Global Paper Packaging Market to Grow at 2.8% During 2023-2028, Propelled by Enhanced Focus Toward Sustainable Development

April 10, 2020 | Packaging

According to the latest report by IMARC Group, titled "Paper Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global paper packaging market reached a value of US$ 416.5 Billion in 2022. Paper packaging refers to the versatile and cost-efficient method of transporting, protecting and preserving a wide array of items by utilizing various rigid and flexible packaging materials, including corrugated boxes, liquid paperboard cartons, paper bags and sacks, folding boxes and cases. They are manufactured by bleaching fibrous compounds derived from wood or recycled wastewater pulp. Paper packaging is usually sturdy, durable and lightweight as well as customizable and includes paperboard cartons, paper bags, corrugated boxes and folding boxes. Paper packaging solutions are extensively utilized in the packaging of food products, beverages, glassware, electronics, medicines, toiletries and perishables.

Global Paper Packaging Market Trends:

The global market is primarily driven by the growing demand for paper-based flexible packaging from numerous industries. Parchment and grease-proof papers are widely used in the production of flexible packaging in the form of bags, envelopes and pouches. The market is further driven by the rising requirement for affordable packaging solutions. Moreover, the growing preference for online shopping portals and the expansion of modern retail formats across the world has resulted in an increasing demand for secondary and tertiary paper packaging. This is further facilitated by an enhanced focus toward sustainable development among the masses. In line with this, governments of various countries have banned the usage of single-use plastics, which is expected to provide an impetus to the market growth, as paper packaging solutions are eco-friendly and act as a sustainable alternative to the plastic-based packaging solutions. Apart from this, several companies, food joints and cafes are increasingly using paper cartons for packing liquids and beverages, which is boosting the sales of paper packaging solutions. Other factors, such as rapid urbanization and the continual launch of aesthetically and visually appealing paper packaging designs by the manufacturers, are expected to create a positive outlook for the market. On account of the aforementioned factors, the market is anticipated to grow at a CAGR of 2.8% during 2023-2028.

Market Summary:

On the basis of the product type, the market has been divided into corrugated boxes, folding boxes and cases, liquid paperboard cartons, paper bags and sacks, and others.
Based on the grade, the market has been segregated into solid bleached, coated recycled, uncoated recycled and others.
On the basis of the packaging level, the market has been categorized into primary, secondary and tertiary packaging.
Based on the end use industry, the market has been classified into food, beverages, personal care and home care, healthcare and others.
On the geographical front, the market has been segmented into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico, Argentina, Colombia, Chile, Peru and others), and Middle East and Africa (Turkey, Saudi Arabia, Iran, the United Arab Emirates and others).
The competitive landscape of the market has also been analyzed in the report with the detailed profiles of the key players operating in the market. Some of these players include Amcor, DS Smith Plc, Holmen Group, Hood Packaging Corporation, Huhtamäki Oyj, International Paper, Mayr-Melnhof Karton AG, Mondi plc, Pactiv Evergreen Inc., Pratt Industries, Smurfit Kappa and WestRock Company.

Report Scope:

Report Features	Details
Base Year of the Analysis	2022
Historical Period	2017-2022
Forecast Period	2023-2028
Units	US$ Billion
Segment Coverage	Product Type, Grade, Packaging Level, End Use Industry, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico, Argentina, Colombia, Chile, Peru, Turkey, Saudi Arabia, Iran, United Arab Emirates
Companies Covered	Amcor, DS Smith Plc, Holmen Group, Hood Packaging Corporation, Huhtamäki Oyj, International Paper, Mayr-Melnhof Karton AG, Mondi plc, Pactiv Evergreen Inc., Pratt Industries, Smurfit Kappa and WestRock Company
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Global Paper Packaging Market to Grow at 2.8% During 2023-2028, Propelled by Enhanced Focus Toward Sustainable Development

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