The global Paper Packaging Market is estimated to attain USD 3,83,867.8 million by the end of 2023. The market is stipulated to witness a decent CAGR of 4.1% between 2023 and 2033, to reach USD 5,73,705.45 million by the year 2033.
Paper Packaging Market - Drivers
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| Attributes | Details |
|---|---|
| Paper Packaging Market Size (2023) | USD 3,83,867.8 million |
| Projected Market Value (2033) | USD 5,73,705.45 million |
| Global Market Growth Rate (2023 to 2033) | 4.1% CAGR |
| Dominant Packaging Type | Corrugated Boxes |
Paper packaging is among the eco-friendly and economical forms of packaging. The growing demand for flexible paper packaging due to the rise in consumers’ awareness regarding the harmful effects of plastic on the environment is another factor driving the global paper packaging market.
Moreover, a ban on lightweight plastic bags in some countries is expected to bolster the paper packaging market during the forecast period.
The demand for boxboard and liquid paper packaging has been decreasing in the last few years. All this has resulted in a 25% decrease in demand for hardwood fiber in the past 10 years.
For instance, Georgia-Pacific announced that the company is closing its paper business and is likely to permanently shut down all its paper machines in the near future.
The company has already shut down its wood yard and pulp mill plant in Port Hudson, LA. This is out of concern for the environment, i.e., the depletion of forests. This is a significant factor, which is restraining the paper packaging market.
Apart from this, a few definite influences regarding the inability of paper in the packaging of heavy materials and the release of dioxins during paper production are the factors expected to further hamper the market growth.
The paper packaging market accelerated at a speed of 3.2% CAGR in the historical period, culminating in a market worth USD 3,68,600.4 million in 2022. For the year 2023, the market is set to attain USD 3,83,867.8 million.
The ongoing trend of floating paper bottles is influencing market expansion. Going forward, paper packaging, which was a mere subset of packaging a few years back, has turned out to be the parent set with various permutations and combinations regarding paper being explored.
Future Market Insights (FMI), in its recent report analysis, estimates the market to attain USD 5,73,705.45 million by 2033, at a CAGR of 4.1%. Given below is a market break-up, based on different periods, informing key trends in their corresponding timespans.
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| Duration | Market Analysis |
|---|---|
| Short-term Growth | The market is anticipated to reach USD 4,14,803.1 million by 2025. Paper packaging offers a host of applications across food and beverage, retail, healthcare, and cosmetic industries, thus boosting its demand in the next few years. Additionally, skyrocketing online sales, which only got strengthened the post-coronavirus-inflicted offline retail sector, are also projected to continue growing. This is expected to have a positive influence over the closely associated markets similar to the corrugated shipping boxes market. |
| Medium-term Growth | By 2028 end, the market is estimated to surpass USD 4,63,445.9 million. Over this assessment period, the market is expected to observe a significant effect from the evolving food and beverage industry. The rising adoption of food-grade paper packaging materials by food manufacturing organizations to maintain the quality and nutrient content of food items is projected to stimulate market development. |
| Long-term Growth | The market is expected to amass a total of USD 5,73,705.45 million by 2033. Government authorities across the globe are encouraging the use of paper-based products as a substitute for plastic to reduce pollution and toxins present in the environment. Various product innovations to increase the efficiency of the product and to develop visually appealing variants are also propelling the growth of the paper packaging market over the forecast period. Such developments are projected to catalyze growth in the paper packaging machine market too. |
| The United States Market Size (2023) | USD 87,314 million |
|---|---|
| Estimated CAGR (2023 to 2033) | 3.1% |
| The United Kingdom Market Size (2023) | USD 8,600.8 million |
|---|---|
| Estimated CAGR (2023 to 2033) | 3.6% |
| China Market Size (2023) | USD 70,985.9 million |
|---|---|
| Estimated CAGR (2023 to 2033) | 4.5% |
| Germany Market Size (2023) | USD 14,730.9 million |
|---|---|
| Estimated CAGR (2023 to 2033) | 3.3% |
| Spain Market Size (2023) | USD 9,741.8 million |
|---|---|
| Estimated CAGR (2023 to 2033) | 4.5% |
| Year | Value |
|---|---|
| 2017 | USD 72,379.3 million |
| 2022 | USD 84,726.5 million |
| 2023 | USD 87,314 million |
| 2033 | USD 1,18,486.95 million |
The United States is projected to generate market revenue of USD 87,314 million by 2023 end. For the forecast period, the market is set to expand at a CAGR of 3.1%. Increasing demand for flexible packaging is pushing the market growth forward.
