Paper and Paperboard Packaging Global Market Report 2024

The paper and paperboard packaging market size has grown strongly in recent years. It will grow from $397.73 billion in 2023 to $422.32 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to several key factors. Firstly, there has been a consistent demand for traditional packaging solutions, driven by the need for cost-effective and reliable packaging options. Secondly, regulatory compliance has played a crucial role, with businesses needing to adhere to strict regulations regarding packaging materials and practices. Thirdly, packaging has become an integral part of brand image and marketing, leading companies to invest in innovative and attractive packaging solutions to stand out in the market. Additionally, packaging plays a critical role in product protection and preservation, further driving its growth in the industry.

The paper and paperboard packaging market size is expected to see steady growth in the next few years. It will grow to $512.32 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%. The growth in the forecast period is driven by globalization and trade, continued emphasis on sustainability and circular economy initiatives, the rising middle-class population, and health and safety concerns. Major trends in the forecast period include evolving design and printing technologies, customization and personalization in packaging, the integration of smart packaging solutions, eco-friendly product branding, and the rise of packaging automation.

The paper and paperboard packaging market is expected to experience significant growth due to the increasing popularity of e-commerce. E-commerce, or electronic commerce, involves buying and selling goods and services over the Internet. Paper and paperboard packaging are favored in e-commerce for their cost-effectiveness, versatility, and lightweight yet durable properties, which help protect products, cater to customization and branding needs, and align with consumer preferences. For example, in November 2023, the United States Census Bureau reported a 7.6% increase in e-commerce sales in the third quarter of 2023 compared to the fourth quarter of 2022. Additionally, online stores accounted for approximately 15.4% of all sales in the second quarter of 2023. This trend indicates a growing reliance on e-commerce, which is driving the demand for paper and paperboard packaging.

Major companies in the paper and paperboard packaging market are embracing innovative recyclable solutions,such as Tambrite Aqua+, to address the rising demand for sustainable packaging. Recyclable food packaging involves materials that can be easily recycled post-use, reducing environmental impact. Typically sourced from renewable, sustainable materials such as plant-based sources, these materials are designed to be either curbside recyclable or compostable. For instance, Stora Enso, a Finland-based packaging materials provider, introduced the Tambrite Aqua+ folding box board solution in May 2023. This solution, suitable for frozen, chilled, and dry food packaging, aims to reduce reliance on fossil-based plastics. Tambrite Aqua+ employs a water-based dispersion coating that minimizes plastic usage, is fluorochemical-free, and offers resistance to grease and moisture. Utilizing dispersion coating technology, this solution integrates water-based coatings with paperboard surfaces to provide effective protection, ensuring product safety and integrity while being environmentally friendly.

In December 2022, WestRock, a provider of sustainable packaging solutions based in the United States, completed the acquisition of Grupo Gondi for $970 million. This strategic acquisition is aimed at strengthening WestRock's position in the expanding Latin American markets for containerboard, paperboard, and consumer and corrugated packaging. Additionally, the acquisition is expected to enhance WestRock's capabilities to serve customers across various geographies, driving additional productivity and cost savings. Grupo Gondi, based in Mexico, is a leading provider of paper and paperboard packaging solutions.

Major companies operating in the paper and paperboard packaging market report are WestRock Company, International Paper Company, Amcor Ltd., Tetra Pak, UPM-Kymmene Corporation, Smurfit Kappa Group Plc, Stora enso Oyj, Oji Holdings Corporation, Graphic Packaging International, DS Smith Plc, Packaging Corporation of America, India Tobacco Company Limited, Metsa Group, South Africa Pulp and Paper Industries Ltd, Valmet Oyj, Domtar Corporation, Cascades Inc., Nippon Paper Industries Co. Ltd, Infor Inc., Shandong Bohui Paper Company Ltd, Visy Industries Australia Pty Ltd, BillerudKorsnäs AB, Svenska Cellulosa Aktiebolaget SCA, Mondi Group, Weyerhaeuser, Sonoco Products Company.

Asia-Pacific was the largest region in the paper and paperboard packaging market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the paper and paperboard packaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the paper and paperboard packaging market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Paper and paperboard packaging are materials made from paper pulp and used to create various packaging solutions. They enclose, protect, and present products for storage, transportation, and sale.

The main products include folding cartons, corrugated boxes, and others. Folding cartons are flat paperboard containers folded, printed, and cut for various consumer goods. They come in grades such as solid bleached sulfate, coated unbleached Kraft paperboard, and folding boxboard. End users include food, beverage, healthcare, personal care, and electrical industries.

The paper and paperboard packaging market research report is one of a series of new reports that provides paper and paperboard packaging market statistics, including paper and paperboard packaging industry global market size, regional shares, competitors with a paper and paperboard packaging market share, detailed paper and paperboard packaging market segments, market trends and opportunities, and any further data you may need to thrive in the paper and paperboard packaging industry. This paper and paperboard packaging market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The paper and paperboard packaging market consists of sales of bags, sacks, wrapping and tissue paper, corrugated packaging, paperboard trays, and padded mailers. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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