Paper and Paperboard Packaging Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 398.65 Billion |
| Market Size (2029) | USD 501.08 Billion |
| CAGR (2024 - 2029) | 4.68 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Paper and Paperboard Packaging Market Analysis
The Global Paper and Paperboard Packaging Market size is estimated at USD 398.65 billion in 2024, and is expected to reach USD 501.08 billion by 2029, growing at a CAGR of 4.68% during the forecast period (2024-2029).
Paperboard, like folding cartons, is the most common material used to make containers. The paperboard must undergo processes such as pulping, optional bleaching, refining, sheet forming, drying, calendaring, and winding to manufacture paper. Paper packaging materials can be easily reused and recycled compared to other materials, such as metals and plastics.
- Paperboard packaging is the preferred option in the packaged food market. It can be found in various foods, including soups, seasonings, and dairy products. Paperboard is usually covered with polymers or plastics to keep it clean and unspoiled. Compared to glass and metal, it helps reduce the final product's total weight while maintaining the freshness of the food product. Due to its odor and taste neutrality, paperboard is the perfect packing material.
- The expansion of e-commerce sales and the rising demand for folded carton packaging are two major factors driving the market. However, the availability of high-performance substitutes is likely to restrain the growth of the market. Paperboard packaging is one of the most popular eco-friendly packaging options. Compared to other bulkier packaging solutions, this packaging format can be created in various sizes with a small footprint, making it suitable for use in almost all end-user sectors.
- Consumers worldwide are becoming more conscious of the environmental hazards of packaging and are moving their purchasing habits to more environment-friendly options. Consumers, the government, and the media put pressure on manufacturers to make their products, packaging, and processes more environment friendly. People are willing to pay more for environment-friendly packaging. Thus, the paperboard packaging industry is expected to grow due to these trends.
- However, despite an increase in demand for paper packaging, irresponsible deforestation will severely impact the paperboard packaging industry by causing a loss of raw materials soon. According to the Union of Concerned Scientists, "wood products," such as paper, account for around 10% of total deforestation. Other major contributors include cattle, soybeans, and palm oil.
- The COVID-19 pandemic wreaked havoc on the packaging sector, with the impacts of nationwide lockdowns, corporations shifting their sourcing away from China, and materials used in packaging being reconsidered. Although there has been a substantial impact on the supply side of paper packaging, large growth in end-user demand in specific applications has significantly expanded the scope of paper packaging.
Paper and Paperboard Packaging Market Trends
This section covers the major market trends shaping the Paper & Paperboard Packaging Market according to our research experts:
Increase in Demand from the Food and Beverage Sector
- Food and beverage manufacturers are making more significant efforts to provide sustainable materials and packaging, functional and convenient displays, and healthier food options to meet consumer demands. Paper bags are becoming increasingly popular in restaurants, hotels, cafes, and other food establishments. Similarly, the growing popularity of on-the-go meals and online food delivery services has increased the demand for paper bags in food service.
- The same essential element that drives trends in drinks also influences trends in beverage packaging, which is consumer preference. Consumer expectations have changed due to sustainability, customization, and e-commerce, which motivates package innovation.
- In response to consumer demand, leading international food and beverage businesses have set objectives to make all packaging recyclable or biodegradable. For instance, Bacardi stated its intention to eliminate plastic by 2030 by inventing new paper-based beverage bottles, joining the global push against single-use plastics. This dedication to circular economy concepts can result in greater advancements in the paper industry.
- Furthermore, sustainability has gained prominence in the food and beverage industry, with CPGs addressing the significant carbon footprint incurred by product packaging. According to the United Nations, plastic waste has increased from 2 million metric tons in 1950 to 348 million metric tons in 2017, which is expected to double by 2040.
Asia-Pacific is Expected to Hold Significant Share
- The Asia-Pacific region is one of the largest folding carton packaging markets, and the demand is likely to expand due to its significant potential expansion. This is mainly driven by China, a major buyer of folding cartons, as it is in many other industries. It is expected to slow in China as the economy shifts from manufacturing to services.
- The market's demand in some emerging Asian countries is expected to be strong, while growth in older markets, such as North-East Asia, is expected to be slow. The Asia-Pacific region dominates the global folding carton packaging industry. The demand for the market increases due to the rising demand for ready-to-eat meals in China, India, and Southeast Asian countries.
- As the focus is changing to eco-friendly and sustainable practices, folding carton demand has been growing across several industries in the Asia-Pacific, including food and beverage, healthcare, personal care, homecare, retail, and others. Consumer awareness of sustainable packaging preferences, raw material availability, the lightweight, biodegradable, and recyclable characteristics of paper, and deforestation have all contributed to the demand for folding carton packaging in the region.
