Sarasota, FL -- (SBWIRE) -- 01/11/2018 -- 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. The report covers forecast and analysis for the paper packaging material market on a global and regional level. The study provides historic data of 2015 along with a forecast from 2016 to 2021 based on both volume (Million Tons) and revenue (USD Billion). The study includes drivers and restraints for the paper packaging material market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the paper packaging material market on a global level.

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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.

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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Global Paper Packaging Material Market: Product Segment Analysis

Liquid packaging cartons
Corrugated cases
Carton & folding boxes
Others (Sacks, bags, etc.)

Global Paper Packaging Material Market: Application Segment Analysis

Beverages
Fast food
Fresh food
Dairy & bakery
Frozen foods
Others (Pet food, cosmetics, pharmaceuticals, etc.)

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.

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Key players operating in this market includes 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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