Paper Packaging Materials Market: Global Industry Analysis and Forecast (2023-2029)

Paper Packaging Materials Market is anticipated to reach US$ 513.77 Bn by 2029 from US$ 375.01 Bn in 2022 at a CAGR of 4.6% during a forecast period.
Paper Packaging Materials Market Overview
The market is expected to register growth of 4.6 % during the forecast period due to an increase in demand for eco-friendly packaging and the rapid development of frozen food industries. There have been severe problems in the packaging sector owing to the COVID-19 pandemic, including the impact of national lockdowns. The consequences of countrywide lockdown have a major effect on the materials used in packaging. Although there has been a major impact on the supply side of paper packaging, considerable growth in end-user demand has greatly increased the growth of the paper packaging materials market.
Paper Packaging Materials Market Snapshot
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The government’s environmental concern regarding the use of eco-friendly solutions is the primary factor for the growth of the paper packaging materials market. Thus, various regulations are put by the regulatory bodies to promote recyclable paper-based options, which initiates paper recycling technologies. Also, the need for flexible packaging such as Kraft paper, greaseproof paper, and parchment paper is driving the growth of paper packaging materials. This flexible packaging holds the market share of US$ 42.65 Bn in 2022 and is expected to reach US$ 56.25 Bn by 2029. Thus, manufacturers across the globe are investing in research and development activities due to technological development in the paper recycling process.

Rapid Development of Fast Food Industries

The paper packaging provides primary and secondary packaging to the products that help to preserve fast food and its nutritional value. Thus, the retails stores use these paper packaging materials to preserve food that includes frozen and chilled foods due to the growing purchasing of these products. Asia and Latin America hold the maximum industries of fast food due to a rise in demand from millennials combined with an increase in demand for ready-to-eat foods. Also, an increase in the number of hypermarkets and supermarkets is expected to be one of the key factors driving the growth of the paper packaging materials market.

However, several deforestation rules are exposed to the paper packaging materials market. Thus, growth and development are expected to be hampered by such an adverse regulatory environment.
Paper Packaging Materials Market Segment Analysis
By Product, the liquid packaging cartons segment dominated the market, with market size of US$ xx Mn. in 2022 and to reach US$ xx Mn. by 2029, with a CAGR of 4.2%. These packaging are light in weight, have more shelf life and biodegradable properties, and are used for applications such as beverages.

However, the Corrugated Cases segment occupied the second largest market share of xx% in 2022 as they are mostly used in the transportation of goods. The growth of this segment is attributed to the growth in Retail packaging such as innovative designs.

By Application, the Beverages segment was valued at US$ xx Mn. in 2022 and is projected to reach US$ xx Mn by 2029 at a CAGR of 43% during 2023-2029. This is mainly due to the increasing demand for liquid packaging, preference for functional foods, and its easy availability. Also, it increases the conservation of beverages, which drives the segment's growth. The growth in beverage industries across the developed countries like Europe and North America also drives the growth of the paper packaging material market.

However, the frozen food segment occupied the second largest market share of xx% in 2022 due to rapid growth in the frozen food industries in developing countries. Similarly, the Fast food segment is expected to grow at a considerable rate due to growing techniques of marketing using paper packaging materials.
Paper Packaging Materials Market Regional Insights
North America held the largest market share of 41% in 2022 and is projected to grow at the highest CAGR of xx% over 2023-2029. The consumer’s preference for fast food and processed products are all driving the growth of the market in the region. According to data, in 2022, around 42 million tons of paper packaging were used in production, which is expected to increase by around 82% in 2022. In the North American region, the United States dominates the paper packaging materials market due to growing food industries.

Asia Pacific region is expected to register the highest growth rate over the forecast period. Among the Asian countries, China is expected to lead the APAC market, generating revenue worth US$xxMn by 2029. This is mainly due to the increasing number of manufacturing and transit packaging units across the region. Also, factors like rising awareness regarding probiotics usage, rising standard of living, and increasing disposable income are expected to drive the growth of the market during the forecast period.

Leading market key players are working to demonstrate the opportunity to Paper Packaging Materials Market.

Major players are involved in adopting maintainable strategies to gain competitive edges such as new product launches, product up-gradation, and M&A, collaborative agreements. For example, KapStone Paper and Packaging Corporation was acquired by WestRock Company. KapStone's purchase broadens the company's distinct offering of paper and packaging products, such as folding cartons and paperboard, and is expected to improve customer service across the board.

Smurfit Kappa announced a partnership with Wildlife Fund Combia on August 18, 2020, to improve forestry protection and expand the usage of recyclable papers.

In June 2020, Amazon India stated that all single-use plastic in packaging coming from its 50 plus fulfillment centers in the country are going to be replaced with plastic-free and biodegradable paper.

The objective of the report is to present a comprehensive analysis of the Paper Packaging Materials Market to the stakeholders in the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.

The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding Paper Packaging Materials Market dynamics, structure by analyzing the market segments and project the Paper Packaging Materials Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Paper Packaging Materials Market make the report investor’s guide.
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Global Paper Packaging Materials Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 375.01 Bn.


Forecast Period 2023 to 2029 CAGR:
4.6%
Market Size in 2029:
US $ 513.77 Bn.


 Segments Covered:
by Product
Liquid Packaging Cartons
Corrugated Cases
Cartons & Folding Boxes


by Application
Beverages
Fast Food
Frozen Food
Diary and Bakery Products


by Level Of Packaging
Primary Packaging
Secondary Packaging
Tertiary Packaging



Paper Packaging Materials Market by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina, Columbia and Rest of South America)
Paper Packaging Materials Market, Key Players are
1. Koch Industries
2. International Paper Company
3. Holmen AB
4. DS Smith Plc
5. Smurfit Kappa Group Plc
6. Napco National Paper Products Company
7. Billerudkorsnas
8. WestRock Company,
9. Georgia Pacific LLC
10. Pratt Industries
11. DS Smith Packaging Limited
12. Stora Enso Oyj
13. Mondi Group Plc
14. The Mayr-Melnhof Group
15. OJI Holding Corporation

Frequently Asked Questions:

1. Which region has the largest share in Global Paper Packaging Materials Market?
Ans: Asia Pacific region held the highest share in 2022.

2. What is the growth rate of Global Paper Packaging Materials Market?
Ans: The Global Paper Packaging Materials Market is growing at a CAGR of 4.6% during forecasting period 2023-2029.

3. What is scope of the Global Paper Packaging Materials market report?
Ans: Global Paper Packaging Materials Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global market?
Ans: The important key players in the Global Market are – Koch Industries, International Paper Company, Holmen AB, DS Smith Plc, Smurfit Kappa Group Plc, Napco National Paper Products Company, Billerudkorsnas, WestRock Company,, Georgia Pacific LLC, Pratt Industries, DS Smith Packaging Limited, Stora Enso Oyj, Mondi Group Plc, The Mayr-Melnhof Group, and OJI Holding Corporation

5. What is the study period of this market?
Ans: The Global Market is studied from 2022 to 2029.