The packaging paper market is poised for significant growth in the coming years, with a projected increase from USD 45.3 billion in 2022 to USD 72.4 billion by 2032, reflecting a compound annual growth rate (CAGR) of 4.8%.
The global COVID-19 pandemic has had a notable impact on various industries, including the packaging paper market. The extended lockdowns and disrupted supply networks have resulted in a decrease in packaging paper production, presenting challenges for producers. However, market participants are resiliently adapting to the situation and seizing opportunities to overcome these obstacles and sustain their businesses. Despite the challenges, the packaging paper market is expected to witness steady growth in the forecast period.
The expansion of the retail and e-commerce sectors, along with the increasing demand for environmentally friendly packaging materials, are the primary drivers of the packaging paper market. The growth of online shopping platforms has resulted in higher demand for secondary and tertiary packaging products. Moreover, consumer attitudes towards eco-friendly packaging and supportive government initiatives are fostering market growth.
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The food and beverage industry is another significant growth factor for the packing paper market. The industry is shifting towards adopting food-grade paper packaging products to preserve the quality and nutrients of the food.
Innovations aimed at improving product efficiency and creating visually appealing packaging versions are expected to contribute to the growth of the packing paper market.
However, the market faces strong competition from flexible plastic packaging. Modern shoppers prioritize convenience and portability, leading to a shift in packaging design towards flexible and easy-to-handle options. Gusseted flexible pouches have become the preferred packaging for snacks, replacing traditional jars and tins. Flexible pouches are also suitable for packaging gels, liquids, and other products in addition to food and nutraceuticals.
Key Takeaways:
- The CAGR for the cosmetic segment of the end-user category in Packing Paper Market is anticipated to be 4.4% through 2032.
- In the United States, the Packing Paper Market is estimated to reach US$ billion by 2032, rising at a CAGR of % throughout the forecast period.
- By 2032, the Packing Paper Market in the United Kingdom is expected to be valued US$ million, with a CAGR of % through 2032.
- With a CAGR of % throughout the forecast period, China is expected to reach a market size of US$ million in Packing Paper Market by 2032. By 2032, the
- Packing Paper Market in Japan is estimated to be worth US$ million, growing at an annual rate of % through 2032.
- With a CAGR of % throughout the forecast period, South Korea is predicted to reach a market size of US$ million in Packing Paper Market by 2032.
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Competitive Landscape:
India and China have the fastest-growing economies. Developmentally, developing countries still use a great deal of plastic packaging compared to the developed nations of the west. Since plastic is cost-effective and convenient for consumers, it is the perfect material for packaging.
Georgia Pacific announced recently that it is leaving its paper business and will shut down all its paper machines permanently. Another company has already closed its wood yard and pulp mill in Port Hudson, LA. This was due to concerns around the environment, which includes depleting forests.
A number of notable players are operating in the global cardiac reconstruction devices market, including The Packaging Company, Packhelp, Ruskin Group, Purple Co, Moraya Packaging, Pratt Industries, Inc., Mondi Group plc, WestRock Company, Oji Holdings Corporation, DS Smith Packaging Limited, Tat Seng Packaging Group.
Market Benefits:
- The report offers a comprehensive and in-depth analysis of the global packaging paper market, including current trends and future estimations, helping investors identify potential investment opportunities.
- Thorough analysis of key market players and their strategies provides valuable insights into the competitive landscape of the industry, enabling stakeholders to make informed decisions.
- The extensive analysis of the market based on applications allows for a better understanding of industry trends, helping businesses align their strategies accordingly.
- The report presents a quantitative analysis of the market from 2022 to 2032, providing stakeholders with data-driven insights to capitalize on prevailing market opportunities and make well-informed business decisions
Key segments
By Material Type:
- Corrugated Board
- Specialty Paper
- Box-board/Carton Board
- Kraft Papers
- Other
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By End-use Industry:
- Food & Beverage
- Healthcare
- Personal Care & Cosmetics
- Homecare & Toiletries
- E-Commerce
- Chemicals & Fertilizers
- Others
By Packing Type:
- Corrugated Boxes
- Cartons
- Wrapping Paper
- Cups & Tray
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
About FMI
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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