New York (US), June 15, 2023 (GLOBE NEWSWIRE) -- Paper Packaging Market Overview
The research documents by MRFR indicate that the “Paper Packaging Market Research Report Information by Type, End User Industry, Region, and Level of Packaging - Forecast Till 2030”, the Paper packaging market is predicted to grow substantially over the assessment timeframe from 2022 to 2030 at a healthy CAGR of around 5.20%. which will likely reach a market of USD 492785.58 million by the end of 2030
The primary aspect causing a surge in the performance of the market is the rising adoption of containerboard across the globe.
Competitive Analysis
The catalog of the top leaders across the global Market for Paper packaging includes players such as:
- International Paper Company (U.S.)
- WestRock Company (U.S.)
- Mondi Group (U.K.)
- Packaging Corporation of America (U.S.)
- Smurfit Kappa Group (Ireland)
- Cascades Inc. (Canada)
- DS Smith PLC (U.K.)
- Nippon Paper Industries Ltd. (Japan)
- Among others.
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Report Scope:
| Report Attribute | Details |
| Market Size 2030 | USD 492785.58 million |
| Compound Annual Growth Rate (CAGR) | 5.20 % (2022-2030) |
| Base Year | 2021 |
| Market Forecast Period | 2022-2030 |
| Historical Data | 2018 & 2020 |
| Forecast Units | Value (USD billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Dynamics | Positive impact on environment Rising government initiatives |
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Market USP Covered
Market Drivers
The global Paper packaging industry has advanced enormously in recent years. The primary aspect causing a surge in the performance of the market is the rising adoption of containerboard across the globe. Furthermore, the increased emphasis on e-commerce will likely impact the market's growth positively. Moreover, the factors such as a significant decrease in services spending, an improving service outlook, sluggish manufacturing, and increased opposition to single-use plastics are also projected to boost the market's growth over the coming years.
Market Restraints
However, some aspects may limit the market's performance. The main aspect limiting the market's development is the high costs linked.
COVID-19 Impact
The global health hazard of COVID-19 has impacted most industry operations in the last few years. The health emergency affected the industry operations and tremendously impacted public health in nearly 225 nations. The Paper packaging industry was no exception to this. The supply chain disruptions and partial or complete lockdowns around various regions worldwide led to several disruptions in market operations. However, with the rapid recovery of the global economy, the market is predicted to showcase substantial development over the review era.
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Segment Analysis
Among all the types, the corrugated paper packaging segment secured the leading position across the global market for paper packaging in 2021, with the largest share of around 50-55%. In comparison with standard cardboard boxes, corrugated boxes are more robust. They provide a sturdy cushion for any goods they transport throughout shipping and handling. The size of corrugated cardboard can differ based on its thickness and size.
Among all the Level of Packaging types, the primary packaging segment secured the leading position across the global market for paper packaging in 2021. The pharmaceutical, food & beverage, household care, and personal care industries' escalating demand for primary packaging is anticipated to boost the worldwide packaging industry. Therefore, the increasing primary packaging applications positively impact the market growth.
Among all the end-use sectors, the food & beverage segment secured the leading position across the global market for paper packaging in 2021. Paper packaging is becoming more famous as the demand for frozen and fast-food increases, and suitable packaging is needed. On the other hand, the pharmaceutical segment is anticipated to showcase the maximum growth rate over the coming years given the rising health awareness, increased awareness of the environmental impact of old packaging, rising life expectancy, and rise in population.
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Regional Analysis
The Global Market for Paper packaging is analyzed across five major parts: Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa.
The research documents by MRFR indicate that the Asia-pacific Region carried the top position across the global Paper packaging industry in 2021 with the largest contribution of nearly USD 138297.45 million. The regional market is predicted to showcase a substantial growth rate of around 42.10% over the assessment era. India, China, and Indonesia are the leading development contributors in the Region. Further, the China Paper Packaging Market held the largest market share, and India was the fastest-growing market in the Asia-pacific Region. The main aspect supporting regional market expansion is the growing presence of manufacturers. Furthermore, the rising number of government initiatives for protecting the environment across the Region is also considered to be one of the vital aspects enhancing the growth of the regional market.
The North American is anticipated to hold the second position across the global Paper packaging industry over the coming years. The Region has Mexico, Canada, and the U.S. as the leading development contributors. Further, the U.S. Paper packaging Market held the largest market share, and Canada was the fastest-growing North American Region. The main aspect supporting regional market expansion is the area's booming food and beverage and healthcare sectors. More than 74 million metric tonnes of paper and paperboard were ingested in the Region in 2018, as per the UNECE and FAO.
The European Region is anticipated to secure substantial growth across the global Paper packaging industry over the coming years. The Region has France, Germany, and the U.K. as the leading development contributors. Further, the German Paper packaging Market held the largest market share, and the U.K. was the fastest-growing Market in Europe. Germany had the greatest e-commerce consumer base, with 62.1 million online buyers. The main aspect supporting regional market expansion is the escalating demand for recyclable and environmentally friendly packaging choices.
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