The global paper packaging market was $240.15 billion in 2016 and is estimated to reach $345.31 billion by 2022 growing at a CAGR of 6.24%. Of the paper packaging market, paperboard is estimated to be the fastest growing market with a forecasted growth rate of 7.5% during the period 2016-2022. Moreover, it also leads the market having a share of 36% making it the point of focus for the suppliers.
Paper packaging has the highest market share of the total packaging market. Added to this, the demand for paper packaging will continue to witness growth over the forecast period.
APAC region leads the market with a revenue share of 34% in 2016, followed by Europe and North America. Developing economies like India and China will drive the market for paper packaging segment, with applications across industries like healthcare, personal care, homecare, retail and others.
The carton board market is dominated by European producers exporting them to APAC because of limited domestic production capacity while, on the other hand, containerboard is majorly domestically produced in the region. Competition from other materials, especially flexible plastics, continues unabated, though rising oil prices work in favor of paper-based packaging.
Rock Tenn and MeadWestvaco merged to create a leading global provider of consumer and corrugated packaging. It is estimated that the annual synergies from the transaction are 300 million USD and will be achieved in the next 3 years
Products which are heavier do not use paper as a material for packaging. As such, paper products are majorly focused for tertiary packaging than for primary and secondary packaging The usage density in United States is more than 50 times indicating that there is more penetration ability. Countries like Brazil, Russia, China have excess supply and are exporting their paper products to other nations.
Key Topics Covered:
1. Research Methodology
2. Market Overview
Industry Value Chain Analysis
Industry Attractiveness - Porter's 5 Force Analysis