Press release
Paper Packaging Market is expanding at a compound annual growth rate of 3.6% during the period 2021-2028 | Size, Share & Global Report
Paper Packaging Market
For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/paper-packaging-market-analysis-industry-research/
The factors driving growth of the Paper Packaging Market includes rising demand for environment friendly packaging solutions, increase in the production of corrugate boxes, ban imposed by Governments worldwide on single-use plastics, emerging trend of online shopping and improvements in the living standards. Moreover, expansion of hypermarkets and supermarkets across the globe, growing adoption of advanced technologies by manufacturers, increasing application of paper packaging solutions in beverages, fast foods and frozen food and rapid urbanization, are some of the additional factors supplementing the Paper Packaging Market size. In addition, the increasing investments by major companies on research and development, rising population growth rates and growing disposable incomes, are further contributing towards the market growth.
However, growth of the Paper Packaging Market is hindered due to strict regulations to reduce deforestation.
The leading players operating in the market are MeadWestvaco Corporation, Oji Holdings Corporation, Smurfit Kappa, DS Smith, Georgia-Pacific, Holmen, Stora Enso Oyj, Hood Packaging Corporation, International Paper, and Mayr-Melnhof Karton AG, among others.
Based on Product, the Liquid Packaging Cartons segment is predicted to lead the market during the forecast period
Increasing use of liquid cartons for packaging of milk and other beverages, is propelling growth of the segment.
Based on Application, the Beverages segment is projected to capture the largest market share over the forecast period
Growing demand for organic beverages across the globe, owing to its health benefits, is pushing segment's growth.
Based on Region, the Asia-Pacific region is anticipated to hold the highest market share during the forecast period
Growing demand for paper packaging solutions in the fast food and bakery food items, development of environment friendly packaging solutions, rapid urbanization, expansion of the e-commerce industry, increasing per capita incomes and high population growth rates, are some of the important factors augmenting the market growth in the Asia-Pacific region.
Key Development
In 2019, International Paper agrees to acquired two packaging business of DS Smith, which is one of the leading companies in paper and pulp. This acquisition helped the company to expand its product portfolio of the group and thus company generated more revenue from the business line.
Market Segmentation
Segmentation by Product
Liquid Packaging Cartons
Corrugated Cases
Carton and Folding Cases
Others
Segmentation by Application
Beverages
Fast Foods
Fresh Foods
Dairy & Bakery
Frozen Foods
Others
Segmentation by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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