The Packing Paper Market is anticipated to have an effective CAGR of 4.8% during the period of 2022 to 2032.
The packing paper market is expected to expand from USD 45.3 Billion in 2022 to USD 72.4 Billion in 2032. Previously, the market grew at a faster rate of 4.3% from 2015 to 2021, culminating in a market of USD 41.50 Billion in 2021.
| Attributes | Details |
|---|---|
| Packing Paper Market CAGR (2022 to 2032) | 4.8% |
| Packing Paper Market Size (2022) | USD 45.3 Billion |
| Packing Paper Market Size (2032) | USD 72.4 Billion |
A growing retail and e-commerce industry, as well as a growth in demand for environmentally friendly packaging products, represent the key drivers of the market at present.
Significant growth in the number of online shopping platforms has driven an increase in the demand for secondary and tertiary packaging products. Furthermore, changing consumer attitudes regarding sustainable packaging and the implementation of favourable government policies are stimulating the packing paper market growth.
A growing retail and e-commerce industry, as well as a growth in demand for environmentally friendly packaging products, represent the key drivers of the market at present.
Significant growth in the number of online shopping platforms has driven an increase in the demand for secondary and tertiary packaging products. Furthermore, changing consumer attitudes regarding sustainable packaging and the implementation of favourable government policies are stimulating the packing paper market growth.
The governments of many developed and developing nations are encouraging people to use paper-based products as an alternative to plastic in order to help reduce pollution and toxin levels in the environment.
Another significant growth factor will come from the rapidly expanding food and beverage industry around the world. The food industry is moving towards adopting food-grade paper packaging products to hold on to the nutrients and preserve the quality of the foods.
The paper packaging market is also expected to grow in the coming years due to innovations to enhance the efficiency of the product as well as to produce visually appealing versions of the product
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The growth of the packing paper market has been hampered by fierce competition from flexible plastic packaging.
Plastic packaging that can bend provides a major advantage to manufacturers and retailers regarding shipping and warehousing costs. This can reduce the overall weight of packaging, thereby enabling manufacturers and retailers to create more space.
With retort pouches, consumers can enjoy convenient features such as convenient single-serve portions, easy-to-open, and easy-peel formats. In addition, food tastes better in retort pouches than in traditional tin cans.
The overall packaging cost of flexible packaging is 40% less than rigid packaging. This results in a 50% reduction in landfill waste and a 62% reduction in greenhouse gas (GHG) emissions. Consequently, many product packaging manufacturers and package converters are opting for flexible packaging materials because of their ease of use, portability, cost savings, and health benefits.
Increasingly, modern shoppers are considering convenience and portability as top priorities, so packaging design has shifted toward flexible, easy-to-handle packaging. The gusseted flexible pouch is now the packaging of choice for snacks that were once packaged in jars and tins. In addition to food producers and nutraceutical packagers, flexible pouches are also well-suited to gels and liquids.
A company has already closed its wood yard and pulp mill in Port Hudson, LA. This was due to concerns around the environment, which included depleting forests, which certainly was not required. This has been one of the factors limiting the development of the paper packaging market.
Market Opportunities in the Packaging Paper Market are associated with the replacement of plastic packaging for food applications in developing countries.
Globally, India and China have the fastest-growing economies. Developmentally, developing countries still use a great deal of plastic packaging compared to the developed nations of the west. Since plastic is cost-effective and convenient for consumers, it is the perfect material for packaging.
Companies are slowly moving towards providing paper and carton packaging solutions in light of increasing environmental concerns and stringent government policies. A great deal of effort has been put into innovation in order to develop cost-efficient products with similar utility and added benefits to the consumer.
A paper packaging coating that involves bioactive materials has been developed by researchers at the Fraunhofer-Gesellschaft as part of the BioActiveMaterials project. Not only does this coating reduce plastic use, but the coating of plant-based proteins and waxes also increases the shelf life of the food.
After use, the packaging can be placed in the waste paper recycling bin for disposal. In the BioActiveMaterials project, researchers use paper as the base material for producing typical and functional packaging materials: resealable bags or wrapping paper. The paper is provided with a special coating using standard processes.
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Paper packaging gains momentum with a ban on lightweight plastic bags" Comparatively to other materials such as metals and plastics, paper packaging materials can be reused and recycled. As a result, paper packaging is among the most environmentally friendly and economical packaging options.
As consumers become more aware of plastic's harmful effects on the environment, the global paper packaging market is experiencing a rising demand for flexible paper packaging. The ban on lightweight plastic bags in some countries during the forecast period is expected to drive demand for paper packaging. Corrugated boxes and cartons are expected to experience continuous growth in demand in the coming years.
