Dublin, July 12, 2024 (GLOBE NEWSWIRE) -- The "Paper Packaging Market Report by Product Type, End Use, Regions and Company Analysis 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The Paper Packaging Market reached US$ 367.8 billion in 2023 and is set to reach USD 54 billion by 2032, with a CAGR of 4.38% from 2024 to 2032.
The market share of paper packaging is growing because of the rise in online food deliveries, which prioritize green packaging alternatives. Paper based packaging solutions are increasingly in demand as companies and purchasers place a top priority on recyclable, biodegradable, and renewable packaging substances. The food and beverage industry have witnessed a transition from single-use plastics to paper-based alternatives because of the increased consciousness of plastic pollution and its environmental consequences. This move is riding the marketplace's growth.
The growth of E-trade sales and the growing demand for folded carton packaging are driving the marketplace. However, the supply of high-performance substitutes is likely to restrain its growth. Paperboard packaging is an environmentally pleasant alternative that can be synthetic in numerous sizes with a small footprint, making it appropriate for almost all give-up-consumer sectors.
The recyclability of pulp utilized in paper packaging is an enormous benefit. Recycling reduces the need for strong waste disposal and minimizes the quantity of packaging waste in landfills. This practice is crucial for the marketplace's growth because it promotes sustainability and saves valuable landfill space, contributing to a more fit environment.
Asia Pacific Paper Packaging Market
The Asia-Pacific marketplace, set to expand extensively, is propelled by the transit packaging area, extended customer spending, and burgeoning manufacturing centers. The speedy growth of Asian international locations, along with India and China, which rely increasingly more on paper pulp, is an essential driving force behind this trajectory. The Indian Paper Manufacturers Association projects that through the financial year 2026-2027, India's paper consumption can have multiplied by 6-7% annually to 30 million tons. It is predicted that the upward push in prepared retail commerce and the increased cognizance of literacy and schooling might be the number-one drivers of this growth.
Due to its diverse economies, China offers numerous packaging possibilities across unique industries, including meals, beverages, healthcare, and consumer items. Data from the National Bureau of Statistics of China suggests that processed paper and cardboard manufacturing has accelerated in response to the growing demand. The cumulative production extent of processed paper and cardboard in China reached about 22.42 million metric tons in January and February 2024, up from 12.25 million in August 2023.
Paper Packaging Market Company Overview:
Some of the market leaders within the Global Paper Packaging Market include Amcor, DS Smith PLC, Pactiv Evergreen Inc., WestRock Company, Mondi Group Plc, Smurfit Kappa, Mayr-Melnhof Karton AG, Billerud, Stora Enso Oyj, and Rengo Co. Ltd.
Paper Packaging Market News:
- March 2024 - Sealed Air has advanced a brand-new paper backside web to meet the demand for paper packaging. The barrier-formable paper includes 90% FSC-licensed fibers and can reduce plastic usage by 77% compared to PET/PE bottom web packaging.
- January 2024: ITC Sunfeast Farmlite added the Sunfeast Farmlite Digestive Biscuit Family with 100% outer paper packaging, making it the primary of its type. The paper packaging is both cute and person-friendly.
- In September 2023, ProAmpac delivered the patent-pending ProAactive Recyclable RP-1000 High Barrier Paper based generation. This era is ideal for dry food objects like sweets, dehydrated fruit, and flavored oatmeal due to its robust moisture barrier and grease resistance.
- September 2023: In the United Kingdom, Mondi and Veetee delivered the primary dry rice bundle made from recyclable functional barrier paper, replacing plastic packaging.
- May 2023: Mars launched a recycled paper packaging initiative inside the UK, with Tesco wearing the brand new paper-wrapped Mars bars for a constrained time. This pass will considerably lessen plastic waste related to Mars bars, marking a promising development in sustainable packaging.
- April 2023: M&S introduced a new recyclable rice and grain packing solution with paper box and bag designs. Customers can recycle each style at home. The paper based bags have a thin layer of plastic to keep meals quantity.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 220 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $367.8 Billion |
| Forecasted Market Value (USD) by 2032 | $541 Billion |
| Compound Annual Growth Rate | 4.3% |
| Regions Covered | Global |
Report Scope:
Product Type:
- Corrugated Boxes
- Folding Boxes and Cases
- Liquid Paperboard Cartons
- Paper Bags and Sacks
- Others
End Use:
- Food & Beverage
- E-Commerce
- Electrical & Electronic
- Home Care
- Personal Care & Cosmetic
- Automotive & Industrial
- Healthcare
- Others
Country:
- North America
- United States
- Canada
- Europe
- France
- Germany
- Italy
- Spain
- United Kingdom
- Belgium
- Netherlands
- Turkey
- Asia Pacific
- China
- Japan
- India
- South Korea
- Thailand
- Malaysia
- Indonesia
- Australia
- New Zealand
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
Company Analysis:
- Amcor
- DS Smith
- Pactiv Evergreen Inc.
- WestRock Company
- Mondi Group Plc
- Smurfit Kappa
- Mayr-Melnhof Karton AG
- Billerud
- Stora Enso Oyj
- Rengo Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/fijt
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