Additionally, rising investments in cartons for protection, preservation, and additional value is enhancing reusability among customers.
WestRock, a paperboard solutions vendor, developed a similar carton for Asahi beer, in which the structural engineering of the bottom tray helps the pack hold ice and display cans. Additionally, the development of multi-use designs to serve as a showpiece or to illuminate parties is projected to bolster the market growth in the country.
The retail industry is another significant user of paper packaging. The boom of e-commerce has significantly catapulted in recent years and can be justified by more than 50 million prime subscribers for Amazon. The rapidly increasing online sales are expected to propel the growth of paper packaging industry in the United States.
| Year | Value |
|---|---|
| 2017 | USD 53,679.3 million |
| 2022 | USD 67,950.6 million |
| 2023 | USD 70,985.9 million |
| 2033 | USD 1,10,238.93 million |
China paper packaging industry is set to attain USD 70,985.9 million by 2023. The market is projected to expand at a CAGR of 4.5% over the forecast period.
The manufacturing economies of China are projected to augment the sales of paper packaging in the years to come. The rise in the transit packaging sector in China and growing consumerism are driving the paper packaging industry.
The rising investment by the paper industry in paper packaging plants is projected to cater to the notably increasing demand in the country. For the forecast period, paper packaging is expected to be a suitable choice to replace polystyrene.
Several key players in the industry have already made the switch or are experimenting with paper material. The preceding developments in China are expected to help the market expand over the forecast period.
| Year | Value |
|---|---|
| 2017 | USD 1,41,594.2 million |
| 2022 | USD 1,72,145 million |
| 2023 | USD 1,78,692.7 million |
| 2033 | USD 2,59,465.93 million |
The corrugated board material is projected to observe significant demand over the upcoming years. By 2023 end, the segment is projected to attain USD 1,78,692.7 million. The segment growth rate is expected to be 3.8% CAGR from 2023 to 2033.
These boards are available in various types, adhesives, weights, treatments, coatings, and even static-control and flame-resistant qualities. Such favorable properties of corrugated boards are projected to increase their application across multiple end users.
With the thriving e-retail sales, the demand for corrugated boards is assessed to increase for storage, shipping, and packaging purposes. Adding to the rising demand for corrugated cardboard boxes, these come with cost efficiency and sustainability. Further, the lightweight properties of corrugated cardboard boxes also help with keeping the shipping costs minimum.
| Year | Value |
|---|---|
| 2017 | USD 1,51,351.8 million |
| 2022 | USD 1,88,114.3 million |
| 2023 | USD 1,96,117.6 million |
| 2033 | USD 2,95,933.25 million |
The secondary packaging segment is predicted to be valued at USD 1,96,117.6 million by 2023. Over the forecast period, the segment is forecast to expand at a CAGR of 4.2%. Increasing demand for cost-efficient secondary corrugated board packaging is set to stimulate segment growth in the years to come.
In a bid to grab more customers and retain their brand image among existing customers, brands are now increasingly using the secondary pack to bring their image to consumers’ homes for better brand recall. Companies are developing secondary packaging with superior quality and impressive strength so that consumers use less packaging and help reduce their carbon footprint.
| Year | Corrugated Boxes’ Value |
|---|---|
| 2017 | USD 88,673.1 million |
| 2022 | USD 1,07,925.6 million |
| 2023 | USD 1,11,983.3 million |
| 2033 | USD 1,61,042.62 million |
With the rising demand for paper packaging in the key end-use sectors such as e-commerce, food & beverages, and other industries, the demand for corrugated boxes and cartons is predicted to increase.
