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Paper Packaging Market: Global Top Key Players, Revenue Strategies To 2024

(, June 26, 2019 ) The paper packaging market was valued at USD 67.10 billion in 2018, and is expected to reach a value of USD 100.86 billion by 2024 at a CAGR of 7.60%, over the forecast period 2019-2024. According to the Paper & Packaging Consumer Trends Report, by Asia Pulp & Paper, over 50% of consumers consider packaging waste an important environmental issue, and that sustainability of paper-based packaging is more relevant to them today than it was five years ago.

- The attributes, like lightweight, biodegradability, and recyclability, are the advantages of paper packaging that make them an essential component in today’s modern life. Paper packaging is a versatile and cost-efficient method to protect, preserve, and transport a wide range of products. In addition, it can be customizable to meet the customer or product-specific needs.
- Every product, from electronics to food, beverage, and cosmetics, can be packaged using paper, such as corrugated container boxes are used to ship and transport electronics, fragile glassware, and perishable goods. Moreover, the rising consumer consciousness, regarding sustainable packaging, along with the strict regulations being imposed by various environmental protection agencies, regarding the use of environment-friendly packaging products, is driving the market for paper packaging.
- The fact that the developed economies in North America and Europe possess strong paper-recycling capabilities, supported by established infrastructure, has driven the rate of adoption of paper-based packaging. In addition, the rapid growth of online shopping and delivery-on-demand services have fueled the usage of cardboard and paper-based bags. However, the effects of deforestation on paper packaging and rising operational costs are challenging the growth of the market.

Scope of the Report
Paper packaging is one of the most used eco-friendly packaging solutions. The ability of this format of packaging to be produced in many sizes with a small footprint, when compared to other bulkier packaging options, makes it feasible for use in almost all end-user industries. Depending upon the various end-user industries different product can be used for packaging.

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Key Market Trends
Food and Beverages to Account for a Significant Portion of the Paper Packaging Market

- A fierce competition exists between the quality-product providers in the food market. Due to these parameters, manufacturers in the food market are continuously making and delivering high-quality products.
- The increase in the number of hypermarkets and supermarkets is expected to be one of the key factors driving the growth of the paper and paperboard containers and packaging market over the coming years. Besides, the increasing sales of paperboard-based products, the demand for super trays for vegetables and fresh fruits in the hypermarket contribute to the matket growth.
- A rapidly expanding organized-retail sector has led to an augmented demand for food and beverages and other consumer care products. Most retail stores use packaging materials not only to preserve food but also to retain the nutritional value of food. An increasing number of consumers are purchasing grocery items, including frozen and chilled foods, which, in turn, is expected to drive the growth of the paper packaging market.
- The food manufacturing companies have become cautious and are making extra efforts in the packaging of products. Various ranges of packaging materials in the market are available to fulfill various packaging needs, like corrugated boxes and cardboard boxes.

Asia-Pacific to Contribute Significantly to the Market Growth

- The increasing number of manufacturing plants all over the region, combined with the growing consumerism and transit packaging sector in the Asia Pacific, is contributing to the growth of the paper packaging market. Among the countries of Asia-Pacific, China occupied the largest market share and India is estimated to be the fastest growing market over the forecast period.
- The Indian pharmaceutical manufacturing market is of immense importance as it facilities the manufacturing of generic drugs in India, in a cost-effective manner to stay competitive in the market. This factor is making the pharmaceutical companies, across the world, to choose India as their manufacturing destination.
- Even the Government of India is taking steps to provide incentives in the form of soft loans for the up gradation of Schedule M facilities to WHO GMP compliant units, which leads to additional 1000 units certified as WHO GMP compliant, further boosting the packaging of cartons and folding boxes, thus, driving the market for paper packaging.
- Corrugated boxes segment is expected to dominate the APAC paper packaging market, owing to the escalating rate of exports and the developing logistics sector of the country.
- Strong growth in sectors, like fast-moving consumer goods (FMCG) and cosmetics, due to the fast-growing middle-class population along with organized retailing, is expected to spur the demand for paper packaging in the region.

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Competitive Landscape
The paper packaging market is fragmented as many players are entering into the packaging market. Moreover, innovation and development by players are making the market competitive. Some of the key players include Westrock, International Paper Company, Tetra Pak Group, Amcor Limited, Mondi Group, Smurfit Kappa Group Plc.,DS Smith Plc., among others.

- April 2019 - Amcor launched Amite Ultra Recyclable, its first packaging product made from the company’s revolutionary and more sustainable high-barrier polyolefin film. It can reduce a pack’s carbon footprint by about 64%.

Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support

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Major Point of TOC:






Chapter Six: Competitive Landscape



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