Paperboard Packaging Market Outlook 2031
The global paperboard packaging market was valued at US$ 194.5 Bn in 2021
It is estimated to expand at a CAGR of 4% from 2022 to 2031
The global paperboard packaging market is expected to reach US$ 299.4 Bn by the end of 2031
Overview of Global Paperboard Packaging Market
Paperboards are manufactured from wood pulp or layers of paper. The thickness of paper piles defines the paperboard, which is usually larger as compared to paper in order to maintain the weight to area ratio. For instance, according to the International Organization for Standardization, the weight should be 224g/m2 to consider it as paperboard. Depending on application, paperboard can be single ply or multi-ply. Paperboard offers good printing surface and excellent print quality, which makes it ideal information carriers and brand builders.
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Paperboard is utilized in cosmetics, clothing, footwear, and food industries. Paperboard is a strong, lightweight, smooth, versatile, and cost-effective packaging solution. Approximately 70% of paperboards are recycled, making them ideal for sustainable packaging as compared to plastics, metals, and glasses.
Paper and paperboard containers are currently biodegradable and more environment-friendly than plastic, making them more appealing to consumers. Paper and paperboard containers are recyclable, reusable, energy-efficient, and conserve natural resources. Consequently, the environmental benefits of paper and paperboard containers are expected to boost their adoption by businesses in various industries, including retail, which in turn is estimated to drive the global paperboard packaging market.
According to Transparency Market Research’s latest research report on the paperboard packaging market, rise in usage of paperboard packaging in pipe re-lining and building & construction is a key factor that is expected to boost the global paperboard packaging market during the forecast period.
Increase in Usage of Paperboard Packaging in Cosmetic & Personal Care and Chemical Industries
The growing demand for paperboard packaging in key end-use industries such as construction, especially non-residential construction, is projected to fuel the global paperboard packaging market. Rapid rise in global population, especially in developing countries, is anticipated to boost the construction, automotive, and appliances sectors in these countries. This, in turn, is projected to propel the demand for paperboard packaging.
The growth of e-commerce and cosmetic & personal care packaging industries is anticipated to drive the global paperboard packaging market in the near future. Furthermore, growth of the medical industry, which forms a major part of non-durable goods, is estimated to boost the paper packaging market. Large brand end-users are focusing on sustainable packaging.
This rise in demand for sustainable packaging has boosted the paperboard packaging market, as paperboard is an ideal option for sustainable packaging as compared to plastics and metal.
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White Line Chipboard (WLC) Product Segment Dominates Global Paperboard Packaging Market
In terms of product, the global paperboard packaging market has been classified into boxboard and containerboard. Depending on the grade and processing of the boxboard, the boxboard segment has been further sub-segmented into folding boxboard (FBB), solid unbleached boxboard (SUB), solid bleached boxboard (SBB), and white lined chipboard (WLC). The demand for white lined chipboard (WLC) was highest as compared to other boxboards in 2021. Containerboard includes corrugated containerboard and linerboard. In terms of volume, the containerboard segment held a major share of the paperboard packaging market across the globe in 2021. The containerboard segment is estimated to expand significantly during the forecast period, owing to high demand from applications in regions such as Asia Pacific and Latin America.
Rise in Adoption of Paperboard Packaging in Food and Beverage Applications
In terms of application, the paperboard packaging market has been segregated into food & beverages, non-durable goods, durable goods, medical and others. The others segment includes industrial and machineries packaging. The food & beverages segment accounted for a prominent share of the global paperboard packaging market in 2021 due to the rapid expansion of the packaged food industry. Frozen foods, alcoholic and non-alcoholic beverages, candies, dairy goods, quick foods, and fresh fruits and vegetables are all included in this application category. The good operational qualities of paperboard packaging are responsible for the robust expansion witnessed by the segment. This packaging is suitable for food contact, can work at a variety of temperatures, and aids in the preservation of organoleptic qualities over time.
Regional Outlook of Global Paperboard Packaging Market
Asia Pacific was a prominent market for paperboard packaging in 2021, led by expansion of the packaged food and cosmetic & personal care packaging industries. Hence, demand for paperboard packaging in Asia Pacific is expected to increase at a sluggish pace over the next few years. The market in Asia Pacific is anticipated to expand at a rapid pace, followed by Latin America. The growth of the e-commerce and cosmetic & personal care industries in countries such as India, China, and Japan is likely to propel the demand for paperboard packaging in Asia Pacific during the forecast period.
Countries such as China, Japan, and India are driving the demand for paper and paperboard packaging in Asia Pacific. Due to an increase in disposable income in developing countries, the market for paper and paperboard packaging in Asia Pacific is predicted to grow over the next five years. Furthermore, demand is being fueled by on-the-go consumption in nations such as India, China, and Japan. Food and beverage consumption is rising consistently in China and India, which is propelling the paperboard packaging industry. Thus, the demand for paperboard packaging is expected to rise during the forecast period, due to expansion of the food & beverage industry.
Europe and North America are relatively mature markets as compared to the markets in other regions. The U.S. dominates the paperboard packaging market in the North America, where food is expected to continue as the primary end-user of folding cartons. For instance, according to the Association for Packaging and Processing Technologies, the food industry in the U.S. is expected to grow at a CAGR of 2.9% by the end of 2022.
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Analysis of Key Players in Global Paperboard Packaging Market
Detailed profiles of providers of paperboard packaging have been included in the report to evaluate their financials, key product offerings, recent developments, and strategies. The global paperboard packaging market is moderately concentrated, with the top six players accounting for more than 60% of the market in 2020. Key players operating in the global paperboard packaging market include Clearwater Paper Corporation, DS Smith Plc. ITC Ltd., International Paper Company, Mondi Group, Metsa Group, Nippon Paper Industries Co. Ltd., Oji Holdings Corporation, Stora enso Oyj, South Africa Pulp and Paper Industries Ltd., Shandong Bohui Paper Company Ltd., Smurfit Kappa Group Plc., Svenska Cellulosa Aktibolaget, and WestRock Company. The companies are focusing on research & development, mergers, joint ventures, collaborations, and product innovation strategies.
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