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Additional factors such as changing lifestyle coupled with economic growth that defines the hiked-up demand for paper and paperboard packaging, driving the growth across sectors mentioned above.
Besides the electronics sector is another major application area of this packaging type, witnessing constant growth. The demand for electronic products is growing steadily primarily due to the market penetration of the internet and smartphones which influences the market growth positively.
Regional Analysis
The Asia Pacific region holds the hegemony over the global Paper and Paperboard Packaging Market Trends. Owing to the massive growth in the packaging business in the region, APAC is expected to retain its dominance throughout the forecast period.
The North America region stands second in the global COVID-19 Impact in terms of the market size. The burgeoning and multifarious food & beverage industry in the region, is providing impetus to the market growth owing to its multi‐tiered supply chains, demanding for proper storage of the products in the warehouses and their proper transportation to the end-users. The US among other North American countries accounts for the largest market share in the region, predominantly due to the huge demand for online shopping.
Europe is another lucrative market for paper & paperboard packaging, globally which is expected to contribute significantly to the market growth during the assessment period. Also, the increasing focus on sustainability and the augmented demand for lightweight, easily transportable, and consumer-friendly products are some of the key driving forces responsible for the market growth in the region.
Segmentations
The MRFR analysis is segmented into four key dynamics for enhanced understanding.
By Types : Corrugated Boxes, Boxboard, and Paper bags among others.
By Grades : Folding boxboard, Solid bleached sulfate, White line chipboard, and Coated Unbleached Kraft board among others.
By Applications : Personal care, Electronics, Food & Beverages and Healthcare among others
By Regions : North America, Europe, APAC, and the Rest-of-the-World.
Key Players
Amcor Ltd. (Australia), ITC Ltd. (India), Cascades Inc. (Canada), RockTenn Company (US), Clearwater Paper Corporation (US), Packaging Corporation of America (US), Mondi Group (South Africa), DS Smith Plc. (UK), Metsa Group (Finland)
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