Asia Paper Packaging Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 207.75 Billion |
| Market Size (2029) | USD 265.27 Billion |
| CAGR (2024 - 2029) | 5.01 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Asia Paper Packaging Market Analysis
The Asia Pacific Paper Packaging Market size is estimated at USD 207.75 billion in 2024, and is expected to reach USD 265.27 billion by 2029, growing at a CAGR of 5.01% during the forecast period (2024-2029).
With the outbreak of COVID-19, the demand for corrugated board packaging in the region is witnessing significant growth due to transport packaging flowing of essential products, such as packaging for food and other consumer products, medical and pharmaceutical products, and tissue and hygiene products.
- Various paper and packaging vendors operating in the region are optimistic about their prospects in 2021 and the following years, owing to Vietnam's stable business situation. Moreover, according to SSISecurities Joint Stock Company, in Vietnam, the consumption of paper packaging is expected to increase by 12% during the period 2021-2025
- Over the coming years, paper packaging vendors operating in the country are expected to expand further their production facilities to cater to the increasing demand. For instance, TetraPak Binh Duong has one of the largest capacity factories in Vietnam's paper industry; the company can produce about 12 billion paper boxes/per year and has the ability to expand to 20 billion paper boxes a year.
- Recycled corrugation liner (also called Kraft) was always the most significant part of Indian paper production. While current total Indian paper production would be around 18 million tons, recycled corrugated liner makes up more than 8 million tons, and it is growing better than the other varieties. In former days, recycled liner and corrugated boxes were considered low value.
- The e-commerce industry has emerged as a significant player in recent years, with Amazon using corrugated board boxes for the principal packaging and relying on plastic packaging for individual items. The increasing concerns of Thai people associated with packaging wastes are likely to compel the government to make regulations that prompt the citizens to adopt environment-friendly options, such as folding cartons or corrugated boxes, as a viable choice for packaging.
Asia Paper Packaging Market Trends
This section covers the major market trends shaping the APAC Paper Packaging Market according to our research experts:
Folding Carton is Expected to Grow Significantly
- Folding carton packaging is one of the most famous eco-friendly packaging solutions. The applications range from simple local store solutions to electrical equipment packaging solutions. The primary users of the solutions include the food and beverage sector, the e-commerce industry, and household goods. The product's ability to be produced in various sizes makes it feasible in almost all end-user verticals.
- The increased raw material prices in recent years have promoted the practice of recycling in the region, especially in the E-commerce industry. The Asia Pacific is the largest e-commerce economy in the world. With increasing mobile and internet penetration in countries like India, China, and Indonesia, the E-commerce industry is likely to stay ahead of others in demand for folding carton packaging.
- Campaigns like Make in India and the preparations for Tokyo Olympics have marginally increased the opportunities for the folding carton packaging market in the region. With the constant growth in the region forecasted by the World Bank, Asia Pacific is expected to emerge as a hot spot for folding carton packaging solutions.
- Folding carton packaging is witnessing significant demand from food and beverage, pharmaceuticals, and retail. According to the India Folding Carton Association, the Indian consumer packaging market is expected to reach INR 1,500 billion (USD 18.21 billion) by 2022 due to the widespread adoption of organized retail.
- Emami Paper Mills is also investing USD 285 million to set up a 4,50,000 metric ton per annum multi-layer coated paper and packaging board manufacturing plant at Bharuch in Gujarat to cater to this potential untapped market.
- Some end-user companies require high-quality print media to display their brand image on their packaging when it comes to packaging. Cardboard boxes have excellent print reproducibility and can provide additional effects and finishes that are more visually appealing at the point of sale and more accurately reflect the image displayed on the package. This trend is likely most pronounced in specific market segments such as cosmetics and beauty products.
India is Expected to Hold a Significant Market Share
- In India, packaged foods are gaining high traction owing to busy work schedules, the rising number of working women, and the shift toward on-the-go consumption, which is, in turn, expected to ascend the utilization of innovative and sustainable packaging across the food sector. This is likely to fuel the market's growth over the forecast period.
- E-commerce has changed the way people do business in India. The Indian E-commerce market is expected to grow to USD 200 billion by 2026, up from USD 38.5 billion in 2017. The Indian online grocery market is expected to grow at a 57% CAGR from USD 1.9 billion in 2019 to USD 18.2 billion in 2024., according to IBEF. This expansion in both sectors will increase demand for paper-based packaging.
- With growing awareness, the requirement for eco-friendly and sustainable packaging is steadily rising. The country is focusing more on sustainable solutions, which is increasingly becoming a business imperative.
- Companies like Evirocor in India provide eco-friendly food packaging products to food outlets, restaurants, hotels, hospitals, factories, caterers, and all other users. The rise in the usage of eco-friendly packaging is expected to drive the market's growth.
- Due to its lightweight, biodegradable, and recyclable features, the ongoing recycling rate and improving logistical efficiency are the major trends of this market. According to the All India Plastics Manufacturing Association, India will eliminate single-use plastics by 2022. However, the high cost of production and technological obsolescence are the major market restraints for this market.
Asia Paper Packaging Industry Overview
Asia Pacific Paper Packaging Market is moderately fragmented, owing to the presence of some key players such as SCG Packaging PCL, Huhtamaki Group, Tetra Pak, Toppan Printing Co. Ltd, International Paper Company, and many more. But none of them single-handedly dominates the market. Through continuous research and development activities, the players in the market have been able to bring about innovations in their offerings that allow them to provide sustainability to their consumers.
