Rise in Consumer Consciousness Regarding Sustainable Packaging to Drive Paperboard Packaging Market - Expected to Grow with a CAGR 3.2% from 2022 to 2028
As stated in our extensive report; providing insights on Key Drivers, Key Restraints, Segments (i.e., By Grade, Type, Application and Region); the Global Paperboard Packaging Market accounted for USD 142.8 Billion in the year 2021.
The worldwide paper & Paperboard Packaging market has been witnessing widespread demand for the beyond few years because of the growing demand from numerous end-use industries, which include meals & drinks, non-public care & cosmetics, electronics, and others. Moreover, the growing demand for green packaging is predicted to promote an increase in paper & Paperboard Packaging within the coming years.
Paper & Paperboard Packaging material is made of pulp, which is derived from wood in addition to a non-wood supply which includes straw, and bamboo, amongst others. Wood pulp is to be had extensively and is more and more acted with the aid of using the recycling of the paper. The sustainable nature and coffee price of the wood pulp make paper & Paperboard Packaging a great packaging for end-use industries. Paperboard Packaging is used to offers packaging answers, in large part to the patron products. Demand for paper and Paperboard Packaging markets is growing in a unique set of software areas, while Paperboard Packaging demand for registered deadlock increases.
The paper and Paperboard Packaging industry provide massive packages throughout numerous business verticals from healthcare to the meal drink industry and private care to domestic care. Additionally, those packaging materials are utilized in sectors that include freight & carrier, schooling and stationery, and construction. Furthermore, paper and paperboard also are used to make packaging labels, boxes, cartons, and cardboard boxes.
Due to growing consumer awareness about the ill effects of non-biodegradable substances and rising environmental concerns consumers are shifting towards environmental safe packaging solutions, thus driving an increase in the market. Moreover, the growing disposable income of humans, especially in the developing nations, is the other component fueling the increase in the worldwide paper and Paperboard Packaging market currently.
Furthermore, growing dependence on convenience foods amongst consumers is a key factor fueling the increase in the market currently. Growing consumer awareness of sustainable packaging strategies, as well as the recyclability of paper and Paperboard Packaging, are some of the other key factors driving the global paper and Paperboard Packaging market currently. Intense competition for some of the paper and Paperboard Packaging manufacturers is a key component restraining the market's increase. Besides, prevailing fragmentation in the industry because of growing awareness of small-medium-scale scale producers and converters is a key detail appearing as a restraint for an increase in the worldwide paper and Paperboard Packaging market currently.
Asia Pacific holds the largest share in the Paperboard Packaging Market and is expected to continue this trend in the forecast period. This is due to the rising disposable income of consumers in developing countries along with rising dependence on convenience food in the region.
Some of the key players in the Global Paperboard Packaging Market include- International Paper (US), Amcor PLC (Switzerland), WestRock Company (US), Mondi Group (UK), DS Smith (UK) and others.
Browse the full Report - Paperboard Packaging Market Size, Share & Trends Analysis Report by Grade (Solid Bleached Sulfate (SBS), Coated Unbleached Kraft Paperboard (CUK), Folding Boxboard (FBB), White Lined Chipboard (WLC)), by Type (Corrugated Box, Boxboard, Flexible Paper), by Application (Food, Beverage, Healthcare, Personal & Homecare), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)