New StrategyR Study Highlights $ 323 Billion Global Market for Paper Packaging Materials by 2026
SAN FRANCISCO, November 16, 2021 / PRNewswire / – A new market study released by Global Industry Analysts Inc., (GIA), the leading market research firm, today released its report titled “Paper packaging materials – Global market trajectory and analysis”. The report presents new perspectives on the opportunities and challenges in a dramatically transformed post-COVID-19 market.
FACTS AT A GLANCE
Editing: 16; Posted: November 2021
Executive pool: 4102
Companies: 95 – Players covered include DS Smith PLC; Georgia Pacific LLC; Holmen AB; Oji holding company; WestRock Company and others.
Blanket: All major geographies and key segments
Segments: Product (paper bags and sacks, corrugated cardboard containers and packaging, folding boxes and crates, other products); Application (Food and Beverage, Health, Industry, Other Applications)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; UK; Spain; Russia; and rest of Europe); Asia Pacific (Australia; India; South Korea; and rest of Asia Pacific); Latin America (Argentina; Brazil; Mexico; and rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and rest of Middle East); and Africa.
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ABSTRACT-
Global Paper Packaging Materials Market To Reach 323 billion US dollars by 2026
Paper packaging is a versatile and economical method of protecting, storing and transporting a wide category of products. The packaging material is lightweight, durable, and can be customized to meet specific product and customer needs. The growth of the global market is driven by the huge increase in demand for paper packaging materials in the pharmaceutical, cosmetic, food and beverage industry. The increase in paper production will help in the growth of the paper packaging industry market. In addition, the growing awareness of potential customers of environmental concerns, the increasing adoption of paper materials as sustainable packaging solutions, and strict government regulations for environmental protection are also driving the market growth. Technological intervention in paper recycling and increased impetus given to R&D initiatives by government and producers are expected to provide opportunities for market growth. Paper packaging products are also used to give aesthetic appearance to packaging and further contribute to market growth. Corrugated bags for shipping bulk items are also in high demand and are expected to drive demand in the near future. In addition, the government ban on the use of plastics is also expected to create new opportunities for the paper-based packaging materials market.
In the midst of the COVID-19 crisis, the global paper packaging materials market is estimated to be 230.4 billion US dollars in 2020, is expected to reach a revised size of 323 billion US dollars by 2026, with a CAGR of 5.9% over the analysis period. Paper bags and sacks, one of the segments analyzed in the report, is expected to grow at a CAGR of 5.9% to reach 109.1 billion US dollars at the end of the analysis period. After an initial analysis of the business implications of the pandemic and its induced economic crisis, the growth of the Corrugated Containers and Packaging segment is readjusted to a revised CAGR of 5.4% for the next 7-year period. This segment currently accounts for a 26.3% share of the global paper packaging materials market. Paper bags are usually made from recycled pulp or Kraft paper, or both. Brand owners use soft bags and paper bags as a source of promotion and marketing.
The US market is estimated at $ 63.6 billion in 2021, when China is expected to reach $ 64.6 billion by 2026
The market for paper packaging materials in the United States is estimated at US $ 63.6 billion in 2021. The country currently represents a 26.57% share of the global market. China, the world’s second-largest economy, is expected to reach an estimated market size of 64.6 billion US dollars during the year 2026, with a CAGR of 7% during the analysis period. Other notable geographic markets include Japan and Canada, each forecasts growth of 4.7% and 5.2% respectively over the period of analysis. In Europe, Germany is expected to grow by around 5.4% CAGR while the rest of the European market (as defined in the study) will reach US $ 69.6 billion at the end of the analysis period. In North America, growing demand for electronics and a growing food and beverage industry provide significant opportunities for corrugated and cardboard boxes. In Asia Pacific region, increased consumption of ready-to-eat foods and the growing influence of Westernization are driving demand in the market.
Folding boxes and cases segment to reach $ 82.7 billion by 2026
In the global folding boxes and cases segment, United States, Canada, Japan, China and Europe will lead to the estimated 6.8% CAGR for this segment. These regional markets representing a combined market size of US $ 39.9 billion in 2020 will reach a projected size of 64.3 billion US dollars at the end of the analysis period. China will remain among the most dynamic of this group of regional markets. Led by countries such as Australia, India, and South Korea, the market of Asia Pacific should reach US $ 12.5 billion by 2026, while Latin America will increase at a CAGR of 7.3% throughout the analysis period. Following
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Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher, the only influencer-focused market research company in the world. Proudly serving more than 42,000 clients in 36 countries, GIA has been recognized for its accurate forecasting of markets and industries for more than 33 years.
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SOURCE Global Industry Analysts, Inc.
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