- Demand for folding carton packaging is likely to rise due to rising consumption in India and Southeast Asia. A small number of significant participants define the market. Recycled-grade packaging is the most popular due to its use in non-contact categories, such as breakfast cereals and tea.
- India, China, Japan, and South Korea are major countries in the Asia-Pacific region experiencing a surge in industrialization, providing substantial opportunities for corrugated packaging product manufacturers. Corrugated boxes are used in numerous industries, such as food and beverage, electronics, and e-commerce. These boxes are witnessing increased demand in the region as people become more aware of ecological and cost-effective packaging options.
- Furthermore, the personal care market in China has been one of the fastest-growing sectors in the last few years, benefitting from an increasingly engaged consumer base, which is augmenting the growth of the market studied.
Paper and Paperboard Packaging Industry Overview
The global market for paperboard packaging is quite fragmented. Nippon Paper Industries Co. Ltd, Mondi, METS BOARD, WestRock Company, and ITC Limited are among the major companies. The corporations continue to innovate and form strategic partnerships to maintain their market share.
In December 2022, in collaboration with FRESH!PACKING, Mondi created a cutting-edge cooler bag for consumers to transport frozen or chilled foods. While boosting cooling protection by up to 2.5 times, the Fresh!Bag's exterior layer is entirely made of sturdy kraft paper from Mondi, replacing the multi-material, non-recyclable packaging that was previously utilized. The cooling portion of the bag is made from pulp. It is enclosed in kraft paper from Mondi, which is certified as completely recyclable in Europe's current paper waste streams. Due to the paper's high stretchability, stitching the many plies together to form a sturdy bag structure was made simple.
In September 2022, Smurfit Kappa disclosed that it had agreed to buy PaperBox, a packaging facility in Saquarema, 70 kilometers east of Rio de Janeiro. Since it already operates in Minas Gerais, Rio Grande do Sul, and Ceará, this acquisition considerably widened Smurfit Kappa's operational base in Brazil.
Paper and Paperboard Packaging Market Leaders
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International Paper Company
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Eastern Pak Limited
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Mondi Group
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Smurfit Kappa Group
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DS Smith PLC
*Disclaimer: Major Players sorted in no particular order
Paper and Paperboard Packaging Market News
- December 2022: WestRock Company announced it successfully acquired Grupo Gondi's remaining interest for USD 970 million plus debt assumption. The Grupo Gondi acquisition includes four paper mills, nine corrugated packaging facilities, and six high graphic facilities throughout Mexico. These facilities produce sustainable packaging for a variety of regional end markets. The company's dominant position in the expanding corrugated packaging, consumer goods, paperboard, and containerboard markets in Latin America will be strengthened by this acquisition.
- September 2022: Mondi concluded merging its Mondi Tire Kutsanand Mondi Olmuksan companies. The transaction created a new company called Mondi Turkey Oluklu Mukavva to Mondi's corrugated packaging business area. The company has nine corrugated packaging facilities, a containerboard mill in Tire, Turkey, and a wastepaper collection facility in Adana, Turkey, and it is traded on the Istanbul Stock Exchange (BIST). Mondi owns an 84.65% ownership in Mondi Turkey Oluklu Mukavva, which has around 1,600 workers.
