The Paperboard Packaging Market is to Touch $209 Billion by 2030; The increasing demand for Paperboard Packaging across various industries such as food & beverages, medical & pharmaceutical, cosmetic & personal care, electronics and consumer goods propels market growth.

The Paperboard Packaging Market size is estimated to reach $209 Billion by 2030, growing at a CAGR of 4% during the forecast period 2023-2030, according to a recent report published by IndustryARC, titled, “Paperboard Packaging Market –By Source (Fresh Source and Recycled Waste Paper), By Type (Corrugated Boxes, Boxboard (Folding Boxboards, Solid Unbleached Board, Solid Bleached Board and White Lined Chipboard), Flexible Paper and Others), By Bleaching (Chemical Pulping and Thermo Mechanical Pulping), By End-use Industry (Food & Beverages (Fresh Fruits & Vegetables, Dairy, Bakery, Aseptic Drink, Cereals and Others), Medical & Pharmaceutical (Pills and Tablets, Vaccination, Syrups and Others), Cosmetic & Personal Care (Skin Care, Body Care, Hair Care and Others), Electronics (Mobile Phones, Tablets and Others), Consumer Goods and Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2023-2030”

Rise in demand for sustainability and eco-friendly packaging and advancements in barrier coatings and functionalities are fueling the growth of the Paperboard Packaging industry during the forecast period.

Asia-Pacific accounted for the largest share of 46% in 2023 of the Paperboard Packaging market, driven by robust industrialization, a booming e-commerce sector, and high consumer demand for sustainable packaging solutions. Countries like China, India, and Japan are at the forefront of this growth, as rapid urbanization and rising disposable incomes boost demand for consumer goods, particularly food and beverages, personal care items, and electronics. Additionally, the shift towards sustainable packaging in response to growing environmental concerns has led companies to increasingly adopt paperboard over plastic alternatives. E-commerce growth in the region has further strengthened the market, as paperboard packaging meets the logistics requirements for lightweight, durable, and visually appealing solutions suitable for online retail. Moreover, regional manufacturers benefit from lower production costs and access to raw materials, which enables them to meet the scale needed to support the demands of global and domestic markets. In January 2024, ITC Sunfeast Farmlite, a range of wholesome biscuits from ITC Foods, has launched its new offering Sunfeast Farmlite Digestive Biscuit Family pack in 100% outer paper bag packaging. An industry first innovation in packaging, this move establishes the brand as a trendsetter in the biscuit category. The Asia-Pacific paperboard packaging market is also fueled by government initiatives promoting eco-friendly materials, further encouraging widespread adoption in various sectors and solidifying the region’s leading position in the market.

Sustainability is a defining trend in the paperboard packaging market as brands and consumers prioritize eco-friendly alternatives to reduce their environmental impact. Paperboard, being biodegradable, recyclable, and renewable, is in high demand across industries, especially for packaging that previously used plastics. This trend is driven by both consumer awareness and regulatory pressures for sustainable solutions. For example, in November 2023, Velvin Group, one of the leading manufacturers of paper based sustainable packaging solutions company in India and Rengo Japan have officially announced their strategic joint venture. The partnership between Velvin Group and Rengo Japan aims to level up the corrugation industry in India, with establishing a new unit in Cheyyar, Tamil Nadu. As a result, the paperboard packaging market is expected to grow significantly, with companies investing in sustainable materials and processes to stay competitive in this eco-focused landscape. In December 2023, State Bank of India (SBI) has recently made a strategic move into the paper packaging industry by investing ₹49.99 crore in Canpac Trends Private Limited, an Ahmedabad-based company specializing in paper-based packaging solutions. This trend is projected to continue as sustainability becomes integral to packaging choices, offering long-term benefits to both consumers and manufacturers.

Technological advancements in barrier coatings and functionalities are transforming the paperboard packaging industry, making it possible to pack a wider range of products, including food and beverages, without compromising quality. Traditionally, paperboard’s sensitivity to moisture limited its use; however, recent innovations in water-resistant and grease-resistant coatings have expanded its applications. These coatings enhance paperboard’s ability to preserve products, improving shelf life and reducing food wastage, which aligns with growing sustainability concerns. In the latest dedicated study – The Future of Functional and Barrier Coatings for Paper and Board to 2028, Smithers projects total value in this market will reach $8.56 billion in 2023, with almost 3.37 million tons (metric) of coating material consumed, globally. With demand strengthening in many segments, pack coatings are also benefitting from increased R&D spending, as new corporate and regulatory targets are set to enter into force. The earliest in 2025. Expert Smithers forecasting tracks how coating demand will increase to $10.79 billion in 2028, equivalent to a compound annual growth rate (CAGR) of 4.7% for the five-year period. Across the same time, volume demand will increase at a marginally faster CAGR of +4.8% to reach 4.25 million tons in that year. As these technologies become more widespread, barrier-coated paperboard is expected to gain prominence, enabling brands to meet consumer demand for functional, environmentally-friendly packaging solutions.