Paper packaging is a versatile and cost-efficient method to protect, preserve, and transport a wide range of products. In addition, it can be customized to meet the customers' needs or product-specific needs. The attributes, like lightweight, biodegradability, and recyclability, are the advantages of paper packaging that make it an essential component for packaging.

- The increasing consumer consciousness regarding sustainable packaging, as well as the strict regulations imposed by various environmental protection agencies (regarding the use of environment-friendly packaging products) are the factors driving the market for paper packaging. The rapid growth of online shopping and delivery-on-demand services has fueled the usage of cardboard and paper-based bags.

Environment-friendly packaging solutions have become a norm rather than an exception for the packaging companies worldwide. The profound change in corporate standards, governmental policies, trade regulations, and consumer tastes have led to a paradigm shift toward eco-friendly solutions in the packaging market. France has banned the use of plastic bags since July 2016. According to the French Government, about 5 billion plastic bags are distributed at and 12 billion are used to pack fruit and vegetables.

- The major challenges faced by the paper packaging market is the inability of paper in the packaging of very heavy materials, resulting in the industry being overpowered by the polymers and metal packaging industries. Furthermore, deforestation to acquire raw material and the release of dioxins during paper production cause environmental concerns. These factors, in turn, are hindering the growth of the paper packaging market.

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Key Market Trends

Food and Beverage Expected to Hold Significant Market Share

- Paper packaging is the main asset of the food industry. It is environment-friendly and increases the convenience for consumers. Due to this, there is significant competition in the food and beverage market among the players who provide quality products to the consumers. Various packaging materials in the market are available to fulfill the diverse packaging needs, like corrugated boxes and cardboard boxes.

- There is fierce competition among the quality-product providers in the food market. Due to these reasons, various manufacturers in the food market are continuously making and delivering high-quality products. There is an increase in the number of hypermarkets and supermarkets. This factor is expected to be one of the key factors driving the demand for paper and paperboard containers. This, in turn, is expected to drive the growth of the packaging market in the future.

- Many retail stores use packaging materials to preserve food and to retain the nutritional value of foods. Due to the increase in the number of consumers purchasing grocery items (like includes frozen and chilled foods), the market is expected to witness growth in the future.

- The regional food and beverage sector in the Middle East region is acting as a significant driver for the adoption of paper packaging. According to Alpen Capital, local food consumption is expected to reach 51.9 million metric ton in 2019.

Asia-Pacific Expected To Have Significant Growth

- Asia-Pacific is expected to have significant growth. The increasing number of manufacturing plants all over the region, combined with the growing consumerism and transit packaging sector in the Asia Pacific, is contributing to the growth of the paper packaging market.

- Due to the increasing demand for paper pulp in developing countries such as China and India, the region is expected to be the fastest growing region. There is an increase in the transit packaging sector in China, combined with growing consumerism, which is leading to a rapidly growing demand for paper packaging.

- Paper packaging demand has been growing at a rate of 6.5% since 2008, far higher than anywhere else in the world. Along with this demand for paper packaging, the demand for recycled paper is also increasing.

- There is an escalating rate of exports in the developing logistics sector as the corrugated boxes are expected to dominate the market in this region. Due to strong growth in sectors, like fast-moving consumer goods (FMCG) and cosmetics, the fast-growing middle-class population is expected to encourage the demand for paper packaging in the region.

Competitive Landscape

The paper packaging market is fragmented. It is a highly competitive market with a number of players in the market. There is no dominant player present in the market.

For instance, in 2017, WestRock acquired all the assets of Plymouth Packaging Inc. The acquisition of Plymouth Packaging enhanced WestRock’s innovation platform and differentiation strategy. The addition of the ‘Box on Demand’ system enhanced WestRock’s automated packaging systems business and differentiation in e-commerce and other custom applications, where on-site box making is needed. The acquisition is also intended to improve the company’s margin profile and growth prospects in the corrugated packaging business.

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