Paperboard Packaging Market Size

Paperboard Packaging Market Size

Paperboard Packaging Market size was USD 142.3 billion in 2019 and will grow at 3.5% CAGR between 2020 and 2026. Rising consumption of packaged food, increasing demand from the packaged food business and favorable trends associated with sustainable packaging sector will support revenue generation.

Paperboard is a paper-based thick material used in packaging applications. The raw material used to produce paperboard is wood pulp. Paperboards are recycled in large amounts to reduce deforestation and waste. These are mainly used in the packaging of food & beverages, medical packaging, durable goods, non-durable goods, industrial packaging, and cosmetics.

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Paperboard packaging is the preferred choice for the packaged food industry. It is used for variety of food products such as soups, spices, dairy products, etc. Paperboard is generally coated with polymers or plastics to maintain hygiene and keep it untainted. It helps in reducing the total weight of the final product as compared to glass and metal, and at the same time, keeps the food product unchanged by maintaining freshness. Odor and taste neutrality of paperboard make it an ideal choice as a packaging material.

Consumers across the globe are increasingly becoming aware of the environmental issues associated with packaging and are shifting toward eco-friendly products. Consumers, government, and media are pressurizing manufacturing companies to make their products, packaging, and operations sustainable. People are willing to pay more for sustainable packaging options. Such trends will drive the paperboard packaging market growth.

Paperboard packaging can be substituted with plastics, metals, and glass packaging. Paperboard has been the traditional choice for packaging owing to their superior performance characteristics and ease of availability. However, with changing trends in the packaging industry, buyers of packaging materials are shifting toward plastics.

Plastics are highly durable and can sustain adverse logistics and transportation conditions. In addition, plastics have excellent visual appeal and superior barrier properties against moisture and air. Increasing popularity of plastics poses serious threats to the growth of paperboard packaging market in the future.