Packaging Materials Market

The article discusses the current and projected trends in the global packaging materials market from 2022 to 2030. It covers the expected growth rate in both volume and value terms, as well as detailed insights into consumption, production, imports, and exports of packaging materials. Key highlights include the major consuming and producing countries, popular product types, average prices, and growth rates over the past decade.

Market Forecast

Driven by increasing demand for packaging materials worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.9% for the period from 2022 to 2030, which is projected to bring the market volume to 311M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.3% for the period from 2022 to 2030, which is projected to bring the market value to $364.4B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Packaging Materials

In 2022, consumption of packaging materials decreased by -0.5% to 267M tons for the first time since 2018, thus ending a three-year rising trend. The total consumption volume increased at an average annual rate of +2.2% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2021 when the consumption volume increased by 6.4% against the previous year. As a result, consumption reached the peak volume of 269M tons, leveling off in the following year.

The global packaging materials market size shrank to $261B in 2022, which is down by -6.3% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +2.5% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $278.7B, and then fell in the following year.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (83M tons), the United States (44M tons) and Japan (12M tons), with a combined 52% share of global consumption. India, Germany, Mexico, Italy, South Korea, Brazil, Indonesia, Spain, Poland and Russia lagged somewhat behind, together accounting for a further 25%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by India (with a CAGR of +7.2%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, China ($119.3B) led the market, alone. The second position in the ranking was taken by the United States ($32.6B). It was followed by Japan.

In China, the packaging materials market increased at an average annual rate of +4.2% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of market growth: the United States (+2.4% per year) and Japan (-5.5% per year).

The countries with the highest levels of packaging materials per capita consumption in 2022 were Poland (139 kg per person), South Korea (138 kg per person) and the United States (130 kg per person).

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +6.2%), while consumption for the other global leaders experienced more modest paces of growth.

Consumption By Type

Paperboard case materials (185M tons) constituted the product with the largest volume of consumption, accounting for 69% of total volume. Moreover, paperboard case materials exceeded the figures recorded for the second-largest type, folding boxboard (50M tons), fourfold. Wrapping paper, packaging paper and paperboard (20M tons) ranked third in terms of total consumption with a 7.6% share.

For paperboard case materials, consumption increased at an average annual rate of +2.7% over the period from 2012-2022. With regard to the other consumed products, the following average annual rates of growth were recorded: folding boxboard (+1.6% per year) and wrapping paper, packaging paper and paperboard (+0.7% per year).

In value terms, paperboard case materials ($164.4B) led the market, alone. The second position in the ranking was taken by folding boxboard ($59.8B). It was followed by wrapping paper, packaging paper and paperboard.

From 2012 to 2022, the average annual growth rate of the value of paperboard case materials market amounted to +3.7%. With regard to the other consumed products, the following average annual rates of growth were recorded: folding boxboard (+0.6% per year) and wrapping paper, packaging paper and paperboard (+1.1% per year).

Production

World Production of Packaging Materials

In 2022, production of packaging materials decreased by -0.4% to 266M tons for the first time since 2018, thus ending a three-year rising trend. The total output volume increased at an average annual rate of +2.1% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 6.6% against the previous year. As a result, production reached the peak volume of 267M tons, leveling off in the following year.

In value terms, packaging materials production dropped to $262.2B in 2022 estimated in export price. The total output value increased at an average annual rate of +2.4% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 31%. As a result, production reached the peak level of $297.5B, and then declined in the following year.

Production By Country

The countries with the highest volumes of production in 2022 were China (80M tons), the United States (49M tons) and Japan (13M tons), together comprising 53% of global production. Germany, India, South Korea, Brazil, Sweden, Russia, Indonesia, Italy, France and Mexico lagged somewhat behind, together comprising a further 26%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by India (with a CAGR of +8.4%), while production for the other global leaders experienced more modest paces of growth.

Production By Type

Paperboard case materials (183M tons) constituted the product with the largest volume of production, accounting for 69% of total volume. Moreover, paperboard case materials exceeded the figures recorded for the second-largest type, folding boxboard (51M tons), fourfold. The third position in this ranking was taken by wrapping paper, packaging paper and paperboard (20M tons), with a 7.5% share.

For paperboard case materials, production expanded at an average annual rate of +2.6% over the period from 2012-2022. With regard to the other produced products, the following average annual rates of growth were recorded: folding boxboard (+1.7% per year) and wrapping paper, packaging paper and paperboard (+0.8% per year).

In value terms, paperboard case materials ($168.2B) led the market, alone. The second position in the ranking was taken by folding boxboard ($58.3B). It was followed by wrapping paper, packaging paper and paperboard.

For paperboard case materials, production expanded at an average annual rate of +3.8% over the period from 2012-2022. With regard to the other produced products, the following average annual rates of growth were recorded: folding boxboard (+0.4% per year) and wrapping paper, packaging paper and paperboard (+0.3% per year).

Imports

World Imports of Packaging Materials

After ten years of growth, overseas purchases of packaging materials decreased by -2.2% to 68M tons in 2022. The total import volume increased at an average annual rate of +3.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when imports increased by 11% against the previous year. Global imports peaked at 69M tons in 2021, and then declined modestly in the following year.

