Paperboard Packaging Market to Cross $240 Billion by 2024
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The industry growth report Paperboard Packaging Market Forecast, 2017-2024 by raw material (fresh sources, recycled waste paper), by product (boxboard [folding boxboard, solid unbleached board, solid bleached board, white lined chipboard], containerboard), by application (food and beverages, non-durable goods, durable goods, medical), industry analysis report, regional outlook (U.S., Canada, Germany, U.K., France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC), growth potential, price trends, competitive market share and forecast (2017 – 2024), by Global Market Insights Inc., Ocean View, Del., USA, estimates that the paperboard packaging market will reach more than $240 billion by 2024.
U.S. Paperboard Packaging Market Size, by Product, 2013 – 2024 (USD Million).
Corporate lifestyles of people and odd working hours result in home delivering and on-the-go eating habits. These factors are boosting the packaged food industry in the emerging countries. The rising number of working women in these countries is also a key factor driving the packaged food industry in these regions. China is one of the leading packaged food manufacturers with huge bakery, processed food, sauces, dressings, and baby food production. In 2016, the China packaged food market was valued at more than $275 billion and is poised to grow at a significant rate in the forecast period. Increasing consumption of such packaged food and beverages by consumers in the emerging countries due to rapidly changing lifestyles will positively influence the paperboard packaging industry in coming years.
Plastic, metal, and glass packaging are a few factors that may affect the paperboard packaging market in coming years. Plastic is a widely used substitute product used for packaging purposes. The abundant availability of paper and paperboard material for packaging purposes and safety regulations pertaining to plastic usage, however, results in a traditional use of paperboard packaging all over the world.
Few of the shortcomings faced by the paperboard packaging market include the higher costs than plastics and the durability. The products are not inherently water resistant and need extra protection layers of plastic to prevent moisture damage. These factors shall act as restraints for the global paperboard packaging market.
Browse key industry insights spread across 190 pages with 302 market data tables and 12 figures and charts from the report Paperboard Packaging Market Forecast, 2017 - 2024 in detail, along with the table of contents.
The paperboard packaging market is classified based on raw materials such as recycled wastepaper and fresh (virgin) sources. Used and collected wastepaper is recycled and added with fresh fiber for strengthening properties, as recycled paper has the tendency to lose strength when reused. Impurities in recycled paper, and inferior quality are the main reasons they are not used in the packaging of food and beverages, due to the food safety standards and norms. Fresh sources majorly include wood pulp as raw materials, which accounts for almost 90%, while other raw materials include sugarcane bagasse, straw, hemp, cotton, etc.
