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Secondary Paper & Paperboard Luxury Packaging Market Research Report—Global Forecast till 2027

Secondary Paper & Paperboard Luxury Packaging Market Research Report: Information, by Material (Paper & Paperborad, Plastic, Metal), by End User (Food & Beverages, Confectionery, Personal Care & Cosmetics, Wines & Spirits, Fashion), and Region - Forecast till 2027

ID: MRFR/PNT/9332-CR | April 2022 | Region: Global | 186 pages

Secondary Paper & Paperboard Luxury Packaging Market Forecast


The global secondary paper & paperboard luxury packaging market is expected to reach USD 6,581.2 million by 2027 and register a CAGR of 6.0% during the forecast period of 2020 to 2027.


Market Overview:


The global market for secondary paper & paperboard luxury packaging is expected to grow at a steady rate during the forecast period. This growth can be attributed to the increasing usage of sustainable and bio-degradable packaging, rapid technological advancements, and the ability to create unique designs, shapes, finishes, and effects, and increasing dependence on e-commerce platforms. However, rising concerns over carbon emissions during manufacturing and changing consumer demands are expected to restrain the growth of the global market during the study period. Nevertheless, the rise in individual spending capacity is expected to create growth opportunities of secondary paper & paperboard luxury packaging market for players during the forecast period.


Impact of COVID-19


The demand for packaging products has declined considerably from the industrial sectors, including food & beverage, confectionery, personal care & cosmetics, wines & spirits, and fashion, owing to the outbreak of the COVID-19 pandemic. The packaging industry witnessed a mixed impact due to the significant changes in brick-and-mortar stores and online businesses attributed to the moving restrictions implied by the government authorities to prevent the further spread of the deadly virus. The packaging manufacturers supply their products for the packaging of various products across end-use industry verticals, such as pharmaceuticals, food & beverages, and automotive, to name a few. Due to the restrictions imposed on manufacturing industries and the slowdown in economic activities, the packaging industry reported a significant downfall in its revenues globally.


Market Dynamics


Drivers


  • Growing use of sustainable and bio-degradable packaging


The invention of plastics to overcome the problems with alternatives, such as wood, glass, paper & paperboard, and metal, boosted their adoption across several end-use verticals, including food & beverage, confectionery, personal care & cosmetics, wines & spirits, and fashion. This, unfortunately, gave rise to a severe problem of pollution and impacted the Earth’s ecosystems on which mankind depends largely. In 2018, the US Environmental Protection Agency (EPA) reported the generation of 14,530 thousand US tons of plastic containers and municipal solid waste. However, only 1,980 thousand US tons was recycled, resulting in 10,090 thousand US tons going into landfills in the same year. This is raising concerns over environmental sustainability and greenhouse gases and resulting in changing climatic conditions.



  • Rapid technological advancements

  • Increasing demand from e-commerce platforms


Restraints


  • Rising concerns over carbon emissions during manufacturing


The essential raw materials for manufacturing secondary paper & paperboards used in luxury packaging are easy to recycle, naturally decomposable, and provide environmental sustainability. However, its raw material, i.e., paper, is mainly obtained by cutting down a large number of trees, leading to deforestation. According to an Ecobahn post, more than 55% of paper/cardboard is manufactured from the wood chips sourced from the trees. Furthermore, the paper & paperboard manufacturing process involves boiling them in water or mixed with chemicals that produce pulp, which, when spread and pressed over large, flat screens, turns into paper. This process requires a lot of water and fuel to boil the water, which adds up to the water and air pollution. Additionally, a rise in carbon emissions, greenhouse gases, and temperature levels has been witnessed an increase across the globe. According to the Cardboard Federation of France estimations, the production process of 1 ton of cardboard releases over 538 kg of carbon dioxide, considering the material sourcing, transportation, manufacturing, and disposal of waste materials. This is raising concerns regarding the use of paper & paperboard for luxury packaging applications. Thus, the rising concerns over carbon emissions during manufacturing are expected to restrict the growth of the global secondary paper & paperboard luxury packaging market during the forecast period.



  • Changing consumer demands


Opportunity


  • Rise in individual spending capacities


The popularity of the online purchasing of consumer goods and appliances, such as consumer durables, high-quality cosmetics, packaged food & beverage, confectionery items, personal care & hygiene, wines & spirits, clothing, apparel, and fashion, is increasing rapidly. This can be primarily attributed to the rising per capita disposable incomes and easy access to credit. Other factors such as rapid urbanization, increased standard of living, and growing demand for luxury items contribute to the demand for consumer goods. Additionally, emerging economies such as Canada, Brazil, Vietnam, India, and the Philippines are growing rapidly with the help of technological advancements and industrialization, increasing employability and skilled jobs. Hence, this enables the individuals to spend on luxury products, expanding the spending capabilities. Thus, the rise in individual spending capacities is expected to present a lucrative growth opportunity for the players operating in the global secondary paper & paperboard luxury packaging market.


Segment Overview:


By Material


  • Paper & Paperboard


In this segment, the paper & paperboard used for secondary luxury packaging is considered. This segment includes paper bags, wrapping, packaging papers, folding cartons and rigid boxes, corrugated boxes, paper-based tubes, tubs, and containers. This type of packaging is used for various applications, which includes food & beverages, perfumes, and wines & spirits.



  • Plastic


In this segment, the plastic used for secondary luxury packaging is considered. This segment includes plastic boxes, trays, bottles, containers, cans, among others. This type of packaging is used for various applications, which includes food & beverages and confectionery.



  • Metal


In this segment, the metal used for secondary luxury packaging is considered. This segment includes metal boxes, containers, thin metal sheets, among others. This type of packaging is used for various applications, which includes food & beverages, confectionery, and perfumes.