Paper and Paperboard Packaging Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definitions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHT
- 4.1 Market Overview
-
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
- 4.3 Industry Ecosystem Analysis
- 4.4 Impact of COVID-19 on the Market
5. MARKET DYNAMICS
-
5.1 Market Drivers
- 5.1.1 Increasing Demand from the Food and Beverage Sector
- 5.1.2 Regulations on Plastic-based Packaging Products Contribute to Higher Demand
- 5.1.3 Increasing Growth of E-commerce Creates Demand for Various Paper and Paperboard Packaging Types
-
5.2 Market Challenges
- 5.2.1 Increasing Raw Material Costs and Outsourcing
- 5.2.2 Effects of Deforestation on Paper and Paperboard Packaging
6. MARKET SEGMENTATION
-
6.1 North America
- 6.1.1 By Product Type
- 6.1.1.1 Folding Cartons
- 6.1.1.2 Corrugated Boxes
- 6.1.1.3 Other Product Types
- 6.1.2 By End-user Vertical
- 6.1.2.1 Food
- 6.1.2.2 Beverage
- 6.1.2.3 Healthcare
- 6.1.2.4 Personal Care
- 6.1.2.5 Electrical
- 6.1.2.6 Other End-user Verticals
- 6.1.3 By Country
- 6.1.3.1 United States
- 6.1.3.2 Canada
-
6.2 Europe
- 6.2.1 By Product Type
- 6.2.1.1 Folding Cartons
- 6.2.1.2 Corrugated Boxes
- 6.2.1.3 Other Product Types
- 6.2.2 By End-user Vertical
- 6.2.2.1 Food
- 6.2.2.2 Beverage
- 6.2.2.3 Healthcare
- 6.2.2.4 Personal Care
- 6.2.2.5 Electrical
- 6.2.2.6 Other End-user Verticals
- 6.2.3 By Country
- 6.2.3.1 United Kingdom
- 6.2.3.2 Germany
- 6.2.3.3 France
- 6.2.3.4 Italy
- 6.2.3.5 Poland
- 6.2.3.6 Rest of Europe
-
6.3 Asia-Pacific
- 6.3.1 By Product Type
- 6.3.1.1 Folding Cartons
- 6.3.1.2 Corrugated Boxes
- 6.3.1.3 Other Product Types
- 6.3.2 By End-user Vertical
- 6.3.2.1 Food
- 6.3.2.2 Beverage
- 6.3.2.3 Healthcare
- 6.3.2.4 Personal Care
- 6.3.2.5 Electrical
- 6.3.2.6 Other End-user Verticals
- 6.3.3 By Country
- 6.3.3.1 China
- 6.3.3.2 India
- 6.3.3.3 South Korea
- 6.3.3.4 Japan
- 6.3.3.5 Indonesia
- 6.3.3.6 Thailand
- 6.3.3.7 Australia
- 6.3.3.8 Rest of Asia-Pacific
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6.4 Middle East and Africa
- 6.4.1 By Product Type
- 6.4.1.1 Folding Cartons
- 6.4.1.2 Corrugated Boxes
- 6.4.1.3 Other Product Types
- 6.4.2 By End-user Vertical
- 6.4.2.1 Food
- 6.4.2.2 Beverage
- 6.4.2.3 Healthcare
- 6.4.2.4 Personal Care
- 6.4.2.5 Electrical
- 6.4.2.6 Other End-user Verticals
- 6.4.3 By Country
- 6.4.3.1 Saudi Arabia
- 6.4.3.2 United Arab Emirates
- 6.4.3.3 Egypt
- 6.4.3.4 Israel
- 6.4.3.5 Qatar
- 6.4.3.6 Rest of Middle East and Africa
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6.5 Latin America
- 6.5.1 By Product Type
- 6.5.1.1 Folding Cartons
- 6.5.1.2 Corrugated Boxes
- 6.5.1.3 Other Product Types
- 6.5.2 By End-user Vertical
- 6.5.2.1 Food
- 6.5.2.2 Beverage
- 6.5.2.3 Healthcare
- 6.5.2.4 Personal Care
- 6.5.2.5 Electrical
- 6.5.2.6 Other End-user Verticals
- 6.5.3 By Country
- 6.5.3.1 Brazil
- 6.5.3.2 Mexico
- 6.5.3.3 Argentina
- 6.5.3.4 Colombia
- 6.5.3.5 Rest of Latin America
7. TRADE SCENARIO
- 7.1 Historical Import-Export Analysis
- 7.2 List of Major Importing Countries
- 7.3 List of Major Exporting Countries
- 7.4 Key Takeaways
8. COMPETITIVE LANDSCAPE
-
8.1 Company Profiles
- 8.1.1 International Paper Company
- 8.1.2 Eastern Pak Limited
- 8.1.3 Mondi Group
- 8.1.4 Smurfit Kappa Group
- 8.1.5 DS Smith PLC
- 8.1.6 WestRock Company
- 8.1.7 Packaging Corporation of America
- 8.1.8 Cascades Inc.
