Paper packaging has been existence traditionally and offers lightweight and eco-friendly packaging features. Paper packaging contributes to environmental sustainability and is less expensive compared to other type of packaging.
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The concerns for environmental changes and increasing demand for food packaging are driving the market growth in recent years.
Features such as cost-effectiveness, durability, non-toxicity, light-weightiness, and eco-friendly nature of paper packaging will further drive the market growth in the forecast period to 2025.
Deforestation for paper resources is a critical restraint for market growth globally.
By product type
Cartons and Folding boxes
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By Geography the market is segmented into the Americas, Europe, Asia Pacific and the Rest of the World. Asia Pacific region is the leading market for paper packaging in 2017 and is expected to have a dominant share over the forecast period to 2025.
The growth is supported by increasing innovation in the paper packaging products especially from emerging countries in the Asia Pacific, besides environmental pressures.
The competition in the industry mainly due to the presence of various small and large scale packaging companies globally. The key players in the Paper Packaging market are International Paper Company, Packaging Corporation of America, Evergreen Packaging Inc. and others.
Companies are undergoing acquisitions and mergers to be competitive in the market. For instance, in November 2018, DS Smith has acquired Europac, that has enabled DS to be competitive and strengthened its presence in Europe.