Paper & Paperboard Packaging Market 2022 - Market Size
& Forecast, Industry Trends, Manufacturers Analysis, & Opportunities
2030
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The global paper
& paperboard packaging market is expected to grow at a compounded annual
growth rate (CAGR) of 4.5% during the forecast period of 2022-2030.
Paper and paperboard
packaging include thick paper-based materials extracted from pulp derived from
wood and non-wood origins like bamboo, straws, and others. These materials are lightweight
and versatile and are used to wrap and pack products and make packaging labels,
boxes, packaging cartons, magazines, and cardboard boxes. These can also be
easily molded, cut, and shaped.
Paper and paperboard
packaging solutions have a wide range of applications across various industrial
verticals, including healthcare, food and beverages, electronics, construction,
education, freight & carrier personal care, and home care.
Growth
Drivers:
Factors
primarily driving the growth of this market include: the growing demand for
sustainable and recycled packaging across various end-user industries; the
enhancing demand for eco-friendly packaging; the increasing number of stringent
regulations against plastic-based packaging products; the raising awareness
regarding sustainability and recyclability of paper and paperboard packaging
among the consumers: the rapidly augmenting environmental issues of landfills
and degradation of packaging material; the rising shift from plastic paper
& paperboard packaging due to their sustainable nature; the rapidly
expanding packaged food industry, and the high dependence on convenient foods
among consumers across the globe.
Additionally, e-commerce companies utilize cardboard
packaging heavily for secondary and tertiary packaging purposes due to their
low-cost and lightweight attributes. The
e-commerce industry is witnessing rapid growth across the globe, which is set
to create enormous growth opportunities for the global paper & paperboard
packaging market in the next few years.
Moreover, the leading players operating in the paper &
paperboard packaging market are seen to putting major emphasis on increasing
their offering of products & services in the market. They are currently
looking to extend consulting services to end users to pick out the most
suitable packaging solution per their individual requirements. This increasing
number of products & services is expected to considerably expand the global
paper & paperboard packaging market in the upcoming years.
Furthermore, other factors such as: the growing waste or
recovered paper market; the rising industrialization across the globe; the
surging consumer awareness regarding the ill-effects of non-biodegradable
materials; the growing disposable incomes of people, especially in the
developing countries; the increasing number of supermarkets and hypermarkets, and
the proliferating growth of online shopping, especially due to easier return
policies, faster delivery, and free shipping are expected to further bolster
the growth of the global paper & paperboard packaging market during the
forecast period.
However, the rising competition from flexible plastic
packaging and the growing number of small and medium scale manufacturers and
converters are anticipated to hamper the growth of the global paper &
paperboard packaging market to some extent during the forecast period.
Paper
& Paperboard Packaging Market Segmentation:
By Grade:
·
Solid
Bleached Sulfate (SBS)
·
Coated
Unbleached Kraft Paperboard (CUK)
·
Folding
Boxboard (FBB)
·
White
Lined Chipboard (WLC)
·
Glassine
& Greaseproof Paper
·
Label
Paper
·
Others
By Type:
·
Corrugated
Box
·
Boxboard
·
Flexible
Paper
By Application:
·
Food
& Beverage
·
Healthcare
·
Personal
& Homecare
·
Others
By
Region:
·
North
America
·
Europe
·
Asia
Pacific
·
Latin
America
·
Middle
East and Africa
Based on application, the food & beverage segment held
the largest share of the global paper & paperboard packaging market in
2021, followed by the personal & homecare segment. The trend is expected to
continue throughout the forecast period of 2022-2030. The growing adoption of
paper & paperboard packaging solutions by food manufacturers, the
increasingly busy lifestyles of people leading to the burgeoning demand for
packaged foods & beverages, and frozen foods are predominantly attributed
to the large share of this segment.
Based on grade, the Coated Unbleached Kraft paperboard (CUK)
segment acquired the largest share of the global paper & paperboard
packaging market in 2021. The segment is anticipated to retain its lead further
in the market during the forecast period of 2022-2030, owing to the rising utilization
of these solutions for the production of paper bags.
Based on type, the flexible paper segment dominated the
global paper & paperboard packaging market in 2021. The segment is
predicted to maintain its position in the market throughout the forecast period
of 2022-2030. The rising application of
flexible bags due to their cost-effectiveness and exceptional printability and
the increasing replacement of single-use plastic bags with these bags are the
major factors ascribed to the high growth of this segment.
Regional
Outlook:
The Asia
Pacific region commanded the global paper & paperboard packaging market in
2021, followed by North America and Europe. The region is poised to remain
dominant and also witness the highest growth in the market throughout the
forecast period of 2022-2030. The rapidly expanding packaging industry; the
growing number of supermarkets and hypermarkets; the changing lifestyles and rising
disposable incomes of people, especially in the emerging nations; the high
dependence on convenience food, the increasing population base, and the
presence of leading market players in the region are the major factors
attributed to the large share of the Asia Pacific region. India, China, Japan,
and Australia are the major contributors to the growth of the market in the
region.
The North
American region is expected to witness robust growth in the paperboard
packaging market during the forecast period. This can be attributed to the
surging adoption of paper & paperboard packaging solutions in the region:
the growing food & beverage industry; the escalating need for proper
storage and transportation of food and beverage products; the growing online
shopping business, and the rising prevalence of major industry players in the
region. The U.S. stands as the leading contributor to the growth of the market
in the region.
Key
Companies in Paper & Paperboard Packaging Market:
·
ITC Ltd.
·
Cascades Inc.
·
International Paper
·
WestRock Company
·
Mondi Group
·
Nippon Paper Industries Co. Ltd.
·
Georgia-Pacific LLC
·
Spartan Paperboard Company
·
Stora Enso Oyj
·
Sonoco Products Company
·
Colbert Packaging
·
DS Smith
·
Amcor Ltd.
·
RockTenn Compan
·
Clearwater Paper Corporation
·
Packaging Corporation of America
·
DS Smith Plc.
·
Mondi Group
·
Metsa Group
· Other Players