Main function of packaging
The most important function of packaging is to ensure a product's safety to consumers. Packaging protects products during transport, prolongs their useful life and even conveys vital information about the product's composition and use. Well-designed packaging facilitates the role of good transport and shelving and helps reduce waste throughout the supply chain.
Depending on the packaging end use, paperboard can be produced either from fresh or recycled fibre. The decision is based on quality, product safety and hygiene requirements.
Metsä Board uses only fresh fibre for the production of paperboard. Global demand for high-quality fresh fibre paperboards has been growing by 2–3% annually.
Global packaging market: Size and growth
The global packaging market value is approximately $1,015 billion, calculated on the value of finished products. The estimated annual growth rate during 2021–2026 is on average +4%.
Estimated annual growth rates during 2021–2026 for packaging material segments are: Paperboard: 5%, other fibre based packaging materials: 2%, plastic: 4%, metal: 3% and Glass 2%. (Source: Smithers Information)