The paper packaging market involves manufacturing and packaging of products using papers and paperboards. Paper is widely used in packaging as it is easily available, sustainable, recyclable, inexpensive and provides excellent printability. Some key paper packaging products include corrugated boxes, cartons, folding cartons, kraft paper bags, multisubstrate paper bags, molded fiber pulp etc. Paper packaging finds extensive applications in food, beverages, personal care, household care and other consumer products. It helps protect fragile products from potential damage during transportation. Growing e-commerce sectors is augmenting the demand for corrugated boxes and other paper-based packaging. The global focus towards environmentally friendly packaging is further expected to drive the paper packaging market.
The Global paper packaging market is estimated to be valued at US$ 428.91 Bn in 2024 and is expected to exhibit a CAGR of 4.7% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the Paper Packaging market are DS Smith PLC, Georgia-Pacific Corporation, Holmen AB, Hood Packaging Corporation, International Paper Company, MeadWestvaco Corporation, OJI Holding Corporation, Smurfit Kappa Group Plc, Stora Enso Oyj, The Mayr-Melnhof Group, Sonoco Products Company, Pratt Industries, WestRock Company, Ashirwad Enterprises, Billerude, Bagnico, Kalpataru Paper LLC, Papier-Mettler, Trident Paper Box Industries, TGI Packaging Pvt. Ltd. Major players are focused on developing sustainable and eco-friendly paper packaging solutions to cater to growing end-use demand.
The key opportunities in the Paper Packaging Market Demand include rise in e-commerce activities augmenting demand for corrugated boxes, focus towards eco-friendly packaging replacing plastic, and growth of supermarket retail sales driving demand for cartons and paper bags.
Advancements in papermaking and coating technologies are helping manufacturers develop paper packaging with high tensile strength, grease resistance, wet strength and thermal barrier properties. Recent developments in biodegradable materials, nanotechnology and printed electronics are further expected to drive innovations in paper packaging.
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