Paper Packaging Market Size Ascendancy: Leading the Industry with 4.78% CAGR by 2031

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Paper Packaging Market Size, Share & Trends Analysis Report By Grade (Carton board, Containerboard), Product Type (Folding Cartons, Corrugated Boxes), End User Industry (Food, Beverage, Healthcare, Personal Care, Household Care, Electrical Products)- Market Outlook And Industry Analysis 2031"

The Global Paper Packaging Market is estimated to reach over USD 511.20 billion by 2031, exhibiting a CAGR of 4.78% during the forecast period.

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The market for paper packaging is driven by the growing consumer awareness of sustainable packaging and the tight rules enforced by various environmental protection organizations (regarding environmentally friendly packaging items). The use of cardboard and paper-based bags has increased dramatically along with the popularity of online shopping and delivery-on-demand services.

The COVID-19 pandemic created significant issues for the packaging industry, including the consequences of the statewide lockdown, corporations shifting their sourcing away from China and reevaluating the materials used in packaging. Although the end-user demand for paper packaging has dramatically increased in particular applications, the industry's supply side has nevertheless had a substantial influence. Due to its adaptability and affordability, various products can be transported, stored, and protected with paper packaging. It can also be altered to accommodate customer preferences or product-specific requirements. Paper packaging has lightweight, biodegradable, and recyclable features, making it a crucial part of the packaging.

List of Prominent Players in the Paper Packaging Market:
• International Paper Company
• Mondi Group
• Smurfit Kappa Group
• DS Smith PLC
• WestRock Company
• Packaging Corporation of America
• Cascades Inc.
• Holdings Corporation
• Nippon Paper Industries Ltd.
• Rengo Co. Ltd.
• Graphic Packaging International
• Metsä Board Oyj
• Sonoco Products Company
• Visy Industries
• Seaboard Folding Box Company Inc.
• Georgia-Pacific Corporation

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Market Dynamics:

Drivers-
For global packaging companies, eco-friendly options are now the rule rather than the exception. The packaging industry has undergone a paradigm shift in favour of eco-friendly solutions due to significant changes in corporate standards, governmental policies, trade rules, and consumer preferences. Since July 2016, France has prohibited the usage of plastic bags. The French government estimates that approximately 5 billion plastic bags are used for distribution, and 12 billion are used to bundle produce.

Challenges:
The inability of paper to package particularly heavy goods is the market's biggest obstacle, and as a result, the plastics and metal packaging industries have surpassed the paper packaging market in size. Environmental issues arise from the deforestation required to obtain raw materials and the release of dioxins during the manufacture of paper. These concerns are hampering the market for paper packaging. The COVID-19 epidemic caused significant problems for the packaging industry, including the consequences of the statewide lockdown, corporations shifting their sourcing away from China and reevaluating the materials used in packaging. Although the end-user demand for paper packaging has dramatically increased in particular applications, the supply side of the industry has nevertheless had a substantial influence.

Regional Trends:
With a number of players operating there, North America remains one of the top markets for paperboard packaging products. In North America, where food will likely continue to be the dominant end-use for folding cartons, the United States controls the folding carton packaging market. For instance, the US food sector is anticipated to grow at a constant pace of 2.9% CAGR through 2022, in accordance with the Association for Packaging and Processing Technology. The expansion of some supermarkets and hypermarkets, as well as the brisk expansion of the retail industry, have increased demand for paper packaging. Paper packaging helps retail establishments pack food and preserves and protects food's nutritious content.

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Recent Developments:
• In August 2022, Testronix introduced new packaging testing equipment. The top manufacturer of testing equipment in Asia, Testronix, just introduced premium next-generation packaging testing equipment. The testing equipment from Testronix is renowned for its high level of technology and build quality. Testronix and its highly qualified team of engineers have been able to create the newest technological instruments to service the paper and packaging industries thanks to extensive research and development efforts.

Segmentation of Paper Packaging Market-
By Grade-
• Carton Board
o Solid bleached sulphate (SBS)
o Solid unbleached sulphate (SUS)
o Folding boxboard (FBB)
o Coated Recycled Board (CRB)
o Uncoated recycled board (URB)
• Containerboard
o White-top Kraftliner
o Other Kraftliners
o White top Testliner
o Other Testliners
o Semi Chemical Fluting
o Recycled Fluting
• Other grades

By Product-
• Folding Cartons
• Corrugated Boxes
• Other Types

By End Use Industry-
• Food
• Beverage
• Healthcare
• Personal Care
• Household Care
• Electrical Products
• Other End User Industries

By Region-
North America-
• The US
• Canada
• Mexico

Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe

Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific

Latin America-
• Brazil
• Argentina
• Rest of Latin America

Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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This release was published on openPR.