Paper Packaging Market, Size, Global Forecast 2022-2027, Industry Trends, Growth, Impact of COVID-19, Opportunity Company Analysis
発行: Renub Research
ページ情報: 英文 115 Pages
Global Paper Packaging Market will reach US$ 496.88 Billion by 2027. Consumers nowadays prefer eco-friendly products over other packaging solutions like metals and plastics. Paper and paper-based packaging materials are the most versatile and oldest packaging materials available on the market. They are ironic material: they can be gentle or firm, cheap or expensive, permanent or temporary, in plenty or limited. Paper packaging refers to various flexible and rigid packaging materials, including Liquid Packaging cartons, corrugated cases, Carton and Folding boxes, and others.
Notwithstanding, the growing retail and e-commerce industries, along with the ever-increasing demand for environment-friendly packaging products, currently represent the key factors driving the market's growth. With the rapid increase in online shopping platforms, the necessity for paper packaging products has escalated immensely. Likewise, growing consumer consciousness regarding sustainable packaging and favorable government policies boost market growth. Governments of various emerging and developed nations are promoting paper-based products as an alternative to plastic for minimizing toxin levels and pollution in the environment.
The paper packaging industry saw some significant issues due to the COVID-19 pandemic, including the effects of nationwide lockdown, companies pushing to source away from China, and reconsidering materials used in packaging. Although the supply side of paper packaging has witnessed a practical impact, a drastic growth in the end-user demand in some applications has expanded the scope of paper packaging.
Based on the end-user industry, the paper packaging market is segmented into Food, Beverage, Healthcare, Personal and Homecare, and Others. The food and beverage segment is to demonstrate the highest growth due to the high demand for food products globally. Paper packaging is the primary asset of the food industry. It is environment-friendly and raises the nicety for consumers. There is a significant competitor in the food and beverage market among the players who deliver quality products. Various paper packaging materials in the market are available to fulfill the different packaging needs, like cardboard boxes and corrugated boxes.
Regionally, the Asia Pacific paper packaging market is currently witnessing robust growth. The rising number of manufacturing plants all over the region, combined with the growing consumerism and transit packaging sector in the Asia Pacific, contributes to the growth of the paper packaging market. Due to the increasing need for paper pulp in developing countries such as India and China, the region will grow fastest. An upsurge in the transit packaging sector in China, combined with growing consumerism, leads to a rapidly rising demand for paper packaging. Furthermore, there is an escalating rate of exports in the developing logistics sector as the corrugated boxes are anticipated to dominate the market in this region. Vital industries like the fast-growing middle-class population and fast-moving consumer goods (FMCG) and cosmetics encourage the demand for paper packaging in the region.
The paper packaging market is fragmented. It is a highly competitive market with several players such as WestRock Inc., International Paper Company Inc., Packaging Corporation of America, Amcor Ltd, Mondi Group, Smurfit Kappa Group, DS Smith PLC, Holmen. These companies keep innovating and entering into strategic partnerships to retain their market share.
Renub Research report titled "Paper Packaging Market, Global Forecast by Product (Liquid Packaging cartons, corrugated cases, Carton and Folding boxes, and others), Region (North America, Europe, Asia- Pacific, and ROW), End-Users (Food, Beverage, Healthcare, Personal and Homecare, and Others), Company Analysis (WestRock Inc., International Paper Company Inc., Packaging Corporation of America, Amcor Ltd, Mondi Group, Smurfit Kappa Group, DS Smith PLC, Holmen)" provides a detailed analysis of global water purifier market.