The Paper & Paperboard Packaging Market is expected to grow at a steady rate of around 5% owing to the increasing awareness regarding sustainable packaging material from quick-service restaurant and e-commerce retailers coupled with stringent regulations around the world against using plastic packaging material.
Paper & paperboard packaging material is made up of pulp, which is derived from wood as well as a non-wood source such as straw, bamboos, among others. Wood pulp is available widely and is increasingly generated by the recycling of the paper. Sustainable nature and low cost of the wood pulp makes paper & paperboard packaging an ideal packaging for end-use industries. Therefore, increasing demand from industries such as food & beverages, personal care & cosmetics, and others coupled with rising awareness and demand for eco-friendly packaging is expected to fuel the growth for paper & paperboard packaging during the forecast period. In addition, the rise in disposable income and an emerging number of working professionals coupled with a busy and hectic life schedule is the flourishing restaurant industry as well as e-commerce industry. Thus, creating demand for sustainable paper and paperboard packaging from consumer goods & retail and food & beverages industry.
Based on the grade, the market is segmented into Solid Bleached Sulfate (SBS), Coated unbleached kraft paperboard (CUK), Folding boxboard (FBB), White Lined Chipboard (WLC), Glassine & Greaseproof Paper, Label Paper, and Others. The Coated unbleached kraft paperboard (CUK) segment grabbed the major market share and dominated the market in 2020. The benefits such as coated paperboard grades provide excellent tear strength in humid and dry conditions, and provides excellent printability is the key factor, due to which the market of this segment is uplifting.
On the basis of application, the market is categorized into Food & Beverage, Healthcare, Personal & Homecare, and Others. The food & beverage segment grabbed the major market share and dominated the market in 2020. The key reasons for the growth of this segment in the emerging hospitality sector coupled with the rising number of tourists, which demands ready-to-eat convenience food. According to the World Bank, the number of international departures more than doubled between 1997 and 2017, from 687 million to 1.57 billion per annum. Moreover, the number of hotel rooms globally had risen by 17.7% since 2008 to 17 million in 2018.
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For a better understanding of the market adoption of the Paper & Paperboard Packaging industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. Asia Pacific region dominated the market and grabbed a major market share in 2020 on account of rising disposable income in the countries such as China, India, and Japan. Moreover, emerging demand for convinced food coupled with the ease of availability of key resources such as land and labor could help well-established market players establish research and development centers and production units, which could further help market growth in the region.
Some of the major players operating in the market include Amcor plc, ITC limited, Cascades limited, Rock Tenn Company, Clean water paper corporation, Packaging Corporation of America, DS Smith Plc, Mondi group, Metsa group, Nippon paper industries Co Ltd.
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Market OverviewMarket Research Future (MRFR) studied the global Paper & Paperboard Packaging Market 2020 and effect of coronavirus pandemic on it for the years to come.
As per MRFR findings, the global Paper & Paperboard Packaging Market can rise at 6% CAGR across the forecast period.
Meanwhile, rise in the utility of paper and paperboard packaging in personal care sector can impel the market growth.
They are; ITC Ltd. (India), Cascades Inc. (Canada), Amcor Ltd. (Australia),Clearwater Paper Corporation (U.S.), RockTenn Company (U.S.), Spartan Paperboard Company (U.S.), Nippon Paper Industries Co., Ltd. (Japan), DS Smith Plc.
(U.K.), Packaging Corporation of America (U.S.), Metsa Group (Finland), Mondi Group (South Africa), Georgia-Pacific LLC (U.S.), Sonoco Products Company (U.S.), Stora Enso Oyj (Finland), and Colbert Packaging (U.S.).Regional AnalysisIn China, the flourishing food and beverage sector, followed by the healthcare industry are largely deploying corrugated packages, which can promote the expansion of APAC paper and paperboard packaging market in the years to come.
India, a reputed producer of paper & paperboard packaging can bring considerable business for Asia Pacific market.
