Paperboard Packaging Market in North America to grow at 3.3% CAGR through 2026

North America paperboard packaging market forecast is certain to soar on account of the expanding demand for packaged food, especially since the outbreak of Coronavirus pandemic. The shifting consumer preferences can be attributed to the growing degree of convenience attached to convenience food. As individuals have been readily spending on high quality packaged food & beverages, the demand for efficient packaging solutions will rise upward.

During 2019, the North America paperboard packaging market size was valued at $28.13 billion and is expected to grow at a 3.3% CAGR through 2026. Although the expenditure on food services across the U.S. and other North American countries declined during 2020 to $42 billion from $57.8 billion during March 2019 due to the COVID-19 pandemic, the market is gaining momentum gradually.

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The development of eco-friendly packaging solutions such as containerboard has been responsible for this upward movement of the industry. The recycled paper segment is expected to push the paperboard packaging market in North America share. It is likely to account for over 60% of the total market revenue by 2026 owing to the growing awareness pertaining to the use of recycled paper. Government bodies have been introducing initiatives to prevent environmental degradation.

Personal care & cosmetic products have been acknowledging the potential of eco-friendly packaging solutions with a view to avoid damage caused by plastic packaging. The recent announcement by Loreal that it will embrace sustainable solutions across 100% of its products is expected to influence the North America paperboard packaging industry expansion, paving the way for other brands to follow suit.

Canada is exhibiting high demand for paperboard packaging across multiple segments such as food & beverage, medicine, and durable goods. Government mandates have been compelling the use of biodegradable products, boosting the North America paperboard packaging market outlook. The growing emphasis laid upon the recyclability of packaging materials has been promoting the usage of paperboard packaging. During 2013, nearly 80% Canadian papermills utilized recycled waste in paper production.

The food & beverage segment in the North America paperboard packaging market forecast is projected to attain over 50% of the total industry share by 2026, assisted by the high demand witnessed by the leading packaged food brands. The emergence of innovative, nutritious, and tasty packaged food & beverages alongside the increased consumption of cereals, milk, juices, and other staples has been vitalizing the market growth. corrugated boxes are being used to a greater extent when compared with other materials by several leading food & beverage brands.

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The medical paperboard packaging segment in the North America is poised for considerable growth as well and is anticipated to grow at a 3.4% CAGR through the forecast timeline. Paperboard packaging is utilized as a secondary packaging material for ensuring protection of the primary packaging of bottles, tubes, blisters, and pouches. Since the COVID-19 pandemic has brought into focus the importance of optimum safety, the rising concerns are resulting in greater inclination toward sustainable packaging solutions such as containerboard.

Mondi Plc, DS-Smith, Smurfit Kappa Group, Mesta Group, Packaging Corporation of America, Story Enso, BillerudKorsnäs AB, Oji Holdings, Clearwater Paper, and Sappi are some leading manufacturers of paperboard packaging market in North America.

Table of Contents (ToC) of the report:

Chapter 1   Methodology And Scope

1.1    Research Methodology

1.2    List of data sources

1.2.1    Primary

1.2.2    Secondary

Chapter 2   Market Snapshot

2.1    North America paperboard packaging market snapshot

Chapter 3   North America Paperboard Packaging Trends

3.1    Industry coverage

3.2    Industry size and forecast, 2016 – 2026

3.3    Value chain analysis

3.3.1    Company product snapshot

3.4    COVID-19 impact on industry landscape

3.4.1    Optimistic

3.4.2    Pessimistic

3.4.3    Realistic

3.5    Innovation landscape

3.6    Regulatory norms & directives

3.7    Drivers & restraints

3.7.1    Market drivers

3.7.2    Market restraints

3.8    Industry analysis – Porter’s

3.9    Product growth mapping

3.10    Competitive benchmarking, 2019

3.10.1    Strategy dashboard

3.11    PESTLE analysis

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