The global paper and paperboard packaging market was valued at USD 273 billion in 2018 and is anticipated to grow at a CAGR of 5.5% during the forecast period. Paper packaging is an effective method of transporting, protecting, and preserving a wide range of products. Paper based packaging originates from a paper or board mill where the paper or board is transformed into rolls or sheets. Paper packaging is used for protection of goods while in transit, storage and distribution. Use of paper packaging also protects and extends shelf life of products from breakage, spoilage and contamination. Paper packaging is a light weight, sturdy, and customizable method of shipping and transporting goods such as electronics, fragile glassware, perishable goods, food, medicine, and toiletries among others. Use of efficient paper packaging resulted in product damage of below 5% in developed economies, and around 30% in developing nations in 2017. The Paper and Paperboard Packaging market growth is driven by the significant growth in e-commerce and rising consumer demand for convenience and green products.
The Paper and Paperboard Packaging market is influenced by improved economic conditions, demographic and socio-economic changes, and environmental concerns. Factors such as growing urbanization world, ageing population in developed countries, and an emerging middle class in developing economies heavily impacts the growth of the Paper and Paperboard Packaging market growth. Digitalization and the ongoing development of new retail channels have also fostered the need for efficient and cost-effective packaging, especially for e-commerce. The growth in packaging consumption and increasing awareness among consumer has encouraged packaging producers to develop more sustainable solutions, thereby improving the Paper and Paperboard Packaging market growth rate. The increasing focus on sustainable packaging solutions and growing need for eco-friendly packaging has increased the growth of the Paper and Paperboard Packaging market. Sustainability has become a key focus area for efficient packaging solutions. The significant increase in packaging waste across the globe necessitates the use of recyclable packaging material along with mechanisms for collecting the packaging waste.
Asia-Pacific Paper and Paperboard Packaging Market Share By Type, 2017 & 2026
Know more about this report: request for sample pages
The global Paper and Paperboard Packaging market is segmented on the basis of type, grade, end-user, and region. The Paper and Paperboard Packaging market report segments the type into containerboard, cartonboard, flexible paper, and others. The containerboard segment accounted for the highest Paper and Paperboard Packaging market share in 2018. Containerboard or Corrugated box is a durable, versatile, low and lightweight paper-based material used to make boxes, containers, and displays for packaging. The increasing demand for corrugated boxes for carrying and transporting heavier products such as appliances, electronic goods, wine, fruit and vegetables, along with increasing adoption of e-commerce drives the growth of this segment.
The grade segment is categorized into unbleached kraft paperboard, bleached paperboard, recycled paperboard, and others. The unbleached kraft paperboard segment dominated the global Paper and Paperboard Packaging market in 2018 owing to increasing applications in industrial purposes, frozen food packaging, beverage cartons and carriers, and pharmaceutical packaging. Brand owners are using this paper grade to optimize packaging operations, increase productivity, improve overall efficiency, and create brand differentiation to increase their Paper and Paperboard Packaging market share.
The end-user segment is divided into food and beverage, healthcare, retail, consumer goods, and others. The food and beverage segment accounted for the highest Paper and Paperboard Packaging market share in 2018. The increasing demand for street food, healthy snacks, and quick breakfasts has led to the rise in popularity of single-serve snacks packaged for on-the-go consumption. Brands operating in this segment are focusing on offering sustainable packaging solutions which are easy to open and reclose, smaller in size, easy to carry.
Asia-Pacific Paper and Paperboard Packaging Market, By Type, 2017 - 2026
Know more about this report: request for sample pages
This report comprises a detailed geographic analysis of the Paper and Paperboard Packaging market across North America, Europe, Asia-Pacific, Latin America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific. Asia-Pacific is the major region contributing to the Paper and Paperboard Packaging market growth due to increasing environmental concerns, and adoption of stringent regulations regarding use of plastic and other non-recyclable packaging materials. Moreover, concerns about rising pollution level caused by non-recyclable and non-biodegradable packaging solutions have accelerated the growth of the Paper and Paperboard Packaging market in this region.
The leading players in the Paper and Paperboard Packaging market include International Paper Company, Nippon Paper Group Inc., DS Smith Plc, Mondi Group, Georgia-Pacific Corporation, Amcor Limited, WestRock Company, Clearwater Paper Corporation, ITC Limited, and Tetra Pak among others. These leading players are introducing innovative products in the Paper and Paperboard Packaging market to cater to the growing demand for consumers. Global players are entering new markets in developing regions to expand their customer base, strengthen market presence, and increase their Paper and Paperboard Packaging market share.