Paper Packaging Market

Analysis from GMI Research finds that the Paper Packaging Market earned revenues of USD 348.0 billion in 2022 and forecast to touch USD 483.6 billion in 2030 will grow at a CAGR of 4.2% from 2023-2030.

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Paper Packaging Market Outlook

Rise in consumer consciousness regarding sustainable packaging, as paper packaging materials can be easily reused and recycled compared to other packaging materials, which is a significant factor driving the market. Increasing demand for cheap alternates for flexible packaging materials accounts for surging demand for the global paper packaging market. Furthermore, the growing paper production is expected to serve as the key driver of the market. For instance, the rise in paperboard growth rate fast-tracked to 2.3% in 2017 from 0.7% during 2016, primarily driven by economic and population growth. Furthermore, the rise in demand for eco-friendly packaging across the nations is due to the growing awareness among the population which further surges the market growth. For instance, in 2017, China proposed a ban on single-use plastic, which will be fully implemented by the end of 2022, thus leading to the adoption of paper packaging products. Canada has implemented zero plastic waste (passed in 2018), and the U.S. has launched the single-use bill to reduce single-use packaging. All these strategic initiatives by governmental bodies worldwide have led to the rapid adoption of paper packaging by following trends.

Restraint in the Paper Packaging Market

The paper packaging industry is facing a steep downfall due to the stringent guidelines regarding deforestation across the nations. Unfavourable regulations are expected to create a hindrance in the growth of the market. For instance, national forest policy for society needs to be followed to prevent climate change, agricultural impacts, etc.

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Product – Segment Analysis

Based on the Product, liquid packaging cartons is expected to dominate the segment over the forecast period. Liquid cartons are used majorly for packaging of milk and other beverages, thus driving the growth of the liquid package segment. For instance, rise in the number of millennials across the globe, which is projected to reach at 74.9 million by the end of 2033. The increasing number of millennials will surge the demand for milk, thus leading to more demand for paper packaging in milk and other beverages. Products are differentiated based on applications, like liquid cartons for beverages, corrugated cases for transportation etc., which are becoming common among packaging manufacturers. Therefore, with the surge in the number of applications, the product’s demand will increase over the forecast period.

Application – Segment Analysis

Based on the Application, beverages segment is expected to dominate the market over the forecast period. Increasing preferences for product portfolio functional foods, along with the easy availability of the products is aiding the segment growth. Expansion of organic beverage industries along with the rising health concern are further contributing towards the healthy growth of the market size.

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Regional – Segment Analysis:

Based on the region, Asia Pacific is witnessed to dominate the global paper packaging market. Expanding number of production industries across the region is driving the growth of the market. For instance, China’s manufacturing industry in 2019 was valued at US$ 3,896 billion, which has 0.72% growth from the fiscal year 2018. Rising living standards along with increasing disposable income can also be attributed to the region’s consistent dominance over the market. Due to the strong demand for paper packaging products in countries like China and Japan, the region is benefitted thoroughly. For instance, in Japan, the central government’s subcommittee claimed to reduce plastic reduction by using paper packaging. Thus, the demand for paper packaging products is expected to propel the growth of the global paper packaging market.

Top Market Players

Various notable players operating in the market include DS Smith, Georgia-Pacific, Holmen, Hood Packaging Corporation, International Paper, MeadWestvaco Corporation, Oji Holdings Corporation, Smurfit Kappa, Stora Enso Oyj, and Mayr-Melnhof Karton AG, among others. 

Key Developments:

• • In 2019, International Paper agrees to acquire two packaging business of DS Smith, which is one of the leading companies in paper and pulp. This acquisition helped in expanding the product portfolio of the group and thus company generated more revenue from the business line.

Segments covered in the Report:

The global paper packaging market has been segmented on the basis of product, application, and regions. Based on product, the market is segmented into liquid packaging cartons, corrugated cases, cartons & folding cases and others. Based on application, the market is segmented beverages, fast food, fresh food, dairy and bakery, frozen foods and others. 

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Key questions answered in this research report:

• • At what pace is global paper packaging market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in paper packaging market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global paper packaging market?
  • Which product generated maximum revenues in 2022 and identify the most promising product during the forecast period?
  • What are the various application areas of global paper packaging market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Paper Packaging Market by Product

• • Liquid Packaging Cartons
  • Corrugated Cases
  • Carton and Folding Cases
  • Others

Global Paper Packaging Market by Application

• • Beverages
  • Fast Foods
  • Fresh Foods
  • Dairy & Bakery
  • Frozen Foods
  • Others

Global Paper Packaging Market by Region

• • North America Paper Packaging Market (Option 1: As a part of the free 25% customization)
    • By Product
    • By Application
    • US Market All-Up
    • Canada Market All-Up
  • Europe Paper Packaging Market (Option 2: As a part of the free 25% customization)
    • By Product
    • By Application
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Paper Packaging Market (Option 3: As a part of the free 25% customization)
    • By Product
    • By Application
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Paper Packaging Market (Option 4: As a part of the free 25% customization)
    • By Product
    • By Application
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Paper Packaging (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • DS Smith
  • Georgia-Pacific
  • Holmen
  • Hood Packaging Corporation
  • International Paper
  • MeadWestvaco Corporation
  • Oji Holdings Corporation
  • Smurfit Kappa
  • Stora Enso Oyj
  • Mayr-Melnhof Karton AG