In value terms, packaging materials imports expanded markedly to $70.4B in 2022. Overall, total imports indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +39.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 24% against the previous year. Global imports peaked in 2022 and are expected to retain growth in the near future.

Imports By Country

The purchases of the twelve major importers of packaging materials, namely China, Germany, Italy, Poland, the United States, Mexico, France, the UK, Belgium, Spain, Turkey and Canada, represented more than half of total import. The Netherlands (1.8M tons) took a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +14.3%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, Germany ($5.1B), China ($5.1B) and the United States ($4.4B) appeared to be the countries with the highest levels of imports in 2022, with a combined 21% share of global imports.

China, with a CAGR of +8.8%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Imports By Type

In 2022, paperboard case materials (35M tons) was the key type of packaging materials, comprising 52% of total imports. Folding boxboard (20M tons) took the second position in the ranking, distantly followed by wrapping paper, packaging paper and paperboard (11M tons). All these products together took approx. 45% share of total imports. Other papers packaging (2.3M tons) held a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main imported products, was attained by paperboard case materials (with a CAGR of +4.4%), while imports for the other products experienced more modest paces of growth.

In value terms, the largest types of imported packaging materials were folding boxboard ($27.4B), paperboard case materials ($27B) and wrapping paper, packaging paper and paperboard ($14.2B), together accounting for 97% of global imports.

Paperboard case materials, with a CAGR of +6.7%, saw the highest rates of growth with regard to the value of imports, in terms of the main imported products over the period under review, while purchases for the other products experienced more modest paces of growth.

Import Prices By Type

The average packaging materials import price stood at $1,040 per ton in 2022, picking up by 15% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 19%. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by the product type; the product with the highest price was folding boxboard ($1,387 per ton), while the price for paperboard case materials ($766 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by paperboard case material (+2.2%), while the other products experienced more modest paces of growth.

Import Prices By Country

In 2022, the average packaging materials import price amounted to $1,040 per ton, growing by 15% against the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 19% against the previous year. Global import price peaked in 2022 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($1,339 per ton), while China ($664 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+3.8%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Packaging Materials

In 2022, overseas shipments of packaging materials decreased by -1.6% to 67M tons for the first time since 2019, thus ending a two-year rising trend. The total export volume increased at an average annual rate of +3.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when exports increased by 12%. The global exports peaked at 68M tons in 2021, and then reduced slightly in the following year.

In value terms, packaging materials exports expanded notably to $68.3B in 2022. The total export value increased at an average annual rate of +4.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when exports increased by 23% against the previous year. Over the period under review, the global exports hit record highs in 2022 and are likely to continue growth in the immediate term.

Exports By Country

In 2022, Germany (8.6M tons), the United States (8.4M tons), Sweden (6.4M tons), Finland (4.4M tons) and China (3.9M tons) was the largest exporter of packaging materials in the world, achieving 47% of total export. The following exporters - France (2.6M tons), Canada (2.1M tons), Austria (2M tons), Poland (2M tons), the Netherlands (1.9M tons), Russia (1.8M tons), Japan (1.5M tons) and Italy (1.5M tons) - together made up 23% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Japan (with a CAGR of +13.6%), while the other global leaders experienced more modest paces of growth.

In value terms, the largest packaging materials supplying countries worldwide were Germany ($8.9B), the United States ($8.4B) and Sweden ($6.3B), together accounting for 35% of global exports. China, Finland, France, Canada, Poland, the Netherlands, Austria, Italy, Russia and Japan lagged somewhat behind, together comprising a further 39%.

In terms of the main exporting countries, China, with a CAGR of +13.0%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Exports By Type

Paperboard case materials was the major exported product with an export of around 34M tons, which amounted to 50% of total exports. Folding boxboard (21M tons) held a 31% share (based on physical terms) of total exports, which put it in second place, followed by wrapping paper, packaging paper and paperboard (15%). Other papers packaging (2.3M tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exported products, was attained by paperboard case materials (with a CAGR of +3.9%), while the other products experienced more modest paces of growth.

In value terms, folding boxboard ($27.4B), paperboard case materials ($24.8B) and wrapping paper, packaging paper and paperboard ($13.9B) were the products with the highest levels of exports in 2022, together accounting for 97% of global exports.

Among the main exported products, paperboard case materials, with a CAGR of +6.6%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other products experienced more modest paces of growth.

Export Prices By Type

In 2022, the average packaging materials export price amounted to $1,018 per ton, with an increase of 13% against the previous year. Over the last decade, it increased at an average annual rate of +1.1%. The growth pace was the most rapid in 2021 an increase of 18%. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by the product type; the product with the highest price was wrapping paper, packaging paper and paperboard ($1,368 per ton), while the average price for exports of paperboard case materials ($736 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by other papers packaging (+2.8%), while the other products experienced more modest paces of growth.

Export Prices By Country

In 2022, the average packaging materials export price amounted to $1,018 per ton, increasing by 13% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. The pace of growth appeared the most rapid in 2021 when the average export price increased by 18% against the previous year. The global export price peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($1,358 per ton), while Russia ($823 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+3.0%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform