Market Size of Asia Pacific Paper Packaging Industry
| 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.
