Paper-based packaging is a lightweight and cost-efficient packaging solution that provides proper protection to a wide range of products. Containerboard, paperboard, paper bags, and shipping sacks are type of paper-based packaging. Containerboard is produced by using cardboard, paperboard is thick and paper-based packaging bag comes in various grades that possess unique properties that are ideal for packaging of cereals, cosmetic boxes, and medicine. Paper bag is produced by using Kraft paper and available in different shapes and sizes. Shipping sacks are multi-wall paper sacks and mostly used to ship bulk products.
The global paper packaging market is projected to surpass US$ 485.0 billion by the end of 2027, in terms of revenue, growing at CAGR of 4.4% during the forecast period (2020 to 2027).
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The global paper packaging market has witnessed significant growth in recent past years, owing to the rising demand for paper-based packaging for cosmetic products owing to rise environmental concerns among consumers Furthermore, growing investments for research & development in production paper packaging solutions have led to the introduction of products with enhanced better durability. This scenario is expected to provide lucrative growth to the global paper packaging market over the forecast period.
Major players in the global paper packaging market are increasing their investment on innovative product launchings, research & development and marketing & promotional activities to capitalize on emerging trends in various end-use industries such as food & beverage, diary and cosmetics. This scenario is expected to fuel the market during the forecast period.
Global Paper packaging Market, By Product Type:
Liquid packaging cartons
Carton & folding boxes
Global Paper packaging Market, By Application:
Dairy & bakery
Key companies covered as a part of this study DS Smith PLC, Georgia-Pacific Corporation, Holmen AB, Hood Packaging Corporation, International Paper Company, MeadWestvaco Corporation, OJI Holding Corporation, Smurfit Kappa Group Plc, Stora Enso Oyj, and The Mayr-Melnhof Group
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