Global Paper Packaging Market to Reach $236.46 Billion this Year

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Although the performance of the paper packaging industry, like every industry, is tied intimately to global economic trends, the report notes, it has proven itself to be relatively resilient against the backdrop of the economic crisis of 2008. "Indeed, despite the reverberations still being felt in the economic markets, paper packaging is enjoying a second wind driven by convenience, affordability and recyclability," Visiongain points out.

Paper-based packaging has very strong environmental credentials and with further improving papers barrier properties, the industry is increasing its viability as a packaging material, Visiongain continues. As technological improvements continue to progress, providing packaging tailored to the consumers needs, the continuous growth of paper packaging is further driven by its eco-friendly nature and emerging acceptance amongst consumers, it adds.

The Paper Packaging Market 2011-2021 report discusses these trends in detail, Visiongain says, revealing the multitude of reasons why paper packaging fulfils the needs of the consumer and why the outlook remains positive for the industry. "Over the next decade, the paper packaging industry is expected to exhibit corresponding growth, driven by escalating demand for sustainable packaging goods, with enhanced recyclability feature and consumers' preference for healthy lifestyles worldwide," the company notes.

Buoyed by lucrative new markets in the rapidly emerging economies of China, India, and Brazil, globalization has brought accessibility and greater reach to the industry, according to Visiongain, which adds that these emerging markets, with their vast new potential consumer bases, are leading to an increase in mergers and acquisitions with companies keen to gain a foothold in these areas.

The paper packaging industry is witnessing unprecedented opportunity and growth, the report points out. Ever increasing consumer demand, especially in North America, Europe, and the new economic powerhouses of China and India, combined with an increased emphasis on recyclability due to the evolving regulation in the packaging industry, are driving the industry. Meanwhile, changes in lifestyle, demographics and consumer habits are constantly influencing paper packaging and its consumption.

As supermarkets and hypermarkets continue to flourish, it is becoming increasingly important for packaging manufacturers to differentiate their products and make them stand out on the crowded shelves. The advancements made in processing technologies have driven specialization within the industry, resulting in an ability to produce specialty products that effectively meet customer requirements. As paper grades and printing qualities steadfastly improve, paper packaging is able to diversify and meet customer needs aesthetically and in terms of functionality and convenience, the report emphasizes.

Changing global demographics are also a key driver for growth in the paper packaging industry, according to the new Visiongain report. The increased lifespan and reduced birth rates in the developed markets are providing new packaging challenges for companies keen to expand their customer base by catering to the expanding over-60s generation. In addition, youthful populations in the emerging markets are focusing the attention of packaging manufacturers on lightweight, attractive, and colorful packaging for this new, consumer orientated generation.

Sample pages of the report are available online.