Paper and Paperboard Packaging Market will register the CAGR of 5.5% Till 2026 | Top Key Players ITC Limited, DS Smith, WestRock Company, Mondi Group
The new report ‘Paper and Paperboard Packaging Market [By Type (Containerboard, Cartonboard, Flexible Paper, Others) By Grade (Unbleached Kraft Paperboard, Bleached Paperboard, Recycled Paperboard, Others) By End-User (Food and Beverage, Healthcare, Retail, Consumer Goods, Others), By Regions]: Market Size & Forecast, 2018 – 2026’ indicates that the global Paper and Paperboard Packaging market generated $273 billion in 2018.
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Paper and paperboard packaging is a strong, light, versatile and cost-efficient method to transport, protect and preserve a wide array of items. Paper based packaging is completely recyclable and biodegradable. It is also used to minimize wastage and product damage during shipping. A wide range of products available in the Paper and Paperboard Packaging market include corrugated box, paper board, and paper bags among others. Use of paper-based packaging offers benefits such as low costs, recyclability, and reduced environment pollution.
Paper packaging provides a sustainable packaging solution to withstand the stresses and strains during transit and storage. The increasing trend of E-commerce has increased the demand for paper packaging for transit. The sustainability offered by paper packaging along with growing environmental concerns has accelerated the Paper and Paperboard Packaging market growth across the globe. Stringent government regulations regarding use of plastic and other non-recyclable packaging products further supplement the Paper and Paperboard Packaging market growth. Increasing government initiatives to promote the growth of paper packaging products coupled with technological advancements and environmental concerns is expected to provide numerous growth opportunities for the Paper and Paperboard Packaging industry.
Large brands are focusing on personalized and customized paper packaging to create an impact on consumers, enhance brand awareness, and increase their Paper and Paperboard Packaging market share. In May 2018, Mondi introduced its relaunched paper portfolio for shopping bags under its brand ‘shoppingworld by Mondi’. Under this brand, the company offers a range of paper portfolio for non-food and food shopping bag applications with recycled fibre variants, and virgin fibre grades. The new portfolio offered by the company is organised according to food and non-food end uses and their corresponding technical requirements. The paper grades for food provide high strength, stability, good printability, and are approved for food safety. The non-food sector use fit-for-purpose papers offering good functionality and printability for premium looks. Both these categories use paper grades made from virgin fibres and recycled fibres.
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The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global Paper and Paperboard Packaging Market, 2018-2026. This Paper and Paperboard Packaging market report comprises a detailed geographic distribution of the market across North America, Europe, Asia-Pacific, Latin America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.
Asia-Pacific generated the highest revenue in 2018. Consumers in the region are increasingly accepting paper packaging solutions owing to the growing consumer awareness and environmental concerns. In China, the local government aims to enforce more sustainable compliance laws such as pulp vs. resin-based packaging during the forecast period to promote the growth of Paper and Paperboard Packaging Market. Brands have started investing in Paper and Paperboard Packaging solutions owing to pilot regulations and changing consumer trends to meet regulation standards of the future.
Competitive Landscape and Key Vendors
The global Paper and Paperboard Packaging market is characterized by the presence of well-diversified international and small and medium-sized vendors. Leading companies are acquiring other companies, and enhancing their product offerings to improve their Paper and Paperboard Packaging market share. Acquisitions enable key players to increase their Paper and Paperboard Packaging market potential in terms of geographic expansion and expansion of customer base.
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Key players in Paper and Paperboard Packaging Market:
• ITC Limited
• DS Smith
• WestRock Company
• Mondi Group
• International Paper Company,
• Nippon Paper Group Inc.
• Georgia-Pacific Corporation
• Amcor Limited
• Clearwater Paper Corporation
• Tetra Pak
• Flexible Paper
• Unbleached Kraft Paperboard
• Bleached Paperboard
• Recycled Paperboard
• Food and Beverage
• Consumer Goods
• North America
• Latin America
• Asia Pacific
• Middle East
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Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to our customers.
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