The packaging paper market is expected to witness significant growth in the coming years. It is projected to grow from USD 45.3 billion in 2022 to USD 72.4 billion by 2032, with a compound annual growth rate (CAGR) of 4.8%.
The global COVID-19 pandemic has had a notable impact on businesses and manufacturing industries, including the packaging paper market. Extended lockdowns and disrupted supply networks have led to a decrease in the production of packaging paper, posing challenges for producers. However, market participants are adapting to the situation and capitalizing on opportunities to overcome these obstacles and sustain their businesses.
The expansion of the retail and e-commerce sectors, along with the increasing demand for environmentally friendly packaging materials, are the primary drivers of the packaging paper market. The growth of online shopping platforms has resulted in higher demand for secondary and tertiary packaging products. Moreover, consumer attitudes towards eco-friendly packaging and supportive government initiatives are fostering market growth.
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The food and beverage industry is another significant growth factor for the packing paper market. The industry is shifting towards adopting food-grade paper packaging products to preserve the quality and nutrients of the food.
Innovations aimed at improving product efficiency and creating visually appealing packaging versions are expected to contribute to the growth of the packing paper market.
However, the market faces strong competition from flexible plastic packaging. Modern shoppers prioritize convenience and portability, leading to a shift in packaging design towards flexible and easy-to-handle options. Gusseted flexible pouches have become the preferred packaging for snacks, replacing traditional jars and tins. Flexible pouches are also suitable for packaging gels, liquids, and other products in addition to food and nutraceuticals.
Key Takeaways:
- The CAGR for the cosmetic segment of the end-user category in Packing Paper Market is anticipated to be 4.4% through 2032.
- In the United States, the Packing Paper Market is estimated to reach US$ billion by 2032, rising at a CAGR of % throughout the forecast period.
- By 2032, the Packing Paper Market in the United Kingdom is expected to be valued US$ million, with a CAGR of % through 2032.
- With a CAGR of % throughout the forecast period, China is expected to reach a market size of US$ million in Packing Paper Market by 2032. By 2032, the
- Packing Paper Market in Japan is estimated to be worth US$ million, growing at an annual rate of % through 2032.
- With a CAGR of % throughout the forecast period, South Korea is predicted to reach a market size of US$ million in Packing Paper Market by 2032.
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Competitive Landscape:
India and China have the fastest-growing economies. Developmentally, developing countries still use a great deal of plastic packaging compared to the developed nations of the west. Since plastic is cost-effective and convenient for consumers, it is the perfect material for packaging.
Georgia Pacific announced recently that it is leaving its paper business and will shut down all its paper machines permanently. Another company has already closed its wood yard and pulp mill in Port Hudson, LA. This was due to concerns around the environment, which includes depleting forests.
A number of notable players are operating in the global cardiac reconstruction devices market, including The Packaging Company, Packhelp, Ruskin Group, Purple Co, Moraya Packaging, Pratt Industries, Inc., Mondi Group plc, WestRock Company, Oji Holdings Corporation, DS Smith Packaging Limited, Tat Seng Packaging Group.
Market Benefits
1.The study provides an in-depth analysis of the global packing paper market along with the current trends and future estimations to elucidate the imminent investment pockets.
2.The key market players along with their strategies are thoroughly analyzed to understand the competitive outlook of the industry.
3.An extensive analysis of the market based on application assists in understanding the trends in the industry.
4.The report presents a quantitative analysis of the market from 2022 to 2032 to enable stakeholders to capitalize on the prevailing market opportunities.
Key segments
By Material Type:
- Corrugated Board
- Specialty Paper
- Box-board/Carton Board
- Kraft Papers
- Other
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By End-use Industry:
- Food & Beverage
- Healthcare
- Personal Care & Cosmetics
- Homecare & Toiletries
- E-Commerce
- Chemicals & Fertilizers
- Others
By Packing Type:
- Corrugated Boxes
- Cartons
- Wrapping Paper
- Cups & Tray
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
About FMI
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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