Market Size of North America Paper Packaging Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 3.80 % |
| Market Concentration | Medium |
Major Players.webp)
*Disclaimer: Major Players sorted in no particular order |
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North America Paper Packaging Market Analysis
North America continues to be one of the leading markets for paperboard packaging products, with a host of players operating in the country. The paper packaging consumption in North America is expected to grow at the rate of 3.8% CAGR through the forecast period 2021-2026.
- The United States dominates the folding carton packaging market in the North American region, where food is expected to continue as the primary end-user of folding cartons. For instance, according to the Association for Packaging and Processing Technologies, the US food industry is likely to proliferate at a steady rate of 2.9% CAGR through 2022.
- Cartons that are branded and protect products and provide consumers additional value after purchase are being invested in due to the increasing demand for reusability among consumers. For instance, WestRock, one of the major vendors of paperboard solutions, recently showcased one such carton for Asahi beer, wherein the structural design of the bottom tray enables the pack to display cans and hold ice. Multi-use designs, like the Jägermeister carton designed to illuminate parties and the paperboard Ferris wheel that can also serve as a showpiece, are some of the recent examples' indicative of this trend.
- Another end-user that extensively relies on paperboard-based packaging is the retail industry. E-commerce as an industry has doubled in the last five years, with Amazon setting the pace with more than 50 million prime subscribers.
- Corrugated packaging has emerged as a key driver of this market due to its evolution as a point-of-sale display in retail applications, coupled with continuous development in small flute and high-quality graphics board, which is enabling corrugated boxes to penetrate traditional folding carton applications.
- In May 2020, US-based market vendor, International Paper, donated 2 million corrugated boxes due to the dramatic increases in demand for food assistance driven by the economic impact of the COVID-19 pandemic. Many industry experts also claim that food packaging will be the paper packaging industry's largest area of activity in 2020. The USD 900 billion per year worldwide industry will provide a massive opportunity to the sector.