Due to the growing demand for packaging in key end-use industries such as food & beverage, electrical & electronics, and e-commerce, there is expected to be significant growth in the demand for corrugated boxes and cartons during the forecast period.
The cost-effectiveness and optimum protection characteristics of corrugated boxes and cartons are key factors driving the global paper packaging market. There is widespread use of paper packaging as a secondary and tertiary packaging solution for products in a variety of industries.
As online shopping becomes increasingly popular in developed and developing countries like Germany, the USA, India, and China, paper packaging demand is expected to grow significantly over the next four to five years.
Moreover, with the rise in online shopping platforms, other flexible paper packaging solutions, such as corrugated boxes, folding cartons, and other paper-based packaging products that offer optimal protection during shipping and handling, will also gain a strong foothold in the global paper packaging market.
Packaging made from paper can be recycled easily and does not pose a threat to the environment. With the global push for recycling in the paper packaging industry, recycling businesses across the globe will have enormous opportunities. In addition, recycled paper packaging offers distinct cost advantages for the production of corrugated boxes, cartons, and other paper packaging solutions.
Declining hardwood pulp and lumber production markets in the US have led to decreased demand for boxboard, hardwood pulp derivatives, and other goods made of hardwood pulp.
The paper packaging materials market in North America and Europe has experienced significant growth due to increased paper packaging use. North America and Europe accounted for over half the global demand for paper packaging materials.
Because of the growth in the overall packing industry in the region, the Asia Pacific market will continue to show the fastest growth for paper packaging in the coming years.
A significant share of the market is expected to be gained by the roW during the forecast period due to the emerging packaging industry in these regions and increased per capita spending by consumers. Further growth in demand and consumption for consumer goods will drive the need for more paper packaging market throughout the world.
In addition to China, Japan, South Korea, and the Rest of East Asia, the paper packaging market in East Asia provides a country-level analysis. Among the paper packaging markets in East Asia, East Asia holds the largest share in terms of value. Paper packaging in East Asia is expected to grow at a CAGR of 4.2% during the forecast period.
The North American and European market is steady, as they are considering switching to 100% paper to avoid deforestation. Africa could still boast of dense forests. The paper packaging thing hasn’t reached its full potential yet.
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India and China have the fastest-growing economies. Developmentally, developing countries still use a great deal of plastic packaging compared to the developed nations of the west. Since plastic is cost-effective and convenient for consumers, it is the perfect material for packaging.
Companies are slowly moving towards providing paper and carton packaging solutions in light of increasing environmental concerns and stringent government policies. A great deal of effort has been put into innovation in order to develop cost-efficient products with similar utility and added benefits to the consumer.
Georgia Pacific announced recently that it is leaving its paper business and will shut down all its paper machines permanently. Another company has already closed its wood yard and pulp mill in Port Hudson, LA.
This was due to concerns around the environment, which includes depleting forests.
A number of notable players are operating in the global cardiac reconstruction devices market, including The Packaging Company, Packhelp, Ruskin Group, Purple Co, Moraya Packaging, Pratt Industries, Inc., Mondi Group plc, WestRock Company, Oji Holdings Corporation, DS Smith Packaging Limited, Tat Seng Packaging Group.
Recent Developments in the Packing Paper Market
The packing paper market is projected to have a CAGR of 4.8% during the forecast period.
The USA is the leading region, with an anticipated CAGR of % through 2032.
The cosmetic segment leads the market with the projected CAGR of 4.4% through 2032.
The packing paper market is predicted to grow to USD 72.4 Billion by 2032.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032 5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Material Type 5.1. Corrugated Board 5.2. Specialty Paper 5.3. Box Board/Carton Board 5.4. Kraft Board 5.5. Others 6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Package Type 6.1. Corrugated Boxes 6.2. Cartons 6.3. Wrapping Paper 6.4. Cups & Tray 6.5. Others 7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By End-Use Industry 7.1. Food and Beverage 7.2. Healthcare 7.3. Personal Care & Cosmetics 7.4. Homecare & Toiletries 7.5. E-Commerce 7.6. Chemical & Fertilizers 7.7. Others 8. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. East Asia 8.5. South Asia 8.6. Oceania 8.7. MEA 9. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 10. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 11. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 12. East Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 13. South Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 14. Oceania Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 15. MEA Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. The Packaging Company 18.2. Pack Health 18.3. Ruskin Group 18.4. Purple Co. 18.5. Morya Packaging 18.6. Pratt Industries Inc 18.7. Mondi Group Plc 18.8. Westlock Company 18.9. Oji Holdings Corporation 18.10. DS Smith Packaging Ltd. 18.11. Tat Seng Packaging Group 19. Assumptions & Acronyms Used 20. Research Methodology
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Packing Paper Market
