Growing demand for eco-friendly packaging fuels market expansion across industries. Biodegradable options, regulatory support, and consumer trends paint a promising picture. Explore the intricate dynamics of this market and uncover opportunities in our comprehensive FMI report.
NEWARK, Del., Feb. 5, 2024 /PRNewswire/ -- The paper and paperboard packaging market is anticipated to reach a valuation of US$ 223.9 billion in 2024. The industry is projected to be worth US$ 351 billion by 2034, expanding at a CAGR of 4.6% between 2024 and 2034. The market is witnessing significant growth propelled by a surge in demand for sustainable and environmentally friendly packaging solutions. This upward trajectory is driven by diverse industries, including food and beverage, pharmaceuticals, and retail, showcasing the adaptability and versatility of paper and paperboard packaging.
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The materials offer a compelling combination of functionality, recyclability, and eco-friendliness, aligning with the increasing emphasis on reducing environmental impact. Stringent regulations favoring sustainable practices further bolster market expansion, urging companies to adopt eco-conscious packaging solutions. Moreover, the rising consumer preference for biodegradable packaging adds momentum to the industrial growth, reflecting a global shift towards environmentally responsible choices.
The versatility is evident in its applications, ranging from food and beverage packaging, where it ensures the preservation of product integrity, to pharmaceutical packaging, where it meets stringent regulatory requirements. Retail sectors also benefit from the visually appealing and customizable nature of paper and paperboard packaging.
The market stands at the forefront of sustainable solutions. A growing trend toward biodegradability, regulatory support for eco-friendly practices, and continuous innovation shapes its trajectory. The enduring preference for these materials and their environmental advantages position the market for sustained growth as industries increasingly prioritize eco-conscious and efficient packaging options.
Paper and paperboard packaging Market Research Report Scope
Attributes | Details | ||
Estimated Market Size in 2024 | US$ 223.9 billion | ||
Projected Market Valuation in 2034 | US$ 351 billion | ||
CAGR Share from 2024 to 2034 | 4.6 % | ||
Forecast Period | 2024 to 2034 | ||
Historical Data Available for | 2019 to 2023 | ||
Market Analysis | Value in US$ billion | ||
Key Market Segments Covered | Key Segments of Paper and Paperboard Packaging Industry Survey By Type: • Corrugated Boxes • Boxboard • Paper Bag By Grade: • Folding Boxboard • Solid Bleached Sulfate • White Line Chipboard • Coated Unbleached Kraft Board • Others By Region: • North America • Latin America • Western Europe • Eastern Europe • South Asia and Pacific • East Asia • Middle East and Africa | ||
Key Countries Profiled |
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Key Takeaways from the Market Study
- Based on type, the corrugated boxes are projected to expand at 4.5% CAGR by 2034.
- China is estimated to register at a CAGR of 5.3% by 2034.
- South Korea experiences significant growth, projected at a CAGR of 6.6% by 2034.
- Based on grade, folding boxboard is anticipated to expand at a CAGR of 4.4% by 2034.
"A key driver of the paper and paperboard packaging market is the increasing demand from consumers for sustainable packaging solutions," comments by Ismail Sutaria (Lead Consultant, Packaging and Materials).
Competitive Landscape
The competitive landscape of the paper and paperboard packaging market is marked by intense rivalry among key players striving for market dominance. Companies focus on innovation to meet the demand for sustainable packaging solutions across diverse industries.
Strategic collaborations, mergers, and acquisitions are common, reflecting a dynamic industry where businesses aim to strengthen their market positions and offer cutting-edge solutions in response to evolving customer needs.
Leading Players Profiled in Paper and Paperboard Packaging Industry, 2024-2034
- Amcor Ltd.
- ITC Ltd.
- Cascades Inc.
- RockTenn Company
- Clearwater Paper Corporation
- Packaging Corporation of America
- DS Smith Plc.
- Mondi Group
- Metsa Group
- Nippon Paper Industries Co., Ltd
- Georgia-Pacific LLC
Purchase this report now to get key companies with their Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis.
Some key market developments are:
- In 2022, FRESH PACKING partnered with Mondi to introduce an innovative cooler bag, the Fresh Bag. Crafted entirely from Mondi's kraft paper, the Fresh Bag enhances cooling protection by up to 2.5 times. This sustainable packaging solution replaces non-recyclable multi-material packaging, providing consumers with an eco-friendly option for transporting chilled or frozen foods.
- In 2022, Smurfit Kappa expanded its presence in Brazil by acquiring PaperBox, a packaging facility in Saquarema, 70 km east of Rio de Janeiro. This strategic move significantly broadened Smurfit Kappa's operational footprint in Brazil, complementing its existing Rio Grande do Sul, Minas Gerais, and Ceará facilities.
More Valuable Insights Available
Future Market Insights offers an unbiased global paper and paperboard packaging market analysis, providing historical data from 2019 to 2023 and forecast statistics from 2024 to 2034
To understand paper and paperboard packaging market opportunities are segmented based on Type (Corrugated Boxes, Boxboard, Paper Bag), Grade (Folding Boxboard, Solid Bleached Sulfate, White Line Chipboard, Coated Unbleached Kraft Board, Others), and Region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, Middle East and Africa).
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About the Packaging Team at Future Market Insights
The packaging team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations to provide authentic insights and accurate results to help clients worldwide. With over 100+ reports and one million+ data points, the team has analyzed the industry lucidly in 50+ countries for over a decade. The team briefly analyzes key trends, including competitive landscape, profit margin, and research development efforts.
About the Author:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail's strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor's Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show - Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
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