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Paper Packaging Market Analysis Forecast Report 2024-2032

June 28, 2024 | by Shunmarsh

Paper Packaging Market (1)

Global Paper Packaging Market Analysis

The global Paper Packaging Market, a thriving industry, was valued at a substantial US$367.8 billion in 2023. It is poised to make a significant leap, projected to reach USD 541.0 billion by 2032, with a robust compound annual growth rate (CAGR) of 4.38% from 2024 to 2032.

Paper packaging is an essential and adaptable solution that serves as the industry’s foundation. Its versatility allows for customization to accommodate consumer preferences and specific product demands. The lightweight, biodegradable, and recyclable nature of paper packaging makes it a vital component in the industry. The increasing consumer, government, and media focus on eco-friendly products, packaging, and manufacturing practices emphasizes the significance of paper packaging in today’s market.

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Driving Factor of the Paper Packaging Market

The increasing popularity of online food deliveries: The use of paper packaging in the market is steadily increasing, largely due to the surge in online food delivery services that are opting for eco-friendly packaging solutions. There is a rising demand for packaging made from paper due to the emphasis that both companies and consumers are placing on using materials that can be recycled, are biodegradable, and come from renewable sources. The food and beverage industry is a prime example of this shift, moving away from single-use plastics and towards paper-based options. This change has been sparked by a growing awareness of the detrimental effects of plastic pollution on the environment and is a major factor contributing to the expansion of the market.

Rising E-commerce demand for packaging: The market for folded carton packaging is seeing a rise in demand due to the increasing popularity of e-commerce sales. However, the marketplace may face restrictions in growth due to the availability of high-performance alternative materials. Paperboard packaging, which is an environmentally friendly option, is versatile and can be manufactured in various sizes while taking up minimal space, making it suitable for a wide range of end-user industries. Furthermore, the Indian e-commerce sector is projected to witness substantial growth, with expectations that it will reach $200 billion by 2026, compared to $38.5 billion in 2017.

Ability to Recycle: The use of pulp in paper packaging offers a significant advantage in that it is highly recyclable, contributing to a more sustainable and eco-friendly approach to packaging. When paper products are recycled, it helps to reduce the demand for raw materials, minimizes waste, and conserves energy. This not only has positive impacts on the environment but also supports the concept of a circular economy. Furthermore, the recyclability of pulp in paper packaging is in line with the increasing consumer preference for environmentally responsible products, creating a win-win situation for both businesses and the planet. Recycling helps to reduce the need for solid waste disposal and minimizes the amount of packaging waste in landfills. This is essential for the growth of the marketplace as it promotes sustainability and helps to preserve valuable landfill space, contributing to a healthier environment.

Asia Pacific Paper Packaging Market

The Asia-Pacific market is expected to grow significantly due to the transit packaging sector, increased consumer expenditure, and expanding manufacturing hubs. The rapid development of Asian nations such as India and China, which are increasingly reliant on paper pulp, is a major driving force behind this trend. The Indian Paper Manufacturers Association forecasts that by the fiscal year 2026–2027, India’s paper consumption will have risen by 6–7% annually to reach 30 million tons. It is anticipated that the surge in organized retail trade and the growing emphasis on literacy and education will be the primary catalysts for this expansion. China’s varied economy has led to a wide range of packaging opportunities across various sectors such as food, beverages, healthcare, and consumer goods. According to data from the National Bureau of Statistics of China, the production of processed paper and cardboard has seen a significant increase in response to rising demand. By January and February 2024, the total production volume of processed paper and cardboard in China had reached approximately 22.42 million metric tons, marking a notable surge from 12.25 million metric tons 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.

Product Type – Global Paper Packaging Market breakup in 5 viewpoints:

  1. Corrugated Boxes
  2. Folding Boxes and Cases
  3. Liquid Paperboard Cartons
  4. Paper Bags and Sacks
  5. Others

End Use – Global Paper Packaging Market breakup in 8 viewpoints:

  1. Food & Beverage
  2. E-Commerce
  3. Electrical & Electronic
  4. Home Care
  5. Personal Care & Cosmetic
  6. Automotive & Industrial
  7. Healthcare
  8. Others

Country – Global Paper Packaging Market breakup in 25 viewpoints:

North America

1.         United States

2.         Canada

  Europe

1.         France

2.         Germany

3.         Italy

4.         Spain

5.         United Kingdom

6.         Belgium

7.         the Netherlands

8.         Turkey

Asia Pacific

1.         China

2.         Japan

3.         India

4.         Australia

5.         South Korea

6.         Thailand

7.         Malaysia

8.         Indonesia

9.         New Zealand

Latin America

1.         Brazil

2.         Mexico

3.         Argentina

Middle East & Africa

1.         South Africa

2.         Saudi Arabia

3.         United Arab Emirates

All the Key players have been covered from 4 Viewpoints:

  • Overview
  • Recent Development & Strategies
  • Product Portfolio & Product Launch in Last 1 Year
  • Revenue

Company Analysis:

  1. Amcor
  2. DS Smith PLC 
  3. Pactiv Evergreen Inc.
  4. WestRock Company
  5. Mondi Group Plc
  6. Smurfit Kappa
  7. Mayr-Melnhof Karton AG
  8. Billerud
  9. Stora Enso Oyj
  10. Rengo Co. Ltd.

About the Company:

Renub Research is a Market Research and Information Analysis company with more than 15 years of experience in Research, Survey, and Consulting. Our research helps companies to take business decisions: on strategy, organization, operations, technology, mergers & acquisitions, etc. Till now we have published more than 9000 syndicated reports and worked on more than 750 custom research projects. Currently, we are supplying data to EMIS, Bloomberg, Thomson Reuters, etc. We support many blue-chip companies by providing them with findings and perspectives across a wide range of markets.

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