Market Share of Secondary Packaging Industry
The secondary packaging market is fragmented with major players adopting various growth strategies, such as mergers and acquisitions, new product launches, expansions, joint ventures, partnerships, and others, to strengthen their position in the market. Some of the major players in the market are Amcor, International Paper Company, Reynolds Packaging, Stora Enso, WestRock, Ball Corporation, and Berry Plastics.
In July 2022, Knoll Packaging formed a business relationship with Italy's Albertini Packaging Group (APG). Because of APG's manufacturing site in Belgrade, Serbia, the deal between the two family-owned enterprises allows Knoll Packaging to expand its industrial production capability beyond China to Europe. The two firms will be market partners, but they will also be able to exchange technological and production know-how regularly. Beginning in 2023, the deal was anticipated to significantly increase the volume generated and orders for both businesses.
In April 2022, DS Smith designed environmentally friendly packaging for an Asian corporation. Instead of the previously used adhesive packaging with a single-use plastic insert, the corrugated cardboard box uses a single-material solution. The packaging can be utilized for e-commerce deliveries, with cardboard inserts storing separate gadget elements. It is also said to save money. Furthermore, the packaging is intended to increase environmental protection across the supply chain and to be easily recyclable.
Secondary Packaging Market Leaders
Amcor PLC
International Paper Company
Reynolds Packaging
Stora Enso
WestRock
*Disclaimer: Major Players sorted in no particular order
