Environmental Concerns Boost Sales In Global Paper Packaging Materials…

Environmental Concerns Boost Sales In Global Paper Packaging Materials Market

 

The global paper packaging materials market is experiencing growth due to increasing demand for sustainable packaging solutions driven by environmental concerns. In a report titled “Paper Packaging Materials: Global Strategic Business Report,” Research and Markets forecasts that the market will expand at a compound annual growth rate (CAGR) of 6.6% from 2022 to 2030. According to the analysis, the market would be worth $420.6 billion by 2030, up from an estimated $251.7 billion in 2022. Especially in the Paper Bags & Sacks category, which is anticipated to register a CAGR of 6.6% and reach $132.8bn by the end of the analysis period, sustainability continues to be a key element driving recycling initiatives in the paper packaging materials market. The report also highlights notable geographic markets, including the US, China, Japan, and Canada, which are forecasted to grow at varying rates. The demand for paper is rising due to environmental concerns regarding the use of plastics in packaging applications. However, sustainable packaging presents technical challenges, which the report also analyses.
As a result of programs promoting sustainability and recycling, the market for paper packaging materials is anticipated to expand greatly in the years to come.