Key Trends Reshaping the Paper Packaging Market | Forecast Report 2032
According to Fortune Business Insights the global paper packaging market was valued at USD 376.53 billion in 2024 and is projected to grow to USD 506.59 billion by 2032. It is expected to rise from USD 392.28 billion in 2025, registering a compound annual growth rate (CAGR) of 3.72% during the forecast period. Paper packaging means packaging which utilizes paper and boards. The market expansion can be ascribed to the recyclable nature of paper and paperboard. Tons of waste generated from packaging can be saved by recycling paper packaging, thus saving substantial landfill space.Fortune Business Insights™ provides this information in its research report, titled “Paper Packaging Market, 2025-2032”.
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Segmentation:
Presence of Corrugated Board in Different Coatings to Impel Segment Growth
Based on material, the market is classified into kraft paper, corrugated board, molded pump, specialty paper, and others. The corrugated board segment registers the largest share in the market. The corrugated board is available in different coatings, flame-resistant features, weights, and types. This factor is spurring the corrugated board segment growth.
Lightweight Attribute of Packaging Solutions to Boost the Corrugated Boxes Segment Expansion
In terms of packaging type, the market is segregated into folding cartons, wraps, corrugated boxes, bags & sacks, cups & trays, and others. The corrugated boxes segment accounts for the largest paper packaging market share. The sustainability of packaging solutions and their lightweight nature aid in minimizing the shipping cost. This factor is fueling the corrugated boxes segment growth.
Technological Advancements in Food & Beverage Packaging to Proliferate the Segment Growth
With respect to end-use industry, the market is classified into home care, e-commerce, automotive & industrial, food & beverage, healthcare, electrical & electronic, personal care & cosmetic, and others. The food & beverage segment accounts for the largest share. The technological development in food & beverage packaging, such as coated paper and wraps, which aid in the prevention of leakage, is fueling the segment expansion.
List of Key Players Mentioned in the Report:
- DS Smith PLC (U.K.)
- Georgia-Pacific Corporation (U.S.)
- WestRock Company (U.S.)
- Mondi Group Plc (U.K.)
- Hood Packaging Corporation (U.S.)
- Smurfit Kappa (Ireland)
- Napco National (Saudi Arabia)
- Billerud (Sweden)
- Stora Enso Oyj (Finland)
- Rengo Co. Ltd. (Japan)
Report Coverage:
The significant driving and restraining factors affecting the market growth have been mentioned in the report. It further offers detailed insights into the strategic initiatives undertaken by key companies to gain a competitive advantage. Other aspects of the report include the latest trends, key industry developments, and the COVID-19 pandemic impact.
Drivers and Restraints:
Surging Product Utilization in the Pharmaceutical Industry to Spur Market Growth
A rise in the utilization of the product in the pharmaceutical industry drives the paper packaging market growth. Packaging manufacturers have a major emphasis on the deployment of recycled material and more sustainable packaging solutions.
Despite such growth opportunities, the stringent environmental regulations related to deforestation owing to the extraction of raw materials for paper production may hinder market growth.
Competitive Landscape:
Leading Companies Deploy Product Development Strategies to Reduce Environmental Impact
Some of the prominent companies in the market are Georgia-Pacific Corporation, DS Smith PLC, WestRock Company, Hood Packaging Corporation, Mondi Group Plc, and others. These players are implementing different strategies to stand out from the competition. Some of these strategies include joint ventures, capacity expansions, partnerships, and others. Most companies are also prioritizing the development of innovative products to lessen the environmental impact.
Key Industry Development:
March 2023 – Electrolux Group announced the release of recycled and paper-based packaging with 70% less ink to minimize the impact on the environment.
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