The Global Paper & Paperboard Packaging market report mentions estimates of the rise or fall of the CAGR value for a particular forecast period. Global Paper and paperboard are made from cellulose fibres, extracted from trees, combined together with additives to make a continuous matted web. This chapter covers the raw materials, processes and on- and off-line treatments used to manufacture fibrous substrates (paper and paperboard) used for the conversion into packaging components. These components include wrapping materials, bags, sacks, cartons, tubs, lids, moulded fibre packaging, and backing cards for various plastic, paper and paperboard combinations. This chapter will also discuss the different substrates, conversion methods and decorating methods.
Global Paper & Paperboard Packaging Market is expected to rise from its initial estimated value of USD 199.01 billion in 2018 to an estimated value of USD 264.09 billion by 2026, registering a CAGR of 3.6% in the forecast period of 2019-2026. This rise in market value can be attributed to the rising levels of sustainable packaging methods and materials.
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Key Market Competitors:
Few of the major competitors currently working in the paper & paperboard packaging market are Amcor Limited, Cascades inc., Clearwater Paper Corporation, ProAmpac, DS Smith, International Paper, ITC Limited, METSÄ GROUP, Mondi, Packaging Corporation of America, WestRock Company, NIPPON PAPER INDUSTRIES CO. LTD., Smurfit Kappa, Stora Enso, Svenska Cellulosa Aktiebolaget SCA (publ), Sappi, Brødrene Hartmann A/S, UFP Technologies Inc., Pactiv LLC, Henry Molded Products Inc., Orcon Industries, and FiberCel.
Market Definition:
Paper and paperboard are specifically manufactured from wood pulp. There is no such significant difference between paper and paperboard except that paperboard is thick in size compared to paper. Moreover, paperboard is strong, versatile, lightweight, cost-effective and can be easily cut which makes it suitable for packaging. It is also used to cover books, magazines, postcards, and many other items. In the food industry, the paper and paperboard packaging is used to pack fruits, vegetables, ice-cream, meat, etc. One of the major advantages of paper is that it can be easily recycled and hence it is expected to fuel the demand in near future. The rising demand for packaging material in food and beverage industry is also driving the market. To address the concern of eco-friendly packaging material, several manufacturers are investing in new materials and water technologies also. The growing demand for cost-effective paperboard container for food and beverages is also playing a major role in demand for paper and paperboard trays. These containers offer many benefits to end use industries such as thermal stability, retail differentiation, and moisture content. According to American forest and paper association, the usage of paper products has increased from 92 million tons to 208 million tons in last 20 years. Hence with the increasing demand of paper in packaging industry, the market is expected to grow on a good scale.
Market Drivers:
- Increasing sustainable packaging material awareness among customers is expected to drive the market growth
- Growing need of paper and paper board recyclability is also expected to drive the market growth
Market Restraints:
- Removal of plastic packaging material for food industry in developing countries is expected to act as a restraint to the market growth
- Use of eco-friendly packaging solutions is also expected to restrain the market growth
A bird’s eye view of the Paper & Paperboard Packaging Industry made available in the report helps readers to understand the key drivers, restraints, challenges, and opportunities that are shaping the Paper & Paperboard Packaging market. Furthermore, the report evaluates challenges experienced from buyers and sellers side.
Key Developments in the Market:
- In November 2018, WestRock Company announced the acquisition of KapStone Paper and Packaging Corporation. This acquisition enhancing the product portfolio and servicing capabilities of WestRock Company.
- In September 2017, ProAmpac acquired PolyFirst Packaging, which is specialized in printed and customized roll stock and many types of plastic pouches and bags. This acquisition will lead the business growth of the company in different regions.
Segmentation:
By Grade
- Solid bleached sulphate board
- Coated unbleached kraft board
- Folding boxboard
- White lined chipboard
- Glassine & greaseproof
- Label paper
- Others
By Type
- Corrugated box
- Boxboard
- Flexible paper packaging
By Application
- Food
- Beverage
- Healthcare
- Personal & homecare
- Others
Competitive Analysis:
Global paper & paperboard packaging market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of paper & paperboard packaging market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
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Key Insights in the report:
- Complete Market analysis and forecasting
- Market Definition, understanding the concept of paper & paperboard packaging
- Market Drivers and Restraints of the industry
- Market Segmentations and market share divided amongst them
- Key Players in the market and their analysis
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