The global paper packaging materials market is expected to reach $391.17 billion by 2022, according to a new report by Grand View Research Inc., San Francisco, Calif., USA. According to the report, titled Paper Packaging Materials Market Analysis by Product, Application, and Segment Forecasts to 2022, rapid development of fast food and frozen food industries, particularly in emerging markets of Asia Pacific and Middle East & Africa, is expected to remain a key driving factor for global paper packaging materials market over the forecast period. Environmental concerns associated with plastics packaging for food & beverages are also expected to prompt demand for paper packaging materials over the next seven years. 

Governments across various regions have been implementing stringent regulations. Novel technologies related to paper recycling and extensive R&D to develop superior quality products are expected to create new avenues for market participants.

Liquid packaging cartons were the leading product segment and accounted for more than 40% of total market volume in 2014. Positive outlook on the global beverages industry is expected to drive this segment over the forecast period. Corrugated cases are projected to witness the highest growth rate over the forecast period, owing to novel retail packaging developments.

Further key findings from the report suggest: 

Global paper packaging materials market demand was 195.72 million tons in 2014 and is expected to reach at 273.31 million tons by 2022, growing at a CAGR of 4.3% from 2015 to 2022.

Beverages were the leading application segment, with demand share estimated at 42.3% in 2014. Growth of the organic beverages industry in developed economies of North America and Europe is expected to steer growth of this segment. Frozen foods are expected to witness the highest growth of 4.6% from 2015 to 2022. Rise in convenience food and fast food demand particularly in the emerging markets of China and India, on account of rising disposable income and rapid urbanization, are expected to assist the regional market in the near future.

Asia Pacific was the leading regional market with demand share exceeding 35% in 2014. Growth of the food and beverages industry coupled with government support in the form of tax holidays and financial incentives to develop the manufacturing sector, particularly in China, India, Thailand, Indonesia, and Vietnam, are expected to drive regional growth. Asia Pacific also is expected to witness the highest growth of 4.8% from 2015 to 2022.

The paper packaging materials market is highly fragmented and characterized by a large number of players. Key industry participants include Hood Packaging Corp., International Paper Co., OJI Holding Corp., Georgia-Pacific Corp., DS Smith Plc., Smurfit Kappa Group Plc., and MeadWestvaco (WestRock).