Paper Packaging Market Growth Accelerated by Increased Demand from E-commerce Retailers

 

Paper packaging offers advantages such as low cost, sustainability, printability, and recyclability. It is widely used for packing of food and beverages, personal care and cosmetics, household products and other consumer goods. With the continued growth of e-commerce retail sector, the demand for paper packaging has accelerated owing to its unique benefits such as lightweight and high strength properties during shipping and deliveries. The global Paper Packaging Market is estimated to be valued at US$ 373.7 Bn in 2023 and is expected to exhibit a CAGR of 4.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Increased demand from e-commerce sector has been a key trend driving the growth of the paper packaging market. factors such as affordability, convenience, rising internet penetration and adoption of smartphones have led to rapid growth of e-commerce retailing across the world. This has significantly boosted the demand for paper packaging solutions that are well-suited for shipping and deliveries of online orders. Paper packaging materials such as corrugated boxes, envelopes, labels etc. provide protective cushioning, are lightweight and enable easy shipping of products. They also help reduce shipping costs for e-commerce retailers by minimizing wasted space inside trucks and containers during transportation. This ongoing surge in e-commerce retail sales worldwide is expected to continue fueling the demand for paper packaging in the coming years.

Segment Analysis

The global paper packaging market is dominated by the protective packaging segment. This segment accounts for more than 35% of the total market share as paper packaging offers effective protection to products against moisture, dust, shocks, and vibration during transportation or storage. Paper-based protective packaging provides an affordable and sustainable solution for cushioning and blocking materials to safeguard goods. Some common types of protective paper packaging are paper bags, paper wraps, boxes, cartons, and mailers.

Key Takeaways

The global paper packaging market is expected to witness high growth.

Regional analysis: The Asia Pacific region currently dominates the global paper packaging market with a share of over 35% in 2023. Rapid urbanization, growing e-commerce industry, and rising incomes in countries like China, India are fueling the demand for paper packaging in the region. The region's market is projected to expand at a CAGR of 5.3% during the forecast period.

Key players operating in the paper packaging market are DS Smith PLC, Georgia-Pacific Corporation, Holmen AB, Hood Packaging Corporation, International Paper Company, MeadWestvaco Corporation, OJI Holding Corporation, Smurfit Kappa Group Plc, Stora Enso Oyj, The Mayr-Melnhof Group, Sonoco Products Company, Pratt Industries and WestRock Company.

The global paper packaging market is expected to witness high growth. The protective packaging segment is predicted to remain the largest and fastest-growing application segment till 2030 driven by increasing demand for sustainable and eco-friendly packaging materials across industries.

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