Paper and Paperboard Packaging Market Trends, Surging Demand, Detailed Analysis, And Forecast To 2033

The Business Research Company recently released a comprehensive report on the Global Paper and Paperboard Packaging Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The paper and paperboard packaging market size has grown strongly in recent years. It will grow from $397.73 billion in 2023 to $422.32 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to traditional packaging demand, cost-effectiveness, regulatory compliance, brand image and marketing, product protection and preservation.

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Market Drivers and Trends:

The rapid growth of e-commerce is expected to propel the growth of the paper and paperboard packaging market going forward. E-commerce, or electronic commerce, refers to the buying and selling of goods and services over the Internet. Paper and paperboard packaging are commonly used in e-commerce due to their affordability, versatility, and lightweight yet relatively strong natures to help with product protection, customization, branding, and consumer preferences. For instance, in November 2023, according to the United States Census Bureau, a US-based government agency, e-commerce increased and reached the 3rd quarter of 2023 at 7.6%, compared to the 4th quarter of 2022 by 6.9%. Further, around 15.4% of all sales in the second quarter of 2023 were made through online stores. Therefore, the rapid growth of e-commerce is driving the growth of the paper and paperboard packaging market.

Major companies operating in the paper and paperboard packaging market are adopting innovative recyclable solutions, such as Tambrite Aqua+, a recyclable food packaging solution, to meet the growing demand for packaging. Recyclable food packaging refers to packaging materials that can be easily recycled after use, thereby reducing environmental impact. These materials are often made from sustainable and renewable sources, such as plant-based materials, and are designed to be either curbside recyclable or compostable. For instance, in May 2023, Stora Enso, a Finland-based packaging materials provider, launched the Tambrite Aqua+ folding box board solution. It is designed for frozen, chilled, and dry food packaging, aiming to reduce the need for fossil-based plastics. It utilizes a water-based dispersion coating that helps minimize the use of plastic and is fluorochemical-free and resistant to grease and moisture. It is made using dispersion coating technology. This technology provides a water-based solution that can be integrated with paperboard surfaces for effective protection. Additionally, this innovative solution exhibits resilience against external moisture and grease, ensuring the safety and integrity of the enclosed product.

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Major Key Players of the Market:

WestRock Company, International Paper Company, Amcor Ltd., Tetra Pak, UPM-Kymmene Corporation, Smurfit Kappa Group Plc, Stora enso Oyj, Oji Holdings Corporation, Graphic Packaging International, DS Smith Plc, Packaging Corporation of America, India Tobacco Company Limited, Metsa Group, South Africa Pulp and Paper Industries Ltd, Valmet Oyj, Domtar Corporation, Cascades Inc., Nippon Paper Industries Co. Ltd, Infor Inc., Shandong Bohui Paper Company Ltd, Visy Industries Australia Pty Ltd, BillerudKorsnäs AB, Svenska Cellulosa Aktiebolaget SCA, Mondi Group, Weyerhaeuser, Sonoco Products Company

Paper and Paperboard Packaging Market 2024 Key Insights:

• The paper and paperboard packaging market is expected to grow to $512.32 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%.
• E-commerce Expansion Fuels Growth of Paper and Paperboard Packaging Market
• Innovative Recyclable Solutions Revolutionize Paper and Paperboard Packaging Market
• Asia-Pacific was the largest region in the paper and paperboard packaging market in 2023

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