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Paperboard Closure Market: An Overview

Paperboard is used predominantly for packaging in various industries such as food & beverage, personal care, health care and home care. Paperboard closures are used for preserving the products and extend their shelf life. Increase in e-commerce and online shopping is expected to drive the global demand for paperboard closures. Growing sustainable demands and environmental conservation might propel the growth of paperboard closure. Convenience to open and close the paperboard closure easily and protection against damage is the key factors which are likely to boost the demand for paperboard closure market.

Paperboard Closure Market: Dynamics

Paperboard closure provides an opportunity for the brand owners to market and promote their product. Paperboard closures have ample space for graphic printing which can attract the customers to various details of packaging such as logo, designs and promotional details. In addition, paperboard closures are widely used as speciality and gift box. Paperboard closures with magnetic properties reduce the effort of sealing and sticking the box. Paperboard closures are used for packaging of footwear, apparels, cosmetics and luxury products. With the advent of brands selling bundled products in the form of kits, it is anticipated that there will be an increase in the demand for paperboard closure. Modern designs and demand for luxury good are likely to boost the market demand for paperboard closure.

Rising urbanization, increase in disposable income and a better standard of living has led to the expenditure on personal care, apparels, footwear and accessories. Accessories such as watches, wallets, belts and jewellery widely use paperboard closure to pack their products. Abstract designs and layering of the closure with different material enhances the attractiveness of the product. Versatility, availability and convenience are the factors which are likely to impact the market for paperboard closures positively. Moreover, paperboard closure is economical compared to other substrates such as leather or metal. This is likely to increase its adaptability by the brand owners as it reduces the total cost of the product. In addition, paperboard closure is recyclable and made up of eco-friendly raw material which reduces the footprints on the environment. Increasing demand for sustainability is expected to hike the market demand for paperboard closures.

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Paperboard Closure Market: Segmentation

Paperboard Closure Market can be segmented on the basis of type and end-user industry.

By Type, Paperboard Closure Market can be segmented as

  • Custom closure
  • Two-piece set up closure
  • Gate fold closure
  • Handle closure
  • Front open closure
  • Display closure
  • Others

By End-User Industry, Paperboard Closure Market can be segmented as

  • Personal Care Industry
  • Home Care Industry
  • Food & Beverage Industry
  • Consumer Goods Industry
  • Others

Paperboard Closure Market: Regional Outlook

The Asia Pacific is likely to lead the global market for paperboard closure due to the presence of a large number of manufacturers in the region. India and China are expected to show an increase in the market demand for paperboard closures due to improvised standard of living and increasing expenditure on luxury goods. Rising urbanisation and middle-class population in the emerging economies such as India and China is anticipated to fuel the market growth for paperboard closure.

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Paperboard Closure Market: Impact of COVID 19

The COVID 19 outbreak has adversely affected the global supply chain in terms of lower inventory levels of paperboard, limited supply of raw materials, interruptions in logistics, halt in the production line and reduced workforce. This is likely to increase the cost of production of manufacturing paperboard closure. However, increased demand for paperboard closure is anticipated to boost rapidly due to the surge in online shopping and e-commerce activities. Customers will prefer to order products online rather than going out to buy them. This change in consumer behaviour is likely to impact the volume of deliveries globally which directly impacts the growth of paperboard closures.

Paperboard Closure Market: Key Players

Key players in the Paperboard Closure Market are as follows,

  • Grief Packaging LLC
  • Graphic Packaging Holding Co.
  • Ever Green Packaging
  • WestRock
  • Ox Industries
  • International Paper Co.
  • Packaging Blue
  • Classic Packaging Corporation
  • Smurfit Kappa Group PLC
  • Guangzhou Yifeng Printing & Packaging Co., Ltd.
  • Shanghai Coffe Packing Group Co., Ltd
  • Square Bag Corporation

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Paperboard Closure Market

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