Paperboard Packaging Market

Global Paperboard Packaging Market

Paperboard Packaging Market- By Grade, Type, Application and Region.

Market Synopsis:

The Global Paperboard Packaging Market is valued at USD 146.12 Billion in the year 2022 and is anticipated to reach a value of USD 183.68 Billion by the year 2030. The Global Market is forecasted to grow to exhibit a Compound Annual Growth Rate (CAGR) of 2.90% over the forecast period.

Paperboard Packaging is primarily utilized to create packaging solutions for consumer goods. In some application areas, demand for paper and Paperboard Packaging solutions are increasing, while demand for Paperboard Packaging is stagnating. Paper and Paperboard Packaging solutions are used in a variety of industries, including healthcare, food and beverage manufacturing, personal care, and home care. These packaging options are also employed in the freight and carrier, education and stationery, and construction industries. Packaging labels, boxes, cartons, and cardboard boxes are also made from paper and paperboards.

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Companies that provide paper and Paperboard Packaging solutions are expanding their offerings beyond core products to include consulting services for end users to help them choose the most effective packaging solution for their needs. The need for such a strategy is partly due to the traditional paper and paperboard manufacturing industry's stagnant growth. Fruits, vegetables, ice cream, meat, and other foods are packed in paper and Paperboard Packaging in the food sector. Paper and Paperboard Packaging are used in the beverage business to package milk, juices, and other beverages, whereas it is used in the healthcare industry to package pharmaceutical items, medicines, and other medications.

Market Segmentation:

The Paperboard Packaging Market is segmented on the basis of grade, type, and application. Based on grade, the market is segmented as Solid Bleached Sulfate (SBS), Coated unbleached kraft paperboard (CUK), Folding boxboard (FBB), White Lined Chipboard (WLC), Glassine & Greaseproof Paper, Label Paper, and Others. Based on type, the market is segmented as Corrugated Box, Boxboard and Flexible Paper. Based on application, the market is segmented as Food, Beverage, Healthcare, Personal & Homecare and Others.

Based on Type:

The market is divided into three types: corrugated boxes, boxboards, and flexible paper. The need for corrugated boxes and cartons is predicted to expand significantly in paper packaging over the forecast period, owing to rising demand for packaging in major end-use sectors such as food and drinks, electrical and electronics, and e-commerce. The cheap cost and good protection properties of corrugated boxes and cartons are critical growth factors in the global paper packaging market. Besides, paper packaging is widely utilized in a range of end-use sectors as a secondary and tertiary packaging solution to pack a variety of items.

Furthermore, corrugated boxes, folding cartons, and other flexible paper packaging solutions that offer maximum protection during shipment and handling will have a strong presence in the global paper packaging market as online shopping platforms become more popular.

Based on Application:

The market is divided into five categories: food, beverage, healthcare, personal & home care, and others. The food and beverage industry is the most important end-user of paperboard packaging, accounting for more than half of the global market. In addition, the demand for branded and packaged substances is increasing as a result of changing lifestyles and a growing young population. According to the Flexible Packaging Association, the beverage industry accounts for about half of the packaging market in the United States. Over 30% of Americans order food twice a week, and this number is predicted to rise by 3% in the next few years.

Asia Pacific is Projected to Grow at the Highest CAGR During the Forecast Period

In 2020, Asia Pacific held the highest share of the Global Paper and Paperboard Packaging Market. The demand for paper and Paperboard Packaging in Asia Pacific is fueled by countries like China, Japan, and India. The packaging sector in the Asia-Pacific area is booming, with the market for paper and Paperboard Packaging likely to grow in the forecast years due to rising disposable income in developing countries and a greater reliance on convenience foods.

Moreover, demand is being boosted by on-the-go consumption in nations such as India, China, and Japan. Food and beverage consumption is continually on the rise in nations like China and India, which is propelling the Paperboard Packaging industry. During the projected period, such significant expansion in the food and beverage industry is predicted to drive demand for paperboard packaging.

Competitive Landscape:

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.

Segmentation of the Global Paperboard Packaging Market: