Paper & Paperboard Packaging Market to Surpass USD 319.62 Billion by 2031 Driven by Sustainability Concerns and E-commerce Boom

Rising Demand for Biodegradable Packaging and Flourishing E-commerce Fuel Market Growth

The Paper & Paperboard Packaging Market valued at USD 219.66 Billion in 2023, is anticipated to achieve a valuation of USD 319.62 Billion by 2031. This translates to a compound annual growth rate (CAGR) of 4.8% throughout the forecast period from 2024 to 2031. The market’s growth is primarily fueled by a surge in consumer preference for eco-friendly packaging solutions, coupled with the relentless e-commerce boom.

Paper & Paperboard Packaging offers a sustainable alternative to plastic packaging. Made from wood pulp and recycled paper (around 40%), it boasts biodegradability and reduces environmental pollution. This lightweight and protective material is ideal for transport and storage, making it a popular choice across various industries. The flourishing food industry, projected to reach USD 4.07 trillion by 2023, further propels the demand for this eco-friendly packaging solution. E-commerce heavily relies on paperboard packaging, particularly corrugated boxes, for safe and secure delivery.

Recent Developments In The Industry

• JMC Paper Tech Private Limited initiated construction of a recycled fiber-based Kraft paper mill in North America in May 2023. The mill, with a capacity of 150 TPD, is expected to commence production in mid-2024.
• Mesta Board plans to establish a paperboard mill in Kaskinen, Finland. The investment decision is anticipated in 20

Get a Free Sample Report of Paper & Paperboard Packaging Market@ https://www.snsinsider.com/sample-request/2830 

Factors Driving The Market Growth

Growing demand for biodegradability and green packaging is a key growth factor in the Paper & Paperboard Packaging Market. The ability to recycle raw materials used in production prevents raw waste disposal and minimizes pollution. Consumers are increasingly environmentally conscious, driving demand for sustainable packaging options. Additionally, paperboard packaging is cost-efficient, customizable, easy to handle, and durable, making it a compelling choice for manufacturers.

MARKET SEGMENTATION

By Raw Material:

• Wood Pulp
• Recycled Waste Paper

By Product type:

• Folding Boxboard
• Solid Bleached Sulfate
• Label Paper
• White Lined Chipboard
• Glassline & Grease Paper
• Others

By Application:

• Durable Goods
• Food & Beverages
• Medical
• Non-Durable Goods
• Others

Dominating Segments and Future Potential

The paper & paperboard packaging market is segmented by raw material, product type, and application. Recycled waste paper usage, currently at 40% of the mix, is expected to increase due to sustainability concerns. Product types like folding boxboard (common in food & beverage) are likely to maintain dominance, while high-quality options like SBS could see growth in the cosmetics sector. Label paper demand hinges on the overall growth of packaged goods. White lined chipboard, glassine & grease paper cater to specific needs and may see moderate growth. Application segments see food & beverage as the leader due to rising packaged food demand. Durable goods might see slower growth due to alternative packaging options, while non-durable goods show promise. Niche growth is expected in medical and other applications depending on specific regulations.

Major Key Players Included are:

Smurfit Kappa Group plc, DS Smith plc, Packaging Corporation of America, International Paper Company, Nippon Paper Industries Company Ltd, ITC Ltd, Sappi Limited, Metsa Group, Stora Enso Oyj, Svenska Cellulosa Aktiebolget

Russia-Ukraine War and Economic Slowdown

The Paper & Paperboard Packaging Market is facing a double challenge due to the Russia-Ukraine war and the global economic slowdown. The war has disrupted the global supply chain, hindered the transportation of goods and led to a significant rise in raw material prices. This is particularly impactful for India, which relies heavily on Russia for raw material imports. As a result, paper prices have shot up by 40%, rising from Rs. 70,000 per ton to Rs. 100,000 per ton.

Further compounding the issue is the economic slowdown in India, the price of waste paper has plummeted to its lowest point in five months due to overcapacity and a global recession. This has caused a decline in demand for paper & paperboard packaging and forced small vendors to halt waste paper collection.

Grab Attractive Discount@ https://www.snsinsider.com/discount/2830 

Key Benefits of This Paper & Paperboard Packaging Market Report

• Identify the key growth drivers and trends shaping the market, allowing you to make informed decisions regarding product development, marketing strategies, and investment opportunities.
• Understand the competitive landscape, including dominant segments and emerging players, to gain a competitive edge and position your business for success.
• Gain insights into potential challenges such as supply chain disruptions and economic slowdowns, enabling you to proactively mitigate risks and ensure business continuity.
• Explore upcoming trends like technological advancements and growing demand in emerging economies to prepare for the future of the market and adapt your strategies accordingly.
• Identify market segments and regions with high-growth potential, guiding your investment decisions for maximum return.

Buy Single User PDF of Paper & Paperboard Packaging Market Report@  https://www.snsinsider.com/checkout/2830 

Table of Contents – Major Key Points

1 Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

2 Research Methodology

3 Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

4 Impact Analysis

4.1 Impact of Russia-Ukraine War

4.2 Impact of Ongoing Recession

4.3 Impact of Covid-19

5 Value Chain Analysis

6 Porter’s 5 forces model

7 PEST Analysis

8 Paper & Paperboard Packaging Market Segmentation, By Raw Material

8.1 Wood Pulp

8.2 Recycled Waste Paper

9 Paper & Paperboard Packaging Market Segmentation, By Product Type

9.1 Folding Boxboard

9.2 Solid Bleached Sulfate

9.3 Label Paper

9.4 White-Lined Chipboard

10 Paper & Paperboard Packaging Market Segmentation, By Application

10.1 Durable Goods

10.2 Food & Beverages

10.3 Medical

10.4 Non-Durable Goods

10.5 Others

11 Regional Analysis

12 Company Profile

13 Competitive Landscape

13.1 Competitive Benchmarking

13.2 Market Share Analysis

13.3 Recent Developments

14 USE Cases and Best Practices

15 Conclusion

For more information, visit: https://www.snsinsider.com/reports/paper-and-paperboard-packaging-market-2830 

About Us:

SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company’s aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.