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Secondary Packaging Market size is set to grow by USD 86.2 billion from 2024-2028, Growing E-commerce industry to boost the market growth, Technavio

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NEW YORK, July 12, 2024 /PRNewswire/ — The global secondary packaging market  size is estimated to grow by USD 86.2 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  4.6%  during the forecast period.  Growing E-commerce industry is driving market growth, with a trend towards increasing mergers and acquisitions (M and A). However, rising cost of raw materials  poses a challenge. Key market players include Amcor Plc, Ball Corp., Berry Global Inc., Catalent Inc., Crown Holdings Inc., Daio Paper Corp., DS Smith Plc, Graphic Packaging Holding Co., Huhtamaki Oyj, International Paper Co., Mondi Plc, Packaging Corp. Of America, Rengo Co. Ltd., Salzgitter AG, Sealed Air Corp., Smurfit Kappa Group, Sonoco Products Co., Stora Enso Oyj, Tetra Laval SA, and WestRock Co..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Type (Paper and Plastic), Application (Food, Beverages, Pharmaceuticals, Personal and home care, and Others), and Geography (North America, Europe, APAC, South America, and Middle East and Africa)

Region Covered

North America, Europe, APAC, South America, and Middle East and Africa

Key companies profiled

Amcor Plc, Ball Corp., Berry Global Inc., Catalent Inc., Crown Holdings Inc., Daio Paper Corp., DS Smith Plc, Graphic Packaging Holding Co., Huhtamaki Oyj, International Paper Co., Mondi Plc, Packaging Corp. Of America, Rengo Co. Ltd., Salzgitter AG, Sealed Air Corp., Smurfit Kappa Group, Sonoco Products Co., Stora Enso Oyj, Tetra Laval SA, and WestRock Co.

Key Market Trends Fueling Growth

Vendors in the global secondary packaging market are expanding their businesses through strategic mergers and acquisitions (M&A) to boost their market presence. Notable recent acquisitions include Amcor’s purchase of MDK, a Shanghai-based medical device packaging provider, and Smurfit Kappa’s acquisition of Atlas Packaging, an independent corrugated packaging supplier. These deals will enable Amcor to strengthen its position in the APAC medical packaging market and Smurfit Kappa to enhance its capabilities in the UK market, offering innovative and sustainable packaging solutions to customers. These strategic moves are expected to drive growth in the secondary packaging market during the forecast period. 

The secondary packaging market is witnessing significant growth in various industries such as food and beverages, electronics, and pharmaceuticals. Trends include eco-friendly solutions using paper and paperboard, reducing damage during transportation through bulk packaging like Corrugated Boxes and Plastic Crates, and addressing external factors like moisture and infestation with Wraps and Films. The food & beverages industry focuses on brand marketing and product display using Cartons and Trays. In contrast, the electronics industry prioritizes protection for sensitive items like Lights and LEDs. The chemicals industry and electrical industry also benefit from secondary packaging to ensure safe transport. E-commerce websites drive demand for home delivery solutions. The Folding Cartons segment is a popular choice due to its versatility and cost-effectiveness. Environmental concerns are driving the use of recycled solutions. Primary packaging, such as Bottles, is often integrated with secondary packaging for added protection. 

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Market Challenges

•         The secondary packaging market is experiencing a significant increase in raw material costs, primarily due to the volatility of paper pulp and plastic prices. Paper pulp, a major raw material for corrugated boxes, has seen a surge in prices due to a widened demand-supply gap and rising wood costs, which account for over 70% of the total input cost in paper-based packaging solutions. Additionally, plastic-based packaging solutions have been affected by the invasion of Ukraine by Russia, leading to increased resin prices and manufacturing costs. Crude oil prices, derived from petroleum hydrocarbons, have also risen, impacting the cost of synthetic polymers such as PE, PP, nylon, PS, PTFE, and epoxy. These increasing raw material costs are expected to negatively impact the production of secondary packaging products, potentially hindering market growth during the forecast period.

