The global paper and paperboard packaging market is on track to reach a valuation of US$ 223.9 billion by 2024, with further growth anticipated to propel the market to US$ 351 billion by 2034, registering a steady CAGR of 4.6%. This growth trajectory is attributed to the increasing demand for sustainable and eco-friendly packaging solutions across various industries.
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Key Market Insights:
- Sustainability Driving Growth: The market is experiencing significant growth driven by the demand for sustainable and eco-friendly packaging solutions. With applications spanning diverse industries such as food and beverage, pharmaceuticals, and retail, paper and paperboard packaging offers versatility and recyclability.
- Versatility Across Industries: Paper and paperboard packaging showcase versatility, catering to a wide range of industries including food and beverage, pharmaceuticals, and retail. This adaptability underscores the market’s ability to meet diverse packaging needs.
- Emphasis on Recyclability: The market places a strong emphasis on recyclability and environmental friendliness, aligning with consumer preferences and regulatory measures promoting sustainable practices. Rising consumer awareness and preference for biodegradable packaging further contribute to market expansion.
- Focus on Innovation: Key players in the market prioritize technological innovations and product development to enhance performance and meet evolving market demands. Despite digitalization trends, the enduring appeal of paper and paperboard packaging and its eco-friendly attributes position the market for sustained growth.
Opportunities:
- Investment in Research and Development: The market presents opportunities for companies to invest in research and development, fostering innovation in paper and paperboard packaging solutions to address evolving consumer demands.
- Development of Sustainable Solutions: With an increasing emphasis on recyclability, manufacturers have the opportunity to develop and promote packaging solutions that align with sustainability goals and address environmental concerns.
- Tailored Packaging Solutions: Tailoring paper and paperboard packaging to meet the specific needs of various sectors provides opportunities for market expansion. Specialized packaging for food products or pharmaceuticals, for example, presents avenues for growth.
- Adherence to Regulatory Measures: Opportunities arise for companies to align with global regulations favoring sustainable practices, ensuring compliance, and gaining a competitive edge in the evolving regulatory landscape.
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Key Takeaways from the Market Study
- Based on type, the corrugated boxes are projected to expand at 4.5% CAGR by 2034.
- China is estimated to register at a CAGR of 5.3% by 2034.
- South Korea experiences significant growth, projected at a CAGR of 6.6% by 2034.
- Based on grade, folding boxboard is anticipated to expand at a CAGR of 4.4% by 2034.
Leading Players Profiled in Paper and Paperboard Packaging Industry, 2024-2034
- Amcor Ltd.
- ITC Ltd.
- Cascades Inc.
- RockTenn Company
- Clearwater Paper Corporation
- Packaging Corporation of America
- DS Smith Plc.
- Mondi Group
- Metsa Group
- Nippon Paper Industries Co., Ltd
- Georgia-Pacific LLC
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Key Segments of Paper and Paperboard Packaging Industry Survey
By Type:
- Corrugated Boxes
- Boxboard
- Paper Bag
By Grade:
- Folding Boxboard
- Solid Bleached Sulfate
- White Line Chipboard
- Coated Unbleached Kraft Board
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East and Africa
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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