Paper and Paperboard Container and Packaging Market
GMI Research presumes that the global Paper and Paperboard Packaging Market will register a CAGR of 5.1% over the forecast period of 2020-2029. The factors steering the market growth are the rising consciousness pertaining to viable packaging materials and the growing adoption in food industry.
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Paper and Paperboard Container and Packaging Market Dynamics
The global Paper and Paperboard Packaging Market size is being driven by the increasing agitation towards environment across several end-use industries, such as e-commerce, pharmaceuticals an ecommerce. These end-use industries have adopted packaging solutions to help them attain a durable barrier protection with the minimal carbon discharge. Besides tis, other factors, such as evolution of specialised paper and paperboard containers and the growing demand for viable packaging materials will further raise the market growth.
The significant expansion in the e-commerce industry has raised the need of paper and paper based containers as e-commerce companies demand a wide variety packaging solutions in the market. Several leading vendors are emphasising on developing a lightweight and better performing corrugated boxes to enhance performance, offer flexibility, and decrease costs. However, the growth of the market can be hindered by the limited resilience of paper bags, adoption of bioplastic packaging, and the risk of infection with recycled paperboard.
End-User Segment Drivers
Based on end-user, the food and beverage segment is anticipated to expand at a remarkable rate over the forecast period. This is because of its remarkable features, such as ease of use to the customers and environment friendly. Brands working in this segment are emphasising on providing feasible packaging solutions that can easily be opened and reclosed, and are easy to carry. The paper and paperboard containers also help in preserving the food and sustaining the food’s nutritional value.
Regional Drivers
By region, the Asia-Pacific region is likely to dominate the market with the largest share during the forecast period. This is because of the growing demand for paper and paperboard container and packaging by food and beverages, e-commerce, and pharmaceuticals industries. Moreover, as per the paper and paperboard container and packaging market report, the increasing environmental concerns, enforcement of strict norms regarding recyclable packaging materials, and the growing apprehension about pollution level caused by non-recyclable and non-biodegradable packaging solutions will further elevate the market growth.
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