Paper Packaging Materials Market to Reach US$ 553.1 Bn by 2031: TMR Study

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Jul 14, 2022, 21:30 ET

Rising demand for sustainable packaging in multiple end-use industries to generate sizable revenues in the paper packaging materials market; utilization in food & beverages packaging applications to steer abundant lucrative opportunities
Application of corrugated cases in retail packaging to spur revenue growth; opportunities in Asia Pacific to rise at promising pace

WILMINGTON, Del., July 15, 2022 /PRNewswire/ -- Use of paper packaging materials for wrapping food products of various types has been steadily rising, propelled by inclination toward adoption of environmentally friendly packaging solutions. Abundant use of these in frozen foods, fast foods, and fresh foods has expanded the revenue streams considerably over the years. The size of the paper packaging materials market was pegged at US$ 359.5 Bn in 2020. The market value is projected to reach US$ 553.1 Bn in 2031.

Stridently, continued shift toward the use of compostable and recyclable materials in the packaging of products in other industries notably including dairy & bakery, pet foods, cosmetics, and pharmaceuticals have broadened lucrative avenues. Paper packaging manufacturers are geared toward meeting proliferating demand of paper packaging materials market.

Strides in e-commerce industry and emphasis on reducing the environmental footprint of the packaging have spurred the adoption of paper packaging solutions, notes a global market study on paper packaging materials. Massive demand for eco-friendly packaging for apparel worldwide underpins vast opportunity for players in the paper packaging materials market. Of note, the adoption of paper packaging for clothes is likely to grow in the next few years.

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Key Findings of Paper Packaging Materials Market Study

Rise in Demand in Beverage Packaging to Generate Massive Revenues: In developing and developed regions, the demand for paper-based packaging is invigorated by the trend of sustainable packaging solutions. Rise in adoption of environmentally friendly packaging materials for beverages has spurred the revenue streams for firms in the paper packaging materials market. BRICS nations of note have witnessed customers increasingly preferring paper over plastics as well as metals to boost their sustainability credentials, especially in the packaging for myriad personal care and food products.
Companies Capturing Revenues from Demand for Sustainable Packaging Materials in Multiple End-Use Industries: Massive use of paper in sustainable packaging products for multiple industries including pharmaceutical, food & beverages, pet food, and cosmetics has propelled revenue generation for packaging companies. Attractive products attributes such as light-weightiness, recyclability, and biodegradability have translated into revenue opportunities for firms in the paper packaging materials market. Of the various applications, corrugated cases held a leading market share in 2020. Prospects are fueled by rise in utilization of corrugated packaging boxes in retail packaging.
R&D Focus on Meeting Recent Testing Methods: Companies in paper packaging materials market are leaning on unveiling products that comply with latest tests and standard methods to ascertain the compostability and biodegradability. This helps them bolster customer trust. Cases in point are ASTM D6868 and OECD 301B testing methods.

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Paper Packaging Materials Market: Key Drivers

The drive for paper packaging materials market stems from the need for versatile packaging materials that are also environmentally friendly in several ways. Of note, packaging cartons, corrugated cases, and cartons and folding boxes have demonstrated several benefits of sustainable and functional packaging for multiple industries.
Strides made in the e-commerce industries in emerging economies have nudged companies to find and exploit inexpensive and eco-friendly packaging materials

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Paper Packaging Materials Market: Regional Growth Dynamics

North America and Europe jointly held a share of more than 50% of the global paper packaging materials market in 2020. High uptake of paper materials in wide range of packaging solutions for end-use industries has propelled the revenue growth of these regional markets.
The TMR study however notes that Asia Pacific has emerged as the most attractive region in the paper packaging materials market. It held a major share in 2020, and is forecast to expand at rapid pace during the forecast period. Abundant demand for sustainable packaging solutions in various industries will spur the growth.

Paper Packaging Materials Market: Key Players

Some of the key players in the paper packaging materials market are The Mayr-Melnhof Group, Smurfit Kappa Group Plc, Stora Enso Oyj, MeadWestvaco Corporation, Oji Holdings Corporation, Hood Packaging Corporation, International Paper Company, Holmen AB, DS Smith PLC, and Georgia-Pacific Corporation.

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Paper Packaging Materials Market Segmentation

Product

Liquid Packaging Cartons
Corrugated Cases
Cartons & Folding Boxes
Others (Sacks, Bags, etc.)

Application

Beverages
Fast Food
Fresh Food
Dairy & Bakery
Frozen Food
Others (Pet Food, Cosmetics, Pharmaceuticals, etc.)

Regions Covered

North America
Europe
Asia Pacific
Middle East & Africa
Latin America

Countries

U.S.
Canada
Germany
France
U.K.
Italy
Russia & CIS
China
Japan
India
ASEAN
Brazil
Mexico
GCC Countries
South Africa

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