Demand for Packing Paper is Surges on the Back of Environmental Concerns; Packing Paper Market to grow at a CAGR of 4.8% through 2032

The packing paper market is expected to escalate at a CAGR of 4.8% from USD 45.3 billion in 2022 to USD 72.4 billion through 2032.

Businesses and manufacturing industries around the world have been adversely affected by the rapidly spreading Coronavirus. As a result of extended lockdowns and disrupted supply chains, the packing paper market has been significantly affected.

During the COVID-19 outbreak, there has been a decrease in packaging paper production, which presents a challenge to manufacturers. There are several opportunities for market players to deal with these challenges in the packaging paper market. While the ongoing pandemic is affecting the economy, market players are effortlessly setting up their businesses to keep things running.

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A growing retail and e-commerce industry, as well as a growth in demand for environmentally friendly packaging products, represent the key drivers of the market at present. Significant growth in the number of online shopping platforms has driven an increase in the demand for secondary and tertiary packaging products. Furthermore, changing consumer attitudes regarding sustainable packaging and the implementation of favourable government policies are stimulating the packing paper market growth.

Another significant growth factor will come from the rapidly expanding food and beverage industry around the world. The food industry is moving towards adopting food-grade paper packaging products to hold on to the nutrients and preserve the quality of the foods.

The paper packaging market is also expected to grow in the coming years due to innovations to enhance the efficiency of the product as well as to produce visually appealing versions of the product.

The growth of the packing paper market has been hampered by fierce competition from flexible plastic packaging.

Increasingly, modern shoppers are considering convenience and portability as top priorities, so packaging design has shifted toward flexible, easy-to-handle packaging. The gusseted flexible pouch is now the packaging of choice for snacks that were once packaged in jars and tins. In addition to food producers and nutraceutical packagers, flexible pouches are also well-suited to gels and liquids.

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KEY TAKEAWAYS:

· The CAGR for the cosmetic segment of the end-user category in Packing Paper Market is anticipated to be 4.4% through 2032.

· In the United States, the Packing Paper Market is estimated to reach US$ billion by 2032, rising at a CAGR of % throughout the forecast period.

· By 2032, the Packing Paper Market in the United Kingdom is expected to be valued US$ million, with a CAGR of % through 2032.

· With a CAGR of % throughout the forecast period, China is expected to reach a market size of US$ million in Packing Paper Market by 2032.

· By 2032, the Packing Paper Market in Japan is estimated to be worth US$ million, growing at an annual rate of % through 2032.

· With a CAGR of % throughout the forecast period, South Korea is predicted to reach a market size of US$ million in Packing Paper Market by 2032.

COMPETITIVE LANDSCAPE:

India and China have the fastest-growing economies. Developmentally, developing countries still use a great deal of plastic packaging compared to the developed nations of the west. Since plastic is cost-effective and convenient for consumers, it is the perfect material for packaging.

Georgia Pacific announced recently that it is leaving its paper business and will shut down all its paper machines permanently. Another company has already closed its wood yard and pulp mill in Port Hudson, LA. This was due to concerns around the environment, which includes depleting forests.

A number of notable players are operating in the global cardiac reconstruction devices market, including The Packaging Company, Packhelp, Ruskin Group, Purple Co, Moraya Packaging, Pratt Industries, Inc., Mondi Group plc, WestRock Company, Oji Holdings Corporation, DS Smith Packaging Limited, Tat Seng Packaging Group.

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Key segments

By Material Type:

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

By End-use Industry:

• Food & Beverage
• Healthcare
• Personal Care & Cosmetics
• Homecare & Toiletries
• E-Commerce
• Chemicals & Fertilizers
• Others

By Packing Type:

• Corrugated Boxes
• Cartons
• Wrapping Paper
• Cups & Tray
• Others

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East & Africa

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