Paper and Paperboard Container and Packaging Market size to record USD 59.15 billion growth from 2023-2027, Advent of smart packaging is one of the key market trends, Technavio

NEW YORK, May 9, 2024 /PRNewswire/ -- The global paper and paperboard container and packaging market size is estimated to grow by USD 59.15 billion from 2023 to 2027, according to Technavio. This growth is expected to occur at a Compound Annual Growth Rate (CAGR) of 4.39% during the forecast period.

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Key Trends Fueling Growth

• Advent of smart packaging: 
• Smart packaging integrates sensor technology to enhance product quality and value. It directly measures product quality and relays crucial information to businesses for prompt decision-making. Industries like food, beverage, and healthcare utilize smart packaging to monitor freshness and ensure product safety. The global smart packaging market, although in its early stages, shows promising growth potential driven by advancements in microsensors and IoT.
• The adoption of smart paper packaging is rising, particularly in healthcare for medicine monitoring. These packages engage consumers by providing real-time product information and personalized designs.
• Leading vendors like WestRock offer innovative solutions like CerePak Smart Adherence Packaging, equipped with microprocessors and conductive inks to track pill usage. The increasing popularity of smart paper packaging is expected to drive demand in the forecast period, positively impacting the global paper container market.

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Major Challenges:

• Chances of contamination with recycled paperboard 
• The necessity to reduce paper waste in landfills drives the push for recycling. However, recycling paper for packaging may compromise product quality. The paper industry utilizes waste paper for various secondary packaging, including folding boxes and cans. Recycled paperboard, often containing printing inks and glue, poses risks, especially in food packaging.
• Harmful substances, like mineral oils from printing inks, may migrate into food products over time, raising health concerns. Without preventive measures, such contamination could impede the adoption of recycled paper packaging for food.
• Private-label manufacturers must address this issue promptly to safeguard consumer health and sustain market growth. Failure to do so could hinder the global paper and paperboard container market's expansion in the foreseeable future.

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Segmentation Overview

1. Product 
• 1.1 Paper bags and sacks
• 1.2 Corrugated containers and packaging
• 1.3 Folding boxes and cases
• 1.4 Others
2. End-user 
• 2.1 Food and beverages
• 2.2 Industrial products
• 2.3 Healthcare
• 2.4 Others
3. Geography 
• 3.1 APAC
• 3.2 Europe
• 3.3 North America
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Paper bags and sacks- The paper bags and sacks segment is expected to grow significantly in the coming years. These bags are widely used in the food and beverage as well as construction industries due to their low cost and versatility. They offer a simple yet effective way to protect, store, and transport various goods. Paper bags are eco-friendly, can be recycled, and come in different sizes to meet different needs.

• In 2017, this segment was valued at USD 70.18 billion and is expected to continue growing. High-quality paper bags are used to package items like tea, coffee, nuts, snacks, and candies, enhancing their appearance on shelves. In the construction industry, sack bags are preferred for storing and transporting materials such as sand, dirt, and debris due to their cost-effectiveness.
• With increasing demand in these industries, market players are introducing innovative products to meet the needs of customers. This trend is likely to drive growth in the paper and paperboard packaging market in the forecast period.

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Analyst Review

The Paper and Paperboard Container and Packaging Market encompasses the production and distribution of various packaging solutions, including paperboard containers and folding cartons. These packaging types are extensively used in the food beverage industries and consumer spending sectors for processed and packed goods. The manufacturing process involves several stages such as pulping, bleaching, refining, sheet forming, drying, calendaring, and winding.

High strength paper and cartons are preferred due to their durability and convenience. The market is influenced by demographic trends and changing lifestyles, leading to an increase in e-commerce sales and e-retailing channels. Brands in cosmetics and other industries rely on these packaging solutions for their printing surface and brand-building purposes. Plastic alternatives are also gaining popularity due to environmental concerns.

Market Overview

The Paper and Paperboard Container and Packaging Market encompasses the production, sale, and use of paper and paperboard containers and packaging. These products are essential in various industries, including food and beverage, cosmetics, pharmaceuticals, and electronics. The market is driven by factors such as increasing consumer demand for sustainable packaging solutions, growing e-commerce sector, and advancements in technology leading to innovative packaging designs.

Key players in this market focus on enhancing product functionality, improving sustainability, and reducing costs to cater to evolving consumer preferences and industry trends. The global paper and paperboard container and packaging market is projected to grow significantly in the coming years, with major contributions from Asia Pacific and Europe.

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Key Topics Covered:

 1 Executive Summary
 2 Market Landscape
 3 Market Sizing
 4 Historic Market Size
 5 Five Forces Analysis
 6 Market Segmentation

• Product 
• Paper Bags And Sacks
• Corrugated Containers And Packaging
• Folding Boxes And Cases
• Others
• End-user 
• Food And Beverages
• Industrial Products
• Healthcare
• Others
• Geography 
• APAC
• Europe
• North America
• South America
• Middle East And Africa

 7 Customer Landscape
 8 Geographic Landscape
 9 Drivers, Challenges, and Trends
10 Venodr Landscape
11 Vendor Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio