Sellbyville, DE -- (SBWIRE) -- 05/24/2019 -- Global Market Insights recently introduced new report on global Paperboard Packaging market with an in-depth study providing complete analysis of the industry size, share and statistics for the period 2019 to 2024. It also provides complete overview of Paperboard Packaging industry considering all the major industry trends, market dynamics and competitive scenario.

Asia Pacific paperboard packaging market held a substantial share in the market and is likely to cross USD 170 billion over the forecast timeframe. This region will experience high gains owing to growing income level and demand from food & beverage industry. North America is the second ranking region, which accounted for a substantial share of the industry in 2016. Europe will grow at a slower pace due to unfavorable regulations on paper recycling.

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Growing packaging market in emerging economies is likely to boost paperboard packaging industry in forecast period. It is extensively used in food, medicine, clothing, footwear, and cosmetics wrapping applications owing to its lightweight and recyclable properties. Long working hours in growing corporate lifestyle is resulting in increasing doorstep food deliveries and packaged food eating habits which will drive paperboard packaging market demand in forecast period. Moreover, this product is witnessing a significant demand in many countries owing to increasing health and environmental concern from the harmful effects of plastic packing.

Though plastic based packaging is predicted to become a threat to the product growth, owing to its low cost and durable properties. The demand for plastic covering is increasing because the paperboard packaging properties are not efficient to provide water resisting shield to the packaged products. This factor will decelerate growth of the paperboard packaging market.

Currently, food packing standard and law are prohibiting the application of recycled paper for food industry, to maintain food safety standards and grades. The food packing segment occupies a major share and government prohibition on the recycled paper usage may restrain the paperboard packaging market over the coming years.

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The product segment includes boxboard and containerboard. Boxboard category is further divided as solid unbleached board, folding boxboard, white lined chipboard, and solid bleached board. Folding boxboard segment have several applications such as in confectionaries, cigarettes, beauty products, pharmaceuticals, and frozen foods. Its market is likely to grow at CAGR of 8.5% in forecast timeframe.

The applications for this product are segmented into four key segments including food & beverage (F&B), medical, durable goods, nondurable goods and others. Increasing demand from online based retail industry, and food takeaways are predicted to propel the product growth in future. F&B is a major end-user which held a more than one-third share of the global paperboard packaging market. Food and beverage is fastest growing application and is likely to witness growth at a CAGR of 8% in forecast period.

The Paperboard Packaging market report offers detailed competitive landscape of the global market. It includes companies, industry statistics, market share analysis and product portfolio of the major industry participants. The report provides detailed segmentation of the Paperboard Packaging market based on product, technology, end user and region.

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The prominent companies of paperboard packaging market are SCA paper company, Outlook, Smurfit Kappa, Badger Paperboard, Shandong Bohui Paper, STORA ENSO, WestRock, Oji Holding, International Paper, ITC, Southern Champion Tray, Mondi, Nippon, Metsa and others.

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