Global Paper & Paperboard Packaging Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Paper & Paperboard Packaging Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Paper and paperboard are made from cellulose fibres, extracted from trees, combined together with additives to make a continuous matted web. Paper & Paperboard Packaging, as a traditional packaging material, has become one of the important material pillars of modern packaging.

Market Overview:

The latest research study on the global Paper & Paperboard Packaging market finds that the global Paper & Paperboard Packaging market reached a value of USD 118837.8 million in 2022. It’s expected that the market will achieve USD 145804.2 million by 2028, exhibiting a CAGR of 3.47% during the forecast period.

Influence of COVID-19 Outbreak on Paper & Paperboard Packaging Industry Development

From the production situation of products in Paper & Paperboard Packaging industry, it is more difficult to produce. It is mainly the shortage of upstream materials and enterprises' employment, and the prices of raw materials for products in Paper & Paperboard Packaging industry will also face price increases.

COVID-19 has exerted different influences on the packaging industry. First, industrial, bulk and transportation packaging. The demand for this kind of packaging is closely related to the GDP trend and the level of industrial activities, so the sharp drop related to COVID-19 leads to the reduction of packaging demand. However, some of them were offset by medium-sized bulk containers and barrels hoarded by industrial customers, which led to a temporary surge in demand.

At the same time, the demand in many fields such as packaging in the food and pharmaceutical industries continues to be strong. The high growth of corrugated packaging demand for e-commerce and grocery distribution has also offset some lost demands of industrial customers in other places.

Consumer packaging. With the closure of restaurants and food service outlets during the pandemic, the demand in the food field may change dramatically. Therefore, consumers will continue to turn to grocery shopping, and packaging demand will increase. Consumers' willingness to hoard and panic buying of food, drinks and household care necessities have exacerbated this trend. However, as shops were forced to close and consumers began to cut spending, the demand for non-food and high-quality packaging was hit.

The fifth feature that consumers give priority to in food and beverage packaging at home is the preservation or protection of products, which is related to concerns about food hygiene and safety. Easy storage and resealing are the other two biggest competitors, once again consolidating consumers' preference for food with convenience, safety and long shelf life. However, in the face of coronavirus pandemic, this kind of packaging function may change more dramatically. Attention to aseptic environment may reach its peak, thus raising the hygiene-related expectation of product packaging

Limitations

Paper & Paperboard Packaging industry is located in the middle of the industrial chain, and weak bargaining power is the restricting factor of industry development. The main products in the industry include paper packaging products, cartons, etc., with simple production and processing technology, low capital and technical threshold for industry access, low added value of business activities and strong substitutability.

In addition, in the production cost of Paper & Paperboard Packaging, the raw material cost accounts for a relatively high proportion. The high proportion of raw materials cost causes the enterprises in the industry to be greatly affected by the fluctuation of upstream raw materials prices, which is also a major factor that weakens bargaining power.

At present, the packaging industry is still in a stage of rapid development, and the paper packaging industries have long been overly dependent on resource consumption. Taking the paper packaging industry as an example, it relies on paper, which leads to a large number of felling of trees, resulting in a series of ecological problems such as land desertification and soil erosion. This is not in line with the sustainable development of ecology. Departments and government organizations engaged in the packaging industry are increasingly seeing the severity of the problem. Protecting the environment and actively researching and developing product packaging that meets environmental protection requirements has become a consensus. The future packaging industry production system will definitely have a revolution centered on protecting the environment, saving energy, and benefiting future generations.

Region Overview:

From 2023-2028, North America is estimated to witness robust growth prospects.

Company Overview:

WestRock is one of the major players operating in the Paper & Paperboard Packaging market, holding a share of 13.11% in 2022.
WestRock is one of the world's largest paper and packaging companies. The company aspires to be the premier partner and unrivaled provider of paper and packaging solutions in consumer and corrugated markets.
International Paper is a leading global producer of renewable fiber-based packaging and pulp products with manufacturing operations in North America, Latin America, North Africa and Europe. International Paper produce corrugated packaging products that protect and promote goods and enable worldwide commerce, and pulp for diapers, tissue, and other personal hygiene products that promote health and wellness.

Segmentation Overview:

Among different product types, Corrugated Box segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Food packing segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Paper & Paperboard Packaging market covered in Chapter 3:

Evergreen Packaging Inc.
Smurfit Kappa
SAICA
Mondi Group
DS Smith
WestRock
Stora Enso
Packaging Corporation of America
Cascades Inc.
Alliabox International
Metsa Group
International Paper Company

In Chapter 4 and Chapter 14.2, on the basis of types, the Paper & Paperboard Packaging market from 2018 to 2029 is primarily split into:

Boxboard
Flexible Paper Packaging
Corrugated Box

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Paper & Paperboard Packaging market from 2018 to 2029 covers:

Beverage packaging
Personal & Home Care
Food packing
Other

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)