The Paper & Paperboard Packaging Market Trendsvalued at USD 219.66 Billion in 2023, according to SNS Insider report and growing at a CAGR of 4.8 % in the forecast period of 2024-2031.
Paper & paperboard packaging’s recyclability and eco-friendliness position it for significant growth in a market. The paper & paperboard packaging is made up of wood pulp offering readily recyclable alternative to other materials. This reduces the landfill waste and the environmental impact of packaging. The eco-friendly characteristics aligns with growing consumer demand for sustainable products and stricter government regulations particularly in North America and Europe. The paperboard packaging has a small footprint compared to bulkier options, making it a practical choice across various sectors.
A significant contributor to market growth is India’s paper consumption, which is experiencing a substantial 6-7% annual increase. Similarly, a recent survey by the Canada-based Paper and Paperboard Packaging Environmental Council (PPEC) revealed that Canadian containerboard packaging producers utilized recovered paper at an impressive rate of 81%. Paper offers a significant environmental advantage that it can be recycled up to 6-7 times. Industry efforts such as trade association like CEPI (Confederation of European Paper Industries) report a 96% recycling rate for European paper, which are used in paper and board production this highlights a strong commitment to circularity in the market. Also, advancements in paper manufacturing technology are reducing the environment footprint. Leading Indian paper mills have adopted eco-friendly bleaching processes, wastewater treatment methods and efficient boilers. This results into 20% decrease in energy consumption over the past five years. The water usage for paper production has been reduced and mills now utilizing under 50 cubic meters of water per ton of paper as it was 200 cubic meters earlier. These advancements demonstrate the paper & paperboard packaging industry’s dedication to sustainable practices.
List ofPaper & Paperboard Packaging Market Companies Profiled in Report:
- Smurfit Kappa Group plc
- DS Smith plc
- Packaging Corporation of America
- International Paper Company
- Nippon Paper Industries Company Ltd
- ITC Ltd
- Sappi Limited
- Metsa Group
- Stora Enso Oyj
- Svenska Cellulosa Aktiebolge
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Recent Developments
- Graphic Packaging sold its Augusta, Georgia paperboard plant to Clearwater Paper for $700 million in February 2024, reflecting an adjusted EBITDA of approximately $100 million.
- Recycled-content board manufacturer Greif Inc. strategically expanded its portfolio in September 2023 by acquiring a 51% stake in ColePak LLC. This strategic move expands Greif’s product portfolio and strengthens their presence in the sustainable packaging market.
Segment Analysis
By Product type: White Lined Chipboard is eco-friendly paperboard made from recycled fibers gaining the popularity in the product type segment. This is available in both coated and uncoated options with two or three top layers and one on the back. This eco-friendly material is a popular choice for packaging everyday items like frozen meals, breakfast cereals, footwear and children’s toys. White lined chipboard is a responsible choice for manufacturers as it utilizes 100% recycled paper pulp.
- Folding Boxboard
- Solid Bleached Sulfate
- Label Paper
- White Lined Chipboard
- Glassline & Grease Paper
- Others
By Application: The food & beverages holds dominance in the application of paper & paperboard packaging market. Different paper grades are specially treated with coating ensures to hold liquids securely. These beverages cartons offer versatile solution with protection of taste, freshness and nutritional value of products throughout storage and transportation. They function for both chilled and shelf-stable beverages and making them a convenient and reliable packaging choice.
- Durable Goods
- Food & Beverages
- Medical
- Non-Durable Goods
- Others
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Regional Insights
The Asia-Pacific region is leader in the paper & paperboard packaging market, because of the e-commerce boom and rising disposable incomes. The high demand from emerging Asian countries like India and Southeast Asia with the growing popularity of ready-to-eat meals. Also, increasing consumer awareness of sustainable packaging. The focus on eco-friendly practices and lightweight, biodegradable and recyclable nature of paper contributes in the dominance of Asia-pacific region.
Europe stands out as a second-largest paper and paperboard packaging market, driven by a strong focus on eco-friendly and recyclable materials. This focus on sustainability is particularly evident in the United Kingdom. The paperboard packaging has become popular in retail and food applications.
Key Takeaways
- E-commerce growth and increasing popularity of folded carton packaging are key factors.
- Industry advancements like efficient technologies and high recycling rates showcase commitment to sustainability.
- Food & Beverage remains the dominant application segment due to specially treated paper grades for secure liquid packaging.
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