Paperboard Packaging Market 2024 - By Size, Share, Trends, Growth Analysis And Outlook By 2033

 

Overview and Scope

Paperboard packaging refers to a type of packaging that uses paperboards are the most common materials used to make containers like folding cartons and paper cups, with coated boards accounting for the majority of them. They offer users convenient storage and functional packaging that is appealing and easy to handle and is more extensively used and accepted than plastic containers for a variety of reasons, as it benefits both the end-user and the environment.

 

Sizing and Forecast

The paperboard packaging market size has grown strongly in recent years. It will grow from $204.13 billion in 2023 to $214.41 billion in 2024 at a compound annual growth rate (CAGR) of 5.0%.  The growth in the historic period can be attributed to sustainable packaging demand, shift from plastic to paperboard, brand preference for eco-friendly packaging, regulatory changes, cost-efficiency of paperboard.

 

The paperboard packaging market size is expected to see strong growth in the next few years. It will grow to $275.43 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%.  The growth in the forecast period can be attributed to rise in convenience packaging, product protection demands, health and safety concerns, customization and branding, cost-efficiency. Major trends in the forecast period include eco-friendly packaging demand, brand commitment to sustainability, innovations in design and printing, customization and versatility, demand from retail sector.

 

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Segmentation & Regional Insights

The paperboard packaging market covered in this report is segmented –

1) By Type: Corrugated Box, Boxboard, Flexible Paper

2) By Grade: Solid Bleached Sulfate (SBS), Coated unbleached kraft paperboard (CUK), White Lined Chipboard (WLC), Glassine & Greaseproof Paper, Label Paper, Other Grades

3) By Raw Material: Fresh source, Recycled waste paper

4) By End-User Industry: Food, Beverage, Healthcare, Personal Care, Household Care, Electrical Products, Other End-User Industries

 

Asia-Pacific was the largest region in the paperboard packaging market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the paperboard packaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

 

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Major Driver Impacting Market Growth

The rising consumption of packaged food is expected to propel the growth of the paperboard packaging market going forward. Packaged food is food that is covered to prevent direct contact with the environment, either by permeable or impermeable wrapping. Packaged food usually requires paperboard packaging as it does not harm the food product. Paperboard folding cartons are used to package frozen foods, dry meals, milk products, and a variety of other items. For instance, in September 2022, according to a report published by Zawya, a UAE-based media portal, the anticipated surge in demand for packaged food is projected to witness a 21% increase, reaching 44 million tons by 2026. The consumption of packaged food in specific regions is expected to experience notable growth, with Iraq's consumption projected to increase by 28%, Saudi Arabia's by 22%, and the UAE's by 19%. Therefore, the rising consumption of packaged food is driving the growth of the paperboard packaging market.

 

Key Industry Players

Major companies operating in the paperboard packaging market report are WestRock Company, The International Paper Company, RockTenn Company, Georgia Pacific LLC, Smurfit Kappa Group plc, Amcor Ltd., Oji Holdings Corporation, Stora Enso Oyj, DS Smith plc, Mondi plc, Graphic Packaging International LLC, ITC Limited, Packaging Corporation of America, Sappi Limited, Sonoco Products Company, Rengo Co Ltd., Evergreen Packaging Inc., Huhtamaki Oyj, BillerudKorsnas AB, Shandong Chenming Paper Holdings Limited, Cascades Inc., Lee & Man Paper Manufacturing Limited, KapStone Paper and Packaging Corporation, Wilfried Heinzel AG, Anhui Shanying Paper Industry Co Ltd., Metsa Board Corporation, Svenska Cellulosa Aktiebolaget, Clearwater Paper Corporation, Nippon Paper Industries Co Ltd., Shandong Bohui Paper Industry Co Ltd.

 

The paperboard packaging market report table of contents includes:

1. Executive Summary

2. Paperboard Packaging Market Characteristics

3. Paperboard Packaging Market Trends And Strategies

4. Paperboard Packaging Market - Macro Economic Scenario

5. Global Paperboard Packaging Market Size and Growth

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32. Global Paperboard Packaging Market Competitive Benchmarking

33. Global Paperboard Packaging Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Paperboard Packaging Market

35. Paperboard Packaging Market Future Outlook and Potential Analysis

36. Appendix

 

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