Paper Packaging Market Size, Share, Growth Trends, Forecast and outlook (2024-2031)

Global Paper Packaging Market reached US$ 349.17 billion in 2023 and is expected to reach US$ 489.71 billion by 2031, growing with a CAGR of 4.32% during the forecast period 2024-2031. The paper packaging industry is experiencing rapid expansion due to growing environmental concerns, regulatory pressures and consumer demand for sustainable products. As nations and companies worldwide commit to reducing plastic waste, paper-based packaging is emerging as a viable alternative across various sectors, including food and beverage, pharmaceuticals and e-commerce. Advancements in paper quality, strength and recyclability further bolster the market, making paper packaging a more attractive option. Advancements in biodegradable coatings and barrier technologies improve the performance of paper products, enabling them to effectively rival traditional plastic packaging. As a result, the paper packaging industry is not only meeting consumer demands but also adhering to stringent regulations aimed at reducing plastic usage and promoting circular economy principles.