•         The secondary packaging market encompasses various product categories, including folding cartons, corrugated boxes, plastic crates, wraps, and films. Key industries like beverage, healthcare, consumer electronics, and cosmetics drive demand. Brands prioritize product display and brand marketing through eye-catching designs. Recycled solutions and eco-friendly practices are essential due to increasing environmental concerns. Primary packaging, such as bottles, vials, and blisters, must comply with regulations regarding dosage instructions, expiration dates, and regulatory information. Challenges include counterfeiting and tampering, necessitating secure packaging solutions. Folding cartons and trays are popular due to their lightweight and versatility. Raw materials, such as biodegradable and recyclable options, are crucial for sustainability. E-commerce growth increases demand for film bundles and shrink films for product protection. Environment-friendly materials, like recycled paper and biodegradable plastics, are preferred. Deforestation and tourism impact paper sourcing, while processed food, carbonated beverages, and ready-to-eat foods require specific packaging solutions. Graphic packaging enhances product appeal, while regulatory compliance remains a priority.

For more insights on driver and challenges – Download a Sample Report

Segment Overview 

This secondary packaging market report extensively covers market segmentation by

Type 1.1 Paper1.2 PlasticApplication 2.1 Food2.2 Beverages2.3 Pharmaceuticals2.4 Personal and home care2.5 OthersGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Paper-  Paper-based secondary packaging is a popular choice for businesses and consumers due to its sustainability and eco-friendliness. This type of packaging involves the use of paper-based materials for product protection, transportation, and storage. The food and beverage industry is a significant user of paper-based secondary packaging, as it ensures proper handling and storage of food products while protecting them from environmental factors and contamination. Examples include pizza boxes, cereal boxes, and beverage cartons. The e-commerce sector is also adopting paper-based packaging to address waste and sustainability concerns, with major companies like Amazon and Walmart using corrugated cardboard boxes for shipping. The beauty and cosmetics industry is another sector embracing paper-based packaging due to its cost-effectiveness, sustainability, and attractive appeal. The growing trend towards eco-friendly solutions is driving the adoption of paper-based secondary packaging in these industries, contributing to the growth of the paper segment in the global secondary packaging market.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022)  – Download a Sample Report

Research Analysis

The secondary packaging market encompasses various types of packaging solutions designed to protect and transport primary packaged products. This market includes Folding Cartons, Corrugated Boxes, Plastic Crates, Wraps and Films, Trays, and Outer Packaging. Folding Cartons are popular for their versatility and cost-effectiveness, while Corrugated Boxes offer robust protection against damage. Plastic Crates and Trays are ideal for bulk packaging and heavy items. Wraps and Films provide an additional layer of protection, especially for sensitive products like Beverages, Healthcare, and Consumer Electronics. Shrink Films are commonly used for Primary Package Envelopment in industries like Food and Beverage and Electronics. External factors such as Damage, Appearance, Moisture, and Infestation can significantly impact the effectiveness of secondary packaging. Therefore, it is crucial to consider these factors when selecting the appropriate packaging solution. Paper and paperboard are common materials used in secondary packaging due to their sustainability and cost-effectiveness. However, they can be susceptible to Physical Damage and Moisture. To mitigate these risks, advanced coatings and treatments can be applied to enhance the durability and water resistance of these materials. Overall, the secondary packaging market plays a vital role in ensuring the safe and efficient transportation of primary packaged goods.

