Population growth and urbanisation are increasing trade and ,simultaneously, the use of packaging. Online trade is further increasing the need for packaging. Products are also being consumed on the go which is growing the need for food service packaging and different sizes of packaging.
The total packaging market value is USD 850 billion and the growth is expected to continue. Paperboard packaging market is roughly USD 300 billion of which 50% is made from fresh fibre.
The value of non-fibre based packaging, such as plastic, glass and metal packaging, is USD 460 billion i.e. slightly more than half of the total packaging market. Solely the value of plastic packaging is about one third of total packaging market.
According to Smithers Pira the average annual growth rate of paperboard packaging is estimated to grow in 2017–2022 + 3% per year.