Paper Packaging Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Paper and Packaging Market Report is Segmented by Grade (Carton Board (Solid Bleached Sulfate (SBS), Solid Unbleached Sulfate (SUS), Folding Boxboard (FBB), Coated Recycled Board (CRB), and Uncoated Recycled Board (URB)) and Containerboard (White-Top Kraft-Liner, Other Kraft-Liners, White Top Test-Liner, Other Test-Liners, Semi-Chemical Fluting, and Recycled Fluting)), by Product Type (Folding Cartons and Corrugated Boxes), by End-User Industry (Food, Beverage, Healthcare, Personal Care, Household Care, and Electrical Products), and by Geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa). The Market Size and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

Paper Packaging Market Size

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Paper Packaging Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 398.65 Billion
Market Size (2029) USD 501.08 Billion
CAGR (2024 - 2029) 4.68 %
Fastest Growing Market Asia
Largest Market Asia

Major Players

Paper Packaging Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Paper Packaging Market Analysis

The Paper Packaging Market size is estimated at USD 398.65 billion in 2024, and is expected to reach USD 501.08 billion by 2029, growing at a CAGR of 4.68% during the forecast period (2024-2029).

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' or product-specific needs. Attributes like lightweight, biodegradability, and recyclability are the advantages of paper packaging, making it an essential component.

  • Consumers globally are becoming more conscious of the environmental hazards of packaging and are moving their purchasing habits to more environment-friendly options. Consumers, the government, and the media are pressuring manufacturers to make their products, packaging, and processes more environmentally friendly. Also, individuals are willing to pay more for these types of conscious packaging. The paper packaging industry is anticipated to grow due to these trends.
  • The expansion of e-commerce sales and the rising demand for folded carton packaging drive the market. However, the availability of high-performance substitutes will likely restrain the market's growth. Paperboard packaging is one of the most popular eco-friendly packaging options. Compared to bulkier packaging solutions, this packaging format can be created in various sizes with a small footprint, making it suitable for use in almost all end-user sectors.
  • Moreover, consumers support the circular economy model, choosing products packaged and shipped more sustainably. Brand manufacturers aim to reduce their carbon footprint and environmental pollution by using cartonboards. E-commerce has created additional opportunities for brand manufacturers to differentiate themselves through packaging. Manufacturers can provide the essential strength to protect their products throughout the supply chain and integrate value-added features that improve the consumer experience.
  • Furthermore, retail and e-commerce rely extensively on paperboard-based packaging, with companies such as Amazon setting the pace with more than 50 million subscribers. In economies such as China and India, the e-commerce market is expected to expand because of rising internet and smartphone penetration and rapid urbanization. According to IBEF, the Indian e-commerce market is anticipated to reach USD 200 billion by the end of 2026, from USD 38.5 billion in 2017. ​
  • The challenge faced by the paper packaging market is the need for paper to package heavy materials, resulting in the industry needing to be more balanced by the polymers and metal packaging industries. Furthermore, deforestation causes the release of dioxins during paper production, causing environmental concerns. Such factors might hinder the paper packaging market.

Paper Packaging Market Trends

The Food and Beverage Segments are Expected to Hold Significant Market Share

  • Paper is among the widely used materials for food packaging. Paper is an environment-friendly packaging material, making it an ideal option for food packaging. It is mainly used to package goods directly for transporting and storing primary packages. Paper and paperboard are also used to make microwave popcorn bags, baking paper, and fast-food containers. The market for paper packaging is anticipated to be propelled by high consumer awareness of the environmental concerns of packaged food.
  • In addition, paper is one of the readily available, inexpensive resources. It is used extensively in the food and beverage sector. These materials can be recycled to create molded products for packaging applications and other beverage-containing contact items like cups, pouches, and liquid cartons.
  • Moreover, international food and beverage businesses have set objectives to make all packaging recyclable or biodegradable in response to consumer demand. For instance, Bacardi stated its intention to eliminate plastic by 2030 by inventing new paper-based beverage bottles, joining the global push against single-use plastics. This dedication to circular economy concepts could result in more significant advancements in the paper industry.
  • Various players in the market are constantly innovating products to bolster their foothold globally. In May 2023, Smurfit Kappa completed its investment project, which led to a significant expansion of its packaging plant in Pruszkw with EUR 40 million (USD 43.886 million). This expansion was expected to make Smurfit Kappa one of the largest in Poland and one of Europe's most technologically advanced and modern packaging plants.
  • Consumers lead on-the-go lifestyles, and as a result, they continuously seek simpler foods to pick up, handle, eat, or carry. Brands are working harder to make food packaging portable to address this need. Packaging manufacturers depend on paper packaging for food products because these types of packaging are exceptionally lightweight and easy to carry. Moreover, food packaging has become more environmentally friendly in recent years. Big firms abandoned single-use plastics in favor of biodegradable, recyclable, or reusable packaging due to their desire for eco-friendly solutions.
  • The growth of the food industry, which, in turn, is driving demand for folding cartons, corrugated boxes, and liquid paperboard boxes, is propelled by the increased need for ready-to-eat, frozen, and packaged goods. For instance, according to the US Census Bureau, in 2023, annual sales of retail food and beverage stores in the United States amounted to ~USD 985 billion, rising from USD 774.4 billion in 2019. Thus, increasing sales of food and beverages impact the growth of the paper packaging market.
Paper Packaging Market - Sales of Retail Food and Beverage Stores, in USD Billion, United States, 2019-2023

