The Global Paper Packaging Market Size is valued at 355.47 billion in 2023 and is predicted to reach 515.74 billion by the year 2031 at a 4.82% CAGR during the forecast period for 2024-2031.
Paper packing refers to packaging made of papers and boards. Cartridge paper, Kraft paper, recycled paper, and other materials are used for paper packaging. Some of the various types of paper packaging goods used in the fast food, fresh food, dairy and bakery, frozen foods, pet food, cosmetics, and pharmaceutical industries include Tetra packs, cartons, folding boxes, sacks, bags, and corrugated cases. Paper packaging materials have advantages over other packaging materials like metal and plastic since they can be easily recycled and reused. One of the key factors driving the expansion of this industry is the lightweight, affordable, and environmentally friendly nature of paper packaging materials.
Furthermore, this market is anticipated to expand quickly due to the rising demand for flexible paper packaging as consumers become more conscious of the adverse environmental effects of plastics. Furthermore, the paper packaging industry in these countries is anticipated to be driven by the BRIC nations' robust economies. The market demand for paper packaging is predicted to rise as the packaging business expands since paper continues to be the most common material used in packaging. During the projection period, the market is anticipated to develop more slowly than average due to the strict deforestation restrictions in several nations worldwide. The impending ban on light plastic bags presents this sector's opportunity to expand—a significant switch from rigid to flexible packaging, which helps boost the market.
Recent Developments:
- In August 2022, Testronix introduced new packaging testing equipment. The top manufacturer of testing equipment in Asia, Testronix, just introduced premium next-generation packaging testing equipment. The testing equipment from Testronix is renowned for its high level of technology and build quality. Testronix and its highly qualified team of engineers have been able to create the newest technological instruments to service the paper and packaging industries thanks to extensive research and development efforts.
Competitive Landscape:
Some of the major Paper Packaging market players are:
- International Paper Company
- Mondi Group
- Smurfit Kappa Group
- DS Smith PLC
- WestRock Company
- Packaging Corporation of America
- Cascades Inc.
- Holdings Corporation
- Nippon Paper Industries Ltd.
- Rengo Co. Ltd.
- Graphic Packaging International
- Metsä Board Oyj
- Sonoco Products Company
- Visy Industries
- Seaboard Folding Box Company Inc.
- Georgia-Pacific Corporation
Market Segmentation:
The Paper Packaging market is segregated by grade, product, and end-user industry. The market is segmented into carton board, containerboard, and other grades based on grade. By the product, the market is segmented into Folding Cartons, Corrugated Boxes, and Other Types. The end-use industry segments the market as Food, Beverage, Personal Care, Healthcare, Household Care, Electrical Products, and Other End User Industries.
Based On Product, The Folding Cartons Segment Is Accounted As A Major Contributor In The Paper Packaging Market
Due to their widespread use in milk and juice box packaging, folding packaging cartons make up the most significant product category of paper packaging materials. The market for corrugated cases is anticipated to stimulate product demand as they are increasingly used in retail packaging as a result of advancements in design innovation. Furthermore, corrugated issues, which are lightweight, reusable, recyclable, and highly robust, are anticipated to rise quickly, stimulating the demand for paper packaging. Throughout the following years, there will likely be a significant increase in the demand for cartons and folding boxes as ornamental and bulk packaging become more and more popular.
The Beverages Segment Witnessed Growth At A Rapid Rate
Due to the rise in the consumption of juices and functional beverages, beverages made up the most significant application category for paper packaging. Due to the rising use of paper to wrap and enclose food products, application categories such as fresh foods, frozen foods, and fast foods are predicted to exhibit substantial expansion in the paper packaging materials market over the course of the forecast period. The need for paper packaging is also anticipated to increase as a result of technological advancements in food applications, such as the creation of laminated and coated papers that resist leaking. Because it adds value to food and other products through efficiency, adaptability, innovation, and sustainability, paper packaging is predicted to increase at the quickest rate in the packaging market.
The North America Paper Packaging Market Holds A Significant Revenue Share In The Region
Due to a rise in flexible packaging, North America and Europe have experienced substantial growth in recent years, accounting for more than half of the global market for paper packaging materials. Due to the expansion of the region's entire packaging sector, the Asia Pacific market is anticipated to experience the quickest growth for paper packaging in the future years. Due to the developing packaging sector in these nations and the rising per capita spending of consumers in these regions, the roW is anticipated to capture a sizable market share throughout the projection period. Globally, there will be a greater demand for paper packaging as consumption and demand for consumer goods rise.
Paper Packaging Market Report Scope:
|
Report Attribute |
Specifications |
|
Market size value in 2023 |
USD 355.47 Bn |
|
Revenue forecast in 2031 |
USD 515.74 Bn |
|
Growth rate CAGR |
CAGR of 4.82% from 2023 to 2031 |
|
Quantitative units |
Representation of revenue in US$ Billion, Volume (Tons) and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report coverage |
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
|
Segments covered |
Grade, Product, And End-User Industry |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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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 |
|
Competitive Landscape |
International Paper Company, Mondi Group, Smurfit Kappa Group, DS Smith PLC, WestRock Company, Packaging Corporation of America, Cascades Inc., Holdings Corporation, Nippon Paper Industries Ltd., Rengo Co. Ltd., Graphic Packaging International, Metsä Board Oyj, Sonoco Products Company, Visy Industries, and Seaboard Folding Box Company Inc. |
|
Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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