New Delhi, May 11, 2023 (GLOBE NEWSWIRE) -- Global paper packaging materials market is flourishing due to an increasing in environment awareness and the demand for inexpensive packaging alternatives, such as bags, pouches, and cellulose; and the rapidly growing online shopping and delivery-on-demand services.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the size of global paper packaging materials market at USD 365.1 billion in 2021. During the forecast period between 2022 and 2028, BlueWeave expects the size of global paper packaging material market to grow at an impressive CAGR of 4.1% reaching a value of USD 488.3 billion by 2028. The global paper packaging materials market is expanding due to an increase in demand for paper packaging materials in pharmaceutical, cosmetics, and food and beverages industries. Increased paper production would also contribute to the growth of the paper packaging market. Rising environmental awareness among potential customers increased adoption of paper materials as sustainable packaging solutions, and strict government regulations to protect the environment are also major driving forces for the market growth. Technological intervention in paper recycling as well as increased government and producer emphasis on R&D initiatives are expected to provide growth opportunities for global paper packaging materials market. Paper packaging products are also used to give the package an esthetic look and contribute to the market growth.
Global Paper Packaging Materials Market – Overview
Key drivers for global paper packaging materials market are the expanding retail and e-commerce sectors, as well as the rising demand for products with environmentally friendly packaging. The demand for secondary and tertiary paper packaging products has grown significantly because of the quick expansion of online shopping platforms. Additionally, the market is growing because of consumers' growing awareness of sustainable packaging and the implementation of beneficial government policies. To reduce pollution and toxin levels in the environment, governments of various developed and developing countries are encouraging the use of paper-based products as an alternative to plastic. Another factor promoting growth is the globally expanding food and beverages industry. To preserve the nutrient content and maintain the quality of the food contents, food manufacturing companies are implementing food-grade paper packaging products.
The development of the paper packaging market is to be fueled by several additional factors, such as various product innovations to improve the effectiveness of the product and to create visually appealing variants. Growing innovations in paper packaging materials, as well as increased customization to meet the needs of customers or product-specific needs, create profitable opportunities for the market growth. The packaging of extremely heavy materials, which results in the industry being dominated by the polymers and metal packaging industries, creates challenges for the market's growth rate.
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Global Paper Packaging Material Market – Technology Advancements
Several end-use applications now call for environmentally friendly and sustainable packaging materials because of recent advancements in the packaging sector. This is a major factor influencing the market for paper packaging materials. Global paper packaging material market has segments, such as Corrugated Papers, Specialty Papers, Boxboard / Carton board, Kraft Papers, Molded Pulp based on material type; Corrugated Boxes, Wrapping paper, Inserts and Dividers, Bottles and Cup Carriers, Trays, Plates, Clamshells, Display Packaging, Bags and Sacks, Tapes and Labels based on packaging type; and Beverages, Fast Food, Frozen Food, Bakery Products, Tobacco Packaging, Healthcare Packaging, Personal Care and Cosmetics, Homecare and Toiletries, Electrical and Electronics, Industrial Packaging, E-Commerce Packaging, Chemical and Fertilizers based on application. The beverages segment is projected to dominate global paper packaging material market, accounting for most of the market share.
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Impact of COVID-19 on Global Paper Packaging Material Market
Amid the COVID-19 pandemic outbreak, manufacturers in the paper packaging materials market maintained optimal inventory levels to ensure a steady supply of products. Even though paper packaging has advantages such as sustainability and versatility, issues such as poor barrier properties and a slow anaerobic (oxygen-free) biodegradation rate in environments lacking oxygen, such as landfills, pose challenges for stakeholders in the value chain. As a result, manufacturers in the paper packaging materials market should increase the availability of water-soluble board stock that passes the ASTM D6868-11 testing method and qualifies as compostable in 40 days. They should also invest more in research and development of materials that have passed the international OECD 301B testing method, demonstrating that they biodegrade rapidly and completely in aquatic environments.
Competitive Landscape
Prominent players in global paper packaging material market include BillerudKorsnäs AB, DS Smith plc, Holmen AB, International Paper Company, Mayr-Melnhof Karton AG, Mondi Group plc, Napco National, Smurfit Kappa Group plc, Stora Enso Oyj, WestRock Company, Georgia-Pacific Corporation, Hood Packaging Corporation, OJI Holding Corporation, MeadWestvaco Corporation, Koch Industries, Georgia Pacific LLC, and Pratt Industries. These companies use various strategies, including increasing investments in their R&D activities, mergers and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in global paper packaging material market.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Global Paper Packaging Materials Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Global Paper Packaging Materials Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
Recent Development
- In August 2022 - Testronix launched next generation packaging testing instruments. Testronix is the leading testing instruments manufacturer in Asia and has recently launched high-end next-generation packaging testing instruments.
- In December 2021 - Iceland announced its plans to replace some of its plastic packaging with Mondi's functional barrier paper, which is recyclable in existing waste streams and has the same shelf life as its previous packaging.
Scope of the Report
| Attributes | Details |
| Years Considered | Historical Data – 2018–2021 |
| Base Year – 2021 | |
| Estimated Year – 2022 | |
| Forecast Period – 2022–2028 | |
| Facts Covered | Revenue in USD Billion |
| Market Coverage | North America (US, Canada), Europe (Germany, United Kingdom, Italy, France, Spain, The Netherlands, Belgium, Poland, Austria, Croatia, NORDIC Countries, Rest of Europe), Asia Pacific (China, India, Japan, South Korea, Australia & New Zealand, Malaysia, Singapore, Philippines, Thailand, Vietnam, Rest of Asia Pacific), Latin America (Brazil, Mexico, Argentina, Peru, Colombia, Rest of Latin America), Middle East and Africa (Saudi Arabia, UAE, Qatar, Kuwait, South Africa, Nigeria, Egypt, Morocco, Kenya, Algeria, Turkey, Rest of Middle East and Africa) |
| Product/ Service Segmentation | Material Type, Packaging Type, Packaging Level, Application, Region |
| Key Players | BillerudKorsnäs AB, DS Smith plc, Holmen AB, International Paper Company, Mayr-Melnhof Karton AG, Mondi Group plc, Napco National, Smurfit Kappa Group plc, Stora Enso Oyj, WestRock Company, Georgia-Pacific Corporation, Hood Packaging Corporation, OJI Holding Corporation, MeadWestvaco Corporation, Koch Industries, Georgia Pacific LLC, Pratt Industries. |
By Material Type
-
- Corrugated Papers
- Specialty Papers
- Boxboard / Carton board
- Kraft Papers
- Molded Pulp
By Packaging Type
-
- Corrugated Boxes
- Wrapping paper
- Inserts and Dividers
- Bottles and Cup Carriers
- Trays
- Plates
- Clamshells
- Display Packaging
- Bags and Sacks
- Tapes and Labels
By Packaging Level
-
- Primary Packaging
- Secondary Packaging
- Tertiary Packaging
By Application
-
- Beverages
- Fast Food
- Frozen Food
- Bakery Products
- Tobacco Packaging
- Healthcare Packaging
- Personal Care and Cosmetics
- Homecare and Toiletries
- Electrical and Electronics
- Industrial Packaging
- E-Commerce Packaging
- Chemical and Fertilizers
By Region
-
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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