Asia-Pacific is Expected to Hold Significant Market Share

  • Asia-Pacific is anticipated to record significant growth in the market studied. The market is expanding due to the rising number of production facilities, rising consumerism, and the transit packaging industry in the region. The region is expected to expand quickly due to the increasing need for paper pulp in developing nations like China and India.
  • In China, the transportation packaging market is growing along with consumption, fueling the demand for paper packaging. The growing urban population, evolving e-commerce industry, dropping pulp prices, and improving population awareness about environmentally friendly packaging are expected to propel the paper packaging market in the region.
  • As per the Indian Paper Manufacturers Association (IPMA), paper consumption in India is expected to witness 6 to 7% annual growth and reach 30 million tonnes by FY 2026-27. This growth is expected to be mainly driven by the growing emphasis on education and literacy, coupled with the increase in organized retail business.
  • Furthermore, the growing paper consumption in China throughout the end-user industries is also influencing the production of paper-based products like cardboard. According to data from the National Bureau of Statistics of China, the production of processed paper and cardboard increased simultaneously with their growing demand in January and February 2024. China's cumulative processed paper and cardboard production volume was approximately 22.42 million metric tons, which increased from 12.25 million metric tons in August 2023.
  • Nestle, a Japanese company, is looking into new packaging options for various brands and goods. It is also aggressively researching materials to lessen its environmental impact further, as it sells approximately 4 million products daily. Furthermore, several government measures to limit plastic waste influence the market's growth. As a result, increasing consumer awareness and the growth of food, beverage, and other sectors in the region are pushing market's growth.
Paper Packaging Market - Production of Processed Paper and Cardboard, in Million Metric Tons, China, August  2023 - January and February 2024

Paper Packaging Industry Overview

The paper packaging market is fragmented with several players like International Paper, Mondi, Smurfit Kappa, WestRock Company, and more. The companies are innovating and entering into strategic partnerships to retain their market share. Companies constantly innovate with technology and redesign their packaging to get better performance, improve marketability, and enhance sustainability.

  • In February 2024, Mondi Group expanded the production of its innovative range of paper-based EcoWicketBags as part of the rising need for sustainable home and personal care (HPC) packaging, specifically for diapers and feminine hygiene products. By expanding the production of EcoWicketBags at its Szada (Hungary) plant, Mondi further leverages the Group's integrated value chain, from in-house paper production to coating and converting.
  • In January 2024, WestRock announced plans to construct a new corrugated box plant in Pleasant Prairie, Wisconsin, to fulfill customers' growing needs. This investment is expected to position the company to increase production capabilities and enhance its cost profile in Great Lakes. The construction is slated to cost approximately USD 140 million.

Paper Packaging Market Leaders

  1. International Paper Company

  2. Mondi Group

  3. Smurfit Kappa Group

  4. DS Smith PLC

  5. WestRock Company

*Disclaimer: Major Players sorted in no particular order

Paper Packaging Market Concentration
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Paper Packaging Market News

  • March 2024: Sealed Air developed a new paper bottom web to meet the needs of food processors, retailers, and consumers looking to reduce plastic consumption and meet paper packaging demand. CRYOVAC’s new barrier formable paper, branded under Sealed Air, is made of 90% fibers certified by the FSC. According to SEE, this paper bottom web can reduce plastic by 77% when replacing PET/PE bottom web packaging.
  • January 2024: The new product, Sunfeast Farmlite Digestive Biscuit Family pack in 100% outer paper packaging, was launched by ITC Sunfeast Farmlite, a range of healthy biscuits from ITC Foods. It is the first brand to embrace 100% outer paper packaging. Ergonomic design aspects have been carefully selected, making paper packaging consumer-friendly, visually attractive, and comfortable.

