Despite the challenges posed by COVID-19, such as supply chain disruptions and fluctuating materials costs, the paper packaging market has held steady. In fact, it registered an impressive CAGR of 4.1% from 2022 to 2028 – a remarkable achievement considering all that’s been going on in 2020!
These developments have forced companies to find new ways to source their products away from China while still utilizing quality alternatives for packaging materials. It’ll be exciting to see how this industry continues navigating these times and where it will go next!
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Although the supply side of paper packaging has witnessed a significant impact, a drastic increase in the end-user demand in some applications has significantly expanded the scope of paper packaging.
- Paper packaging is becoming an increasingly popular option for protecting, preserving and transporting products. It has a number of desirable attributes such as being lightweight, biodegradable and recyclable – making it both good value-for-money and eco-friendly. Moreover, its convenience in meeting customer needs or product specifications have further cemented its place within the industry. The surging consumer demand for sustainable packaging solutions combined with increased regulatory constraints on environmentally hazardous materials are fuelling this growth even further; particularly driven by eCommerce businesses relying upon cardboard bags to facilitate delivery services across all industries
- The revolutionary concept of environment-friendly packaging is becoming increasingly prominent around the world, driven by an array of initiatives from corporate standards to governmental policies. France has led this trend with a ban on plastic bags since 2016 – saving 5 billion bags in distribution and 12 million for fruit and vegetable packaging alone! Despite its progress however, paper remains unable to pack heavier materials; making it difficult for them to compete against polymers or metal options due their greater resistance – something which could have further implications when considering deforestation caused during raw material sourcing as well as dioxin release through production processes.
- The packaging industry experienced many disruptions due to the COVID-19 pandemic, from supply side changes and a nationwide lockdown. However, certain sectors saw an unexpected surge in demand for paper packaging – including food products, healthcare items and e-commerce shipments. Corrugated packages quickly became popular as more shoppers switched their focus online during the pandemic, leading to growth opportunities within luxury markets too.
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Competitive Landscape
The top 5 players in paper packaging market hold more than 25% of the market. Though paper bottles are being churned out as the latest trend, the manufacturers would also try to come up with better versions of corrugated boxes going forward. Keyplayers are –
- Pratt Industries, Inc.
- DS Smith Packaging Limited
- Stora Enso Oyj
- Mondi Group Plc
- WestRock Company
- Huhtamaki Oyj
- Pactiv LLC
- Sonoco Products Company
- KapStone Paper and Packaging Corp
- Rengo Co. Ltd.
- US Corrugated Inc.
Paper Packaging Market Trends
This section covers the major market trends shaping the Paper Packaging Market according to our research experts:
Food and Beverage Expected to Hold Significant Market Share
- Paper packaging is the main asset of the food industry. It is environment-friendly and increases convenience for consumers. Due to this, there is significant competition in the food and beverage market among the players who provide quality products to consumers. Various packaging materials in the market are available to fulfill diverse packaging needs, like corrugated boxes and cardboard boxes.
- There is fierce competition among the quality-product providers in the food market. Due to these reasons, various manufacturers in the food market are continuously making and delivering high-quality products. There is an increase in the number of hypermarkets and supermarkets.
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North America Expected To Have Significant Market Share
- North America remains one of the main hubs for paperboard packaging products, with countless companies situated in the continent. In particular, the United States is at its prime within this market; as a result, food and beverage producers are vigorously relying on folding cartons to meet their needs.
- In 2018, the dynamic between the US and China was a key influence on the folding carton industry. A 10% tariff imposed by Trump’s administration had been in place with plans to soar up to 25% come January 2019 – until an agreement of temporary suspension shifted that trajectory. Despite this set-back, domestic production is still projected increase due to higher tariffs resulting in a possible transition towards more flexible packaging thus influencing market growth positively over time.
- The packging solutions industry is continuing to grow rapidly, with more and more market participants investing in advanced and customized offerings. This has been evidenced recently by EdelmannUSA’s entrance into the PPC – a clear sign of their increased focus on penetrating this thriving European sector.
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Key Segments Covered In Paper Packaging Industry Research
Paper Packaging Market by Material Type:
- Corrugated Board
- Specialty Paper
- Box-board/Carton Board
- Kraft Papers
- Molded Pulp
Paper Packaging Market by Packaging Type:
- Corrugated Boxes
- Cartons
- Wrapping Paper
- Bags & Sacks
- Cups & Trays
- Tapes & Labels
- Others
Paper Packaging Market by Level of Packaging:
- Primary
- Secondary
- Tertiary
Paper Packaging Market by End-use:
- Food & Beverages
- Tobacco
- Healthcare
- Personal Care & Cosmetics
- Homecare & Toiletries
- Electrical & Electronics
- E-Commerce
- Chemicals & Fertilizers
- Other Industrial
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