Market Research Report
Paper Packaging Materials
|Paper Packaging Materials|
Published: February 1, 2022
Global Industry Analysts, Inc.
Content info: 547 Pages
Delivery time: 1-2 business days
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Global Paper Packaging Materials Market to Reach US$323 Billion by the Year 2026
Paper packaging is a versatile and cost-effective method to protect preserve and transport a broad category of products. The packaging material is lightweight, durable and can be customized to meet specific needs with respect to products and customers. Growth in the global market is driven by enormous increase in demand of paper packaging material in pharmaceutical, cosmetics, food and beverage industry. The increased paper production will contribute to market growth of paper packaging industry. Besides, increasing awareness among potential customers about environmental concerns, rise in adoption of paper materials as sustainable packaging solutions and strict governmental regulations for protecting environment are also the driving forces for market growth. Technological intervention in recycling for paper and increased impetus on R&D initiatives by government and producers are predicted to provide opportunities for market growth. Paper made packaging products are also used to render an aesthetic look to the package and further contribute to the market growth. Corrugated bags for shipping of bulk items are also in high demand and expected to drive demand in the near future. In addition, government ban on use of plastic material is also predicted to create new opportunities for the paper based packaging material market.
Amid the COVID-19 crisis, the global market for Paper Packaging Materials estimated at US$230.4 Billion in the year 2020, is projected to reach a revised size of US$323 Billion by 2026, growing at a CAGR of 5.9% over the analysis period. Paper Bags & Sacks, one of the segments analyzed in the report, is projected to grow at a 5.9% CAGR to reach US$109.1 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Corrugated Containers & Packaging segment is readjusted to a revised 5.4% CAGR for the next 7-year period. This segment currently accounts for a 26.3% share of the global Paper Packaging Materials market. Paper bags are generally made using recycled pulp or Kraft paper, or both. Brand owners are using flexible paper bags and sacks as a source of promotion and marketing.
The U.S. Market is Estimated at $63.6 Billion in 2021, While China is Forecast to Reach $64.6 Billion by 2026
The Paper Packaging Materials market in the U.S. is estimated at US$63.6 Billion in the year 2021. The country currently accounts for a 26.57% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$64.6 Billion in the year 2026 trailing a CAGR of 7% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.7% and 5.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5.4% CAGR while Rest of European market (as defined in the study) will reach US$69.6 Billion by the end of the analysis period. In North America, escalating demand for electronics goods and a growing food and beverages industry offer significant opportunities for corrugated and paperboard boxes. In Asia-pacific region, the increased consumption of ready-to-eat food and growing influence of westernization propels demand in the market.
Folding Boxes & Cases Segment to Reach $82.7 Billion by 2026
In the global Folding Boxes & Cases segment, USA, Canada, Japan, China and Europe will drive the 6.8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$39.9 Billion in the year 2020 will reach a projected size of US$64.3 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$12.5 Billion by the year 2026, while Latin America will expand at a 7.3% CAGR through the analysis period.
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