Paper & Paperboard Packaging Market 2022 - Market Size & Forecast, Industry Trends, Manufacturers Analysis, & Opportunities 2030

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