paper packaging
Paper packaging refers to packaging products with base paper as the main raw material. Paper packaging has the advantages of easy processing, low cost, suitable for printing, light weight, folding, non-toxic, tasteless, pollution-free, but poor water resistance and poor strength when wet.
Plastic packaging
Plastic packaging refers to packaging products made of plastic. The main advantages of plastic packaging are: light weight, good electrical insulation performance; Watertight, airtight and chemically stable; Good plasticity, under certain temperature and pressure conditions, so that the shape of the packaging can meet the design requirements.
In terms of application, the food and beverage segment accounted for the largest market share from 2018 to 2022.
