Paper packaging materials market to reach $553.1 billion by 2031: TMR study

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  • Growing demand for sustainable packaging across multiple end-use industries to generate significant revenue in the paper packaging materials market; use in food and beverage packaging applications to direct abundant lucrative opportunities
  • Application of corrugated boxes in retail packaging to drive revenue growth; opportunities in Asia Pacific rise at a promising pace

WILMINGTON, Del., July 15, 2022 /PRNewswire/ — The use of paper packaging materials to package food products of various types has steadily increased, propelled by the inclination towards the adoption of environmentally friendly packaging solutions. . The abundant use of these in frozen foods, fast foods and fresh foods has greatly expanded the sources of income over the years. The size of paper packaging materials market was attached to US$359.5 billion in 2020. The market value is expected to reach US$553.1 billion in 2031.

Stridingly, the continued shift towards using compostable and recyclable materials in product packaging in other industries, including dairy and bakery, pet food, cosmetics and pharmaceuticals , has expanded lucrative avenues. Paper packaging manufacturers aim to meet the growing market demand for paper packaging materials.

Advancements in the e-commerce industry and focus on reducing the environmental footprint of packaging have boosted the adoption of paper packaging solutions, notes a global paper materials market study. paper packaging. The massive demand for eco-friendly packaging for garments across the globe is providing vast opportunities for the players in the paper packaging materials market. It should be noted that the adoption of paper packaging for clothing is expected to grow over the next few years.

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Key Findings from the Paper Packaging Materials Market Research

  • Increase in Beverage Packaging Demand to Generate Massive Revenue: In developing and developed regions, the demand for paper-based packaging is invigorated by the trend of sustainable packaging solutions. Increase in the adoption of eco-friendly packaging materials for beverages has boosted revenue streams for companies in the paper packaging materials market. Noteworthy BRICS countries have seen their customers increasingly prefer paper over plastics as well as metals to bolster their sustainability credentials, especially in the packaging of a myriad of personal care and food products.
  • Companies deriving revenue from demand for sustainable packaging materials across multiple end-use industries: The massive use of paper in sustainable packaging products for multiple industries, including pharmaceutical, food and beverage, pet food and cosmetics, has propelled revenue generation for companies in packaging. Attractive product attributes such as lightweight, recyclability, and biodegradability have translated into revenue opportunities for companies in the paper packaging materials market. Among the various applications, corrugated boxes held a leading market share in 2020. The outlook is fueled by the increase in the use of corrugated packaging boxes in retail packaging.
  • R&D focus on recent test methods: Companies in the paper packaging materials market rely on unveiling products that comply with the latest standard tests and methods to verify compostability and biodegradability. This helps them build customer confidence. The examples in question are ASTM D6868 and OECD 301B testing methods.

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Paper Packaging Materials Market: Key Drivers

  • The dynamism of the paper packaging materials market stems from the need for versatile packaging materials that are also environmentally friendly in several respects. It should be noted that shipping cartons, corrugated boxes, cartons and folding boxes have demonstrated several benefits of durable and functional packaging for multiple industries.
  • Advances in e-commerce industries in emerging economies have driven businesses to find and exploit inexpensive and environmentally 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. The high adoption of paper materials in a wide range of packaging solutions for end-use industries has propelled the growth of revenues from these regional markets.
  • The TMR study notes, however, that Asia Pacific has become the most attractive region in the paper packaging materials market. It held a large share in 2020 and is expected to grow at a rapid pace over the forecast period. Abundant demand for sustainable packaging solutions in various industries will drive the growth.

Paper Packaging Materials Market: Key Players

Some of the major players in the paper packaging materials market are 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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Segmentation of the paper packaging materials market

  • Product
    • Liquid packaging cartons
    • Corrugated boxes
    • Cartons and folding boxes
    • Others (Bags, Bags, etc.)
  • Application
    • Beverages
    • fast food
    • fresh food
    • Dairy and bakery
    • Frozen food
    • Others (Pet Food, Cosmetics, Pharmaceuticals, etc.)

Regions covered

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • Latin America

Countries

  • WE
  • Canada
  • Germany
  • France
  • UK
  • Italy
  • Russia & IEC
  • China
  • Japan
  • India
  • ASEAN
  • Brazil
  • Mexico
  • GCC countries
  • South Africa

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Our proprietary blend of quantitative forecasting and trend analysis delivers forward-looking insights to thousands of decision makers, made possible by experienced teams of analysts, researchers and consultants. Proprietary data sources and the various tools and techniques we use always reflect the latest trends and information. With a broad research and analytical capability, Transparency Market Research uses rigorous primary and secondary research techniques in all of its trade reports.

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