Paperboard Packaging Market Size (2024 - 2029)

Paperboard Packaging Market Analysis

The Paperboard Packaging Market size is estimated at USD 373.42 million in 2024, and is expected to reach USD 466.24 million by 2029, growing at a CAGR of 4.54% during the forecast period (2024-2029).

• Paperboard packaging is the preferred option in the packaged food market. It can be found in various foods, including soups, seasonings, and dairy products. Paperboard is usually covered with polymers or plastics to keep it clean and unspoiled. Compared to glass and metal, it helps reduce the final product's total weight while maintaining the freshness of the food product. Paperboard is the perfect packing material because of its odor and taste neutrality.
• It is becoming increasingly clear that consumers value recyclability and biodegradability over reusability regarding packaging. This indicates a growing concern among consumers about the future environmental impact of packaging waste. More than 60% of communities in the United States collect and recycle paperboard packaging. Companies are also taking steps to introduce recyclable paperboard products. For instance, Cascades has launched a cardboard tray made from recyclable fibers, while SIG has developed cartons made from recycled polymers that use post-consumer waste.
• Furthermore, according to the FAO’s (Food and Agriculture Organization of United Nations) report published in November 2023, China’s domestic production line in the paper and paperboard sectors is poised to impact global trade dynamics significantly. With a focus on bolstering its manufacturing capabilities, especially in pulp sourcing, China’s strategic initiatives pose challenges to international supply chains. Consequently, the paperboard market is anticipated to witness growth, driven by increased demand fueled by China’s burgeoning production capabilities and potential exports.
• However, in the first half of 2023, according to the UNECE report, reduced demand and declining prices led to decreased paper and paperboard production in Europe, prompting the closure of several machines. The outlook for producing paper and paperboard in 2023 indicates a 2.7% decline to 90.1 million tonnes. This downtime is likely to impact the paperboard market by tightening supply and potentially affecting pricing dynamics.
• Several aspects, including the increasing demand for sustainable and eco-friendly packaging materials, the rise in e-commerce and online shopping, and the growth of the food and beverage industry, drive the development of the paperboard packaging industry. Additionally, technological advancements and manufacturing processes have enabled the industry to produce high-quality and customized packaging solutions that serve the specific needs of different industries and customers.

Paperboard Packaging Industry Segmentation

The global paperboard packaging market study tracks the demand for major paperboard packaging products, such as corrugated boards, folding cartons, and other paper packaging products. The pricing for the raw material, that is, paper and paperboard for the paper products, is considered along with the consumption, import, and export trends and average prices to arrive at the market revenue.

Paperboard Packaging Solutions Market is Segmented by Grade (Carton Board, Containerboard and Other Grades), by Product Type (Folding Cartons, Corrugated Boxes and Other types), by End-User Industry (Food, Beverage, Healthcare, Personal Care, Household Care, Electrical Products and Other End-User Industries), and by Geography (North America (United States, Canada), Europe (Germany, United Kingdom, France, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), Latin America (Brazil, Argentina, Mexico, Rest of Latin America) and Middle East and Africa (United Arab Emirates, Saudi Arabia, South Africa, Rest of Middle East and Africa)). The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.