Market Research Overview

The secondary packaging market encompasses various types of packaging solutions designed to protect and promote primary packaged goods. Folding cartons, made of paper or paperboard, offer versatility and branding opportunities for various industries, including beverages, healthcare, consumer electronics, and cosmetics. Corrugated boxes provide strength and protection for heavy and bulky items, while plastic crates offer durability for industrial applications. Wraps and films, such as shrink films, ensure product security and product display. Eco-friendly practices are increasingly important in the secondary packaging market. Recycled solutions, lightweight, biodegradable, and recyclable materials are gaining popularity to reduce environmental impact. Raw materials, such as paper and paperboard, are under scrutiny for their sustainability, with deforestation and tourism being significant external factors. Folding carton demand is driven by brand marketing and product display needs, with regulatory information, expiration dates, and tamper-evident features crucial for industries like pharmaceuticals and food and beverages. Secondary packaging plays a critical role in protecting against counterfeiting, damage, and environmental concerns. E-commerce growth and home delivery have accelerated the demand for secondary packaging, with e-commerce websites requiring efficient and protective packaging solutions. The food and beverages industry, chemicals industry, electronic products, and pharmaceuticals industry are major consumers of secondary packaging, with external factors like damage, appearance, moisture, infestation, and physical damage influencing packaging choices. The folding cartons segment dominates the secondary packaging market, with environment-friendly materials, such as biodegradable and recycled paper, gaining traction. Other packaging types, such as trays, film bundles, and primary package envelopment, cater to specific industry needs. The market is influenced by various external factors, including the electronic industry, lights, and LEDs, and environmental concerns.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypePaperPlasticApplicationFoodBeveragesPharmaceuticalsPersonal And Home CareOthersGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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TCL 50 PRO NXTPAPER 5G Smartphone Named CES 2025 Innovation Award Honoree

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IRVINE, Calif., Nov. 14, 2024 /PRNewswire/ — TCL, a pioneer in display technology across feature-rich smartphones, tablets, and connected devices, is proud to announce its TCL 50 PRO NXTPAPER 5G smartphone has been honored with a CES 2025 Innovation Award for Mobile Devices. The recognition exemplifies TCL’s commitment to humanize technology and deliver innovative products optimized for the user experience.

This marks the second year in a row TCL has been recognized by the CTA for its mobile products. Last year, the TCL 40 NXTPAPER smartphone was also named a CES 2024 Innovation Award honoree in the Mobile Devices category. Emboldened by the positive feedback and results, TCL is committed to further pushing the boundaries of innovation with even more advanced and humanized technology for all users.

“At TCL, we’re not only keeping our finger on the pulse of the industry; we dig deep into every aspect of the user journey to help inform the devices that we craft,” said Jefferson Li, General Manager of TCL Mobile Phone Business Unit. “Integrating the pioneering NXTPAPER technology with cutting-edge AI capabilities, the TCL 50 PRO NXTPAPER 5G phone represents a significant upgrade in how we experience our digital world, providing users a clearer, more comfortable way to watch, create, and read wherever they go – all at an affordable price.”

The launch of the TCL 50 PRO NXTPAPER 5G at IFA 2024 in September has been a major highlight in TCL’s journey towards excellence this year. Leveraging AI functionalities powered by TCL’s partnership with Microsoft, and the distinct advantages of the latest NXTPAPER technology, the device is tailored to enrich reading and viewing experiences with enhanced productivity and unparalleled eye comfort. Representing a harmonious integration of technology and daily life, it empowers users with the freedom to effortlessly access and enjoy content in any setting.

The CES Innovation Awards program, organized by the Consumer Technology Association (CTA), is an annual competition honoring outstanding design and engineering in a multitude of consumer technology product categories. An elite panel of industry expert judges review and select the highest-scoring submissions based on innovation, engineering and functionality, aesthetics, and design.

The TCL 50 PRO NXTPAPER 5G boasts an exceptionally clear display that can minimize glare and reduce eye strain in any lighting condition, emulating the look and feel of paper that is gentle on the eyes. Adaptive screen settings optimize brightness and automatically adjust color temperature based on the time of day for a comfortable and natural viewing experience. A switch of the NXTPAPER Key instantly activates Max Ink Mode, promoting focused and immersive reading and minimizing eye fatigue. Combined with the Eye Care Assistant, the smartphone accommodates a contemporary digital lifestyle by prioritizing visual comfort. With sleek basalt cover and infinite pool design, it seamlessly blends both form and function.

