PUBLISHER: The Business Research Company | PRODUCT CODE: 1436565
PUBLISHER: The Business Research Company | PRODUCT CODE: 1436565
Paperboard packaging comprises containers made primarily from paperboards, commonly used in crafting folding cartons and paper cups, with coated boards being prevalent. These containers offer convenient storage, functional packaging, and ease of handling, boasting an attractive appearance. They are widely accepted and utilized more extensively than plastic containers due to various reasons, benefiting both end-users and the environment.
Paperboard packaging encompasses key types, including corrugated boxes, boxboards, and flexible paper. Corrugated boxes are characterized by rows of small air-filled grooves running along the material's length, typically three layers thick and composed of paperboard. Available in various grades such as solid bleached sulphate (SBS), coated unbleached kraft paperboard (CUK), white lined chipboard (WLC), glassine and greaseproof paper, label paper, and others, these materials cater to diverse packaging needs. Raw materials for paperboard production include fresh sources and recycled waste paper. The applications span across various industries such as food, beverage, healthcare, personal care, household care, and electrical products.
The paperboard packaging market research report is one of a series of new reports from The Business Research Company that provides paperboard packaging market statistics, including paperboard packaging industry global market size, regional shares, competitors with a paperboard packaging market share, detailed paperboard packaging market segments, market trends and opportunities, and any further data you may need to thrive in the paperboard packaging industry. This paperboard packaging market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The paperboard packaging market size has grown strongly in recent years. It will grow from $204.13 billion in 2023 to $214.41 billion in 2024 at a compound annual growth rate (CAGR) of 5.0%. The growth observed in the historical period can be attributed to the demand for sustainable packaging, a shift from plastic to paperboard materials, brand preferences for eco-friendly packaging, regulatory changes, and the cost-efficiency of paperboard.
The paperboard packaging market size is expected to see strong growth in the next few years. It will grow to $275.43 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The anticipated growth in the forecast period can be attributed to the rise in demand for convenience packaging, increased requirements for product protection, concerns related to health and safety, a focus on customization and branding, and the cost-efficiency of packaging solutions. Major trends in the forecast period include a growing demand for eco-friendly packaging, a commitment to sustainability from brands, innovations in design and printing technologies, customization and versatility in packaging, and increased demand from the retail sector.
The anticipated upswing in the consumption of packaged food is poised to be a key driver for the growth of the paperboard packaging market in the foreseeable future. Packaged food, which involves the use of coverings to shield it from direct environmental contact, relies extensively on paperboard packaging due to its compatibility with food products. Paperboard folding cartons, in particular, find widespread use in packaging various items such as frozen foods, dry meals, and dairy products. As of September 2022, a report published by Zawya, a UAE-based media portal, projects a substantial 21% increase in the demand for packaged food, reaching a total of 44 million tons by the year 2026. This surge in demand is expected to be particularly pronounced in specific regions, with anticipated consumption growth rates of 28% in Iraq, 22% in Saudi Arabia, and 19% in the UAE. Consequently, the escalating consumption of packaged food stands as a pivotal factor driving the growth of the paperboard packaging market.
The anticipated expansion of the e-commerce industry is set to significantly boost the growth of the paperboard packaging market in the coming years. E-commerce, involving the online buying and selling of goods and services, has witnessed substantial growth. The increasing emphasis on reducing environmental impact within this sector has positioned paperboard as an appealing packaging choice, given its renewable and biodegradable characteristics. This aligns with the growing demand for sustainable packaging options. As of October 2021, a report by the International Trade Administration, a US-based agency, indicates projections that consumer goods e-commerce will constitute approximately 22% of total global retail sales. The forecasted average growth rate is expected to surpass 1% by the year 2024. Additionally, sustained growth is anticipated in overall global retail e-commerce sales, with a consistent increase of 8% expected through 2024. Consequently, the expanding e-commerce industry stands as a driving force behind the growth of the paperboard packaging market.
New product innovations are a prominent trend gaining momentum in the paperboard packaging market. The packaging industry is increasingly directing its focus towards the integration of smarter technologies into packaging solutions to enhance safety in diverse terrains and conditions. A case in point is the February 2021 introduction by J & J Green Paper, a US-based company specializing in innovative paper products. They unveiled JANUS, a green paper technology designed to treat paper and packaging with environmentally friendly components, minimizing chemical by-products while ensuring moisture resistance. JANUS stands out for its organic, recyclable, compostable, and repulpable properties, positioning it as a direct replacement for polyethylene glycol (PEG). This strategic move aligns with the industry's commitment to sustainable and technologically advanced solutions, catering to evolving market demands.
Prominent companies within the paperboard packaging market are proactively engaged in the development of innovative products, specifically focusing on sustainable paperboard packaging. This strategic initiative is aimed at reaching broader customer bases, increasing sales, and ultimately boosting revenue. Sustainable paperboard packaging involves the use of environmentally friendly and socially responsible practices throughout the production, utilization, and disposal of paperboard materials for packaging purposes. An illustrative example is Graphic Packaging International, a US-based packaging manufacturer, which, in February 2021, introduced ProducePack designed for fresh produce. The key feature of ProducePack lies in its innovative carton design, providing brands and retailers with an environmentally conscious solution applicable across diverse applications. Beyond its artisan appearance that safeguards, preserves, and showcases fresh produce seamlessly from the field to the store, ProducePack also offers an eco-friendly alternative. Available in various configurations and structures, it stands out with convenient carrying handles, appealing branding, and the ability to differentiate products in the typically uniform produce aisle. Significantly, ProducePack introduces an additional layer of hygiene protection by prepackaging the produce, contributing to a reduction in excessive handling within the store. This strategic move by Graphic Packaging International underscores its commitment to sustainability, innovation, and meeting the evolving demands of the market.
In July 2021, Mondi PLC, a UK-based packaging and paper group, successfully acquired Olmuksan International Paper for a deal amounting to €66 million ($69.4 million). This strategic acquisition was aimed at bolstering Mondi's presence in Turkey, offering significant operational advantages and paper integration benefits through access to Olmuksan's global portfolio of virgin and recycled containerboard. Olmuksan International Paper is a Turkey-based company specializing in corrugated packaging within the paperboard packaging sector.
Major companies operating in the paperboard packaging market report are WestRock Company, The International Paper Company, RockTenn Company, Georgia Pacific LLC, Smurfit Kappa Group PLC, Amcor Ltd., Oji Holdings Corporation, Stora Enso Oyj, DS Smith PLC, Mondi PLC, Graphic Packaging International LLC, ITC Limited, Packaging Corporation of America, Sappi Limited, Sonoco Products Company, Rengo Co. Ltd., Evergreen Packaging Inc., Huhtamaki Oyj, BillerudKorsnas AB, Shandong Chenming Paper Holdings Limited, Cascades Inc., Lee & Man Paper Manufacturing Limited, KapStone Paper and Packaging Corporation, Wilfried Heinzel AG, Anhui Shanying Paper Industry Co. Ltd., Metsa Board Corporation, Svenska Cellulosa Aktiebolaget, Clearwater Paper Corporation, Nippon Paper Industries Co. Ltd., Shandong Bohui Paper Industry Co. Ltd.
Asia-Pacific was the largest region in the paperboard packaging market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the paperboard packaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the paperboard packaging market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The paperboard packaging market consists of sales of packaging solutions that are recyclable, biodegradable, reduce waste production, reduce environmental pollution, and the simplicity with which items can display their distinctive packaging and visuals to convey a brand's story, as well as their better product protection and stickability. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Paperboard Packaging Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on paperboard packaging market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for paperboard packaging ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The paperboard packaging market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.