Categories: Market Research

Paperboard Packaging Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Paperboard Packaging Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Paperboard Packaging Global Market Report 2024, The paperboard packaging market size has grown strongly in recent years. It will grow from $204.13 billion in 2023 to $214.41 billion in 2024 at a compound annual growth rate (CAGR) of 5.0%. The growth in the historic period can be attributed to sustainable packaging demand, shift from plastic to paperboard, brand preference for eco-friendly packaging, regulatory changes, cost-efficiency of paperboard.

The paperboard packaging market size is expected to see strong growth in the next few years. It will grow to $275.43 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to rise in convenience packaging, product protection demands, health and safety concerns, customization and branding, cost-efficiency. Major trends in the forecast period include eco-friendly packaging demand, brand commitment to sustainability, innovations in design and printing, customization and versatility, demand from retail sector.

The rising consumption of packaged food is expected to propel the growth of the paperboard packaging market going forward. Packaged food is food that is covered to prevent direct contact with the environment, either by permeable or impermeable wrapping. Packaged food usually requires paperboard packaging as it does not harm the food product. Paperboard folding cartons are used to package frozen foods, dry meals, milk products, and a variety of other items. For instance, in September 2022, according to a report published by Zawya, a UAE-based media portal, the anticipated surge in demand for packaged food is projected to witness a 21% increase, reaching 44 million tons by 2026. The consumption of packaged food in specific regions is expected to experience notable growth, with Iraq’s consumption projected to increase by 28%, Saudi Arabia’s by 22%, and the UAE’s by 19%. Therefore, the rising consumption of packaged food is driving the growth of the paperboard packaging market.

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The paperboard packaging market covered in this report is segmented –

1) By Type: Corrugated Box, Boxboard, Flexible Paper

2) By Grade: Solid Bleached Sulfate (SBS), Coated unbleached kraft paperboard (CUK), White Lined Chipboard (WLC), Glassine & Greaseproof Paper, Label Paper, Other Grades

3) By Raw Material: Fresh source, Recycled waste paper

4) By End-User Industry: Food, Beverage, Healthcare, Personal Care, Household Care, Electrical Products, Other End-User Industries

Major companies operating in the paperboard packaging market are developing innovative products, such as sustainable paperboard packaging, to meet larger customer bases, increase sales, and increase revenue. Sustainable paperboard packaging refers to the use of environmentally friendly and socially responsible practices in the production, use, and disposal of paperboard materials for packaging. For instance, in February 2021, Graphic Packaging International, a US-based packaging manufacturer, launched ProducePack for fresh produce. The distinctive feature of ProducePack lies in its innovative carton design, which provides brands and retailers with an environmentally conscious solution across diverse applications. With an artisan appearance, it not only safeguards, preserves, and showcases fresh produce seamlessly from the field to the store but also presents an eco-friendly alternative. Available in various configurations and structures, ProducePack stands out with convenient carrying handles, appealing branding, and the ability to differentiate products in the typically uniform produce aisle. Notably, it introduces an additional layer of hygiene protection by prepackaging the produce, contributing to a reduction in excessive handling within the store.

The paperboard packaging market report table of contents includes: