Global Paper and Paperboard Packaging Market : Trends and Forecast to 2024
Rising awareness among consumers regarding the use of sustainable packaging materials is likely to aid the adoption of paper and paperboard packaging products, states Transparency Market Research in a new report. The report is titled, “Paper & Paperboard Packaging Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024.”
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The report is an in-depth analysis of the historical growth trajectory along with present market scenario and future growth opportunities of the global paper and paperboard packaging market. The study further enunciates all the important elements at play in the global paper and paperboard packaging market and also describes the factors driving and restraining the progress of the market along with the analysis of the competitive scenario prevalent in the market. High concerns over sustainable development and recycling paper wastes are likely to drive the adoption of paper and paperboard packaging products in future.
According to the report, the demand for paper and paperboard packaging materials is anticipated to rise in numerous industry verticals such as home care, personal care, food and beverages, and healthcare among others. Additionally, paper and paperboard packaging also have applications in sectors ranging from freight and carriers to construction, and education and stationery. Paper and paperboard packaging materials are also used in the manufacturing of cardboard boxes, cartons, and packaging labels.
The report states that the growing need for recycling paperboard and paper in order to achieve sustainable growth is anticipated to augment the adoption of paper and paperboard packaging materials in the coming years. The growth of the global paper and paperboard packaging market is also attributed to the rise in the consumption of convenience food products. However, it is going to be a challenge for manufacturers of paper and paperboard packaging to replace plastic packages in the food sector in countries such as India and China.
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The study states that the companies operating in the global paper and paperboard packaging market are striving to enhance their consumer base by offering packaging and consulting services along with their core products and services to end users. Companies are shifting their focus towards such strategies owing to the stagnant growth in the paper and paperboard manufacturing industry. Geographically, the study segments the global paper and paperboard packaging market into Japan, Asia Pacific excluding Japan, Middle East and Africa, Eastern Europe, Western Europe, Latin America, and North America. The leading players in the global paper and paperboard packaging market are International Paper Company, Packaging Corporation of America, Cascades Inc., Amcor Ltd., DS Smith Plc., Nippon Paper Industries Co. Ltd., and Mondi Group among others.
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