LONDON--(BUSINESS WIRE)--The paper and paperboard container and packaging market is expected to grow by USD 102.51 billion during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.
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The e-commerce industry is growing rapidly across the world due to the increasing penetration of smartphones and the internet. This has increased the sales of products such as food and beverage, electronics, personal care products, and healthcare products through online retail platforms. Paper and paperboard containers are widely used by online retailers for the packaging of these products. Besides, the rapid expansion of the middle-class population has led to a rise in the number of online customers worldwide, which has increased the demand for effective packaging solutions. This is encouraging market vendors to offer paper and paperboard containers and packaging products that are specialized for e-commerce companies. All these factors are contributing to the growth of the global paper and paperboard container and packaging market.
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As per Technavio, the environmental benefits associated with paper and paperboard containers will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Paper and Paperboard Container and Packaging Market: Environmental Benefits Associated with Paper and Paperboard Containers
Paper and paperboard containers are biodegradable and more sustainable compared to plastic containers. They are recyclable and reusable, help save energy, conserve natural resources, and reduce greenhouse gas emissions. Moreover, they are made from unbleached papers and locally sourced materials. This significantly brings down transportation costs, thereby reducing the overall carbon footprint. Many such environmental benefits are increasing the adoption of paper and paperboard containers among end-users. These factors are expected to have a positive impact on the growth of the global paper and paperboard container and packaging market during the forecast period.
“Emergence of specialized paper and paperboard containers and the rising demand from the food and beverage industry will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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Paper and Paperboard Container and Packaging Market: Segmentation Analysis
This market research report segments the paper and paperboard container and packaging market by Product (Paper bags and sacks, Corrugated containers and packaging, Folding boxes and cases, and Others), Geography (APAC, Europe, North America, South America, and MEA), and End-user (Food and beverages, Industrial products, Healthcare, and Others).
The APAC region led the paper and paperboard container and packaging market in 2019, followed by Europe, North America, South America, and MEA respectively. During the forecast period, APAC is expected to register the highest incremental growth due to factors such as the rise in population and increasing urbanization across various countries in the region.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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