The global paperboard jars market is anticipated to witness a CAGR of nearly 3% during the forecast period from 2022 to 2032. The market is projected to garner a market value worth USD 265 Billion by 2032. The growth of the market can be attributed to the increasing paper bottle in food supplements, personal care products, home care products, and wines and spirits.
Paperboard jars are made from recycled paper and are lightweight jars. These jars have the ability to retain freshness and prevent aroma migration. Paperboard jars are pocket-friendly and are eco-friendly, which is a significant factor enhancing their popularity among the manufacturers.
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Paperboard jars are lighter in weight but at the same time, they are durable and sturdy. They are made with various layers coated on the inside with barrier layers for the protection of food. The paperboard cans used for food packaging are vacuum-sealed that provide moisture against and oxygen that keeps the product fresh and edible.
Despite the dominance of plastic jars and metal, paperboard jars are projected to create their position in the food and beverages and cosmetics industry. Further, the increasing awareness about the negative impact of non-biodegradable materials and the rising environmental concerns are projected to augment the demand for paperboard jars among the manufacturers. Government bodies across the globe have framed various models in their countries that aim to replace the toxic application of plastic with paper bottles.
Paperboard jars are the most suitable choice for shop displays when it comes to the distinctiveness of the product. The paperboard jars enhance the aesthetics and provide high-quality embossing and the application of varnishes. The established players of the market are increasing efforts to develop growth curve for their business, thereby, benefitting the industry.
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What are the factors Enhancing the Paperboard Jars Demand?
Growing awareness about the declining environment and the rising awareness regarding the toxic characteristics of plastics is anticipated to play a significant role in boosting the paperboard jars demand during the forecast period. The need for sustainability has been identified as the major cause bolstering the paperboard jars sales. The developed and developing regions are expected to contain lucrative demand for the product owing to the high disposable income.
The manufacturers of the industry are making efforts to pull the market graph up through collaborations and partnerships. Established players such as; Coca-Cola, Carlsberg, PepsiCo, and other players have collaborated with the manufacturers of the paper bottle to obtain innovative solutions as to how to cut down on the usage of plastic.
Moreover, these players are making significant investments in R&D to offer more efficient materials that are ideal for their products. Therefore, the increasing collaborations and partnerships are expected to assist in the market growth in the forecast period.
What Challenges likely to Restrain Paperboard Jars Industry Progress?
Questions about adequate availability of economical plastic bottles is expected to be the key factor hampering the market growth during the forecast period. Further, procurement of raw materials for the production of plastic bottles is comparatively easier, which is another important factor slowing down the expansion of the market.
Another salient factor hampering the market growth is that plastic bottles are preferred over paperboard jars owing to the fact that they have a greater lifespan than paperboard jars. The shelf life of a paper bottle is about 12 months, the durability tends to reduce after that. Therefore, the lesser durability offered by paperboard jars as compared to the plastics is yet another reason hindering the market rise in the forecast period.
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Which Region is anticipated to hold the Largest Opportunity for Sales of Paperboard Jars?
According to the analysis, North America is anticipated to hold the maximum opportunity for the sales of paperboard jars during the forecast period, growing at a CAGR of 4%. The growth of the market can be attributed to the increasing adoption of packaging of dry snacks & confectioneries.
Further, the increasing paperboard jars demand in cosmetic manufacturers is another important cause augmenting the paperboard jars industry. In addition, the stringent rules imposed by the government of various developed nations of the region are likely to offer notable opportunities for expansion to the paperboard jars market.
The US is projected to be the most lucrative market in North America. The contribution of the country can be attributed to the presence of maximum players. Further, the ease of procuring raw material is another important cause bolstering the industry in the region.
How is Asia Pacific Widening Growth Prospects for Paperboard Jars?
Asia Pacific is anticipated to be a lucrative market during the forecast period. The growth of the region can be attributed to the rising demand for packaged foods, and the growing awareness regarding environmental protection.
Further, the increasing disposable income and rapid urbanization occurring in the region are projected to contribute significantly. The presence of developing countries such as; India and China have been identified as the most lucrative regions, making notable contributions in boosting the paperboard jars sales.
The growing preference for appealing and sustainable paperboard containers is making a significant contribution in bolstering the regional market. In addition, the increasing inclination of cosmetic manufacturers is likely to augment the market size for paperboard jars in the region.
Market Competition
The notable players of the global paperboard jars market comprise Paper Tube Co., Chicago Paper Tube & Can Company, Sonoco Products Company, Nagel Paper, Irwin Packaging Pty, Ace Paper Tube and WestRock Company, among others.
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