In 2012, the global market for paper packaging stood at US$254.80 billion and and has been growing at a 4.4% CAGR since 2013—a rate that will continue through 2019. The value is estimated to reach US$344.43 billion by 2019. In 2012, the overall demand for paper packaging stood at 181.48 billion tons (in terms of volume).That’s according to a new research report, “Paper Packaging Materials Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019,” from Transparency Market Research.
Notes the report, paper is the largest material type in the packaging market. Bans on the use of lightweight plastic bags and a rising awareness of ecological issues around the world are expected to boost the demand for paper packaging materials. Critical factors such as volatility in raw material prices, energy costs, and global economic slowdown have had an enormous impact on the global packaging market in the past few years. To overcome this, more companies have been aiming to develop sustainable and eco-friendly packaging materials, which can be recycled and reused.
