12.02.21
MarketsandMarkets’ latest packaging report, "Paper & Paperboard Packaging Market by Grade (SBS, CUK, FBB, WLC, Glassine & Greaseproof Paper, Label Paper), Type (Corrugated Box, Boxboard, Flexible Paper) Application (Food, Beverage, Healthcare, Personal & Homecare), & Region - Global Forecast to 2026," estimates the segmet will grow from $199.8 billion in 2021 and reach $254.5 billion by 2026, at a CAGR of 5% during the forecast period.
The global market is primarily driven by increasing environmental issues of landfills and degradation of packaging material. A shift has been seen from plastic to more usage of paper & paperboard in the packaging industry. The rising demand for sustainable and recycled packaging for food, healthcare, and personal & homecare applications will further drive the paper & paperboard packaging market.
Food is the fastest-growing application segment in the paper & paperboard packaging market. The growth in this segment is attributed to the increase in the consumption of convenience foods. It accounted for a share of about 42.2% of the paper & paperboard packaging market, in terms of value, in 2020. APAC accounted for the largest share of the paper & paperboard packaging market in 2020.
The global market is primarily driven by increasing environmental issues of landfills and degradation of packaging material. A shift has been seen from plastic to more usage of paper & paperboard in the packaging industry. The rising demand for sustainable and recycled packaging for food, healthcare, and personal & homecare applications will further drive the paper & paperboard packaging market.
Food is the fastest-growing application segment in the paper & paperboard packaging market. The growth in this segment is attributed to the increase in the consumption of convenience foods. It accounted for a share of about 42.2% of the paper & paperboard packaging market, in terms of value, in 2020. APAC accounted for the largest share of the paper & paperboard packaging market in 2020.