- August 2022 -New industrial eco packaging from BASF and Nippon Paint China. The German chemical company BASF and the coatings manufacturer Nippon Paint China have collaborated to introduce eco-friendly industrial packaging, which will be used in the Nippon Paint dry-mixed mortar series products. The dry-mixed mortar series products from Nippon Paint are expected to save thousands of tonnes of plastic and reuse nearly 10,000 tonnes of paper bags yearly. To replace plastics with paper in the industrial packaging sector, water-based Joncryl HPB dispersions are used in construction materials packaging.
Asia Paper Packaging Market Leaders
SCG Packaging PCL
Huhtamaki Group
Sarnti Packaging Co. Ltd
International Paper Company
Oji Holdings Corporation
*Disclaimer: Major Players sorted in no particular order
Asia Paper Packaging Market News
- February 2022 - Tetra Pak, a global leader in packaging and processing solutions, has launched India's first locally manufactured holographic packaging material. Tetra Pak Reflect packaging was developed in collaboration with Warana, a leading co-operative dairy, for their 1 liter Ghee (clarified butter) packs. The artistic package is intended to assist food and beverage companies to add a new eye-catching dimension to their packaging..
- Februrary 2022 - Amcor has launched a new paper-based packaging platform. The AmFiber innovations seek to redefine the capabilities of traditional paper packaging by offering a broader range of features and functional benefits to meet the changing needs of consumers.
- October 2021 - Oji Holdings Corporation announced the acquisition of a corrugated container manufacturer in India. It acquired 80% shares of Empire Packages Private Limited. Empire has a strong customer base in the Northern Delhi area, and the company is going to expand its corrugated container business in India
Asia Paper Packaging Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Assessment of the Impact of COVID-19 on the Paper Packaging Market
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Sustained rise in E-commerce sale to drive demand for Folding Cartons
5.1.2 Growing emphasis on the use of recycled paper by major end-users to aid the transition to Paper packaging materials
5.1.3 Growing share of healthcare and cosmetic segments
5.2 Market Challenges
5.2.1 Challenges Related to Availability of Raw Materials leading to Price Fluctuations
6. MARKET SEGMENTATION
6.1 By Product Type
6.1.1 Corrugated and Solid fiber Boxes
6.1.2 Folding carton
6.1.3 Other Types of Products (Flexible Paper & Liquid Paperboard)
6.2 By End-user Industry
6.2.1 Food
6.2.2 Beverage
6.2.3 Healthcare & Pharmaceutical
6.2.4 Other End-user Industries
6.3 By Country
6.3.1 China
6.3.2 India
6.3.3 Japan
6.3.4 Indonesia
6.3.5 Thailand
6.3.6 Vietnam
6.3.7 Rest of Asia Pacific
7. COMPETITIVE LANDSCAPES
7.1 Company Profiles*
7.1.1 SCG Packaging PCL
7.1.2 International Paper Company
7.1.3 Sarnti Packaging Co. Ltd
7.1.4 Oji Holdings Corporation
7.1.5 Pura Group
7.1.6 Huhtamaki Group
7.1.7 Harta Packaging Industries (Selangor) Sdn Bhd
7.1.8 Tetra Pak
7.1.9 Hong Thai Packaging Company Limited
7.1.10 New Asia Industries Co. Ltd (Rengo Co. Ltd)
7.1.11 C&H Paperbox (Thailand) Co. Ltd
7.1.12 Continental Packaging (Thailand) Co. Ltd
7.1.13 Toppan Printing Co. Ltd
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
Asia Paper Packaging Industry Segmentation
The study tracks the demand for Paper Packaging Market through the revenue accrued through the various paper packaging product offered by vendors operating in the market. The current trade scenario and the major import-export countries are also analyzed in the study. The Asia-Pacific Paper Packaging Market is segmented by Product Type (Corrugated and Solid Fiber Boxes, Folding Carton), By End-User Industry (Food, Beverage, Healthcare, Home and Personal Care), and Country. The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.
| By Product Type | |
| Corrugated and Solid fiber Boxes | |
| Folding carton | |
| Other Types of Products (Flexible Paper & Liquid Paperboard) |
| By End-user Industry | |
| Food | |
| Beverage | |
| Healthcare & Pharmaceutical | |
| Other End-user Industries |
| By Country | |
| China | |
| India | |
| Japan | |
| Indonesia | |
| Thailand | |
| Vietnam | |
| Rest of Asia Pacific |
Asia Paper Packaging Market Research FAQs
How big is the Asia Pacific Paper Packaging Market?
The Asia Pacific Paper Packaging Market size is expected to reach USD 207.75 billion in 2024 and grow at a CAGR of 5.01% to reach USD 265.27 billion by 2029.
What is the current Asia Pacific Paper Packaging Market size?
In 2024, the Asia Pacific Paper Packaging Market size is expected to reach USD 207.75 billion.
Who are the key players in Asia Pacific Paper Packaging Market?
SCG Packaging PCL, Huhtamaki Group, Sarnti Packaging Co. Ltd, International Paper Company and Oji Holdings Corporation are the major companies operating in the Asia Pacific Paper Packaging Market.
What years does this Asia Pacific Paper Packaging Market cover, and what was the market size in 2023?
In 2023, the Asia Pacific Paper Packaging Market size was estimated at USD 197.84 billion. The report covers the Asia Pacific Paper Packaging Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia Pacific Paper Packaging Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Asia Pacific Paper Packaging Industry Report
Statistics for the 2024 Asia Pacific Paper Packaging market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Asia Pacific Paper Packaging analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
