Paper Packaging Market Size was valued at USD 328497.5 million in 2021 and is projected to reach USD 492785.58 million by 2030, exhibiting a compound annual growth rate (CAGR) of 5.20% during the forecast period (2022 – 2030).
Containerboard had the largest paper packaging market in 2020 because of its role in producing and distributing necessities and the growing importance of e-commerce. Even though some carton board grades associated with packaged goods performed well, many other paper packaging grades suffered from the huge fall in services spending. Strong demand recovery spread across all grades in 2021, driven by the continued strength of the containerboard market dynamics and a brighter future for services. The spectacular e-commerce performance of 2020–21, which in turn increased demand for paper packaging, has increased the significance of this dynamic sector’s contribution to raising the rise of containerboard demand.
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Corrugated boxes, boxboard or paperboard cartons, paper bags and sacks, and paper pouches are among the market segments for paper packaging that are broken down based on type. In 2021, the segment of corrugated paper packaging held a lion’s share, accounting for roughly 50–55% of market revenue. Corrugated boxes are more durable than regular cardboard boxes. For any products they are conveying throughout shipping and handling, they act as a reliable cushion. The thickness and size of corrugated cardboard might affect its size.
Regional Insights
The analysis offers market insights for North America, Europe, Asia-Pacific, and the rest of the world, by region. In 2021, the Asia Pacific market had a value of USD 138297.45 million, and over the study period, it is anticipated to increase at a CAGR of 42.10%. This is explained by the expanding presence of manufacturers in the area and the expansion of government activities to safeguard the environment.
The United States, Canada, Germany, France, the United Kingdom, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil are other significant nations covered in the market analysis.
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Market Segmentation
Primary, secondary, and tertiary packaging levels are used to segment the paper packaging market. The primary packaging segment dominated the market in 2021 and is anticipated to grow at the fastest rate from 2022 to 2030. The growing need for primary packaging in the pharmaceutical, personal care, household care, and food and beverage industries is predicted to drive growth in the global packaging market. Therefore, expanding primary packaging applications have a favourable effect on market expansion.
One of the three types of packaging used to protect manufactured goods for shipping or storage is tertiary packing. It is used to protect both the product’s secondary and primary packaging. Customers hardly ever notice secondary packaging because it is typically removed by retailers before items are placed on sale.Tertiary packaging is the second fastest-growing market category for paper packaging as a result of the aforementioned considerations.
Industry insights for end users of paper packaging
Food & beverage, healthcare, and personal & home care are the segments into which the paper packaging market data has been broken down. The market was dominated by the food and beverage segment in 2021, and it is anticipated that this segment will grow at the fastest rate from 2022 to 2030. As the demand for frozen and fast food increases and more suitable packaging is required, paper packaging is growing in popularity.
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According to the end-user industry, the pharmaceutical section of the market is the second fastest-growing segment. The segment is being pushed by the increase in population, the increase in life expectancy, the increase in health consciousness, the increasing awareness of the environmental impact of old packaging, and the transition to new packaging standards.
Key Players
International Paper Company (US), Mondi Group (UK), Smurfit Kappa Group (Ireland), DS Smith PLC (UK), WestRock Company (US), Packaging Corporation of America (US), Cascades Inc. (Canada), and Nippon Paper Industries Ltd. (Japan)
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Contact:
Market Research Future®
99 Hudson Street,5Th Floor
New York, New York 10013
United States of America
Phone: +1 628 258 0071(US) +44 2035 002 764(UK)
Email: sales@marketresearchfuture.com
Website: https://www.marketresearchfuture.com
