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The global paper packaging market is estimated to expand at a CAGR of 4.1% during the forecast period, owing to numerous factors, about which FMI offers thorough insights and forecasts in this report.
The report includes a market research study on the global paper packaging market, which includes market assessment and trend analysis of different packaging types such as corrugated boxes, cartons, wrapping paper, inserts & dividers, bottle & cup carriers, cups & trays, clamshells, display packaging, bags & sacks, and tapes & labels.
Expanding Ecommerce Sector to Further Drive Paper Packaging Market
Future Market Insights suggests that the growing consumption of packaged food and consumer goods will boost the demand for paper packaging in the coming years. Suitability of corrugated boxes, cartons, and paper bags to pack a large variety of products from different end-use industries such as electrical & electronics, food & beverages, healthcare, homecare, building & construction, and tobacco, will create enormous growth opportunities in the global paper packaging market. Considering the high-growth opportunities arising from the e-commerce industry and a large number of packaging applications of paper packaging formats, most of the manufacturers of paper packaging solutions in the developed, as well as in developing economies, are planning to expand their production capacities.
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List of Key Players Covered in Paper Packaging market are:
South Asia’s paper packaging market represents the highest CAGR in terms of value. The South Asia paper packaging market is expected to expand at a CAGR of 5.9% over the forecast period.
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Manufacturers are developing paper packaging formats that are biodegradable and eco-friendly. Many paper packaging experts and consumer product companies are focusing on green packaging. Modern retail penetration is expected to boost the demand for paper bags. Due to the demand for sustainable packaging, paper packaging manufacturers are increasingly using recyclable raw materials. Sustainable packaging plays a key role in maintaining the shelf life of the product along with decreasing the negative impact of plastic and chemical packaging on the environment.
Manufacturers and consumers are constantly looking for environmentally-friendly, sustainable, and easy-to-reuse packaging products. Lightweight paper packaging is captivating the attention of various industries through its numerous benefits. Many industries are witnessing advanced benefits with the adoption of lightweight paper packaging and several paper packaging format manufacturers are embracing it, as paper packaging can reduce energy and overall costs during production, as well as transportation, apart from its primary benefits such as lightweight and recycling efficiency.
The paper packaging manufacturing process involves multiple stages, which range from designing, layout, die cutting, to waste recovery. The process requires machinery and equipment for emission control, cooking, pulp storage, and other such processes. Installation costs incurred by paper packaging manufacturers are quite significant and highly expensive. Moreover, the operation costs for running such paper packaging machinery and equipment are also considerably high, which continues to hamper the market growth, particularly in countries that are facing energy shortfall, such as Russia, Poland, and other countries in Europe.
The paper packaging market in the South Asian region is fragmented in nature with the presence of medium to large number of local players in the market. India represents the highest market value share in the South Asia paper packaging market and is expected to continue its dominance throughout the forecast period.
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The East Asia’s paper packaging market includes a country-level analysis for China, Japan, South Korea, and Rest of the East Asia. The East Asia’s paper packaging market represents the highest share in terms of value. The East Asia’s paper packaging market is expected to expand at a CAGR of 4.2% over the forecast period.
North America and Europe are going steady, as they are giving a second thought to opt for 100% paper to save on deforestation. Africa could still boast of dense forests. The paper packaging thing hasn’t reached it completely as yet.
Paper Packaging Market by Region:
4. Global Paper Packaging Market Analysis 2015-2021 and Forecast 2022-2028, By Material Type
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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The post Paper Packaging Market is expected to reach US$ 368.6 Bn in 2022, likely to surge at a vigorous 4.1% CAGR appeared first on Future Market Insights.
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