Both paper and paperboard are manufactured from wood pulp. There is no significant difference between the two, except that paperboard is thick in size compared to paper. Paperboard packaging is used to provide packaging solutions, mainly for consumer products. Paper and paperboard packaging solutions have a large spectrum of applications across industries from healthcare to food & beverages industry and personal care to home care.
Growth of the FMCG industry and rising stringency of environmental regulations governing the use of packaging materials are driving the global paper and paperboard packaging market
One of the primary benefit of paper and paperboards is that it is environment friendly and cost-effective. It is largely used to make containers such as boxes, cartons and trays for packaging and shipping purpose. With a looming pressure of overflowing landfills with non-biodegradable waste and environmental concerns related to them, there is a significant shift towards high usage of paper and paper products for packaging.
Increasing consumer awareness about the hazards of using non-biodegradable is a primary factor driving growth of the global paper and paperboard packaging market. Also, increasing consumer awareness for suitable packaging techniques and reusability of paper and paperboard packaging are some of the other factors driving growth of the global paper and paperboard packaging market. Exponential growth in the FMCG sector has also fuelled the growth for the market during the forecast period.
Considerable innovations in designs and technological advancements is the trend that is likely to gain momentum for global paper and paperboard packaging market. However, strong competition among the paper and paperboard packaging venders is a key factor restraining growth of the global paper and paperboard packaging market. Moreover, paperboards are not able to handle the mechanical stress of heavy materials therefore, it is not applicable for heavy material packaging.
The global paper and paperboard market is segmented on the basis of grade, application, product type, and region. The regions covered are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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Asia-Pacific is expected to be the major revenue contributor to the global paper & paperboard packaging market over the forecast period, owing to the increasing acceptance of convenience food, better health and personal care products.
Key players in the global paper and paperboard packaging market include Amcor Ltd., Cascades Inc., ITC Ltd., DS Smith Plc., Packaging Corporation of America, Clearwater Paper Corporation, Mondi Group, Metsa Group, RockTenn Company, Nippon Paper Industries Co. Ltd.