Global Paper Packaging Material Market to gain $362.65 billion by 2021
Sarasota, FL -- (SBWIRE) -- 08/11/2017 -- Zion Market Research has published a new report titled "Paper Packaging Material Market (Liquid Packaging Cartons, Corrugated Cases, Carton & Folding Boxes and Others) for Beverages, Fast Foods, Fresh Foods, Dairy & Bakery, Frozen Foods and Other Applications – Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021". According to the report, global paper packaging material market was valued at around USD 286.61 billion in 2015 and is expected to reach USD 362.65 billion in 2021, growing at a CAGR of around 4.4% between 2016 and 2021. In terms of volume, the global paper packaging material market stood at above 186.42 million tons in 2015.
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Wide varieties of materials used for packaging purpose. Paper is one of the most prominent materials used for packaging compared to other packaging materials. Paper packaging material has the high demand due to its cost-effectiveness and environment friendliness. Poster paper, craft paper, and glassine paper are the different types of papers used in packaging. The paper packaging material is an eco-friendly option as it does minimum damage to the environment. Paper, timber, pulp and other such forest and recycled products are basic raw materials used in paper packaging.
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Paper packaging material market is mainly driven by increasing demand for paper packaging due to rising awareness of ecological issues around the world. Paper packaging is used for packing the products like food & beverages, pharmaceutical, and cosmetics. It is an eco-friendly option and can be recycled and reused as against plastic. These advantages help to boost the demand of paper as a packaging material. The rapid development of fast food and frozen food chains in emerging economies along with a significant growth of packaging market is predicted to steer the market for paper packaging material. Lightweight, disposable, safe for the environment, cost effective, easy to carry, nontoxic and durable are some features of paper which augment their demand as a packaging material. Moreover, the ban on the usage of lightweight plastic bags affects the paper packaging material market positively. However, manufacturers are expected to face some challenges such as deforestation associated with the manufacturing of paper material.
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On the basis of product paper, packaging material market can be segmented as liquid packaging cartons, corrugated cases, carton & folding boxes and other products such as sacks, bags, etc. Liquid packaging cartons were the largest product segment in 2015 and accounted for over 40% share of the total market. Due to advancement in novel retail packaging, corrugated cases segment is expected to observe highest growth rate over the forecast period.
Key application markets for paper packaging material include beverages, fast food, fresh food, dairy & bakery, frozen foods and others applications like pet food, cosmetics, pharmaceuticals, etc. Beverage application of paper packaging materials led the global market with a share of over 42% in 2015. The growth of organic beverages industry in developed economies also helps to grow this market. Due to the rapid development of fast food and frozen food sector in emerging market, frozen foods application is projected to witness the highest growth rate in coming years.
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Paper packaging material market was dominated by Asia Pacific with 35% share in 2015 due to advancement in the paper packaging industry and government regulations. Asia Pacific was followed by North America and Europe. However, restraint like deforestation is projected to curtail the growth of this industry.
Key players operating in this market include 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 and The Mayr-Melnhof Group.
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