Paper and Paperboard Packaging Market is Expanding & Reach 295.58 Billion by 2031 – Know How | Latest InsightAce Study
Companies Studied in the Report are Amcor Plc, DS Smith, International Paper, Mondi Group, Westrock Company, Cascades Inc., Clearwater Paper Corporation, ITC Limited
Jersey City, NJ, April 06, 2023 (GLOBE NEWSWIRE) — InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the “Global Paper and Paperboard Packaging Market Size, Share & Trends Analysis Report By Grade (Solid Breached Sulfate, Coated Unbleached Kraft Paperboard, Folding Boxboard, White Lined Chipboard, Glassine & Greaseproof Paper, Label Paper), Type (Corrugated Box, Boxboard, Flexible Paper) Application (Food, Beverage, Healthcare, Personal & Homecare)- Market Outlook And Industry Analysis 2031”
The global Paper and Paperboard Packaging Market is estimated to reach over USD 295.58 billion by 2031, exhibiting a CAGR of 4.73% during the forecast period.
Paper and paperboard packaging has evolved into a standard and necessary component of items used on a daily basis, even for minor purposes. Paper packaging is relatively simple and does not require significant initial expenditure. Paper packaging is when the paper is used as an exterior layer on a product. It is used to safeguard, store, and transport goods.
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The primary factors driving the growth of the paper and paperboard packaging market are the increasing demand for paperboard packaging boxes from the healthcare industry, increasing awareness pertaining to sustainable packaging material, adoption of eco-friendly packaging and growing adoption of paper-based packaging in the food industry.
Furthermore, rising plastic material sustainability difficulties are prompting e-commerce enterprises to replace flexible plastic packaging with paper packaging, which is likely to boost growth in the paper & paperboard packaging market.
• In November 2021, Nippon Paper Industries Co., Ltd. announced price increases in the domestic market for printing, communication, and industrial paper to all of its agencies. As a result, the company’s revenue has increased in the long run.
List of Prominent Players in the Paper and Paperboard Packaging Market:
- Amcor Plc
- Atlantic Packaging
- Cascades Inc.
- Clearwater Paper Corporation
- DS Smith Plc.
- Fedrigoni S.P.A.
- International Paper Company
- ITC Limited
- Mayr-Melnhof Karton AG
- Metsa Group
- Mondi Group
- Nippon Paper Industries Co. Ltd.
- Oji Holdings Corporation
- Packaging Corporation of America
- Rengo Co., Ltd.
- Shandong Bohui Paper Company Ltd.
- Smurfit Kappa Group Plc.
- South Africa Pulp and Paper Industries Ltd.
- Stora enso Oyj
- Svenska Cellulosa Aktibolaget
- Westrock Company
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Paper and Paperboard Packaging Market Report Scope:
|Market size value in 2022||USD 197.94 Bn|
|Revenue forecast in 2031||USD 295.58 Bn|
|Growth rate CAGR||CAGR of 4.73 % from 2023 to 2031|
|Quantitative units||Representation of revenue in US$ Million, Volume (Ton), and CAGR from 2023 to 2031|
|Historic Year||2019 to 2022|
|Report coverage||The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends|
|Segments covered||Grade, Type And Application|
|Regional scope||North America; Europe; Asia Pacific; Latin America; Middle East & Africa|
|Country scope||U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia|
Environment-conscious consumers prefer paper or paperboard packaging to other packaging solutions. The waste or recovered market is expected to grow, and consumers are interested in purchasing recycled products. Paper and paperboard containers are biodegradable and more sustainable than plastic, making them more appealing to consumers. Thus, the environmental benefits associated with paper and paperboard containers will increase the adoption of such products by enterprises in several industries, such as retail and wholesale, which is anticipated to drive the global Paperboard Packaging Market.
Flexible plastic packaging offers the most significant benefit to manufacturers and retailers as it reduces packaging weight, resulting in lower shipping and warehousing costs and, thus, more space. It provides convenient consumer features, such as single-serve portions, easy-to-open and easy-peel options.
The food tastes better in retort pouches than in traditional tin cans. Hence, convenience, portability, cost savings, sustainability, and health benefits encourage product packaging manufacturers and packaging converters to move away from standard rigid materials to flexible materials. Because most modern shoppers value convenience and portability, package design has shifted towards flexible, easy-to-handle containers.
The Asia Pacific Paper and Paperboard Packaging Market are expected to register a significant market share in terms of revenue and is projected to grow at a high CAGR soon owing to the expanding food and beverage sector in India and China, which is directly driven by rising population and demand for food items.
The regional industry is witnessing a substantial influx of foreign investments and the entry of multinational brands into the economy to benefit from the attractive potential the economies have to offer.Due to increased interest in recycling paper and avoiding the use of plastic, Germany has seen rapid growth in paper and paperboard packaging.
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Segmentation of Paper and Paperboard Packaging Market-
- Solid breached sulfate
- Coated unbleached kraft paperboard
- Folding boxboard
- White lined chipboard
- Glassine & greaseproof paper
- Label paper
- Corrugated box
- Box board
- Flexible paper
- Personal & Healthcare
- The US
- The UK
- Rest of Europe
- South Korea
- South East Asia
- Rest of Asia Pacific
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of the Middle East and Africa
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