Market Size of Japan Paper Packaging Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Japan Paper Packaging Market Analysis
The Japanese paper packaging market is estimated to record a CAGR of about 6.0% over the forecast period.
- Japan is the world's second-largest producer of plastic waste per capita, just behind the United States. The tight international regulations in Japan are expected to encourage the manufacturers to capitalize on the rising demand for environmentally sustainable packaging materials, such as paper packaging, which can be deployed across various industries.
- Seemingly, major plastic bag suppliers in the region, such as Fukusuke Kogyo, are experiencing a decline in the demand for plastic bags at grocery stores, as customers are legally required to pay explicitly for the bags, and the company expects to witness a one-third decrease in the order soon. Also, the company announced that it was investing in materials development to lower the environmental impacts and production costs.
- Furthermore, the major paper manufacturing companies in the region, such as Nippon Paper, are aiming to capitalize on the decreasing demand for plastic and announced the expansion of paper-based barrier materials that protect the products from air and water. As per Nippon Paper, over the years, the demand for paper and paperboard packaging materials has risen as a replacement for more cost-effective plastics. Currently, paper-based packaging materials account for 70% of its total sales.
- The recent outbreak of COVID-19 and the announcement of lockdown have led to a surge in demand for essentials with sanitized packaging.Also, a recent study by the New England Journal of Medicine suggests the virus could only survive up to 24 hours on paper-based cardboard packaging compared to 72 hours on plastic-based packaging, further driving the market growth.
