According to a new growth forecast analysis by GMI, global paperboard packaging market is growing at 7.5% compounding annual growth rate to exceed USD 240 billion by 2024. Innovation and technology have been profoundly underlining the paperboard packaging market over the recent years. Lately, paperboard has emerged as the packaging substrate of choice, right from consumers to retailers & supply chain managers to even designers and marketers. Making use of paperboard as a medium of packaging has brought unique graphical and structural design opportunities that stand out in the retail sector.

The report also identifies the growth of plastic flexible packaging solutions as one of the major shortcomings faced by the paperboard packaging market. Plastic is a widely-used packaging option that is highly cost-effective, durable, and easily available. Moreover, the fact that plastics are inherently water resistant and prevent moisture damage further adds to the growth of plastic packaging solutions, in turn impeding the paperboard packaging industry demand. However, stringent regulating norms pertaining to plastic usage and its non-biodegradability are certain to fuel the demand for paperboard packaging in the ensuing years.

Increasing consumer awareness regarding the environmental concerns over the use of non-biodegradable materials have further prompted them to opt for environment friendly packaging solutions. Rising consumer preference for sustainable packaging techniques and recyclability of paper and paperboard packaging can be listed as the key elements fueling the growth of paperboard packaging industry.

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The pressing need for higher productivity in packaging industry coupled with the growing consumer base demanding eco-friendly and biodegradable products are prominently impacting paperboard packaging market dynamics. A significant rise in the purchase parity of consumers is also a major factor supporting the go-green notion.

In fact, a sizable proportion of the consumers are willing to pay a premium for sustainable products. In the mature Paperboard packaging market, many consumer brands have approached this trend by redesigning their products in order to reduce the proportion of packaging materials. For instance, Kleenex reduced its tissue boxes packaging material by 30%, while Kimberley-Clark reduced their corrugated board packaging usage by 55% for some product lines.

Several paperboard packaging market players along with paper mills have also responded to the lightweight paperboard trend. Advancements in packaging technology have encouraged these product manufacturers to achieve comparable compression strength and printability at lower grammage. This is likely to reduce the higher costs of paperboard as light weight means less shipping and storage costs. This trend will indeed escalate the product demand, enhancing the overall profitability quotient of this industry.

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Some of the renowned players defining the competitive hierarchy of paperboard packaging market include Southern Champion Tray, International Paper Company, Outlook Group LLC, Rock-Tenn Company, Nippon Paper Industries, and Shandong Bohui Paper Industry Co Ltd.

Paperboard Packaging Market by Raw Material

Fresh (virgin) sources
Wood pulp
Others
Recycles waste paper
Paperboard Packaging Market by Product

Boxboard
Folding boxboard (FBB)
Solid unbleached board (SUB)
Solid bleached board (SBB)
White lined chipboard (WLC)
Containerboard
Paperboard Packaging Market by Application

Food & beverages
Non-durable goods
Durable goods
Medical
Others
The above information is provided on a regional and country basis for the following:
North America
Europe
Asia Pacific
Latin America
Middle East & Africa