Key Market Insights

"Increase use of paperboard and ban on use of plastic will spur the market revenue growth"

The global paperboard market is anticipated to grow at a CAGR of 4.5% throughout the forecast period from 2023 to 2030. In 2020, in terms of volume market register sales of 93.15 Mn MT and anticipated to reach 108.89 Mn MT expanding at a CAGR of 1.8%.

Growth of the global paperboard market is expected to be driven by a combination of factors including rising environmental concerns, ban on use of plastic, recyclability of paper, and increasing awareness for sustainable packaging among others. The global paper consumption is at unsustainable levels and is steadily increasing especially in Asia and Africa region. This in turn is boosting the demand of paperboard market. Increasing usage of paperboard in packaging globally is boosting the demand of the market. There are several different paperboard available and find usage in different industries. Rapid advancements in accessibility and quality of digital printing on paperboard empowers and augments agility for food brands which is further bolstering the demand of paperboard market.

Additionally, the growing trend to use recycled paper and paperboard with a worldwide recycling rate of more than 55% is propelling the use of paperboard. Over the past 50 years paperboard production and consumption has shifted from the North America and Europe region to Asia Pacific. Increasing use of recycled fiber reduces paperboards production footprint and preserves environmental quality. Thus, proliferating the growth of paperboard market. Paperboard offers various benefits including performance and flexibility, consumer appeal and sustainability. For instance, According to statistics provided by the US EPA (Environmental Protection Agency), paper and paperboard packaging contributes approximately 3/4th of packaging material recovered for recycling in the US which is significantly greater than other packaging materials. 

Grade Analysis

"Solid bleached sulfate to dominate the market throughout the forecast period."

Based on grade, the paperboard market is classified into solid bleached sulfate, coated unbleached kraft paperboard, uncoated recycled paperboard, and coated recycled paperboard. The solid bleached sulfate segment dominated the global paperboard market accounting for more than 30% of market share. This can be associated with the wide usage of it in various applications including, medical packaging, cosmetic and perfume packaging, aseptic drink packaging, frozen food packaging, milk and juice gable top cartons and stand up displays among others.

In contrast, coated recycled paperboard segment expected to grow rapidly during the forecast period. These paperboard find applications in soap and laundry detergent packaging, cookie and cracker packaging, paper goods packaging, and cereal box packaging among others. 

End-user Analysis

"Food & beverage segment expected to dominate the market during the forecast period"

On the basis of end-user, the global paperboard market is further classified into food and beverages, medical packaging, personal & home care, others (shoe packaging, stationary, etc.). The food and beverage segment dominated the paperboard market and is anticipated to retain its position throughout the forecast period. The segment accounted for more than 40% share in terms of revenue and more than 35% share in terms of volume. Owing to the increasing world population, rising food and beverage consumption, and increasing number use of packed foods globally is expected to boost the market demand in this segment. 

Regional Analysis

"Rising environmental concerns to bolster the growth in Asia Pacific region"

In 2021, Asia Pacific region led the global paperboard market and contributed more than 30% of revenue generated globally and more than 35% in volume terms. This can be associated to, rising industrialization, increasing population and surge in manufacturing industries in the emerging countries such as China, and India among others. The consumption of paper is slightly declining in North America region it is significantly rising in the Asia Pacific region and driving planned expansion of the paper and paperboard industry.

In contrast, Rest of the world region is anticipated to expand at a significant growth rate. Owing to the ongoing industrialization in the region coupled with presence of large forest areas in the region especially in Africa region. Thus, bolstering the market growth.

List of Companies Covered:

• Metsa Group
• Sappi Limited
• Caraustar and Cascades Inc.
• Oji Holdings Corporation
• Nippon Paper Industries Co. Ltd.
• International Paper Company
• ITC Limited
• Paper Works Industries
• Shandong Bohui Paper Group Co., Ltd
• Kappa Group plc.

Key Industry Development:

• In March 2019, Sappi Limited announced the commercialization of two new packaging products Proto and Spectro. These products have high-quality print capabilities and consistency.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Paperboard market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Paperboard market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Paperboard market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Paperboard market?
• Which is the largest regional market for Paperboard market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Paperboard market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Paperboard market worldwide?