Hyderabad, Aug. 09, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Saudi Arabia Paper and Paperboard Packaging Market Report (2023-2028)," the market is estimated at USD 2.20 billion in 2023. It is expected to register a CAGR of 4.20% during the forecast period.
Paper and paperboard are used for packaging various products in several end-user industries. Paperboard packaging is available in various grades. Paper packaging materials can be recycled and reused easily compared to other materials like metals and plastics.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 2.20 billion |
| Market Size (2028) | USD 2.70 billion |
| CAGR (2023-2028) | 4.20% |
| Study Period | 2018-2028 |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | The growing demand for sustainable packaging. |
| The ban on single-use plastic packaging. |
Who are the Top Companies in the Saudi Arabia Paper and Paperboard Packaging Market?
The market is semi-consolidated in nature, with various players operating. The presence of a large number of players is increasing the competitive rivalry in the market, which is expected to increase further during the forecast period.
Significant players in the Saudi Arabian paper and paperboard packaging market are,
- Gulf Carton Factory Company
- Eastern Pak Limited
- United Carton Industries Company (UCIC)
- Gulf East Paper & Plastic Industries LLC
- Obeikan Investment Group
- Napco National
- Middle East Paper Group
- Western Modern Packaging Co. Ltd
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Key Highlights from the Saudi Arabia Paper and Paperboard Packaging Market Report:
Demand for Folding Cartons to Drive the Market
- Folding cartons are growing in demand in industries like food and beverage, healthcare, and homecare due to their eco-friendly and sustainability benefits.
- Various cosmetic products are being packed in folding cartons in the region. Consumers are growing aware of the cost-effectiveness of folding cartons used for face creams, lipsticks, and perfumes, thereby increasing their demand.
Food and Beverage Industry to Register High Market Share
- Saudi Arabian consumers are placing a strong emphasis on health and are aware of the eco-friendly benefits of folding cartons, liquid cartons, and kraft papers. This and the expansion of food delivery services are increasing the demand for such packaging.
- The country’s beverage industry is also growing rapidly, thereby increasing the demand for liquid carton packaging used for juices and water.
What are the Latest Developments in the Saudi Arabia Paper and Paperboard Packaging Market?
- In February 2022, Tetra Pak co-invested more than EUR 11.5 million with recyclers to develop four new carton packaging solutions in Turkey, Saudi Arabia, Ukraine, and Australia.
- In February 2022, Arla Foods, a significant Saudi Arabian vendor in the F&B market, announced selecting Aseptic Food Filling Technology from SIG to provide premium quality, taste, and aroma to liquid food products.
Mordor Intelligence has Segmented the Saudi Arabia Paper and Paperboard Packaging Market Based on Type and End-user Vertical:
- By Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Folding Cartons
- Corrugated Boxes
- Other Types
- By End-user Vertical (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Food and Beverage
- Healthcare
- Personal Care and Household Care
- Industrial
- Other End-user Verticals
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Saudi Arabia Paper and Paperboard Packaging Market Report (2023-2028).
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About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
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