Paper Packaging Market - Growth, Trends, and Forecast (2019 - 2024)

The Paper Packaging Market is Segmented By Product Type (Paperboard, Containerboard, Kraft Paper, and Corrugated board), End-user Industry (Personal Care and Home Care, Food, Beverage, and Healthcare), and Geography.

Market Snapshot

paper packaging market
Study Period:

2018-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

Key Players:

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Paper Packaging Market

The paper packaging market was valued at USD 69.91 billion in 2019, and is anticipated to reach USD 85.24 billion by 2024, registering a CAGR of 4.1% during the forecast period of 2019-2024. Paper packaging is a versatile and cost-efficient method to protect, preserve, and transport a wide range of products.  In addition, it can be customized to meet the customers' needs or product-specific needs. The attributes, like lightweight, biodegradability, and recyclability, are the advantages of paper packaging that make it an essential component for packaging.   

  • The increasing consumer consciousness regarding sustainable packaging, as well as the strict regulations imposed by various environmental protection agencies (regarding the use of environment-friendly packaging products) are the factors driving the market for paper packaging. The rapid growth of online shopping and delivery-on-demand services has fueled the usage of cardboard and paper-based bags. 
  • Environment-friendly packaging solutions have become a norm rather than an exception for the packaging companies worldwide.  The profound change in corporate standards, governmental policies,  trade regulations, and consumer tastes have led to a paradigm shift toward eco-friendly solutions in the packaging market. France has banned the use of plastic bags since July 2016. According to the French Government, about 5 billion plastic bags are distributed at and 12 billion are used to pack fruit and vegetables.   
  • The major challenges faced by the paper packaging market is the inability of paper in the packaging of very heavy materials, resulting in the industry being overpowered by the polymers and metal packaging industries. Furthermore, deforestation to acquire raw material and the release of dioxins during paper production cause environmental concerns. These factors, in turn, are hindering the growth of the paper packaging market.       

Scope of the Report

Paper packaging materials can be easily reused and recycled, compared to other materials, such as metals and plastics. This is the reason for considering paper packaging as the most eco-friendly and economic forms of packaging. The growing demand for flexible paper packaging, due to the rise in consumer awareness regarding the harmful effects of plastic on the environment, is helping in the growth of the paper packaging industry to grow.                                                                                                                                    

By Product Type
Paperboard
Container board
Corrugated board
Kraft Paperboard
Other Product Types
By End-user Industry
Food
Beverage
Personal Care and Home Care
Healthcare
Other End-user Industries
GEOGRAPHY
North America
United States
Canada
Europe
United Kingdom
Germany
France
Others
Asia-Pacific
China
Japan
India
Others
Latin America
Argentina
Brazil
Mexico
Others
Middle East & Africa
Saudi Arabia
United Arab Emirates
Others

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Key Market Trends

Food and Beverage Expected to Hold Significant Market Share

  • Paper packaging is the main asset of the food industry. It is environment-friendly and increases the convenience for consumers. Due to this, there is significant competition in the food and beverage market among the players who provide quality products to the consumers. Various packaging materials in the market are available to fulfill the diverse packaging needs, like corrugated boxes and cardboard boxes.         
  • There is fierce competition among the quality-product providers in the food market. Due to these reasons, various manufacturers in the food market are continuously making and delivering high-quality products. There is an increase in the number of hypermarkets and supermarkets. This factor is expected to be one of the key factors driving the demand for paper and paperboard containers. This, in turn, is expected to drive the growth of the packaging market in the future.       
  • Many retail stores use packaging materials to preserve food and to retain the nutritional value of foods. Due to the increase in the number of consumers purchasing grocery items (like includes frozen and chilled foods), the market is expected to witness growth in the future.
  • The regional food and beverage sector in the Middle East region is acting as a significant driver for the adoption of paper packaging. According to Alpen Capital, local food consumption is expected to reach 51.9 million metric ton in 2019.   
paper packaging market

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Asia-Pacific Expected To Have Significant Growth

