Asia Pacific Paper Packaging Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 190.55 Billion |
| Market Size (2029) | USD 245.48 Billion |
| CAGR (2024 - 2029) | 4.98 % |
| Market Concentration | Medium |
Major Players.webp "Asia Pacific Paper Packaging Market Major Players")
*Disclaimer: Major Players sorted in no particular order |
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Asia Pacific Paper Packaging Market Analysis
The Asia Pacific Paper Packaging Market size is estimated at USD 190.55 billion in 2024, and is expected to reach USD 245.48 billion by 2029, growing at a CAGR of 4.98% during the forecast period (2024-2029).
- India and China, among the world's most populous nations, have various end-user industries that rely on paper-based packaging. With countries like China, India, Japan, Hong Kong, and Singapore gravitating towards alternative packaging solutions, the Asia-Pacific region is poised for remarkable growth in the paper and paperboard market. Responding to rising demands, the Chinese government has actively modernized packaging options, positioning China at the forefront of regional consumer goods revenue.
- Over the next decade, India aims to progress its industry towards a more sustainable and smart trajectory. This transition is primarily fueled by policies banning single-use plastics and prioritizing recycling and biodegradation. Such measures give India a distinct chance to pivot its industry towards bio-based and paper-based packaging. This move would support sustainability nd would curtail import costs. Furthermore, it redirects the emphasis on domestic ethylene production, aiming to substitute imported chemicals and polymers, including methyl ethyl ketone, PVC, and ethylene oxide.
- Furthermore, e-commerce has solidified its position as a critical player in the market. Major e-commerce giants, including Amazon, predominantly rely on corrugated board boxes for packaging. In an objective to reduce reliance on single-use plastics, several e-commerce firms are actively transitioning from traditional corrugated boxes and paper bags. This shift is anticipated to drive further growth in the market..
- The rising demand for food packaging is set to drive the market further. Countries in the Asia-Pacific region, notably China, Japan, and India, have seen a surge in online food ordering, which has bolstered the paper packaging market. Paper packaging ensures that online meals and groceries reach their destinations safely.
- Irresponsible deforestation poses a significant threat to the paperboard packaging industry by depleting essential raw materials despite the rising demand for paper packaging. The Union of Concerned Scientists highlighted that "wood products," including paper, contribute to approximately 10% of global deforestation. Furthermore, the production of many paper packaging types is water-intensive. Excessive water usage in this production could negate the environmental advantages of opting for paper over plastic packaging, presenting a challenge to market growth.
Asia Pacific Paper Packaging Market Trends
Food Segment to Hold Significant Market Share
- The rise of new food and beverage companies and the significant growth of food delivery giants like Zomato and Swiggy have spurred a heightened demand for paper and packaging in India. As a result, the consumption of food and beverage packaging has surged. Notably, Zomato pioneered the introduction of tamper-resistant packaging in the food delivery realm, underscoring its commitment to food safety and freshness.
- Food packaging has evolved considerably, prioritizing brand visibility while ensuring the food item's integrity and quality. Local manufacturers fiercely compete, not only among themselves but also against multinational corporations (MNCs). To stay ahead, many have established dedicated research and development departments focused on testing and implementing cutting-edge technologies and prioritized their sustainable packaging, creating market growth opportunities.
- In the food processing industry, packaging materials are chosen based on the customized requirements of each food product. Key factors guiding these choices encompass thermal sealability, process capability, printability, strength, and barrier properties (such as resistance to water, oil, and gas). Research and development efforts among stakeholders in the paper packaging market bolster these considerations, aiming to elevate the properties and aesthetics of packaging.
- Furthermore, in China, decision-making is significantly influenced by cost-efficiency, sustainability, and adherence to legal regulations. In China, paper constitutes a significant segment of the food packaging market. Leveraging its unique advantages, paper is predominantly employed in food packaging to safeguard food products, enhance convenience during storage and consumption, and convey essential information to consumers, including marketing details.
- The food delivery industry in Japan predominantly relies on paper-based products driven by consumer awareness of sustainable packaging. This trend is part of a broader movement within the packaging sector to embrace paper. Additionally, as online food delivery gains traction in countries like China, food companies prioritise paper-based packaging solutions, further bolstering market growth.
India is Expected to Hold a Significant Market Share
- The paper and paperboard industry has been registering significant opportunities and challenges during a transition phase to offer more affordable alternatives. The paper mills in India are actively experimenting to produce paper and paperboard tailored for various applications, including carrying, protecting, wrapping, packaging, and serving as containers. Additionally, in recent years, India has witnessed a surge in demand for upstream paper products, including tissue paper, tea bags, filter paper, lightweight online coated paper, and medical-grade coated paper.
- The restrictions on physical movement, social distancing, and the closure of physical stores during the COVID-19 pandemic impacted a significant surge in online orders for the Indian e-commerce industry. Across the nation, individuals increasingly turned to online platforms for groceries, meals, and other essentials. Since the e-commerce and retail sectors are among the country's top consumers of paper and paperboard solutions, this trend is anticipated to drive a heightened demand for sustainable packaging solutions.
- Additionally, India's rapidly expanding industrial landscape, including food and beverage and cosmetics, is witnessing accelerated growth. Government initiatives aimed at curbing plastic waste are further propelling this market's expansion. Consequently, heightened consumer awareness, coupled with India's burgeoning organized food sector, is fueling this market's growth. In FY 2023, India's export value for paper and paperboard products reached approximately USD 3.04 Billion, according to the data reported by the Department of Commerce in India.
- The paper packaging market in India is expanding, fueled by a consistent demand for premium packaging across diverse sectors. These include fast-moving consumer goods (FMCG), pharmaceuticals, textiles, organized retail, and the surging e-commerce landscape. Moreover, the rising demand for paper and paperboard packaging is driven by products like fruit pulp, juices, concentrates, sauces, and ketchup bottles. Notably, the Indian industry has embraced sustainability and has made significant technological advancements.
- The Indian Paper Manufacturers Association (IPMA) projected that India's paper consumption would grow from 6% to 7% annually, reaching 30 million tonnes by FY 2026-2027. This growth is mainly fueled by a heightened focus on education and literacy, alongside a surge in organized retail. Additionally, given that India's per capita paper consumption is among the lowest globally, the paper industry in the country showcases vast growth potential.
Asia Pacific Paper Packaging Industry Overview
The Asia-Pacific paper packaging market is fragmented, owing to key players such as SCG Packaging PCL, Huhtamaki Group, Amcor, Oji Holdings Corporation, and International Paper Company. Through continuous research and development activities, players in the market have introduced innovations in their offerings that allow them to offer sustainability to their consumers.
- February 2024 - Shirako Corporation has selected Oji Holdings Corporation's paper packaging for its 'Sumapura' brand of seasoned seaweed, bolstering the Japanese seaweed producer's sustainability initiatives. By shifting to paper-based packaging, Shirako has reduced plastic usage by 92% and doubled its shelf life. This shows the market vendors' commitment to R&D, focusing on high-barrier and mechanically robust paper packaging solutions to maintain competitiveness.
- October 2023 - Charoen Pokphand Foods Public Company signed an MoU with SCG Packaging PCL and SCG Chemicals (SCGC) to launch the Green Packaging Initiative in Thailand. The companies would work together to find an environmental and sustainability solution for food packaging in this context. In particular, a partnership between CP Foods and SCG Packaging PCL would facilitate innovation in paper packaging.
Asia Pacific Paper Packaging Market Leaders
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SCG Packaging PCL
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Huhtamaki Group
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International Paper Company
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Oji Holdings Corporation
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Amcor
*Disclaimer: Major Players sorted in no particular order
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Asia Pacific Paper Packaging Market News
- January 2024 - The Fedrigoni group, a speciality paper manufacturer for luxury packaging and other creative applications, self-adhesive labels and materials, and RFID and connectivity solutions acquired Arjowiggins China. The paper factory in Quzhou manufactures transparent papers sold under the Gateway and Sylvicta brands for applications such as industrial design and graphics for food, consumer electronics, or luxury packaging located in the Zhejiang Province.
- December 2023 - The State Bank of India invested in the paper packaging industry by injecting INR 49.99 crore (USD 6.04 million) into Canpac Trends Private Limited, a company based in Ahmedabad specialising in paper-based packaging solutions. SBI invested in Canpac Trends with a view to capital appreciation, highlighting the growth and profitability potential of the paper packaging industry.
Asia Paper Packaging Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
- 4.1 Market Overview
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4.2 Industry Attractiveness - Porter's Five Forces Analysis
- 4.2.1 Bargaining Power of Suppliers
- 4.2.2 Bargaining Power of Buyers
- 4.2.3 Threat of New Entrants
- 4.2.4 Threat of Substitute Products
- 4.2.5 Intensity of Competitive Rivalry
5. MARKET DYNAMICS
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5.1 Market Drivers
- 5.1.1 Sustained Rise in E-commerce Sale to Drive Demand For Folding Cartons
- 5.1.2 Growing Emphasis on the Use of Recycled Paper by Major End Users to Aid the Transition to Paper Packaging Materials
- 5.1.3 Growing Share of Healthcare and Cosmetic Segments
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5.2 Market Challenges
- 5.2.1 Challenges Related to Availability of Raw Materials Leading to Price Fluctuations
6. MARKET SEGMENTATION
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6.1 By Grade
- 6.1.1 Carton Board
- 6.1.1.1 Solid Bleached Sulfate (SBS)
- 6.1.1.2 Solid Unbleached Sulfate (SUS)
- 6.1.1.3 Folding Boxboard (FBB)
- 6.1.1.4 Coated Recycled Board (CRB)
- 6.1.1.5 Uncoated Recycled Board (URB)
- 6.1.2 Containerboard
- 6.1.2.1 White-top Kraftliner
- 6.1.2.2 Other Kraftliners
- 6.1.2.3 White top Testliner
- 6.1.2.4 Other Testliners
- 6.1.2.5 Semi Chemical Fluting
- 6.1.2.6 Recycled Fluting
- 6.1.3 By Product
- 6.1.3.1 Folding Cartons
- 6.1.3.2 Corrugated Boxes
- 6.1.4 By End-user Industry
- 6.1.4.1 Food
- 6.1.4.2 Beverage
- 6.1.4.3 Healthcare
- 6.1.4.4 Personal Care
- 6.1.4.5 Household Care
- 6.1.4.6 Electrical Products
- 6.1.4.7 Other End-User Industries
- 6.1.5 By Country
- 6.1.5.1 China
- 6.1.5.2 India
- 6.1.5.3 Japan
- 6.1.5.4 Indonesia
- 6.1.5.5 Thailand
- 6.1.5.6 Vietnam
- 6.1.5.7 Australia and New Zealand
- 6.1.5.8 Rest of Asia-Pacific
7. COMPETITIVE LANDSCAPES
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7.1 Company Profiles*
- 7.1.1 SCG Packaging PCL
- 7.1.2 International Paper Company
- 7.1.3 Sarnti Packaging Co. Ltd
- 7.1.4 Oji Holdings Corporation
- 7.1.5 Mondi Group
- 7.1.6 Huhtamaki Group
- 7.1.7 Harta Packaging Industries (Selangor) Sdn Bhd
- 7.1.8 Amcor
- 7.1.9 Hong Thai Packaging Company Limited
- 7.1.10 New Asia Industries Co. Ltd (Rengo Co. Ltd)
- 7.1.11 C&H Paperbox (Thailand) Co. Ltd
- 7.1.12 Continental Packaging (Thailand) Co. Ltd
- 7.1.13 West Rock Company
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
Asia Pacific Paper Packaging Industry Segmentation
Paper is frequently used to package products in several end-user industries. There are numerous grades of paperboard packaging. Like folding cartons, paperboard is the most common material used to manufacture containers. In manufacturing, the paperboard requires pulping, bleaching (optional), refining, sheet forming, drying, calendaring, and winding. Paper packaging materials can be efficiently reused and recycled compared to other materials, such as metals and plastics. This is why paper packaging is considered an eco-friendly and economical form of packaging. The study tracks the demand in the paper packaging market through the revenue accrued from the various paper packaging products offered by vendors operating in the market in the region.
The Asia-Pacific Paper and Packaging Market Report is Segmented by Grade (Carton Board {Solid Bleached Sulfate [SBS], Solid Unbleached Sulfate[SUS], Folding Boxboard [FBB], Coated Recycled Board [CRB], and Uncoated Recycled Board [URB]} and Containerboard {White-Top Kraft-Liner, Other Kraft-Liners, White Top Test-Liner, Other Test-Liners, Semi-Chemical Fluting, and Recycled Fluting}), Product Type (Folding Cartons, Corrugated Boxes), End-User Industry (Food, Beverage, Healthcare, Personal Care, Household Care, Electrical Products, and Other End-User Industries), and Country (China, India, Japan, Indonesia, Thailand, Vietnam, Australia and New Zealand, Rest of Asia-Pacific). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
| By Grade | Carton Board | Solid Bleached Sulfate (SBS) |
| Solid Unbleached Sulfate (SUS) | ||
| Folding Boxboard (FBB) | ||
| Coated Recycled Board (CRB) | ||
| Uncoated Recycled Board (URB) | ||
| By Grade | Containerboard | White-top Kraftliner |
| Other Kraftliners | ||
| White top Testliner | ||
| Other Testliners | ||
| Semi Chemical Fluting | ||
| Recycled Fluting | ||
| By Grade | By Product | Folding Cartons |
| Corrugated Boxes | ||
| By Grade | By End-user Industry | Food |
| Beverage | ||
| Healthcare | ||
| Personal Care | ||
| Household Care | ||
| Electrical Products | ||
| Other End-User Industries | ||
| By Grade | By Country | China |
| India | ||
| Japan | ||
| Indonesia | ||
| Thailand | ||
| Vietnam | ||
| Australia and New Zealand | ||
| Rest of Asia-Pacific |
Asia Paper Packaging Market Research FAQs
How big is the Asia Pacific Paper Packaging Market?
The Asia Pacific Paper Packaging Market size is expected to reach USD 190.55 billion in 2024 and grow at a CAGR of 4.98% to reach USD 245.48 billion by 2029.
What is the current Asia Pacific Paper Packaging Market size?
In 2024, the Asia Pacific Paper Packaging Market size is expected to reach USD 190.55 billion.
Who are the key players in Asia Pacific Paper Packaging Market?
SCG Packaging PCL, Huhtamaki Group, International Paper Company, Oji Holdings Corporation and Amcor are the major companies operating in the Asia Pacific Paper Packaging Market.
What years does this Asia Pacific Paper Packaging Market cover, and what was the market size in 2023?
In 2023, the Asia Pacific Paper Packaging Market size was estimated at USD 181.06 billion. The report covers the Asia Pacific Paper Packaging Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia Pacific Paper Packaging Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Asia Pacific Paper Packaging Industry Report
Statistics for the 2024 Asia Pacific Paper Packaging market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Asia Pacific Paper Packaging analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
