According to a market research report released by Technavio, the paper and paperboard container and packaging market in APAC is estimated to grow by USD 21.3 billion from 2024-2028, with an estimated CAGR of 4.2% during the forecast period.
Oct 24, 2024
Technavio has released a market research report titled- Paper and Paperboard Container and Packaging Market in APAC 2024-2028. According to the report, the paper and paperboard container and packaging market in APAC is estimated to grow by USD 21.3 billion from 2024-2028, with an estimated CAGR of 4.2% during the forecast period.
The driving market growth for this segment is increased adoption of retail-ready packaging, along with a trend towards use of QR code with packaging. However, limited durability of paper bags poses a challenge.
QR codes offer a practical marketing solution for paper and paperboard containers and packaging in APAC. By placing a QR code on these containers and packaging, enterprises can provide consumers with quick access to additional product information.
QR codes perform different roles in primary and secondary packaging. In primary packaging, QR codes can supplement labels with details on product origin, production methods, and usage instructions. For secondary packaging, QR codes can be used to promote the goods inside and offer tutorials on proper usage. The versatility of QR codes in enhancing the customer experience will boost the demand for paper and paperboard containers and packaging, contributing to revenue growth in the APAC market.
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The APAC market is also witnessing a significant trend in the use of sustainable materials for making paper and paperboard. Paper packaging is gaining popularity due to its use of eco-friendly polymers and plastics that reduce carbon footprints. Sustainable materials such as biodegradable and recycled-grade packaging are high in demand, with cellulose fibers derived from pulp being a key raw material.
Innovation in packaging is another major trend, with lightweight and recyclable paper and paperboard containers being preferred for e-commerce and online food delivery. Corrugated packaging and rigid packaging are popular choices for primary packaging, while flexible packaging is used for secondary packaging. The market is shifting towards renewable and recyclable materials to reduce deforestation and promote healthier food options.
Printing technology advancements is another major development that enables customized branding and design on paper and paperboard containers.
Although the APAC paper and paperboard container and packaging market is experiencing growth due to the increasing demand for eco-friendly alternatives to plastic containers and bags, the use of paper bags in the food and beverage industry poses challenges.
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In 2023, the ban on single-use plastic bags in many APAC countries has led to a rise in paper bag usage. However, paper bags’ durability is a concern, particularly for enterprises handling food items. For instance, in Pune, food services providers find it challenging to use paper bags for takeaway services due to the risk of liquid food spillage and damage to paper containers. The paper and paperboard container and packaging market in APAC faces challenges in the form of increasing imports and exports, requiring efficient supply chain and inventory management. Additionally, non-biodegradable materials, energy consumption, and greenhouse gas emissions pose other challenges to the segment.
All in all, writing paper and packaging innovations, such as folding cartons and RFID technology, are essential for fast-moving consumer goods like frozen meals and eco-friendly packaging. Sustainability is a key trend, with a focus on circular economy, recycled fibers, and sustainable green packaging. Kraft Collection, paper bags, and recycled paper bags are popular choices for clients and customers. Online shopping and e-retailing channels require convenient packaging for small pack sizes. R&D activities aim to reduce CO2 emissions and improve health benefits. Overall, the paper market has understood that environmental standards and recycling are crucial for reducing waste and minimizing the use of virgin materials.
