As per Market Research Future (MRFR) analysis, the global paper and paperboard packaging market is projected to grow at a CAGR of 6% from 2017-2023 (forecast period).
The report identifies and explores the effects of the outbreak of COVID-19 on the global paper and paperboard packaging industry, including potential opportunities and obstacles, drivers, and risks. Paper and paperboard packaging are thick paper-based materials used for packing and wrapping products. It is lightweight and can be easily cut, molded, and shaped.
The market for paper and paperboard packaging is rising at a high pace and is anticipated to develop at the same pace over the forecast period. Continuous growth in online shopping, primarily due to faster delivery, simpler return policies, and free shipping, is the key driver of the paper & paperboard packaging industry’s overall development.
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The global paper & paperboard packaging market has been segmented based on type, grade, and application.
By region, the global paper & paperboard packaging market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW).
Asia Pacific dominates the global market for paper & paperboard packaging and is likely to rise at the fastest CAGR during the forecast period. The exponential growth of the packaging industry in the Asia Pacific region is a crucial driver of market growth. The rising number of supermarkets and hypermarkets in the area is also a key factor expected to fuel the market’s growth for paper and paperboard packaging in the coming years. In addition, rising disposable income and changing lifestyles have also positively affected the global market growth. China, India, Japan, and Australia are the main contributors to the Asia Pacific market. China has the most substantial market share in the Asia Pacific.
North America is the second-largest market for paper & paperboard packaging. The food and beverage sector in the region is large and multifarious, including multi-tiered supply chains. The increasing need for proper storage of food and beverage products in warehouses and their proper transport to end-users stimulates the market’s growth for paper and paperboard packaging. The U.S. gained the largest share in the North American region, primarily due to the high demand for online shopping.
Europe is a large market for paper & paperboard packaging and is projected to contribute to the growth of the market over the assessment period. The growing emphasis on sustainability and increased demand for consumer-friendly products that are lightweight and easily transportable are significant factors propelling the paper & paperboard packaging industry’s growth.
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TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
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