Growing Demand for Paperboard Packaging Boxes Bolsters the Expansion of Paper and Paperboard Packaging Market

 

The medicine and pharmaceuticals sector requires package that does not leak, does not allow the product to spread or penetrate and is strong enough to hold the contents under normal handling. The paper and paperboard packaging materials, therefore play an important role in packaging and displays for the medicine and pharmaceuticals sector. With increased usage of the paper and paperboard packaging, the global paper and paperboard packaging market is estimated to increase rapidly.

Data Bridge Market Research analyses that the Paper and Paperboard Packaging Market is expected to grow at a CAGR of 5.1% in the forecast period of 2021 to 2028 and is expected to reach USD 203,118.18 million by 2028. The high adoption of the paper and paperboard packaging amongst various end users owing to the advantageous properties is projected to propel the growth of the market.

Key Findings of the Study

  • The paper and paperboard packaging market is anticipated to reach a value of USD 203,118.18 million by 2028, with a CAGR of around 5.1% during the forecast period from 2021 to 2028.
  • Asia-Pacific dominated the paper and paperboard packaging market in 2021 due to the increasing population and consumption of consumer electronics which is packaged in paperboard.
  • The packaging segment is expected to dominate global paper and paperboard packaging market with 30.03% market share.
  • The paper and paperboard packaging market was adversely affected by COVID-19 outbreak. The lockdown restriction led to the emergence of various challenges such as the denied wound care services, halt of various operations, canceled or postponed elective surgeries, and others.
  • Europe is expected to register lucrative growth over the forecast period of owing to the increasing interest in recycling of paper and avoiding the use of plastic.

Mounting Requirement for Lightweight Packaging Boards is Expected to Drive the Market's Growth Rate

There has been increase in demand for paper bags across the retail sector due to the property of lightweight and twisted handles which make carrying goods easy from one place to another.  The paper bags are lightweight and have more strength ability to handle the load, which is why they are also highly utilized across the food and beverage product transportation as paper bags have the strength to handle the load. They have different types, in which food products can be transported without any damage such as, carrier bags, overwrapping paper, sugar pouches, and flour bags. The paper bags are reused and recycled easily at a low cost which gives benefits to manufacturers. Therefore, the demand for lightweight and easily transportable paper bags packaging will increase its adoption across the food and beverages industry and boost the global paper and paperboard packaging market.

Segment Analysis:

The paper and paperboard packaging market is segmented on the basis of type, product, property, weight and end user.

  • On the basis of product, the global paper and paperboard packaging market is segmented into paper cups, kraft paper boards, boxboard, folding boxes and cases, paper bags and others. The kraft paper boards segment is expected to dominate global paper and paperboard packaging market.

In 2022, the Kraft Paper Boards Segment is Expected to Dominate the Market with 29.96% Market Share

In 2022, the kraft paper boards segment is expected to dominate global paper and paperboard packaging market with 29.96% market share as the kraft paper boards have high durability, high tensile strength and high resistance capacity that helps in sustaining the temperature balance of any product which increases its demand globally. Moreover, they can even withstand more pressure and minimize waste generation which increases its across various industries.

  • On the basis of type, the global paper and paperboard packaging market is segmented into stickers, shopper, coating, packaging, invitations / envelopes / notepaper, labels, covers, catalogs and digital print. In 2022, the packaging segment is expected to dominate global paper and paperboard packaging market with 30.03% market share due to the growing demand for paper boxes from the e-commerce industry as the paper-based packaging can be easily recyclable and they maintain the safety of the products inside the boxes and their high usage for packaging.
  • On the basis of property, the global paper and paperboard packaging market is segmented into colored, natural, coated, pearlescent, texture, recycle, cotton and others. The recycle segment is expected to dominate the market with 24.65% market share.

In 2022, Recycle Segment is Expected to Dominate the Market with 24.65% Market Share

In 2022, recycle segment is expected to dominate the global paper and paperboard packaging market with 24.65% market share as recycling property helps to reduce pollution, protects the ecosystem and wildlife and reduces waste generation which increases its demand globally. Moreover, it increases economic security by tapping a domestic source of materials and reduces the demand for raw materials thus rising its demand in the region.

