Paper Based Packaging is Expected Hold a Significant Share
– In order to protect, preserve, and transport a wide variety of items, paper-based packaging is an efficient and cost-effective method. There are various types of paper packaging which are used by many end-user industries such as Containerboard, paperboard, paper bags and shipping sacks.456- After realizing the benefits of paper packaging many companies have now started launching their products in a paper-based packaging which are recyclable. For instance, in March 2019, Nestle, in 5 different European markets including Spain announced the launch of a new Nesquik All Natural powder which features simplified natural ingredients that comes in a recyclable paper pouch.456- Recycling of packaging materials has been quite troublesome especially when it comes to plastic materials which in turn would give a boost to materials like paper that are easy to recycle giving rise to the usage of paper packaging in the region.456- For instance, in January 2018, Smurfit Kappa Group completed construction of its new paper recycling plant in Malaga, Spain With a processing capacity of 30,000t of recovered paper a year. This facility would allow the company to tap into the growing shift towards paper-based packaging solutions driving the demand for corrugated packaging.
Food and Beverage Industry to Contribute Significantly for the Growth of Packaging Industry
– With special attention given to the quality, traceability, and safety of the food products processed, Spain enjoys a modern food processing sector focusing mainly on the domestic. This is expected to boost the market in the region over the forecast period.456- Due to the improved economic environment, and the increased disposable income in the hands of the people is one of the significant factor fueling the growth of the packaging industry throughout the forecast period. For instance, in 2017, the Spanish food retail sales USD 118.7 billion.456- Some of the prominent players in the packaging industry are expanding their footprint in the region which is expected to fuel the demand for the packaging materials across the industry.456- For instance, in September 2018, Crown Holdings, Inc. the leading provider of packaging products announced the building up of a new plant in Spain’s Valencia region for the production of aluminum beverage cans.