By End User


  • Food & Beverages


This segment includes the secondary luxury packaging for food & beverages made of paper or paperboard material. In the food & beverage industry, products such as bags, boxes, cans, cartons, containers are used for packaging various soft drinks, food products, dairy products, dry fruits, and bakery products.



  • Confectionery


This segment includes the secondary luxury packaging for confectionery made using paper or paperboard material. Various products such as bags, boxes, wraps, trays, and containers are used in the packaging of confectionery items such as candy, chocolates, and cupcakes.



  • Personal Care & Cosmetics


This segment includes the secondary luxury packaging for personal care & cosmetics products made using paper or paperboard material. This type of packaging is used in the packaging of personal care & cosmetics items such as beauty products, haircare, skincare, and perfumes.



  • Wines & Spirits


This segment includes the secondary luxury packaging for wines & spirits made using paper or paperboard material. Wines, champagne, and spirits are packaged in boxes and containers.



  • Fashion


This segment includes the secondary luxury packaging for fashion products made using paper or paperboard material. The fashion items such as clothing, wearables, jewelry, and bags are packaged using boxes, trays, and containers, among others.


Regional Analysis


The global secondary paper & paperboard luxury packaging market has been segmented, on the basis of region, into US, Europe, Asia-Pacific, South America, and UAE.


Global Secondary Paper & Paperboard Luxury Packaging Market, By Region, 2020 (% Share)
Global Secondary Paper & Paperboard Luxury Packaging Market, By Region, 2020 (% Share)
US


The US secondary paper & paperboard luxury packaging market is expected to witness robust growth during the forecast period. The region has witnessed increased investments in research & development and a growing focus on incorporating innovation in packaging methods. The region benefits from the presence of tier 1 secondary paper & paperboard luxury packaging manufacturers, such as DS Smith and Amcor. The growth in end use industries such as food & beverages, personal care, and cosmetics is the primary factor that is responsible for the growth of the secondary paper & paperboard luxury packaging market in the region.


Asia-Pacific


The presence of a large number of manufacturing companies in countries such as China, India, and Japan, is the key factor driving the regional market. Furthermore, an increase in attractive secondary luxury packaging solutions is expected to benefit the market growth. Other key factors such as the rising per capita disposable income of the middle-class population are expected to drive the demand for secondary paper & paperboard luxury packaging in Asia-Pacific during the forecast period.


Competitive Landscape


The global secondary paper & paperboard luxury packaging market is characterized by the presence of many global, regional, and local vendors. The regional market is highly competitive, with all the players continually competing to gain a larger market share. High competition and rapid advancements in technology are some of the critical factors that could restrain the market growth. The vendors compete based on cost, product quality, and reliability. Therefore, vendors must provide cost-effective and efficient products to survive and succeed in a competitive market environment.


Key Players


The prominent players in the global secondary paper & paperboard luxury packaging market are Amcor Limited (Europe), HH Deluxe packaging (UK), DS Smith Plc (UK), MW Creative Ltd (UK), Winter & Company AG (Europe), Progress Packaging (Europe), Lucas Luxury Packaging (Europe), and CLP Packaging Solution Inc. (US) among others.


Recent Developments



  • In June 2021, Amcor launched ACT2100 heat seal coating for medical-grade DuPont Tyvek2 and paper packaging applications. This next-generation coating technology delivers enhanced performance features for healthcare applications.

  • In June 2021, Winter & Company AG launched its range of SIMPLY PURE COATED RECYCLABLE PAPERS, which includes CORVON PURE MANO and ECOREL PURE SKIVER. These papers are recyclable and contain more than 50% recycled fibers.

  • In October 2020, the seaweed project is part of the USD 138.070 million Circular Economy R&D program introduced by DC Smith Plc. Under this project, the company will recycle natural fibers, including other innovative natural materials such as straw, hemp, miscanthus, and cotton, and more unusual sources such as the daisy-flowered cup plant and agricultural waste such as cocoa shells or bagasse.


Report Overview


The study covers the existing short-term and long-term market effects, helping decision-makers draft short-term and long-term plans for businesses by region. The report covers major regions in US, Europe, Asia-Pacific, UAE, and South America. The report analyzes market drivers, restraints, opportunities, challenges, and Porter's Five Forces.


Market Segmentation


Global Secondary Paper & Paperboard Luxury Packaging Market, by Material



  • Paper & Paperboard

  • Plastic

  • Metal


Global Secondary Paper & Paperboard Luxury Packaging Market, by End User



  • Food & Beverages

  • Confectionery

  • Personal Care & Cosmetics

  • Wines & Spirits

  • Fashion


Global Secondary Paper & Paperboard Luxury Packaging Market, by Region



  • US

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • Russia

    • Netherlands

    • Rest of Europe



  • Asia-Pacific

    • UAE

    • South America





Report Scope:
Report Attribute/Metric Details
  Market Size   2027: USD 6,581.2 million
  CAGR   6.0%
  Base Year   2020
  Forecast Period   2021-2027
  Historical Data   2018 & 2019
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Material, End User, and Region
  Geographies Covered   US, Europe, Asia-Pacific, UAE, and South America
  Key Vendors   Amcor Limited (Europe), HH Deluxe packaging (UK), DS Smith Plc (UK), MW Creative Ltd (UK), Winter & Company AG (Europe), Progress Packaging (Europe), Lucas Luxury Packaging (Europe), and CLP Packaging Solution Inc. (US)
  Key Market Opportunities   â€¢ Rise in individual spending capacities
  Key Market Drivers   â€¢ Growing use of sustainable and bio-degradable packaging • Rapid technological advancements • