Paperboard Market
Report ID: SQSG15H2004
Paperboard Market Size, Share, Growth Analysis, By Grade(White lined chipboard, folding boxboard, others), By Product Type(Corrugated box, flexible paper, others), By Region - Industry Forecast 2024-2031
Report ID:
SQSG15H2004 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
63
|Figures:
75
Paperboard Market Insights
Paperboard Market size was valued at USD 142.08 billion in 2019 and is poised to grow from USD 146.12 billion in 2023 to USD 183.68 billion by 2031, growing at a CAGR of 2.9% in the forecast period (2024-2031).
Paperboard is a thick paper-based material widely used in packaging. It is made with wood pulp as the primary component. A significant portion of paperboard is recycled to prevent deforestation and waste. Food and beverage packaging, medical packaging, durable and non-durable goods packaging, industrial packaging, and cosmetics packaging are the most common applications for these.
Plastic-based packaging products are subject to stringent regulations all over the world due to their non-biodegradability. Single-use plastic is increasingly being banned in many countries, and paper-based packaging is increasingly being used in its place due to its sustainability. Furthermore, rising consumer sustainability awareness and end-use industry demand for eco-friendly packaging are expected to drive the global paperboard market.
Paperboard products are widely used to package food and beverages due to their low cost, lightweight, excellent printability, sustainability, and non-reactive properties. The global packaged food industry has grown significantly in recent years as a result of rising disposable income and retail network expansion. Thus, growing packaged food industry is expected to boost demand for paperboard over the forecast period.
US Paperboard Market is poised to grow at a sustainable CAGR for the next forecast year.
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Paperboard Market Segmental Analysis
Global paperboard market is segmented based on grade, product type, application, and region. Based on grade, the global paperboard market is segmented into white lined chipboard, folding boxboard, solid bleached sulfate, coated unbleached kraft paperboard, label paper and others. Based on product type, it is categorized into corrugated box, boxboard, flexible paper. Based on application, it is further categorized into food & beverage, personal care, healthcare, home care and others. Based on region, it is divided as North America, Asia Pacific, Europe, Latin America, and MEA.
Paperboard Market Analysis by Product Type
Based on product type, in 2021, the most common type of packaging was flexible paper packaging. Flexible paper bags are increasingly being used to replace single-use plastic bags. Furthermore, low cost and excellent printability are important factors contributing to the segment's largest share.
Paperboard Market Analysis by Application
Food and beverages have emerged as the market’s leading application sector, accounting for nearly half of the market share in 2021. Among the applications are frozen meals, alcoholic and non-alcoholic drinks, sweets, dairy products, fast foods, and fresh fruits and vegetables. The outstanding operating characteristics of paperboard are responsible for this segment's rapid growth. This packaging is food-safe, can operate at a wide range of temperatures, and aids in the preservation of organoleptic properties over time.
The most recent developments in the healthcare industry are driving new approaches to medical product packaging. Healthcare is a top priority for everyone on the planet. The appearance of pharmacy packaging is becoming increasingly important. It is no longer regarded as merely a functional entity, but as an asset to be exploited when selling over-the-counter. Supplements and vitamins have been around for a long time, and thanks to appealing packaging, their sales are steadily increasing as the average consumer becomes more interested in them.
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Paperboard Market Regional Insights
Global paperboard market is dominated by Asia Pacific and the region is expected to experience significant growth during the forecast period (2022–2028) and it is thoroughly studied that, in the year 2021, Asia Pacific generated significant revenue; and India and China are the prominent economies focussing on high competition along with the rapid growth in urbanization and increased preference of packaged foods and other consumer products.
North America, with its large corporate presence, remains one of the primary markets for paperboard packaging materials. North America consumed 74.21 million metric tons of paper and paperboard in 2018. This is the case, according to FAO and UNECE data. The United States dominates the folding carton packaging industry in North America, with food expected to be the leading end-user. According to the Association for Packaging and Processing Technologies, the food sector in the United States is expected to grow at a CAGR of 2.9% by 2022. Such trends in North America are expected to continue, which will benefit the paperboard market.
