Global Paper Packaging Materials Market : Snapshot
Recent advances made in the packaging industry has led to the demand for the eco-friendly and environmentally sustainable packaging materials for a number of end-use applications. This is a key factor driving the evolution of the paper packaging materials market. The growing demand for flexible packaging in industries such as food and beverages, cosmetics, pet food, and pharmaceuticals is a key trend driving the market. Coupled with this, mounting concerns pertaining to the use and disposal of plastics and the factors limiting the use of metals in making packaging are crucial factors bolstering the uptake of paper packaging materials in developing and developed regions. In addition, significant advances made in the BRIC nations toward the adoption of paper-based flexible packaging is predicted to open up promising avenue for market players in these regions.
The global paper packaging materials market is projected to rise a CAGR of 4.4% between 2013 and 2019. Expanding at this pace, the opportunities in the market is anticipated to reach US$344.4 bn by the end of the forecast period.
Rising Demand for Corrugated Packaging Box in Paper Packaging
Based on the materials used for making paper packaging, the market is segmented into liquid packaging cartons, corrugated cases, carton and folding boxes, sacks, and bags. Of these, the paper packaging accounted for the leading share of the market in 2012. However, in the coming years, the demand for corrugated cases is projected to grow at an accelerated pace. The segment is anticipated to rise at the leading CAGR from 2013 to 2019. The extensive demand for corrugated cases is expected to be driven by its applications in retail packaging and in inter-trade activities. The vast uptake of these is attributed to the durability of the packaging and recyclability. In addition, since corrugated packaging boxes are light-weight and they can be reused, this is expected to boost their demand.
Meanwhile, the demand for cartons and folding in the paper packaging materials industry is projected to rise at an impressive pace in the coming years. The rising demand for decorative and bulk packaging is further expected to accentuate the demand for cartoons and paper folding.
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Demand for Paper Packaging Materials in Food & Beverages Packaging to Reign Supreme
On the basis of application, the paper packaging materials market is segmented into beverages, fresh foods, fast foods, frozen foods, dairy and bakery, pet foods, cosmetics, and pharmaceuticals. Among these, beverages hold the leading share in 2012. On the other hand, the combined share of frozen foods, fast foods, and fresh foods in the same year is significant and is expected to rise at the major CAGR during the forecast period. The demand for paper packaging materials for frozen foods, fast foods, and fresh foods is driven by their vast demand for wrapping food products. In addition, recent advances in materials used for paper packaging and constant advancement in manufacturing technologies have led to the emergence of highly functional packaging, such as those which are leak proof.
Burgeoning Packaging Industry to Bolster Uptake of Paper Packaging Materials in Asia Pacific
Based on region, the paper packaging materials market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). Of these, Asia Pacific held the leading market share in 2012. Although the combined share of the Europe and North America was more than 50% of the market, Asia Pacific is predicted to rise at the leading CAGR during the forecast period. The spectacular growth of this regional market is attributed to the vast advances made in the packaging industry in various countries. Meanwhile, the growth of the RoW regional market is predicted to gather pace during the forecast period. The growth is fueled by the rapid emergence of the packaging sector.