Paperboard and Corrugated Packaging Recent Market Analysis Notes
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In a newly released (Nov. 2018) expanded preview of Transparency Market Research market report published April 2016, paperboards are manufactured from wood pulp or layers of paper. The thickness of paper piles defines the paperboard, which is usually larger compared to paper in order to maintain the weight to area ratio. For instance, according to the International Organization for Standardization, the weight should be 224g/m2 to consider it as paperboard. Depending on application, paperboard can be single ply or multi-ply. Paperboard offers good printing surface and excellent print quality, which makes it ideal information carriers and brand builders. Paperboard finds its application in cosmetics, clothing, footwear, and food industries. Paperboard is a strong, lightweight, smooth, versatile, and cost-effective packaging solution. Approximately 70% of paperboards are recycled, making these ideal for sustainable packaging compared to plastics, metals, and glasses.
The global paperboard packaging market can be segmented into product type such as boxboard and containerboard. Boxboard includes folding, kraft, and laminated boxboards. Depending on the grade and processing of the boxboard, it can be further sub-segmented into folding boxboard (FBB), solid unbleached boxboard (SUB), solid bleached boxboard (SBB), and white lined chipboard (WLC). Demand for WLC was the highest compared to other boxboards in 2015. Containerboard includes corrugated containerboard and linerboard. In terms of volume, containerboards was the majorly used type of paperboard across the globe in 2015. The market for containerboard is estimated to increase significantly during the forecast period owing to high demand from applications in regions such as Asia Pacific and Latin America. Based on application, the global paperboard packaging market can be segmented into food & beverages, non-durable goods, durable goods, medical, and others. The others segment includes industrial and machineries packaging.
Food & beverages accounted for the major share of the global paperboard packaging market in 2015 due to growth in the packaged food industry. Expansion in e-commerce and cosmetic & personal care packaging industries is anticipated to drive the global paperboard packaging market in the near future. Food & beverages segment is anticipated to be the fastest growing segment due to exemplary growth in the market drivers during the forecast period. Furthermore, growth in the medical industry that forms a major part of non-durable goods is estimated to boost the paper packaging market. Large brand end users are focusing on sustainable packaging. This rise in demand for sustainable packaging has boosted the market share of paperboard packaging, as paperboard is an ideal option for sustainable packaging vis-à-vis plastics and metal.
Asia Pacific was the largest market for paperboard packaging in 2015, led by growth in the packaged food and cosmetic & personal care packaging industries. Europe and North America are relatively matured markets as compared to other regions. Hence, growth of the paperboard packaging in these regions is expected to be sluggish in the next few years. Asia Pacific is anticipated to be the fastest-growing region, followed by Latin America. Expansion in the e-commerce and cosmetic & personal care industry in countries such as India, China, and Japan is likely to propel the demand for paperboard packaging in Asia Pacific during the forecast period.
Research and Markets Market Analysis Report Summary (published October 2018): According to this report, the Global Paper & Paperboard Packaging market accounted for $175.00 billion in 2017 and is expected to reach $266.88 billion by 2026 growing at a CAGR of 4.8% during the forecast period. Growing consumer awareness for sustainable packaging, rising demand from various end users and increasing environmental concerns are some of the factors favouring the market growth. However, strict government regulations are hindering the market growth. Moreover, growing disposable incomes of people especially in the developing countries is one of the major opportunities during the forecast period.
Paper and paperboard packaging is solid paper based substance used for packing and wrapping products. It is lightweight and can easily be cut, moulded and created. Paperboard packaging is used to offer packaging solutions, mostly to the end user products. Paper and paperboard packaging solutions have huge range of applications across several industrial end users from healthcare to food & beverage industry and personal care to home care.
On the basis of type, flexible paper packaging segment has significant growth in the market. Flexible packaging combines the best qualities of plastic, film and paper, aluminium foil to deliver a broad range of protective properties while employing a minimum of material. Asia Pacific is anticipated to dominate the global market during the forecast period due to increasing demand of convenience food, better health & personal care products.
Some of the key players profiled in the Paper and paperboard packaging market include WestRock, Packaging Corp. of America, Mondi Group, Metsa Group, ITC Limited, International Paper, DS Smith, Clearwater Paper, Cascades Inc., Svenska Cellulosa Aktiebolaget, Smurfit Kappa Group , Stora Enso, Sappi, Aktiebolaget, Sonoco, Berry Plastics Group, Inc., Huhtamäki, Amcor, and Coveris Holdings S.A.
Persistence Market Research Market Analysis Report Summary (to be published Feb. 2019): Food and beverages industry are the major end user of corrugated board packaging material followed by automotive and personal care industry. Industrial output and consumer product markets are the other major end-users of corrugated board packaging technique. Additionally, the packaging technique is also used for packaging of chilled, takeaway and ready-cooked foods.
North America is the largest market for corrugated board packaging followed by Europe. Asia-Pacific market is expected to witness better growth rate due to increasing growth in the end-user industries in countries such as China and India. In last few years there is a significant growth in consumption of corrugated box in India by processed food industry, fruits & vegetables suppliers, electronic industry and consumer durable goods industry.
Increase in retail sector along with demand for ready to eat food items is expected to increase the demand for better packaging material. This will provide ample growth opportunity for the global corrugated board packaging market. Additionally, increasing internet shopping is also expected to increase the overall demand for corrugated board packaging. Growing industrial activities, particularly in the manufacturing sector, requiring better packaging techniques to protect and transport goods is also expected to drive the global corrugated board packaging market. Additionally, increasing industrialization and expanding international trade in the developing countries, such as India, are expected to increase the market growth. Environmental concerns also acts as a driving force for the overall market.
