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SAN FRANCISCO , Feb. 24, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Paper Packaging Materials - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
Edition: 17; Released: February 2022 Executive Pool: 4102 Companies: 95 - Players covered include DS Smith PLC; Georgia Pacific LLC; Holmen AB; Oji Holdings Corporation; WestRock Company and Others. Coverage: All major geographies and key segments Segments: Product (Paper Bags & Sacks, Corrugated Containers & Packaging, Folding Boxes & Cases, Other Products); Application (Food & Beverage, Healthcare, Industrial, Other Applications) Geographies: World; United States ; Canada ; Japan ; China ; Europe (France ; Germany ; Italy ; United Kingdom ; Spain ; Russia ; and Rest of Europe ); Asia-Pacific (Australia ; India ; South Korea ; and Rest of Asia-Pacific ); Latin America (Argentina ; Brazil ; Mexico ; and Rest of Latin America ); Middle East (Iran ; Israel ; Saudi Arabia ; United Arab Emirates ; and Rest of Middle East ); and Africa .
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Global Paper Packaging Materials Market to Reach US$323 Billion by the Year 2026 Paper packaging is a versatile and cost-effective method to protect preserve and transport a broad category of products. The packaging material is lightweight, durable and can be customized to meet specific needs with respect to products and customers. Growth in the global market is driven by enormous increase in demand of paper packaging material in pharmaceutical, cosmetics, food and beverage industry. The increased paper production will contribute to market growth of paper packaging industry. Besides, increasing awareness among potential customers about environmental concerns, rise in adoption of paper materials as sustainable packaging solutions and strict governmental regulations for protecting environment are also the driving forces for market growth. Technological intervention in recycling for paper and increased impetus on R&D initiatives by government and producers are predicted to provide opportunities for market growth. Paper made packaging products are also used to render an aesthetic look to the package and further contribute to the market growth. Corrugated bags for shipping of bulk items are also in high demand and expected to drive demand in the near future. In addition, government ban on use of plastic material is also predicted to create new opportunities for the paper based packaging material market.
Amid the COVID-19 crisis, the global market for Paper Packaging Materials estimated at US$251.7 Billion in the year 2022, is projected to reach a revised size of US$323 Billion by 2026, growing at a CAGR of 5.9% over the analysis period. Paper Bags & Sacks, one of the segments analyzed in the report, is projected to grow at a 5.9% CAGR to reach US$109.1 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Corrugated Containers & Packaging segment is readjusted to a revised 5.4% CAGR for the next 7-year period. This segment currently accounts for a 26.3% share of the global Paper Packaging Materials market. Paper bags are generally made using recycled pulp or Kraft paper, or both. Brand owners are using flexible paper bags and sacks as a source of promotion and marketing.
The U.S. Market is Estimated at $66.3 Billion in 2022, While China is Forecast to Reach $64.6 Billion by 2026 The Paper Packaging Materials market in the U.S. is estimated at US$66.3 Billion in the year 2022. The country currently accounts for a 26.57% share in the global market. China , the world's second largest economy, is forecast to reach an estimated market size of US$64.6 Billion in the year 2026 trailing a CAGR of 7% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada , each forecast to grow at 4.7% and 5.2% respectively over the analysis period. Within Europe , Germany is forecast to grow at approximately 5.4% CAGR while Rest of European market (as defined in the study) will reach US$69.6 Billion by the end of the analysis period. In North America , escalating demand for electronics goods and a growing food and beverages industry offer significant opportunities for corrugated and paperboard boxes. In Asia-pacific region, the increased consumption of ready-to-eat food and growing influence of westernization propels demand in the market.
Folding Boxes & Cases Segment to Reach $82.7 Billion by 2026 In the global Folding Boxes & Cases segment, USA , Canada , Japan , China and Europe will drive the 6.8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$39.9 Billion will reach a projected size of US$64.3 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia , India , and South Korea , the market in Asia-Pacific is forecast to reach US$12.5 Billion by the year 2026, while Latin America will expand at a 7.3% CAGR through the analysis period.
Shift towards Lightweight Corrugated Boxes With growing emphasis on reducing the overall cost weight of packaging as a means to slash transportation costs, producers of corrugated boxes across the world are placing increased emphasis on reducing average weight of the substance, so as to improve yields. In fact, most of the new capacity that has come online during the recent years has focused on the manufacture of lightweight containerboards with of 70-160 gsm, with this trend being particularly pronounced among the newly added Chinese equipment. Most of the lightweight corrugated boards are finding use in Western Europe countries. The weight of finished board across the region has recorded a reduction of 5 gsm on an average between 2009 and 2012. On the other hand, heavyweight boards are finding greater demand in Eastern Europe countries, where the average weight of the boards increased by about 3 gsm during the same period.
One of the key developments in the heavyweight products space has been the development and launch of new offerings such as such as Billerud Flute semi-chemical fluting, which is primarily intended as a substitute for wooden packaging. Such heavyweight boards are also capable of being used as replacements for double-walled board with lightweight single wall substitute. By using corrugated board as a replacement for wooden packaging, producers can achieve significant weight reduction, which in turn translates into better logistics as well as improved cushioning for sensitive heavy products. Furthermore, such material provide for greater availability of printable outer surface. Heavy duty corrugated packaging is of particular significance for automotive and chemical industries, where the demand is rising for lightweight packaging with green image. More
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