The global coated paper packaging box market is set to enjoy a valuation of US$ 13.7 Billion in 2022, and further expand at a CAGR of 4.5% to reach US$ 21.2 Billion by the year 2032. The market share held by the top 5 businesses is predicted to be between 15% and 20% by the end of 2022, with sales of collapsible boxes by box type expected to increase.
According to end use, the coated paper packaging box market is anticipated to continue to be led by the food and beverage segment. The same would be the cause, as the food and beverage industries are seeing an increase in demand for safe, protective, and high-barrier packaging.
The coated paper packaging box market has been witnessing significant growth in recent years due to the increasing demand for eco-friendly packaging solutions. Coated paper packaging boxes can be easily recycled, making them a more sustainable option than other packaging materials like plastic.
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The coated paper packing box market will generate US$ 13.1 Bn in revenue in 2021, according to the FMI report. The global coated paper packaging box market is anticipated to reach US$ 21.2 Bn by 2032, growing at a CAGR of 4.5% during the forecast period, thanks to the surge in demand from online shopping.
During the anticipated period, a good growth outlook is anticipated for the coated paper packaging box market. According to a recent FMI prediction, sales of coated paper packaging boxes will increase between 2022 and 2032, creating a US$ 8.2 billion opportunity for absolute incremental development.
During the projected period, it is expected that the coated paper packing box market would grow by 1.6 times its present market value.
How is the Evolution of Technology Affecting the Coated Paper Packaging Box Market?
Nowadays, recyclability has become the most important issue in using plastic as a packaging solution. Paper being the environment-friendly option provides the alternative solution for packaging but with limitations associated with paper packaging. Paper packaging is gaining popularity in the packaging world due to its recyclability and biodegradable nature. Paper packaging proves to be a more versatile and responsible packaging solution for manufacturers and retailers. Coated paper packaging box overcomes the limitations associated with paper packaging.
Paper reinforced with high barrier coating technology improves the properties of paper and provided more clarity and visibility to the packaging. Water-based coatings on the coated paper packaging box improve the performance and barrier properties without hindering the recyclability of the paper. Coated paper packaging box offer an improved water barrier for packaging seafood, fruits, and deep freeze applications such as ice creams, tubs, and frozen food. Coated paper packaging box offers excellent print receptivity to enhance the aesthetics of the products and finds more consumer interest.
Coated paper packaging box helps to improve oil and Greece resistance that can be used for the packaging applications such as disposable takeaway boxes used for restaurants, sweets, and seafood delivery, especially by e-commerce brands. The technological development for coated paper packaging boxes opening the new market tapping that will be raising the growth rates of the coated paper packaging box market.
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Which Box Type segment is estimated to remain the leading segment in the Global Coated Paper Packaging Box Market?
The collapsible box by the box type segment is estimated to remain a leading segment for the global coated paper packaging market during 2022-2032. The major advantages of collapsible box type in saving space and reusability factor create a smart packaging solution for the manufacturers as well as consumers.
Which End use is Creating Growth Opportunities in the Global Coated Paper Packaging Box Market?
The food and beverage segment by end use is expected to expand 1.5 times current value during 2022-2032. The increasing working population, changing lifestyle and changing eating habits of the consumer lead towards increased consumption of food items. The time shortage for the working people propelled the demand for food items. This increasing demand for food items augment the sales of coated paper packaging box market.
Country-wise insights
How does the U.S. Create a Growth Opportunity for Coated Paper Packaging Box Market?
The U.S. is expected to hold around 81% of the North American Coated Paper Packaging Box market by the end of the forecast period. The food service industry consumes various types of paper packaging which also includes paperboard box, coated paper packaging box, and others. The coated paper packaging box is preferred by the food service industry due to the increasing concern of eco-friendly packaging among the consumer along with the plastic ban by the government/authority.
According to the U.S. Department of Agriculture (USDA), around US$ 1.8 trillion worth of food was supplied by the foodservice and food retailing industry in the U.S., out of which US$ 978 billion worth of food was supplied by the foodservice facilities in the U.S. The food supplied by the food service facilities may have consumed large volume of packaging as food is packed in different packaging solutions.
Why is Mexico Estimated to Augment the Demand for Coated Paper Packaging Box Market?
According to the Mexican Online Sales Association, in 2020 the domestic e-commerce in Mexico valued at US$ 15.8 billion, an increase of over 80 percent from 2019. The e-commerce users in Mexico increased by 9% in 2020 from 2019. The expanding e-commerce sector in Mexico bolster the demand for paper box including coated paper packaging box market.
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Coated Paper Packaging Box Market by Category
By Box Type, Coated Paper Packaging Box Market is Segmented as:
- Hinged lid Box
- Telescopic Box
- Shoulder Neck Box
- Collapsible Box
- Others (Rigid Sleeve Box, etc.)
By Board Thickness, Coated Paper Packaging Box Market is Segmented as:
- Up to 1.5mm
- 1.5 to 2.5mm
- Above 2.5mm
By End Use, Coated Paper Packaging Box Market is Segmented as:
- Fashion Accessories and Apparels
- Food and Beverage
- Cosmetic and Personal Care
- Consumer Electronics
By Region, Coated Paper Packaging Box Market is Segmented as:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East & Africa
- Oceania
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