May 18, 2024
Paper and Packaging Market

The Global Paper And Packaging Market Is Estimated To Driven By Growing E-Commerce Demand

The paper and packaging market includes products such as boxes, bags, wrapping paper, and more, which are widely used for packaging various goods and products across industries for storage and transportation purposes. Paper-based packaging offers desirable properties such as durability, recyclability, printability, affordability, and sustainability. It also acts as a protective medium for products during transport. Growing e-commerce demand and rise of online shopping are driving the need for effective packaging solutions, fueling the demand for paper and packaging.

The Global Paper and Packaging Market is estimated to be valued at US$ 454.5 Mn in 2024 and is expected to exhibit a CAGR of 6.1% over the forecast period 2024 to 2030.

Key Takeaways

Key players: Key players operating in the paper and packaging market are Dell Technologies Inc., HP Inc., Lenovo Group Limited, and Toshiba Corporation. They are focusing on capacity expansion, new product launches, and mergers and acquisitions to strengthen their market position.

Growing demand: Rising demand from industries such as food and beverage, pharmaceuticals, consumer durables and electronics is propelling the growth of the paper and packaging market. Growing need for longer shelf-life and safe transportation of products is augmenting the demand.

Global expansion: Key market players are investing heavily in research and development to introduce innovative and sustainable packaging solutions. They are also expanding their global footprint through partnerships and acquisitions to cater to the growing demand from international markets.

Market key trends

One of the key trends gaining traction in the paper and packaging market is sustainable packaging. Both manufacturers and consumers are advocating the use of eco-friendly paper-based packaging materials to reduce environmental footprint. Paper when compared to plastic is cheaper and completely biodegradable and recyclable. Many companies have started using recycled paper for their packaging needs to promote sustainability. This trend is expected to continue driving the growth of the market during the forecast period.

Porter’s Analysis

Threat of new entrants: High capital requirements and economies of scale used by existing companies create barriers for new players.

Bargaining power of buyers: Buyers have moderate bargaining power due to the presence of several established suppliers offering price and product differentiation.

Bargaining power of suppliers: Suppliers have moderate to low bargaining power as the raw materials for paper and packaging manufacturing are largely commoditized and available from numerous sources globally.

Threat of new substitutes: New substitutes pose low threat as no alternatives can provide the specific features required for different types of packaging.

Competitive rivalry: Intense competition among existing competitors leads to incremental product innovation and price wars.

Geographical Regions

North America holds the largest share in the Paper And Packaging MarketĀ  Demand currently with the United States being the major revenue generating country. Wide applications across food and beverages and personal care industries drive high paper consumption.

The Asia Pacific region is witnessing the fastest growth in the paper and packaging market over the forecast period. Rapidly growing e-commerce sector and changing lifestyles are increasing packaging needs in densely populated countries such as India and China. End-use industries are also shifting base to the region due to availability of resources and cheap labor.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it