Growing Efforts to Reduce the Environmental Footprint in Different Industries to Push Sales of Paper Packaging: Market Anticipated to Expand at 4.1% CAGR | Future Market Insights, Inc.

NEWARK, DE / ACCESSWIRE / March 20, 2023 / The global paper packaging market is predicted to register a robust CAGR of 4.1% over the forecast period, as per FMI's analysis. The industry's size is anticipated to increase from US$ 3,83,867.8 million in 2023 to US$ 5,73,705.45 million by 2033 end.

The rising prevalence of hypermarkets and supermarkets is projected to drive the sales of paper and paperboard containers. As a result, they are propelling the growth of the packaging industry in the forecast period. Several retail stores utilize packaging materials to safeguard food and conserve its nutritional value. The rise in the consumption of grocery items (like chilled and frozen foods) is predicted to augment the demand for paper packaging solutions over the upcoming years.

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The budding e-commerce as well as retail industries, in addition to the rising interest in environment-friendly packaging products, due to ecological concerns among citizens, are estimated to push the market forward. Additionally, the robust rise in online shopping platforms is pushing the requirement for tertiary and secondary paper packaging products, thus spurring market growth further.

Top Highlights from the FMI's Analysis of the Paper Packaging Market

• Europe region is projected to make its headway in the paper packaging industry over the forecast period. The region is projected to generate a revenue of US$ 1,00,596 million by 2023, at a CAGR of 3.9% over the forecast period.
• North America region is projected to attain a market value of US$ 94,062.8 million by 2023. Over the forecast period, the region is anticipated to expand at a CAGR of 3%. The high penetration of key players in the region is pushing regional growth by introducing new and innovative products for dynamic consumer requirements.
• East Asia region is expected to witness robust expansion in the years to come. The region is set to attain US$ 93,793.3 million by 2023, registering a CAGR of 4.2% from 2023 to 2033.
• The corrugated boxes are expected to be valued at US$ 1,11,983.3 million by 2023. The segment is projected to exhibit a CAGR of 3.7% over the forecast period.
• The secondary packaging segment, based on the level of packaging, is expected to attain US$ 1,96,117.6 million by 2023. Over the forecast period, the segment is expected to expand at 4.2%.
• The food packaging industry is set to record significant sales of US$ 1,92,757.9 million by 2023. Over the upcoming years, the segment is projected to exhibit a 4% CAGR.

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New Developments as Observed by FMI

• In August 2022, Nestlé Hong Kong officially disclosed Kit Kat stick ice cream packaging is shifting from plastic to paper. This development is first in line for the Innovation Zone. The packaging is formulated of 100% pure pulp, which is certified by the Forest Stewardship Council (FSC).
• In January 2022, Amcor unveiled a platform for new paper-based packaging. AmFiberTM is an exclusive platform for paper-based packaging material introduced by a leading packaging solutions maker. AmFiber inventions intend to revolutionize the capabilities of conventional paper packaging by offering an extensive range of features and functional advantages to satisfy consumers' evolving needs.

Key Players:

• Smurfit Kappa Group Plc
• Napco National Paper Products Company
• Billerud
• WestRock Company
• Georgia Pacific LLC
• Pratt Industries, Inc.
• DS Smith Packaging Limited
• Stora Enso Oyj

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Key Segments Covered in Paper Packaging Industry Research

By Material Type:

• Corrugated Board
• Specialty Paper
• Box-board/Carton Board
• Kraft Papers
• Molded Pulp

By Packaging Type:

• Corrugated Boxes
• Cartons
• Wrapping Paper
• Inserts & Dividers
• Bottle & Cup Carriers
• Cups & Trays
• Clamshell
• Display Packaging
• Bags & Sacks
• Tapes & Labels

By Level of Packaging:

• Primary Packaging
• Secondary Packaging
• Tertiary Packaging

By End Use:

• Food Packaging
• Beverage Packaging
• Tobacco Packaging
• Healthcare Packaging

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Table of Content

1. Executive Summary | Security Holograms Market

1. Executive Summary | Paper Packaging Market

1.1. Global Market Outlook

1.2. Demand-side Trends

1.3. Supply-side Trends

1.4. Technology Roadmap Analysis

1.5. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Market Background

3.1. Market Dynamics

3.1.1. Drivers

3.1.2. Restraints

3.1.3. Opportunity

3.1.4. Trends

Click Here for Paper Packaging Market 324 pages TOC Report

About the Packaging Division at Future Market Insights

The packaging division at Future Market Insights provides an in-depth historical analysis and projections for the next ten years and covers the competitive landscape through a unique dashboard view. Ranging from packaging materials, and packaging machinery to packaging designs & formats, Future Market Insights has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations.

With a repository of 1,000+ reports, the team has analysed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.

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