About TCL Mobile
TCL Mobile specializes in the research, development and manufacturing of smartphones, tablets and connected devices. On a mission to deliver 5G for all, TCL Mobile helps its customers ‘Inspire Greatness’ in their lives through industry leading technology and solutions. For more information on TCL mobile devices, please visit: https://www.tcl.com/global/en/mobile

About TCL
TCL Electronics specializes in the research, development and manufacturing of consumer electronics including TVs, mobile phones, audio devices, smart home products and appliances. Combining thoughtful design and innovative technology to inspire greatness, our lineup delivers must-have features and meaningful experiences. As one of the world’s largest consumer electronics brands, our vertically integrated supply chain, and state-of-the-art display panel factory help TCL deliver innovation for all. For more information, please visit: https://www.tcl.com 

TCL is a registered trademark of TCL Corporation. All other trademarks are the property of their respective owners. 

 

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SOURCE TCL Communication Technology Holdings Ltd.

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Deepak Chem Tech Limited to invest Rs 5000 Crores to acquire Polycarbonate Assets of Trinseo at Germany

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The Board approves Rs 5000 Crore investmentIncludes Greenfield infrastructure capex and Technology LicenseTo manufacture 165000 Metric Tonnes Polycarbonate Resin at DahejDeepak Chem Tech Limited is a wholly owned subsidiary of Deepak Nitrite Ltd.

VADODARA, India, Nov. 15, 2024 /PRNewswire/ — Deepak Chem Tech Limited plans to invest Rs 5000 Crores in Polycarbonate Project. Deepak Chem Tech Limited (DCTL) – a wholly owned subsidiary of Deepak Nitrite Limited, has approved to undertake a project for manufacturing Polycarbonate resins, proposed to be setup at the greenfield site located at Dahej, Gujarat, to produce 165,000 Metric Tonnes. The plant is expected to be commissioned by the fourth quarter of FY 2028. For this, Deepak Chem Tech Ltd. has entered into an agreement with Trinseo to acquire its Polycarbonate assets located at Stade, Germany along with technology license. The agreement also provides access to Trinseo’s globally recognized CALIBRETM resins and trademark.

Polycarbonate is amongst the most versatile emerging polymer finding extensive applications in automotive segments including electric mobility, electronics and electrical, construction, appliances, medical devices and other sunrise sectors such as aerospace, aviation, drones etc.

Commenting on the development, Shri Deepak C Mehta, Chairman and Managing Director of Deepak Nitrite Limited said, “This is historic collaboration between DCTL and Trinseo opens strategic opportunities for both the companies to explore partnerships in downstream compounds as well as complimentary technology tie-ups to service India’s burgeoning appetite for high quality engineering polymers. The tagline ‘Made in India‘ coupled with world scale capacities and formidable brand credibility, opens a new horizon of opportunities in the Advanced Materials front.”

Trinseo is a major manufacturer of engineering polymers and compounds with reported net sales of approximately $3.7 billion in 2023. Its engineering compound portfolio finds application with global, marque brands across industries.

About Deepak Nitrite Limited:

Deepak Nitrite Limited (NSE: DEEPAKNTR, BSE: 506401), India’s fastest growing Chemical Intermediates company, has a diversified portfolio that caters to the dyes and pigments, agrochemical, pharmaceutical, plastics, textiles, paper and home, and personal care segments and Petro derivates intermediates -phenolics, acetone and IPA in India, and overseas. Its products are manufactured across seven locations, which are all accredited by Responsible Care. It is certified by Ecovadis, TfS and is part of the Nicer Globe Alliance. Focusing on a Triple Bottomline principle of People, Planet, Profit, Deepak Nitrite Ltd. deploys globally benchmarked standards & systems, we are now accredited ‘Silver Rating’ by EcoVadis in 2022, for sustainability initiatives.

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Global Times: Illuminate roof of ‘Beautiful China’: Solar-powered rooftops transform countryside environments, boost rural revitalization efforts

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BEIJING, Nov. 14, 2024 /PRNewswire/ — The upper part of the Chinese character “home” resembles a roof, symbolizing a home can only exist with a roof over it.