  • Asia-Pacific is expected to have significant growth. The increasing number of manufacturing plants all over the region, combined with the growing consumerism and transit packaging sector in the Asia Pacific, is contributing to the growth of the paper packaging market.
  • Due to the increasing demand for paper pulp in developing countries such as China and India, the region is expected to be the fastest growing region. There is an increase in the transit packaging sector in China, combined with growing consumerism, which is leading to a rapidly growing demand for paper packaging.
  • Paper packaging demand has been growing at a rate of 6.5% since 2008, far higher than anywhere else in the world. Along with this demand for paper packaging, the demand for recycled paper is also increasing.
  • There is an escalating rate of exports in the developing logistics sector as the corrugated boxes are expected to dominate the market in this region. Due to strong growth in sectors, like fast-moving consumer goods (FMCG) and cosmetics, the fast-growing middle-class population is expected to encourage the demand for paper packaging in the region.
paper packaging market

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Competitive Landscape

The paper packaging market is fragmented. It is a highly competitive market with a number of players in the market. There is no dominant player present in the market.  

For instance, in 2017, WestRock acquired all the assets of Plymouth Packaging Inc. The acquisition of Plymouth Packaging enhanced WestRock’s innovation platform and differentiation strategy. The addition of the ‘Box on Demand’ system enhanced WestRock’s automated packaging systems business and differentiation in e-commerce and other custom applications, where on-site box making is needed. The acquisition is also intended to improve the company’s margin profile and growth prospects in the corrugated packaging business.

Major Players

  1. Westrock Inc.
  2. International Paper Company
  3. Amcor Ltd
  4. Kapstone LLC
  5. Mondi Group

* Complete list of players covered available in the table of contents below

paper packaging market

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Introduction to Market Drivers and Restraints

    3. 4.3 Market Drivers

      1. 4.3.1 Development of Barrier-coated Paperboard Products

      2. 4.3.2 Growing Consumer Awareness on Paper Packaging

    4. 4.4 Market Restraints

      1. 4.4.1 Effects of Deforestation on Paper Packaging

      2. 4.4.2 Increasing Operational Costs

    5. 4.5 Industry Attractiveness - Porter's Five Force Analysis

      1. 4.5.1 Bargaining Power of Suppliers

      2. 4.5.2 Bargaining Power of Buyers/Consumers

      3. 4.5.3 Threat of New Entrants

      4. 4.5.4 Threat of Substitute Products

      5. 4.5.5 Intensity of Competitive Rivalry

    6. 4.6 Industry Value Chain Analysis

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product Type

      1. 5.1.1 Paperboard

      2. 5.1.2 Container board

      3. 5.1.3 Corrugated board

      4. 5.1.4 Kraft Paperboard

      5. 5.1.5 Other Product Types

    2. 5.2 By End-user Industry

      1. 5.2.1 Food

      2. 5.2.2 Beverage

      3. 5.2.3 Personal Care and Home Care

      4. 5.2.4 Healthcare

      5. 5.2.5 Other End-user Industries

    3. 5.3 GEOGRAPHY

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

      2. 5.3.2 Europe

        1. 5.3.2.1 United Kingdom

        2. 5.3.2.2 Germany

        3. 5.3.2.3 France

        4. 5.3.2.4 Others

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Others

      4. 5.3.4 Latin America

        1. 5.3.4.1 Argentina

        2. 5.3.4.2 Brazil

        3. 5.3.4.3 Mexico

        4. 5.3.4.4 Others

      5. 5.3.5 Middle East & Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 United Arab Emirates

        3. 5.3.5.3 Others

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 WestRock Inc.

      2. 6.1.2 International Paper Company Inc.

      3. 6.1.3 Kapstone LLC

      4. 6.1.4 Evergreen Group (Reynolds Group Holding Ltd)

      5. 6.1.5 Packaging Corporation of America

      6. 6.1.6 Amcor Ltd

      7. 6.1.7 Mondi Group

      8. 6.1.8 Sappi Ltd

      9. 6.1.9 DS Smith PLC

      10. 6.1.10 Sonoco Corporation

      11. 6.1.11 Clearwater Inc.

      12. 6.1.12 Carauster Industries Inc.

      13. 6.1.13 Tetra PaK International SA

    2. *List Not Exhaustive
  7. 7. INVESTMENT ANALYSIS

  8. 8. MARKET OPPORTUNITIES AND FUTURE TRENDS

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