The crucial growth factor in the global paper packaging market is the low-cost and optimum protection characteristics of corrugated boxes and cartons. Paper packaging is widely used as a secondary and tertiary packaging solution to pack a variety of products in different end-use industries.
The demand for paper packaging is expected to witness substantial growth in the next 4-5 years owing to the growing popularity of online shopping in developed as well as developing countries, such as Germany, the United States, India, and China.
With the rise in online shopping platforms, the demand for paper packaging products such as corrugated boxes, folding cartons, and other flexible paper packaging solutions that offer optimum protection during shipping and handling is also expected to gain a strong foothold in the global paper packaging market.
Paper packaging can be easily recycled and does not pose any threat to the environment. The global push for recyclability in the paper packaging market is projected to create enormous opportunities for recycling companies globally.
It is also observed that recycled paper packaging offers a distinct cost advantage for the production of corrugated boxes and cartons and other paper packaging solutions.
| Year | Value |
|---|---|
| 2017 | USD 1,50,665.2 million |
| 2022 | USD 1,85,397.2 million |
| 2023 | USD 1,92,757.9 million |
| 2033 | USD 2,85,328.78 million |
Demand for paper packaging to observe high demand in the food industry. The food packaging is expected to generate a revenue of USD 1,92,757.9 million by the end of 2023. The segment is also expected to display a CAGR of 4% in the upcoming years.
Paper packaging is being increasingly utilized to package fresh foods, fast foods, and frozen foods. Additionally, the technological innovations in food packaging, including laminated and coated papers that help prevent leakage, are expected to propel the demand for paper packaging.
In addition to this, versatility, efficiency, sustainability, and innovation integrate value into food and other products.
The top 5 players in the paper packaging market hold more than 25% of the market. Though paper bottles are being churned out as the latest trend, the manufacturers are also trying to come up with better versions of corrugated boxes going forward.
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2017 to 2022 |
| Market Analysis | USD million for Value |
| Key Regions Covered | North America; Latin America; Europe; South Asia; East Asia; Oceania; and the Middle East & Africa |
| Key Countries Covered | The United States, Canada, Brazil, Mexico, Germany, the United Kingdom, France, Italy, Spain, Benelux, Russia, China, Japan, South Korea, India, Thailand, Indonesia, Malaysia, Singapore, China, Japan, South Korea, Australia, New Zealand, Türkiye, Egypt, North Africa, South Africa, and GCC Countries |
| Key Market Segments Covered | Material Type, Packaging Type, Level of Packaging, End Use, and Region |
| Key Companies Profiled | Smurfit Kappa Group Plc; Napco National Paper Products Company; Billerud; WestRock Company; Georgia Pacific LLC; Pratt Industries, Inc.; DS Smith Packaging Limited; Stora Enso Oyj; Mondi Group Plc; WestRock Company; Huhtamaki Oyj; Pactiv LLC; Sonoco Products Company; KapStone Paper and Packaging Corp; Rengo Co. Ltd.; US Corrugated Inc.; Reynolds Group Holdings; Stora Enso, UFP Technologies; ESCO Technologies Inc; Brodrene Hartmann; Mayr-Melnhof Karton AG |
| Pricing | Available upon Request |
The flexibility and cost-efficiency of paper packaging.
The market is valued at USD 3,83,867.8 million in 2023.
The United States, Japan, and China dominate the global market.
Reducing the utilization of plastic is the key trend in the market.
| Market Size, 2024 | USD 46.6 billion |
|---|---|
| Market Size, 2034 | USD 58.4 billion |
| Value CAGR (2024 to 2034) | 2.3% |
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