Global Paper Packaging Market to Expand 6% per Year by 2020
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Research and Markets, Dublin, Ireland, has added the Global Paper Packaging Market - By Products, Industry Verticals, Geography and Vendors - Market Size, Demand Forecasts, Industry Trends and Updates, Supplier Market Shares, 2014- 2020 to its offering. The global paper packaging market was $215 billion in 2014 and is estimated to reach $305 billion by 2020, growing at a CAGR of 6%.
Of the paper packaging market, paperboard is estimated to be the fastest growing market with a forecasted growth rate of 7.5% during the period 2014-2020. Moreover, it also leads the market, having a share of 35% making it the point of focus for the suppliers.
Paper packaging has the highest market share of the total packaging market. Added to this, the demand for paper packaging will continue to witness growth over the forecast period.
APAC leads the market with a share of 32% and is expected to be the fastest growing market as well. Developing economies such as India and China will drive the market for the paper packaging segment, with applications across industries such as healthcare, personal care, homecare, retail, and others.
