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.
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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.
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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In the global paperboard packaging market report, we have discussed individual strategies, followed by company profiles of providers of paperboard packaging. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global paperboard packaging market.
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