Paper & Paperboard Packaging Market

Paper & Paperboard Packaging Market Size, Share, Growth (2023-2028)

Paper & Paperboard Packaging Market is projected to grow with a CAGR of 3.5% during the forecast period 2023 - 2028

Paper & Paperboard Packaging Market Overview:

Paper and paperboard are made from wood pulp specifically. There is no notable difference between paper and paperboard other than that the size of paperboard compared to paper is thick. Paperboard is paper that is either single or multilayer. Paper and paperboard packaging is an ongoing trend in packaging that is attracting customers because of its successful food and beverage, medical, manufacturing, personal care, and other industries solutions. Changing people's lifestyle plays an important role in increasing the demand for creative and convenient packaging features.

Recent Developments

• India's first FMCG chocolate bar that was infused with Ruby chocolate was launched by ITC Ltd.'s Fabelle.

• Metsa Spring has collaborated with Valmet for developing a new wood-based 3D product.

• Mondi, an international packaging and paper group, has joined with Cartro for producing a sustainable avocado packaging solution.

Paper & Paperboard Packaging Market Drivers

Due to rising awareness about the ill-effects for using non-biodegradable materials and increasing concern about the environment, consumers are increasingly opting for eco-friendly packaging solutions, driving the global paper & paperboard packaging market.Demand for paper and paperboard packaging solutions from various industries such as footwear, electronics, cosmetics, food industries, healthcare, clothing, and others is anticipated to fuel the market growth during the forecast period.Also, the packaging that is used in education and stationery, freight & carrier, and construction fields coupled with cardboard boxes, cartons, and packaging labels which are made from paper and paperboards are expected to foster the global market boom. Increased focus of many companies on providing better packaging solutions to fit consumer requirements and the increased online shopping & disposal income are other factors that are driving the growth of the global pa-per and paperboard packaging market.

Paper & Paperboard Packaging Market Challenges

However, the intense competition among the paper and paperboard packaging manufacturers is a crucial restraint in the market. Also, current fragmentation in the industry because of the rising absorption of small and medium scale manufacturers and converters is a significant element playing as a challenge for the global paper and paperboard packaging market growth currently.

Potential Opportunities

During the forecast period, the increasing retail industry, new retail practices, rising retail measures taken to improve in-store and delivery efficiencies will increase the trend of market-ready packaging. Various brands on the paper and paperboard packaging market are implementing smart packaging to improve the quality of the shelf and the visibility of brands. They use advanced grades of highly printable liner boards to allow high visual impact packaging production, thus increasing the value of the paper and paperboard packaging market. The O2O (online to offline) specialized and on-demand delivery market also creates multiple opportunities for the paper and paperboard packaging market.

REPORT COVERAGE

Paper & Paperboard Packaging Market Segmentation:

By Type:

• Flexible Paper Packaging

• Boxboard

• Corrugated Box

In the type outlook of the paper & paperboard packaging market, the flexible paper packaging segment has acquired the significant share of the global market revenue owing to the variety of its applications and the ease of usage.

By Grade:

• Solid Bleached Sulfate (SBS)

• White Line Chipboard (WLC)

• Vegetable Paper

• Coated Unbleached ‘Kraft’ Paperboard

• Folding Box Board (FBB)

• Label Paper

By Application:

• Personal Care

• Food & Beverages

• Education and Stationery

• Healthcare

• Construction

• Others

In the application segmentation of the target market, food and beverages are the segments that are anticipated to multiply during the forecast period. This is due to the rapid expansion of organized-retail sector as most retail stores using packaging materials not only to preserve food but also to retain the nutritional value of food, and an increasing number of consumers that are buying gro-cery items such as frozen and chilled foods.

Paper & Paperboard Packaging Market Regional Analysis:

• North America

• Europe

• Asia pacific

• Latin America

• Middle East & Africa

Asia-Pacific generated the largest share of the market for paper and paperboard packaging in terms of value in the past and is anticipated to lead the global market for paper and paperboard packaging over the forecast period. Growing population, growing disposable incomes, and a change from established markets to purchasing packaged consumerist products, particularly in the food segment, has increased the region's adoption of Paper and Paperboard Packaging market growth. There is a significant rise in the food & beverage and food supply industry in the area.

Paper & Paperboard Packaging Market Keyplayers;

1.  Amcor Ltd.,

2. Cascades Inc.

3. Clearwater Paper Corporation

4. DS Smith Plc

5. ITC Ltd

6. International Paper Company

7. Metsa Group

8. Mondi Group

9. Nippon Paper Industries Co. Ltd

10. RockTenn Company

11. Sappi Limited

12. Smurfit Kappa Group plc,

13. Stora Enso Oyj,