Today, an increasing number of Chinese people are creating environmentally friendly landscapes on the roofs they cherish most, showcasing a tangible “Beautiful China” through their homes.

In early winter, at the foot of the Helan Mountains, the sun still brightly shines over the vast Gobi Desert. When people enter Yuanlong village of Minning town, Northwest China’s Ningxia Hui Autonomous Region, one can find rows of newly constructed agricultural residences with red tiles and white walls lining the road. From above, the blue photovoltaic panels glimmering on each red roof create a colorful mosaic under the sunlight.

Chinese people have aspired to convey their vision of harmony between heaven, earth, and humanity through architecture. Regarding the decision to install photovoltaic panels on the roof of her house, villager Zhang Hui told the Global Times that by installing photovoltaic panels on their roofs, they earn extra money, and the clean energy generated by the panels also gives them a channel to make their contribution to the country’s emissions reduction and energy conservation efforts.

“We want to further emphasize the harmonious coexistence of humanity and nature, embodying a characteristic of Chinese modernization through our roofs,” she said.

In recent years, China’s solar photovoltaic technology is emerging as a key component of China’s strategy to achieve its “dual carbon” goals, which aimed at achieving peak carbon emissions by 2030, and carbon neutrality by 2060. 

The creation of this elevated landscape is a vivid representation of the Chinese people’s efforts in building a “Beautiful China” in all respects. In this revolutionary transformation that involving production methods, lifestyles, and values, countless individuals have keenly perceived that China is keeping pace with the times, making a sound, inclusive ecological environment for the well-being of the people.

Cash in on the sun

For the residents of the village, installing rooftop solar systems and earning money from sunlight has now become a source of joy. “Because when you look up, you can see your own roof, and it reminds you of the abundant harvest you have,” Zhang said.

Since 2016, Yuanlong village has successively built a 5-megawatt rooftop photovoltaic power station, supplied by photovoltaic panels on the roofs of over 1,635 immigrant households, accounting for nearly 96 of the village’s total households. As of March 2024, this initiative had earned a total of 40.22 million yuan ($ 5.5 million) in photovoltaic revenue for the village.

Since 2018, Zhang’s family has been renting the 54-square-meter rooftop to the power company, and the annual rental fee has increased from 300 yuan to 480 yuan as the power station has gradually entered a stable operating phase.

Beyond the tangible rental income, Zhang has also witnessed the thriving changes brought to her village by the rooftop photovoltaic power station program.

In 2020, the photovoltaic power station in Yuanlong village generated 850,000 yuan in revenue for the village collective. A portion of this revenue is distributed to villagers as rental fees, while another part is used as dividends for the village collective’s shares, funding various public welfare expenditures such as environmental sanitation improvements, major illness assistance for villagers, and education support.

The Global Times has learned how the rooftop solar systems program in Yuanlong village was operated: the local government attracts external investment to bid for the construction of a photovoltaic power station, guarantees a 100 percent buyback of the project’s output, ensuring that the village and its residents will receive 100 percent of profits during the 20-year operational period of the power station.

“Turning green, clean energy advantages into economic development advantages is a new concept for us,” said Ha Manpeng, 44, a villager from Yuanlong

Ha and many other villagers learned that the area they live has a high altitude, flat terrain and long sunlight hours, making it suitable for the installing of clean and efficient solar photovoltaic systems

“Simply retrofit the vacant roof, there will be a stable and long-term additional benefit. The manufacturers cooperating with the government will regularly send personnel to maintain, and regularly update the equipment, thus we have nothing to worry about,” Ha said.

Comfort life out of mountains

Zhang jokingly remarked that rooftop solar power generation has allowed the Yuanlong’s villagers to truly transition from a weather-dependent life to “making money from the weather.”

The over 10,000 villagers in Yuanlong were moved from another village – Xihaigu in 2012, which is a largely mountainous region that was labeled the “most unfit place for human settlement” by the United Nations in the 1970s due to land reclamation, drought, and a fragile ecological environment. 

