Packaging which uses papers and boards are known as paper packaging. Paper packaging is done by various materials such as cardboard, Kraft paper, cartridge paper, and recycled paper. Tetra packs, cartons, and folding boxes, sacks, bags, and corrugated cases are some of the different types of products of paper packaging having applications in fast food, fresh food, dairy and bakery, frozen foods, pet food, cosmetics, and pharmaceuticals industries. Paper packaging materials possess superior properties such as it can be reused and recycled easily thus gaining an advantage over other packaging materials such as metal and plastic. Paper packaging materials serve to be lightweight, economic, and eco-friendly which is one of the major drivers for the growth of this market. Additionally, this market is expected to grow at a rapid rate due to the increasing demand for paper-based flexible packaging because of increasing consumer awareness about the adverse effect of plastics on the environment. Moreover, strong economic situations in BRIC countries are expected to drive the paper packaging market in these regions. As paper remains to be the largest material used in the packaging industry the growth in the packaging market is estimated to boost demand for paper packaging. The rigid deforestation regulations in several countries worldwide are expected to largely slow down the growth of the market over the forecast period. The opportunity for the growth of this market shortly is the ban on lightweight plastic bags. Major Shift from rigid packaging to flexible packaging also aids in the growth of this market.
The paper packaging market is categorized by different products such as liquid packaging cartons, carton and folding boxes, corrugated cases, and others. Liquid packaging cartons are the largest product segment of the paper packaging materials due to their extensive use in milk and juice box packaging. Increasing use in retail packaging due to progress in design innovation the demand for corrugated cases is expected to drive product demand. Moreover, corrugated cases being highly durable, reusable, recyclable, and lightweight are expected to witness rapid growth therefore boosting the market growth of paper packaging. The demand for cartons and folding boxes is expected to show significant growth over the next few years due to its growing demand in decorative and bulk packaging.
Paper packaging serves wide applications in beverages, fast foods, fresh food, dairy and bakery, frozen foods, and others (cosmetics, pharmaceuticals, pet food). Beverages contributed as the largest application segment of paper packaging due to the increase in consumption of functional beverages and juices. Application segments such as fresh foods, frozen foods, and fast foods are expected to show rapid growth in the paper packaging materials market over the forecast period due to the increasing use of paper to wrap and envelop food products. Technological advancement in food applications such as the development of laminated and coated papers which prevents leakage is further expected to raise the demand for paper packaging. The paper packaging market is expected to be the fastest-growing segment because of efficiency, versatility, innovation, and sustainability which adds value to food and other products.
North America and Europe have shown significant growth over the last few years and accounted for over half the global demand for paper packaging materials due to an increase in flexible packaging. Asia Pacific market is expected to show the fastest growth for paper packaging in the upcoming years due to the growth in the overall packaging industry in the region. The roW is expected to gain substantial market share during the forecast period due to the upcoming packaging industry in these regions and rising per capita spending of consumers in these regions. An increase in consumption and demand for consumer goods will further drive the need for more paper packaging worldwide.
Key companies in the paper packaging market include DS Smith Plc, MeadWestvaco, OJI Holding Corporation, The Mayr-Melnhof Group, International Paper Company, Smurfit Kappa Group Plc., Stora Enso Oyj, Sonoco Products Company, Mondi Group, Georgia-Pacific Corporation, and Nippon Paper Group Inc. among others.
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FDA, in particular, has relaxed the nutrition labeling of products which is expected to aid in increasing the distribution of packaged foods by restaurant operators leading to the optimum supply chain of products to consumers. Furthermore, food safety testing and processing industries are expected to function at full capacity owing to consumers stock-piling goods during the COVID-19 lockdown. The report will account for Covid19 as a key market contributor.