Paper and packaging products play a crucial role in preserving and transporting various goods. They provide an affordable and sustainable packaging solution for foods, medicines, electronics, and other commodities. Rising environmental concerns have increased the demand for sustainable packaging materials like paper.
The Global Paper And Packaging Market Size is estimated to be valued at US$ 454.5 Mn in 2024 and is expected to exhibit a CAGR of 6.1% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increased demand for sustainable options has accelerated the growth of the paper and packaging market over the past few years. Major brands and retailers have been focusing on green packaging made from recycled or FSC certified paper to appeal to eco-conscious customers. Transitioning to paper packaging has allowed many companies to lower their carbon footprint. Governments in several countries have also implemented regulations promoting the use of sustainable materials like paper for packaging. This supportive policy environment has boosted the paper and packaging industry globally.
Segment Analysis
The paper and packaging market is dominated by the corrugated boxes segment. Corrugated boxes account for over 50% of the market share as they are widely used for protective packaging of goods during transportation and shipping. Corrugated boxes provide effective protection from physical damage and are durable and cost-effective. Their reuse and recycling-friendly nature further make them a popular choice in the packaging industry. Other major segments include flexible packaging, folding boxes and cases, and others. The flexible packaging segment is expected to witness fastest growth during the forecast period due to increasing demand from the food and pharmaceutical industries.
Key Takeaways
The global paper and packaging market is expected to witness high growth over the forecast period fueled by rising e-commerce activities and growing packaging needs across industries. The global Paper and Packaging Market is estimated to be valued at US$ 454.5 Mn in 2024 and is expected to exhibit a CAGR of 6.1% over the forecast period 2024 to 2031.
Regional analysis shows that Asia Pacific currently dominates the market with a share of over 35% led by countries such as China, India, and Japan. The region is poised to maintain its leading position in the coming years as well owing to rapid industrialization, urbanization and increasing consumer goods demand in the region. North America is another major market for paper and packaging driven by well-established FMCG and consumer durable sectors. Stringent government regulations regarding usage of eco-friendly materials are further promoting market growth in the region.
Key players operating in the paper and packaging market are Dell Technologies Inc., HP Inc., Lenovo Group Limited, and Toshiba Corporation. Dell Technologies Inc. and HP Inc. have been the dominant players in the server market and have a wide product portfolio. Lenovo Group Limited has strengthened its position in the server market through strategic acquisitions such as IBM's x86 server business. Toshiba Corporation also has a strong presence across global markets and offers a range of enterprise servers catering to different industry verticals.
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