Ha recalled his childhood living in the village hidden in the folds of the mountains, where every household was plunged into darkness at night.

Over the past 40 years, Ningxia launched six large-scale resettlement schemes, moving some 1.23 million people from Xihaigu to more habitable areas. The relocation was part of the poverty alleviation drive, fulfilling many villagers’ desire for a comfortable life out of the mountains.

Having escaped the vicious cycle of ecological and survival crises, what kind of life and development path did the villagers of Xihaigu choose in their new homes?

Yuanlong village is one of the villages that has benefited early from the income generated by photovoltaic power stations. Ha was among the first residents to install solar panels on roof.

Initially, Ha’s personal experience with the five photovoltaic panels installed on his roof was simply that they provided shade on sunny days, and made the roof less prone to leaks on rainy days. As more households in the village adopted the solar rooftops, Ha witnessed a profound improvement in the living conditions of the villagers, along with an increase in their income.

As of November 2020, China had achieved the feat of delisting all 832 poverty-stricken counties. The development of photovoltaic power stations, as a typical model of industrial poverty alleviation, has contributed to this historic achievement.

According to China’s National Energy Administration, by the end of 2020, China had built photovoltaic power stations with a combined capacity of 26.36 million kilowatts,  generating approximately 18 billion yuan in annual electricity revenue, and creating 1.25 million public welfare jobs.

When this clean, low-carbon, safe, and efficient energy enters the homes of ordinary people, it not only provides shelter through new types of rooftops for families, but also supports more Chinese people in achieving a moderately prosperous life. Many residents have come to realize that their choices contribute to the country’s energy conservation and emission reduction efforts.

They want to do even more.

“When I was a child, there was no electricity in my home, but now we can even produce electricity at home. In our village, people prefers to buy new energy vehicles. Waste sorting has become a habit for the villagers,” Ha said.

“When we go out traveling, the children can immediately ‘capture’ solar panels everywhere. They are also very happy to see that more and more villages began to install solar rooftops just like us,” Zhang added. 

Green electricity town

Facing the changes in life, as an official of the Yuanlong village, Zhang’s focus has gradually shifted from the land owned by villagers to the cattle and sheep they raise, and the job opportunities available to them. Now, she is also gradually learning to consider all these key aspects within the context of the new era of development she is in.

Whenever representatives from enterprises and communities visit Yuanlong village, Zhang highlights the embroidery skills of the local women and the solar roofs they have. 

One of Zhang’s proudest achievements this year has been helping to showcase and sell the village women’s embroidered crafts to a power supply company in Fuzhou, East China’s Fujian Province. She is very proud that this “green collaboration” has broken through regional limitations, built more bridges for communication between her village and the outside world, and empowered the development of local women.

With the official launch of the “green electricity town” project in Minning town in August 2023, which aims to create a new type of system demonstration area powered entirely by clean energy 24 hours a day, the project is expected to reduce carbon emissions by 48,000 tons annually once completed.

Zhang believes that the villagers in Yuanlong will have more opportunities to showcase their talents and felt gratified that she is living in a country that pays more attention to protecting the ecological environment.

At a national conference on ecological and environmental protection held in July 2023, Chinese President Xi Jinping has stressed efforts to promote the building of a Beautiful China in all respects and accelerate the advancement of modernization featuring harmony between human and nature.

The next five years is a crucial period for building a Beautiful China, which should be placed in a prominent position in building a great modern socialist country in all respects and advancing national rejuvenation, Xi said.

The country should support high-quality development with a high-quality ecological environment and promote the modernization featuring the harmonious co-existence between human and nature, he noted.

Looking up at her rooftop, Zhang eagerly awaits the completion of the “green electricity town.” She hopes it will build a stronger bridge connecting the common people’s dream of a better life with the country’s plans for emission reduction and energy conservation, leading to a more “Beautiful China.”

https://www.globaltimes.cn/page/202411/1323101.shtml

 

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SOURCE Global Times

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