Global Paperboard Packaging Market Poised for Significant Growth, Reaching US$ 299.4 Billion by 2031

The global paperboard packaging market, valued at US$ 194.5 billion in 2021, is projected to witness substantial growth at a CAGR of 4% from 2022 to 2031, reaching an estimated value of US$ 299.4 billion by the end of 2031. As sustainability gains prominence in the packaging industry, the demand for lightweight yet robust paper and paperboard solutions is on the rise, driven by both end-users and industrial applications.

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Industry Insights
Paperboard, manufactured from wood pulp or layers of paper, offers a balance between strength and weight, making it an ideal choice for various applications. Notably, the International Organization for Standardization recommends a weight of 224g/m2 to classify it as paperboard. The material is widely used in industries such as cosmetics, clothing, footwear, and food. Its attributes like strength, lightweight, smoothness, versatility, and cost-effectiveness make it a preferred packaging solution. Remarkably, approximately 70% of paperboards are recyclable, contributing to its eco-friendly appeal and positioning it as a sustainable alternative to plastics, metals, and glass.

The market is witnessing a shift towards paperboard packaging due to its biodegradability and environmental friendliness compared to plastic. The recyclability, reusability, energy efficiency, and conservation of natural resources associated with paper and paperboard containers further contribute to their growing adoption across various industries, including retail.

Companies Profiled
• Clearwater Paper Corporation
• DS Smith Plc.
• ITC Ltd.
• International Paper Company
• Mondi Group
• Metsa Group
• Nippon Paper Industries Co. Ltd.
• Oji Holdings Corporation
• Stora enso Oyj
• South Africa Pulp and Paper Industries Ltd.
• Shandong Bohui Paper Company Ltd.
• Smurfit Kappa Group Plc.
• Svenska Cellulosa Aktibolaget
• WestRock Company
• Others

Driving Factors
Rise in Construction and Non-Residential Development: The increased use of paperboard packaging in construction, particularly in non-residential construction, is a significant factor propelling the global market. The growth in global population, especially in developing countries, is expected to boost sectors such as construction, automotive, and appliances, consequently driving the demand for paperboard packaging.

E-commerce and Cosmetic & Personal Care Industries: The exponential growth of e-commerce and the cosmetic & personal care packaging industries is fueling the demand for paperboard packaging. Additionally, the medical industry, a significant part of non-durable goods, is poised to contribute to the growth of the paper packaging market.

Focus on Sustainable Packaging: Increasing demand for sustainable packaging solutions has been a key driver for the paperboard packaging market. Major brand end-users are prioritizing sustainable packaging, and paperboard emerges as an ideal option to replace less eco-friendly materials like plastics and metals.

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Regional Outlook
Asia Pacific led the paperboard packaging market in 2021, driven by the expansion of the packaged food and cosmetic & personal care packaging industries. The market in Asia Pacific is expected to grow rapidly, followed by Latin America. Countries such as China, Japan, and India are key contributors to the growing demand for paper and paperboard packaging in the region. The rise in disposable income in developing countries and the on-the-go consumption trend further fuel this demand.

Europe and North America, being relatively mature markets, continue to play a significant role. The U.S. dominates the North American market, with the food industry expected to remain a primary end-user of folding cartons.

Market Segmentation
Product
• Boxboard
• Folding Boxboard (FBB)
• Solid Bleached Boxboard (SBB)
• Solid Unbleached Boxboard (SUB)
• White Line Chipboard (WLC)
• Containerboard

Application
• Food & Beverages
• Non-durable Goods
• Durable Goods
• Medical
• Others (including Industrial Goods, Machinery, etc.)

Regions Covered
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Latin America

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This release was published on openPR.