Market players are focusing on research and development activities along with product portfolio expansion, including establishment of online channels and brand positioning.
ROCKVILLE, MD / ACCESSWIRE / November 23, 2020 / The global packaging nets market is anticipated to expand at a healthy CAGR of over 4% throughout the assessment period of 2020-2030. The expansion can be primarily attributed to the ever-growing need for packaging materials all over the globe.
"Technological developments and improvements in production techniques of packaging nets continue to be the key focus area of market players." says the Fact.MR report.
Packaging Nets Market- Key Takeaways
- The global packaging nets market to reach a valuation of US$ 1 bn towards 2030 end.
- North America accounts for the majority of the market share owing to the growing demand for packaging nets
- Synthetic packaging nets to attain more than 58% market share over the forecast period.
- Food segment is anticipated to account for over 66% of the overall market share.
- Extruded packaging nets remain the key beneficiary.
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Packaging Nets Market - Driving Factors
- Escalating need for packaging materials all over the world to push market growth
- Provision of high customization and usage in various end-use industries propelling growth
- Growing logistics costs due to surging fuel costs are boosting demand for packaging nets.
- Growing R&D activities amid key players and constant requirement for enhanced quality of packaging nets is a key development
Packaging Nets Market - Constraints
- Availability of counterfeit and cheap packaging nets can hinder market growth.
- Less protection offered to the content inside the nets is anticipated to impact the market growth negatively.
Anticipated Market Impact by COVID-19 Outbreak
The packaging nets market has been significantly impacted by the onset of the COVID-19 outbreak. The pandemic has caused a significant drop in demand for the packaging nets on the back of the implementation of lockdowns by governments all over several regions, thus stopping transportation and trade from one region to another.
Explore the global Packaging Nets market with 178 figures, 156 data tables, along with the table of contents of the report. You can also find detailed segmentation on https://www.factmr.com/report/977/packaging-nets-market
Competition Landscape
Major companies operating in the global packaging nets market include EXPO-NET, SWM,Giró Group, Intermas, GSH Group, Lenzing, NorPlex Inc., MAAR, Starlinger Group, and S.M. Enterprise. Companies are inclined towards packaging weight reduction which remains a foremost aspect boosting the market from saturation.
More on the Report
The Fact.MR's market research report provides in-depth insights into the packaging nets market. The market is scrutinized based on source (natural packaging nets and synthetic packaging nets), type (extruded packaging nets and knitted packaging nets), form (bags and rolls), and application (food {fruits & vegetables, meat & seafood, and others) and non-food {consumer goods, sports accessories, and others}), across five major regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA)).
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SOURCE: Fact.MR