For the purpose of packaging, different materials are used. Paper is one of the most commonly used materials for making packaging products due to its cost-effective and environment-friendly nature. The papers such as glassine paper, craft paper, poster paper, and others are currently used on a very large scale. The basic raw materials used in the manufacturing process of the paper packaging product include pulp, timber, paper, and other forest materials. The low environmental damage is the main reason behind the increasing use of paper packaging materials.
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The bifurcation is basically done on the basis of product and application. The product segment is divided into the carton and folding boxes, liquid packaging cartons, corrugated cases, and others. The application segment is categorized into fresh food, beverages, dairy and bakery, fast food, frozen food, pet food, pharmaceuticals, cosmetics, and so on. According to the current study, the global paper packaging material market accounted USD 286.61 Billion in 2015, which is anticipated to reach USD 362.65 Billion in 2021 with a 4.4% CAGR of growth between 2016 and 2021. Emami Paper Mills is setting up a new paper packaging plant at Balasore in Odisha. The new state-of-art paper packaging can be used to pack food items, cosmetics, pharmaceuticals, and other consumer products. They are also planning to manufacture elementary chlorine free food-grade packaging materials.
Rising ecological system awareness among the people has resulted in the increasing demand for eco-friendly packaging materials. The use of paper as a packaging material can prove to be beneficial in case of food items, beverages, cosmetics, and pharmaceutical products, which require a lot of care and handling. The recycling option of the paper packaging material compared to the plastic, easily disposable, lightweight, cost-effective, environment-friendly, easy to handle, non-toxic, and durable are some of the features of paper that are expected to drive the global market. The increasing deforestation for covering up the need for raw materials and also the ban on the lightweight plastic bags is expected to curb the overall growth rate.
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Some of the prominent players ruling the global paper packaging material market include The Mayr-Melnhof Group, Stora Enso Oyj, MeadWestvaco Corporation, DS Smith PLC, International Paper Company, Holmen AB, Smurfit Kappa Group Plc, Hood Packaging Corporation, OJI Holding Corporation, and Georgia-Pacific Corporation.