The paper and paperboard packaging market is witnessing increasing revenues worldwide. The market growth attributes to the rising environmental concerns and carbon footprints. Besides, the rising demand for environment-friendly and economical packaging solutions drives the growth of the market.
Paper & paperboard packaging offers durable packaging solutions that meet the customer/ product specific demand for customized packaging, protecting the freshness of produces enclosed for longer hours. Also, these packaging types offer sturdy options for sustainable packaging solutions.
The growing awareness of the advantages of paper & paperboard packagings, such as weather resistance and the ability to increase the shelf life of produces escalates the market's growth. According to Market Research Future (MRFR), the global paper & paperboard packaging market is estimated to grow at a phenomenal CAGR during the assessment period (2020-2027).
Paper & Paperboard Packaging Market – Segmentations
The report is segmented into types, grades, applications, and regions. The type segment is sub-segmented into corrugated boxes, boxboards, paper bags, and others. Among these, paper bags account for the largest market share due to the wide availability of many types in the market, such as sewn open mouth bags, pasted valve bags, pinch bottom open mouth bags, and multi-wall paper over poly.
The grade segment is sub-segmented into folding boxboard, solid bleached sulfate, white line chipboard, coated unbleached kraft board, and others. The application segment is sub-segmented into personal care, electronics, food & beverages, healthcare, and others. Among these, the food & beverage segment accounts for the largest market share, followed by personal care packaging.
The electronics sector is also a measurable application segment in the market, witnessing many new developments. The continuously growing demand for electronic products due to the increase in internet and mobile penetration. The region segment is sub-segmented into Americas, Europe, Asia Pacific, and the rest-of-the-world.
Paper & Paperboard Packaging Market – Geographical Analysis
Asia Pacific leads the global paper & paperboard packaging market due to the robust growth in the packaging business in the region. Besides, the largest market share attributes to the rising numbers of supermarkets and hypermarkets in the region. The massive demand for cardboard boxes from the online shopping sector drives the regional market growth. Moreover, the booming food & beverage & pharmaceutical industry increasing disposable income & changing lifestyles of demographics foster the market demand.
North America is the second-largest market for paper & paperboard packaging. The market growth is driven by the large and diverse food & beverage industry comprising multi‐tiered supply chains in the region. Additionally, increasing demand for paper board packaging for proper transportation and storage solutions in the warehouses for the food & beverage products stimulates the market's growth. The US is the major market for paper & paperboard packaging in the region due to the massive demand for online shopping.
Europe is showing positive growth in the paper & paperboard packaging market. Factors such as the increasing focus on sustainability and augmented demand for consumer-friendly, lightweight, and easily transportable products act as major growth drivers.
Furthermore, the spurring rise in personal care products, electronics, and healthcare products pushes the regional market growth. The rising demand from the foods & beverages and frozen foods industry influences the regional market growth.
Global Paper & Paperboard Packaging Market – Competitive Landscape
The market appears highly competitive due to several large and small players. Well-established players incorporate acquisition, collaboration, partnership, expansion, and product launch to gain a larger competitive share in this market and maintain their market position.
They compete based upon pricing and product & service. They strive to offer a customized product portfolio designed to meet specific customer objectives and a broad range of services, from assembly to packing, with state-of-the-art service centers.
Major Players
Leading Players in the paper & paperboard packaging market are ITC Ltd. (India), Cascades Inc. (Canada), Amcor Ltd. (Australia), Clearwater Paper Corporation (US), Packaging Corporation of America (US), RockTenn Company (US), Mondi Group (South Africa), Metsa Group (Finland), DS Smith Plc. (UK), Georgia-Pacific LLC (US), Spartan Paperboard Company (US), Nippon Paper Industries Co., Ltd. (Japan), Sonoco Products Company (US), Colbert Packaging (US), and Stora Enso Oyj (Finland), among others.
Industry/ Innovation/ Related News:
May 15, 2021 ---- Green Fin Investments BV, affiliate to the US-based private equity firm Warburg Pincus, announced the acquisition of a majority stake in a leading folding carton giant - Parksons Packaging (India). The investment in Parksons aligns with Warburg's strong, high-quality business it has built over the past two decades. The acquisition would further help the company strengthen its position in the leading paper packaging solutions market.
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