Europe is also expected to grow at a rapid pace in the coming years. The European Union intends to phase out single-use plastic by 2021. Furthermore, when compared to other countries, European consumers have a significantly higher level of sustainability awareness. These factors are primarily boosting market growth in Europe.
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Paperboard Market Dynamics
Paperboard Market Drivers
- Growing Consumer Awareness Regarding Sustainable Packaging Material
Consumers nowadays prefer environmentally friendly products. The packaging industry is no exception, and it has seen a similar trend. Nowadays, environmentally conscious consumers prefer paper or paperboard packaging over other types of packaging solutions.
The waste or recovered paper market is expected to expand, and consumers have shown an increased interest in purchasing recycled products. It is also expected that as developing countries industrialize, there will be an increase in demand for paper and paperboard packaging products. Because it is one of the most widely used recycled paper packaging products on the market, the containerboard packaging market is expected to grow the most.
Paper and paperboard containers are currently biodegradable and more sustainable than plastic, making them more appealing to consumers. Paper and paperboard containers are environmentally friendly because they are recyclable, reusable, save energy, and conserve natural resources. Thus, the environmental benefits of paper and paperboard containers will increase their adoption by businesses in various industries, such as retail, driving the global paperboard market.
Paperboard Market Restraints
- Manufacturers and retailers opt for flexible plastic packaging due to light weight, less shipping & warehousing cost, extra space can hamper market growth.
- Easy handling of plastic packaging products compared to the paper & paperboard packaging can hamper the paperboard market.
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Paperboard Market Competitive Landscape
Global paperboard market provides detailed competitive landscape. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the prominent market players are also focussing on concentrating on R&D. The following top players are manufacturing packaging products by the recycled pulp owing to enhance the packaging sustainability.
Top Players in the Global Paperboard Market
- Mondi Group
- Smurfit Kappa Group
- International Paper Company
- Georgia-Pacific LLC
- WestRock Company
- Packaging Corporation of America
- Svenska Cellulosa Aktiebolaget (SCA)
- Stora Enso Oyj
- Nine Dragons Paper (Holdings) Limited
- Nippon Paper Industries Co., Ltd.
- DS Smith Plc
- Oji Holdings Corporation
- UPM-Kymmene Corporation
- Lee & Man Paper Manufacturing Ltd.
- Rengo Co., Ltd.
- Shandong Chenming Paper Holdings Limited
- Grupo Gondi
- BillerudKorsnäs AB
- Metsä Board Corporation
- International Paper APPM Limited
Paperboard Market Recent Development
- In August 2021, Mondi Group released seven new sustainable corrugated packaging offerings due to the increasing number of consumption and online grocery delivery services across Central Europe. The grocery retailers can offer variety of goods for packaging solutions.
Paperboard Key Market Trends
- Various changes in lifestyle and an increasing number of populations in the developing countries lead to a higher demand for branded and packaged substances. According to the Flexible Packaging Association, the beverage sector in the United States accounted for nearly 50% of the global packaging market.
- Sustainable strengthening process, paper substitutes can attain the same strength, moisture resistance, and shelf life as plastic (e.g., water-based coatings). Plastic straws and cutlery are also ruled out of the pre-packaged food industry in favour of paper or other substitutions.
- In India, Japan and China consumption of food and other products propelling the market because of the higher demand of food & beverage that is responsible for the market growth during the aforementioned forecast period
Paperboard Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global paperboard market analysis, Asia Pacific is expected to capture higher market share. Growth of the region is attributed to greater demand for paperboard packaging in developing economies such as India, China and others owing to increased demand for e-commerce products. This is boosting the market growth especially due to the presence of youth online buyer.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 142.08 billion |
| Market size value in 2031 | USD 183.68 billion |
| Growth Rate | 2.9% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Paperboard Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Paperboard Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Paperboard Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Paperboard Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Paperboard Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Paperboard Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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