Global Paper Packaging Market to Reach $573 Billion by 2033, Fueled by Versatility and Customization

According to FMI’s analysis, the global paper packaging market is expected to witness a robust compound annual growth rate (CAGR) of 4.1% during the projected period. By the end of 2033, the market is anticipated to expand from its 2023 value of US$383,867.8 million to US$573,705.45 million.

One of the key drivers contributing to the demand for paper and paperboard containers is the increasing presence of supermarkets and hypermarkets. As these retail establishments become more prevalent, the need for packaging materials is expected to rise, thereby bolstering the growth of the packaging industry.

Retail establishments widely use paper packaging to protect food products and preserve their nutritional content. With the projected increase in the consumption of supermarket items, including chilled and frozen foods, there will be a significant surge in the demand for paper packaging solutions.

The growth of the paper packaging market is further fueled by the expansion of the retail and e-commerce sectors, as well as consumers’ preferences for environmentally friendly packaging materials. The rise of online shopping platforms is driving the demand for tertiary and secondary paper packaging materials, thereby accelerating the overall market growth.

In summary, the paper packaging market is poised for substantial growth, driven by factors such as the increasing presence of supermarkets and hypermarkets, the consumption of supermarket items, the growth of the retail and e-commerce sectors, and the demand for eco-friendly packaging materials. These trends indicate a promising future for the thriving paper packaging industry.

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Key Highlights from FMI’s Analysis of the Paper Packaging Market:

• The Europe region is expected to lead the paper packaging industry, generating a revenue of US$ 100,596 million by 2023, with a CAGR of 3.9% over the forecast period.
• The North America region is projected to achieve a market value of US$ 94,062.8 million by 2023, expanding at a CAGR of 3%.
• The East Asia region is anticipated to witness robust growth, reaching US$ 93,793.3 million by 2023, registering a CAGR of 4.2% from 2023 to 2033.
• The corrugated boxes segment is expected to be valued at US$ 111,983.3 million by 2023, with a CAGR of 3.7% over the forecast period.
• The secondary packaging segment, based on the level of packaging, is expected to reach US$ 196,117.6 million by 2023, expanding at 4.2% over the forecast period.
• The food packaging industry is projected to achieve significant sales of US$ 192,757.9 million by 2023, with a CAGR of 4% over the upcoming years.

New Developments as Observed by FMI

• In August 2022, Nestlé Hong Kong officially disclosed Kit Kat stick ice cream packaging is shifting from plastic to paper. This development is first in line for the Innovation Zone. The packaging is formulated of 100% pure pulp, which is certified by the Forest Stewardship Council (FSC).
• In January 2022, Amcor unveiled a platform for new paper-based packaging. AmFiberTM is an exclusive platform for paper-based packaging material introduced by a leading packaging solutions maker. AmFiber inventions intend to revolutionize the capabilities of conventional paper packaging by offering an extensive range of features and functional advantages to satisfy consumers’ evolving needs.

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Key Players:

• Smurfit Kappa Group Plc
• Napco National Paper Products Company
• Billerudkorsnas, International Paper Company
• WestRock Company
• Georgia Pacific LLC
• Pratt Industries, Inc.
• DS Smith Packaging Limited

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USA and China to Experience Growth in Paper Packaging Industry

The paper packaging industry is set to witness growth in both the United States and China. In the USA, the market revenue is projected to reach US$ 87,314 million by 2023, with a CAGR of 3.1%. The increasing demand for flexible packaging and investments in cartons for protection and value enhancement are driving the market growth. The retail industry, particularly e-commerce, is also contributing to the expansion of paper packaging due to the surge in online sales.

In China, the paper packaging industry is expected to reach US$ 70,985.9 million by 2023, growing at a CAGR of 4.5%. The manufacturing economies and growing consumerism in China are driving the sales of paper packaging. Investments in paper packaging plants and the shift away from polystyrene towards paper materials are further fueling the industry’s growth in the country

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Key Segments Covered In Paper Packaging Industry Research

Paper Packaging Market by Material Type:

• Corrugated Board
• Specialty Paper
• Box-board/Carton Board
• Kraft Papers
• Molded Pulp

Paper Packaging Market by Packaging Type:

• Corrugated Boxes
• Cartons
• Wrapping Paper
• Bags & Sacks
• Cups & Trays
• Tapes & Labels
• Others

Paper Packaging Market by Level of Packaging:

• Primary
• Secondary
• Tertiary

Paper Packaging Market by End-use:

• Food & Beverages
• Tobacco
• Healthcare
• Personal Care & Cosmetics
• Homecare & Toiletries
• Electrical & Electronics
• E-Commerce
• Chemicals & Fertilizers
• Other Industrial