- 8.1.9 Nippon Paper Industries Ltd
- 8.1.10 Sonoco Products Company
- *List Not Exhaustive
9. FUTURE OUTLOOK OF THE MARKET
Paper and Paperboard Packaging Industry Segmentation
Paper and paperboard are frequently used for packaging several end-user industries' products. There are numerous grades of paperboard packaging. Paperboard, like folding cartons, is the most common material used to make containers. The paperboard requires processes such as pulping, optional bleaching, refining, sheet forming, drying, calendaring, and winding to manufacture paper. Paper packaging materials can be easily 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 Paper and Paperboard Packaging Market is Segmented into North America (By Product Type (Folding Cartons, Corrugated Boxes), End-user Vertical (Food, Beverage, Healthcare, Personal Care, Electrical, Other End-user Verticals), and Country (United States, Canada)), Europe (By Product Type (Folding Cartons, Corrugated Boxes, Other Products Types), End-user Vertical (Food, Beverage, Healthcare, Personal Care, Electrical, Other End-user Verticals), and Country (United Kingdom, Germany, France, Italy, Poland, Rest of Europe)), Asia-Pacific (By Product Type (Folding Cartons, Corrugated Boxes, Other Products Types), End-user Vertical (Food, Beverage, Healthcare, Personal Care, Electrical, Other End-user Verticals), and Country (China, India, South Korea, Japan, Indonesia, Thailand, Australia, Rest of Asia-Pacific)), Middle East and Africa (By Product Type (Folding Cartons, Corrugated Boxes, Other Products Types), End-user Vertical (Food, Beverage, Healthcare, Personal Care, Electrical, Other End-user Verticals), and Country (Saudi Arabia, United Arab Emirates, Egypt, Israel, Qatar, Rest of Middle East and Africa)), and Latin America (By Product Type (Folding Cartons, Corrugated Boxes, Other Products Types), End-user Vertical (Food, Beverage, Healthcare, Personal Care, Electrical, Other End-user Verticals), and Country (Brazil, Mexico, Argentina, Columbia, Rest of Latin America)). The market sizes and forecasts are provided in terms of value (USD billion) for all the above segments.
| North America | By Product Type | Folding Cartons |
| Corrugated Boxes | ||
| Other Product Types | ||
| North America | By End-user Vertical | Food |
| Beverage | ||
| Healthcare | ||
| Personal Care | ||
| Electrical | ||
| Other End-user Verticals | ||
| North America | By Country | United States |
| Canada | ||
| Europe | By Product Type | Folding Cartons |
| Corrugated Boxes | ||
| Other Product Types | ||
| Europe | By End-user Vertical | Food |
| Beverage | ||
| Healthcare | ||
| Personal Care | ||
| Electrical | ||
| Other End-user Verticals | ||
| Europe | By Country | United Kingdom |
| Germany | ||
| France | ||
| Italy | ||
| Poland | ||
| Rest of Europe | ||
| Asia-Pacific | By Product Type | Folding Cartons |
| Corrugated Boxes | ||
| Other Product Types | ||
| Asia-Pacific | By End-user Vertical | Food |
| Beverage | ||
| Healthcare | ||
| Personal Care | ||
| Electrical | ||
| Other End-user Verticals | ||
| Asia-Pacific | By Country | China |
| India | ||
| South Korea | ||
| Japan | ||
| Indonesia | ||
| Thailand | ||
| Australia | ||
| Rest of Asia-Pacific | ||
| Middle East and Africa | By Product Type | Folding Cartons |
| Corrugated Boxes | ||
| Other Product Types | ||
| Middle East and Africa | By End-user Vertical | Food |
| Beverage | ||
| Healthcare | ||
| Personal Care | ||
| Electrical | ||
| Other End-user Verticals | ||
| Middle East and Africa | By Country | Saudi Arabia |
| United Arab Emirates | ||
| Egypt | ||
| Israel | ||
| Qatar | ||
| Rest of Middle East and Africa | ||
| Latin America | By Product Type | Folding Cartons |
| Corrugated Boxes | ||
| Other Product Types | ||
| Latin America | By End-user Vertical | Food |
| Beverage | ||
| Healthcare | ||
| Personal Care | ||
| Electrical | ||
| Other End-user Verticals | ||
| Latin America | By Country | Brazil |
| Mexico | ||
| Argentina | ||
| Colombia | ||
| Rest of Latin America |
Paper and Paperboard Packaging Market Research FAQs
How big is the Global Paper and Paperboard Packaging Market?
The Global Paper and Paperboard Packaging Market size is expected to reach USD 398.65 billion in 2024 and grow at a CAGR of 4.68% to reach USD 501.08 billion by 2029.
What is the current Global Paper and Paperboard Packaging Market size?
In 2024, the Global Paper and Paperboard Packaging Market size is expected to reach USD 398.65 billion.
Who are the key players in Global Paper and Paperboard Packaging Market?
International Paper Company , Eastern Pak Limited , Mondi Group, Smurfit Kappa Group and DS Smith PLC are the major companies operating in the Global Paper and Paperboard Packaging Market.
Which is the fastest growing region in Global Paper and Paperboard Packaging Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Paper and Paperboard Packaging Market?
In 2024, the Asia-Pacific accounts for the largest market share in Global Paper and Paperboard Packaging Market.
What years does this Global Paper and Paperboard Packaging Market cover, and what was the market size in 2023?
In 2023, the Global Paper and Paperboard Packaging Market size was estimated at USD 380.83 billion. The report covers the Global Paper and Paperboard Packaging Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Paper and Paperboard Packaging Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Paper and Paperboard Packaging Industry Report
Statistics for the 2023 Paper and Paperboard Packaging market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Paper and Paperboard 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.