  • On the basis of weight, the global paper and paperboard packaging market is segmented into 70 G/M2 TO 100 G/M2, 101 G/M2 TO 150 G/M2, 151 G/M2 TO 200 G/M2, 201 G/M2 TO 250 G/M2 and more than 250 G/M2. In 2022, the 151 G/M2 to 200 G/M2 segment is expected to dominate global paper and paperboard packaging market with 36.10% market share as this weight is easier to carry , has easy access to opening the products, provides excellent flexibility to the products and is less visible to spoilage which increases its demand globally. Moreover, this weight comes in different sizes and is easily customized which increases its demand across the globe.
  • On the basis of end user, the global paper and paperboard packaging market is segmented into personal care and cosmetics, food and beverages, healthcare, consumer goods, education and stationary and others. In 2022, the food and beverages segment is expected to dominate the global paper and paperboard packaging market with 46.35% market share as paper and paperboard packaging has good flexibility to store different types of food products, provides long life to food products, maintains the freshness of the food products and are very light weighted to carry any kind of food items which increases its demand globally.

Major Players

Data Bridge Market Research recognizes the following companies as the major paper and paperboard packaging market players in paper and paperboard packaging market are Amcor plc (Switzerland), Cascades Inc (Canada), Packaging Corporation of America (U.S.), DS Smith (U.K), Fedrigoni S.P.A. (Italy), Atlantic Packaging (U.S.), International Paper (U.S.), Oji Holdings Corporation (Japan), UPM, Rengo Co., Ltd. (Finland), WestRock Company (U.S.) and Sonoco Products Company (U.S.).

Market Development

  • In November 2021, Oji Holdings Corporation announced the establishment of a new corrugated container plant in Vietnam. This has further helped the company to increase its production volume of corrugated boxes in the Asia-Pacific region. Vietnam's corrugated container industry The Oji Group has made "growth of global business" one of its primary pillars in its quest to become a value-creating, innovative firm. In Vietnam, the Oji group operates five corrugated container facilities (3 in the north and 2 in the south), with a third facility in the south currently under construction. The Oji Group will continue to expand its business by establishing a new fourth factory in the North, where demand is likely to grow. The new facility will be Oji's 36th corrugated container facility across Southeast Asia, India, and Oceania.
  • In March 2021, Ortloff Engineers, Ltd.'s two state-of-the-art corrugated box factories were purchased by International Paper (Germany). This acquisition will strengthen the company's capabilities in Madrid and Catalonia. In the industrial, fresh fruits and veggies, and e-commerce areas, it provides high-quality packaging solutions.
  • In Sept 2020, Mondi Group, a packaging and paper company, has established a collaboration with BIOhof Kirchweidach, an organic farm. This collaboration would entail the creation of a long-term packaging solution for fresh vegetables on the vine. The new packaging, dubbed Coral Tray, is in keeping with BIOhof's goal of replacing its packaging with a recyclable and plastic-free option. The entirely recyclable packaging is comprised of renewable resources and recycled corrugated boards, with a recycling rate in Europe of over 80%.
  • In December 2021, Stora Enso was awarded Best Circular Solution presented by Tetra Pak for its significant beverage carton recycling innovation achievements. This has helped the company to strengthen its position globally.

Regional Analysis

Geographically, the countries covered in the paper and paperboard packaging market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

As per Data Bridge Market Research analysis:

Asia-Pacific is the Dominant Region in Paper and Paperboard Packaging Market During the Forecast Period 2021 - 2028

Asia-Pacific dominated the paper and paperboard packaging market and will continue to dominate the paper and paperboard packaging market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to the increasing population and consumption of consumer electronics which is packaged in paperboard in this region. 

Europe is Estimated to be the Fastest Growing Region in Paper and Paperboard Packaging Market the Forecast Period 2021 - 2028

Europe is expected to grow during the forecast period due to the presence of major market players increasing interest in recycling of paper and avoiding the use of plastic in this region.

COVID-19 Impact Analysis

The outbreak of COVID-19 negatively impacted the paper and paperboard packaging market. The epidemic wreaked havoc on the packaging sector, with the impacts of nationwide lockdown, corporations shifting their sourcing away from China, and materials used in packaging being reconsidered.  The imposition of the lockdown and social distancing restrictions by the government to curb the COVID-19 pandemic outbreak, led to emergence of various challenges such as the halt of various operations, suspensions of new developments and other disruptions. Moreover, the consumer preferences changed dramatically, influencing the packaging business. The need for paper packing containers and cartons increased as more food and consumer products were delivered to consumers' homes. Consumers around the world are increasingly eager to purchase their goods through channels other than those they used before to the pandemic, resulting in a significant increase in e-commerce

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