Dublin, Ireland -- (SBWIRE) -- 03/17/2021 -- Paper Packaging Market Dynamics (including market size, share, trends, growth, forecast, and industry analysis)

Key Drivers

The global paper packaging market is predicted to witness an upsurge in demand during the forecast period due to the growing consumer consciousness associated with sustainable packaging, as paper packaging materials can be easily recycled and used in comparison to other packaging materials. The strong demand for cheap substitutes for flexible packaging materials is one of the paper packaging industry trends that will upsurge the demand for the global paper packaging market. According to the paper packaging industry outlook, the increasing paper production is one of the major factors surging the growth of the paper packaging market size. For example, the growth in paperboard growth rate fast-tracked to 2.3% in 2017 from 0.7% during 2016 due to the rising economy and population. Additionally, the strong demand for eco-friendly packaging nationwide is primarily driven by the increasing awareness among the population, which will further propel the growth of the market. For example, China recommended a ban on single-use plastic in 2017, which will be fully executed by 2022, thereby growing the adoption of paper packaging products. Canada has launched zero plastic waste (passed in 2018), and the U.S. has introduced the single-use bill to decrease single-use packaging. All these strategic initiatives taken by governmental bodies across the globe have led to the growth in the adoption of paper packaging by following trends. The paper packaging industry is witnessing a sharp fall owing to the strict guidelines associated with deforestation across the country. On the other hand, the factor hindering the growth of the paper packaging market include unfavorable regulations. For example, national forest policy for society requirements to be followed to avoid agricultural impacts, climate change, etc. will further support the market growth.

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Paper Packaging Market's leading Manufacturers:

- DS Smith
- Georgia-Pacific
- Holmen
- Hood Packaging Corporation
- International Paper
- MeadWestvaco Corporation
- Oji Holdings Corporation
- Smurfit Kappa
- Stora Enso Oyj
- Mayr-Melnhof Karton AG

Product Segment Drivers

Based on the Product, liquid packaging cartons is projected to lead the market as they are generally utilized for the packaging of milk and other beverages. For example, the growing number of millennials is estimated to touch 74.9 million by 2033. The rising number of millennials will boost the demand for milk, thereby fuelling the demand for paper packaging in milk and other beverages. Products are majorly distinguished based on applications, such as corrugated cases for transportation, liquid cartons for beverages, etc., which are becoming popular among packaging manufacturers. In addition to this, the rise in the number of applications, the products' demand will further stimulate in the upcoming years.

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Paper Packaging Market Segmentation:

Segmentation by Product:

- Liquid Packaging Cartons
- Corrugated Cases
- Carton & Folding Cases
- Others

Segmentation by Application:

- Beverages
- Fast Food
- Fresh Food
- Dairy & Bakery
- Frozen Food
- Others

Segmentation by Region:

- North America

o United States of America
o Canada

- Asia Pacific

o China
o Japan
o India
o Rest of APAC

- Europe

o United Kingdom
o Germany
o France
o Spain
o Rest of Europe

- RoW

o Brazil
o South Africa
o Saudi Arabia
o UAE
o Rest of the world (remaining countries of the LAMEA region)

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