Paper Packaging Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET INSIGHT

    1. 4.1 Market Overview

    2. 4.2 Industry Supply Chain Analysis

    3. 4.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.3.1 Bargaining Power of Suppliers

      2. 4.3.2 Bargaining Power of Consumers

      3. 4.3.3 Threat of New Entrants

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET DYNAMICS

    1. 5.1 Market Drivers

      1. 5.1.1 Development of Barrier-coated Paperboard Products

      2. 5.1.2 Growing Consumer Awareness on Paper Packaging

    2. 5.2 Market Restraints

      1. 5.2.1 Effects of Deforestation on Paper Packaging

      2. 5.2.2 Increasing Operational Costs

  6. 6. GLOBAL RECOVERED PAPER PRODUCTION STATISTICS

    1. 6.1 Recovered Paper, Production Quantity

    2. 6.2 Recovered Paper, Import Value, and Import Quantity

    3. 6.3 Recovered Paper, Export Value, and Export Quantity

    4. 6.4 Recovered Paper Production, by Leading Countries

  7. 7. CARTONBOARD EXIM SCENARIO

    1. 7.1 Cartonboard Exports by Value & Volume (USD million, million tonnes)

    2. 7.2 Cartonboard Imports by Value & Volume (USD million, million tonnes)

  8. 8. MARKET SEGMENTATION

    1. 8.1 By Grade

      1. 8.1.1 Carton Board

        1. 8.1.1.1 Solid Bleached Sulphate (SBS)

        2. 8.1.1.2 Solid Unbleached Sulphate (SUS)

        3. 8.1.1.3 Folding Boxboard (FBB)

        4. 8.1.1.4 Coated Recycled Board (CRB)

        5. 8.1.1.5 Uncoated Recycled Board (URB)

        6. 8.1.1.6 Othder Graes

      2. 8.1.2 Containerboard

        1. 8.1.2.1 White-top Kraftliner

        2. 8.1.2.2 Other Kraftliners

        3. 8.1.2.3 White top Testliner

        4. 8.1.2.4 Other Testliners

        5. 8.1.2.5 Semi Chemical Fluting

        6. 8.1.2.6 Recycled Fluting

    2. 8.2 By Product

      1. 8.2.1 Folding Cartons

      2. 8.2.2 Corrugated Boxes

      3. 8.2.3 Other Types

    3. 8.3 By End User Industry

      1. 8.3.1 Food

      2. 8.3.2 Beverage

      3. 8.3.3 Healthcare

      4. 8.3.4 Personal Care

      5. 8.3.5 Household Care

      6. 8.3.6 Electrical Products

      7. 8.3.7 Other End User Industries

    4. 8.4 By Geography***

      1. 8.4.1 North America

        1. 8.4.1.1 United States

        2. 8.4.1.2 Canada

      2. 8.4.2 Europe

        1. 8.4.2.1 Germany

        2. 8.4.2.2 United Kingdom

        3. 8.4.2.3 Italy

        4. 8.4.2.4 France

      3. 8.4.3 Asia

        1. 8.4.3.1 China

        2. 8.4.3.2 Japan

        3. 8.4.3.3 India

        4. 8.4.3.4 Australia and New Zealand

      4. 8.4.4 Latin America

        1. 8.4.4.1 Brazil

        2. 8.4.4.2 Mexico

      5. 8.4.5 Middle East and Africa

        1. 8.4.5.1 United Arab Emirates

        2. 8.4.5.2 Saudi Arabia

        3. 8.4.5.3 South Africa

  9. 9. COMPETITIVE LANDSCAPE

    1. 9.1 Company Profiles*

      1. 9.1.1 International Paper Company

      2. 9.1.2 Mondi Group

      3. 9.1.3 Smurfit Kappa Group

      4. 9.1.4 DS Smith PLC

      5. 9.1.5 Eastern Pak Limited

      6. 9.1.6 WestRock Company

      7. 9.1.7 Packaging Corporation of America

      8. 9.1.8 Cascades Inc.

      9. 9.1.9 Nippon Paper Industries Ltd

      10. 9.1.10 Sonoco Products Company

  10. 10. INVESTMENT ANALYSIS

  11. 11. FUTURE OF THE MARKET

**Subject to Availability
***In the final report, Asia, Australia, and New Zealand will be studied together as 'Asia Pacific'
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Paper Packaging Industry Segmentation

Paper is frequently used to package products in several end-user industries. There are numerous grades of paperboard packaging. Paperboard, like folding cartons, is the most common material used in the manufacturing of containers. In the manufacturing process, the paperboard requires pulping, bleaching (optional), refining, sheet forming, drying, calendaring, and winding.​ Paper packaging materials can be efficiently reused and recycled compared to other materials, such as metals and plastics. This is why paper packaging is considered an eco-friendly and economical form of packaging.​

  • The paper packaging market is segmented by grade (carton board [solid bleached sulfate (SBS), solid unbleached sulfate (SUS), folding boxboard (FBB), coated recycled board (CRB), uncoated recycled board (URB)] and containerboard [white-top kraft-liner, other kraft-liners, white top test-liner, other test-liners, semi-chemical fluting, and recycled fluting]), product type (folding cartons and corrugated boxes), end-user industry (food, beverage, healthcare, personal care, household care, and electrical products) and geography (North America [United States and Canada], Europe [Germany, United Kingdom, Italy, France, and Rest of Europe], Asia-Pacific [China, Japan, India, and Rest of Asia-Pacific], Latin America [Brazil, Mexico, and Rest of Latin America], and Middle East and Africa [United Arab Emirates, Saudi Arabia, South Africa, and Rest of Middle East and Africa]). The market size and forecasts are provided in terms of value (USD) for all the above segments.
By Grade
Carton Board
Solid Bleached Sulphate (SBS)
Solid Unbleached Sulphate (SUS)
Folding Boxboard (FBB)
Coated Recycled Board (CRB)
Uncoated Recycled Board (URB)
Othder Graes
Containerboard
White-top Kraftliner
Other Kraftliners
White top Testliner
Other Testliners
Semi Chemical Fluting
Recycled Fluting
By Product
Folding Cartons
Corrugated Boxes
Other Types
By End User Industry
Food
Beverage
Healthcare
Personal Care
Household Care
Electrical Products
Other End User Industries
By Geography***
North America
United States
Canada
Europe
Germany
United Kingdom
Italy
France
Asia
China
Japan
India
Australia and New Zealand
Latin America
Brazil
Mexico
Middle East and Africa
United Arab Emirates
Saudi Arabia
South Africa
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Paper Packaging Market Research FAQs

The Paper Packaging Market size is expected to reach USD 398.65 billion in 2024 and grow at a CAGR of 4.68% to reach USD 501.08 billion by 2029.

In 2024, the Paper Packaging Market size is expected to reach USD 398.65 billion.

International Paper Company, Mondi Group, Smurfit Kappa Group, DS Smith PLC and WestRock Company are the major companies operating in the Paper Packaging Market.

Asia is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia accounts for the largest market share in Paper Packaging Market.

In 2023, the Paper Packaging Market size was estimated at USD 379.99 billion. The report covers the Paper Packaging Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Paper Packaging Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Future developments of the Paper Packaging Market include: a) Increased investment in recycling technologies b) Introduction of smart packaging solutions c) further innovations in sustainable packaging to reduce environmental impact

Corrugated boxes, cartons, and flexible paper packaging products are highly sought after due to their versatility, recyclability, and effectiveness in protecting a wide range of products.

Paper Packaging Industry Report

The global market for Paper Packaging Materials is witnessing remarkable growth, fueled by a surge in demand for sustainable and eco-friendly packaging solutions. As consumers and businesses increasingly opt for environmentally responsible options, paper-based packaging is becoming the preferred choice, especially in the food and beverage sector. This shift is supported by paper packaging's recyclability and biodegradability, making it a versatile and attractive option across various industries. Despite challenges like moisture sensitivity, ongoing innovations are enhancing its durability and resistance, ensuring its vital role in the eco-friendly packaging solutions of the future. The e-commerce boom further amplifies this demand, increasing the need for shipping boxes and protective materials. According to Mordor Intelligence™ Industry Reports, the paper packaging market is experiencing significant size, share, and revenue growth, with a positive forecast outlook. For a comprehensive market analysis and forecast, access a free report PDF download, offering an in-depth historical overview and future perspectives on paper packaging materials.

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Paper Packaging Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)