Paper Packaging Market And Forecast : Report 2024-2032

As per the Renub Research latest report by titled "Paper Packaging Market Report by Product Type (Corrugated Boxes, Folding Boxes and Cases, Liquid Paperboard Cartons, Paper Bags and Sacks, and Others), End Use (Food & Beverage, E-Commerce, Electrical & Electronic, Home Care, Personal Care & Cosmetic, Automotive & Industrial, Healthcare, and Others), Regions and Company Analysis 2024-2032" the Paper Packaging Market size is projected to be USD 367.8 Billion in 2023 and is projected to increase at a CAGR of 4.38% (2024-2032) to reach USD 541.0 Billion by 2032. Worldwide, paper is considered one of the most environmentally friendly materials available. Paper packaging materials can be easily recycled and reused compared to other materials like plastics and metals. This is why paper packaging is the most eco-friendly and economical form of packaging. Paper packaging is a cost-efficient and versatile method to preserve, protect, and transport a broad range of products. Additionally, it can be customized to meet the customers' demands or product-specific needs. The attributes like biodegradability, lightweight, and recyclability are the advantages of paper packaging, making it a vital component for packaging.

Notwithstanding, the rising consumer consciousness regarding sustainable packaging and the strict rules imposed by various environmental protection agencies (about the usage of environment-friendly packaging products) are driving factors for the paper packaging market. Further, a shift has been seen from plastic to more paper use in the packaging industry. The rising need for sustainable and recycled packaging for healthcare, food, and personal & homecare applications will further drive the paper & paperboard packaging market.

COVID-19 Impact on Paper Packaging Industry:

Consumer habits changed significantly during the COVID-19 pandemic concerning the packaging industry. Home delivery of food and consumer products boosted the demand for paper packaging containers and cartons. Consumers worldwide are increasingly inclined to purchase their products through different channels from those they used before the pandemic, leading to a substantial acceleration of e-commerce shipments and other home-delivery services.

Furthermore, growth in food packaging and ever-increasing demand for corrugated packages in growing e-commerce shipments are the primary drivers that resulted from the COVID-19 outbreak. In e-commerce portals, demand has sharply raised for packaging healthcare products, groceries, and e-commerce shipments. At the same time, demand for luxury, industrial, and some B2B-transport packaging has decreased.

Liquid Packaging cartons hold a majority of the market:

Based on product paper packaging market includes corrugated cases, liquid packaging cartons, cartons, folding boxes, and others. Liquid packaging cartons are the most extensive paper packaging materials product segment due to their comprehensive milk and juice box packaging usage. With increasing use in retail packaging due to progress in design innovation, the demand for corrugated cases is anticipated to drive product demand.

Nonetheless, corrugated cases, which are highly reusable, durable, recyclable, and lightweight, are anticipated to witness rapid growth, boosting the market growth of paper packaging. The demand for cartons and folding boxes will show significant growth over the next few years due to its growing demand for decorative and bulk packaging.

Food and Beverage expected to hold considerable market share:

On the basis of end-users, paper packaging is the main asset of the food industry. It is environment-friendly and raises the convenience for buyers. Due to this, there is effective competition in the food industry among the players who provide quality products to the customers. Various packaging materials in the paper packaging market are available to fulfill the various packaging needs, like cardboard boxes and corrugated boxes.

Apart from this, there is fierce competition among the quality-product providers in the food industry. Due to these reasons, various manufacturers in the food market are constantly making and delivering high-quality products. Besides, many retail stores use packaging materials for preserving food and maintaining the nutritional value of foods. Further, with the increase in consumers purchasing grocery items (like chilled foods and frozen), the paper packaging market will witness growth.

Asia-Pacific is the largest market for Paper packaging:

Geographically, the Asia Pacific market delivers the fastest growth for paper packaging. The paper packaging market in the Asia Pacific is driven by the demand from China, India, and Japan. In recent years, the increased raw materials prices have promoted recycling in the region, mainly in the E-commerce industry. With increasing internet and mobile penetration in countries like China, India, and Indonesia, the E-commerce industry is likely to stay ahead of others in demand for folding carton packaging.

Similarly, campaigns like Make in India and the preparations for Tokyo Olympics have marginally expanded the opportunities for the folding carton packaging industry in the region. With the constant development in the region forecasted by the World Bank shortly, Asia Pacific is to occur as a hot spot for folding carton packaging solutions.

Competitive Landscape:

The paper packaging market is fragmented into players like Amcor Ltd, Mondi Group, Smurfit Kappa Group, DS Smith PLC, HolmenWestRock Inc., International Paper Company Inc., Packaging Corporation of America.

The Asia Pacific air conditioner market has a market value of US$ 88.85 and it is projected to reach US$142.89 billion by 2032 expanding at a CAGR of 5.42 percent from 2024 to 2032.

Global Soup Market is predicted to reach US$ 25.17 Billion by 2032, according to Renub Research

Market Summary:

· Product - Renub Research Report covers by product in the 4 viewpoints (Liquid Packaging cartons, corrugated cases, Carton and Folding boxes, and others)

· Region - This Report covers by Region in the 4 viewpoints (North America, Europe, Asia- Pacific, and ROW)

· End Use - Paper Packaging Market has been covered from 5 viewpoints (Food, Beverage, Healthcare, Personal and Homecare, and Others)

· All the major players have been covered from 3 Viewpoints (Overview, Recent Development, and Revenue Analysis) Amcor Ltd, Mondi Group, Smurfit Kappa Group, DS Smith PLC, HolmenWestRock Inc., International Paper Company Inc., Packaging Corporation of America.

About the Company:

Renub Research is a Market Research and Consulting Company. We have more than 14 years of experience especially in international Business-to-Business Researches, Surveys and Consulting. We provide a wide range of business research solutions that helps companies in making better business decisions. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. Our wide clientele comprises major players in Healthcare, Travel and Tourism, Food Beverages, Power Energy, Information Technology, Telecom Internet, Chemical, Logistics Automotive, Consumer Goods Retail, Building, and Construction, Agriculture. Our core team is comprised of experienced people holding graduate, postgraduate, and Ph.D. degrees in Finance, Marketing, Human Resource, Bio-Technology, Medicine, Information Technology, Environmental Science, and many more.