by The global paper and paperboard packaging market size was estimated to be around US$ 421.5 billion in 2022. It is projected to reach US$ 670.38 billion by 2032, indicating a CAGR of 4.80% from 2023 to 2032.
Key Takeaways
- North America held the largest share of the market at 36% in 2022.
- Asia Pacific is projected to expand at the fastest CAGR during the forecast period.
- The folding cartons segment held the largest market share of 53% in the paper and paperboard packaging market in 2022.
- The corrugated boxes segment is expected to grow at a notable CAGR of 7.1% over the projected period.
- The food and beverages segment had the largest market share of 69% in 2022.
- The personal care segment is predicted to grow at a remarkable CAGR during the forecast period.
The Paper and Paperboard Packaging Market has witnessed substantial growth in recent years, driven by a combination of environmental concerns, cost-effectiveness, and increased demand for sustainable packaging solutions. As businesses and consumers alike prioritize eco-friendly alternatives, paper and paperboard packaging have emerged as key players in the packaging industry. This market encompasses a diverse range of products, including corrugated boxes, cartons, and various paper-based packaging materials. The versatility of paper and paperboard allows for customization, making it suitable for packaging across multiple industries.
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Growth Factors: Several factors contribute to the growth of the Paper and Paperboard Packaging Market. Environmental consciousness is a major driver, with businesses opting for recyclable and biodegradable packaging options. The lightweight nature of paper and paperboard materials reduces transportation costs and, consequently, the overall carbon footprint. Additionally, advancements in printing technologies have allowed for intricate and visually appealing designs on paper-based packaging, enhancing its market appeal. As e-commerce continues to thrive, the demand for efficient and sustainable packaging solutions further fuels the growth of this market.
Paper and Paperboard Packaging Market Scope
| Report Coverage | Details |
| Market Size in 2023 | USD 439.62 Billion |
| Market Size by 2032 | USD 670.38 Billion |
| Growth Rate from 2023 to 2032 | CAGR of 4.80% |
| Largest Market | North America |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Segments Covered | By Product Type and By End-user |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
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Region Snapsot:
The Paper and Paperboard Packaging Market exhibits a global presence, with significant growth observed across various regions. Asia-Pacific stands out as a dominant player, driven by the expanding manufacturing sector and the rising middle-class population. China, in particular, is a key contributor to the market, both as a major consumer and producer of paper and paperboard packaging.
North America and Europe also play crucial roles, with a focus on sustainable practices propelling the market forward. South America and Africa show potential for growth, driven by increased consumer awareness and a shift towards environmentally friendly packaging solutions. The market’s dynamic nature ensures that it remains responsive to evolving consumer preferences and regulatory changes across different regions.
Recent Developments
- In 2022, WestRock Company successfully acquired Grupo Gondi’s remaining interest for USD 970 million plus debt assumption. The acquisition includes four paper mills, nine corrugated packaging facilities, and six high graphic facilities in Mexico. This strengthens WestRock’s position in Latin America’s expanding corrugated packaging, consumer goods, paperboard, and containerboard markets.
- In 2022, Mondi concluded the merger of Mondi Tire Kutsan and Mondi Olmuksan to create Mondi Turkey Oluklu Mukavva. This new entity, part of Mondi’s corrugated packaging business, operates nine corrugated packaging facilities, a containerboard mill in Tire, Turkey, and a wastepaper collection facility in Adana, Turkey. Mondi holds an 84.65% ownership in Mondi Turkey Oluklu Mukavva, which employs approximately 1,600 workers and is traded on the Istanbul Stock Exchange (BIST).
- In 2022, In collaboration with FRESH!PACKING, Mondi introduced the Fresh!Bag, an advanced cooler bag designed for transporting frozen or chilled foods. The bag’s exterior layer is constructed entirely from Mondi’s robust kraft paper, replacing non-recyclable multi-material packaging. The cooling section is made from Ipulp, enclosed in recyclable kraft paper, simplifying bag construction.
- In 2022, Smurfit Kappa announced its acquisition of PaperBox, a packaging facility located in Saquarema, Brazil. This strategic move expanded Smurfit Kappa’s operational footprint in Brazil, complementing its existing presence in Minas Gerais, Rio Grande do Sul, and Ceará, strengthening the company’s position in the Brazilian packaging market.
Reasons to Purchase this Report:
- Comprehensive market segmentation analysis incorporating qualitative and quantitative research, considering the impact of economic and policy factors.
- In-depth regional and country-level analysis, examining the demand and supply dynamics that influence market growth.
- Market size in USD million and volume in million units provided for each segment and sub-segment.
- Detailed competitive landscape, including market share of major players, recent projects, and strategies implemented over the past five years.
- Comprehensive company profiles encompassing product offerings, key financial information, recent developments, SWOT analysis, and employed strategies by major market players.
Paper and Paperboard Packaging Market Players
- International Paper Company
- WestRock Company
- Smurfit Kappa Group
- Mondi Group
- DS Smith Plc
- Georgia-Pacific LLC
- Tetra Pak International S.A.
- Amcor plc
- Sonoco Products Company
- Sealed Air Corporation
- Huhtamaki Oyj
- Cascades Inc.
- Graphic Packaging Holding Company
- BillerudKorsnäs AB
- Mayr-Melnhof Karton AG
Segments Covered in the Report
By Product Type
- Folding Cartons
- Corrugated Boxes
- Others
By End-user
- Food
- Beverage
- Healthcare
- Personal Care
- Electrical
- Other
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
TABLE OF CONTENT
Paper and Paperboard Packaging Market Players
- International Paper Company
- WestRock Company
- Smurfit Kappa Group
- Mondi Group
- DS Smith Plc
- Georgia-Pacific LLC
- Tetra Pak International S.A.
- Amcor plc
- Sonoco Products Company
- Sealed Air Corporation
- Huhtamaki Oyj
- Cascades Inc.
- Graphic Packaging Holding Company
- BillerudKorsnäs AB
- Mayr-Melnhof Karton AG
Segments Covered in the Report
By Product Type
- Folding Cartons
- Corrugated Boxes
- Others
By End-user
- Food
- Beverage
- Healthcare
- Personal Care
- Electrical
- Other
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
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