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Rigid paper containers are among paper-based packaging solutions, which include boxes, tubes, trays, liquid cartons, and clamshells. Rigid paper containers can be manufactured using either paperboard or containerboard. Rigid paper containers are made up of containerboard, which consists of two grades of boards such as liner board and corrugating medium. Furthermore, rigid paper containers made up of linerboard are used for creating faces of corrugated box, while corrugating medium makes up rippled middle layer known as flutes.
The COVID-19 has extremely affected the economy in the world in a negative wat, hence the rigid paper containers market also got affected abruptly and experienced a slowdown in the generation of revenue. There were strict regulations by governments of various countries, which caused reduction in demand for rigid paper containers in the current scenario. Furthermore, industries are focusing on innovations during the lockdown situation, such that it could help gain attention of majority of the players during the forecast period.
The key factors affecting the industry include the advantages posed by the rigid paper containers, such as, it offers easy printability, which would fulfill the need of the hour. These are considered ideal for printing product information as well as branding & marketing information, and hence are useful for the growth of the industry. Additionally, elevating ecological concerns among the end-user will catapult the market growth in the next few years. The growth in the demand for corrugated packaging in the rigid paper containers market is at its peak, due to the thriving e-commerce industry.
The global rigid paper container market trends are as follows:
Major companies are focusing on the up gradation according to the need in the market in the coming years. Furthermore, the growth in the demand for the rigid paper container for most of the consumer products and is anticipated to help the industry propel in the forecast period. The major companies are focusing over launching newer products and keeping in mind about the eco-friendly nature of the product and hence are expected to boost the market to gain revenue at a higher pace.
For instance, Sonoco Consumer Products Europe had announced that it will unveil its SquareCan, a rigid paper container in a nearly square format. The company had displayed its current portfolio of rigid paper containers and plastic packaging solutions. The rigid paper container with a nearly square layout can be decorated all around, including the top and bottom. This strengthens brand management and simultaneously attracts a great deal of consumer attention.
The boom in the demand for the rigid paper container to be utilized for the untapped business, and are the main arena focused by the key players. There has been a growth in the number of mergers and acquisitions, which would help the industries gain maximum attention by the population, and hence propel the revenue generation in the forecast period.
For instance, in October 2019, Berlin Packaging and Novio Packaging announced that they have entered into a definitive agreement for Berlin Packaging to acquire Netherlands based Novio Packaging Group B.V. This strategic transaction significantly strengthens Berlin Packaging's European plastic offering, enhances its expertise in personal care, pharmaceutical, food, and sports nutrition verticals, and expands its northern European footprint.
Berlin Packaging's European companies are comprised of specialty glass market leader Bruni Glass, closure experts Bruni Erben, and four other companies acquired in 2019. The addition of Novio Packaging to Berlin Packaging's existing European companies creates a unique packaging supplier for glass, plastic, and metal containers and closures with a full suite of income-boosting services designed to grow customers' net income.
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Key Market Segments
Key Market Players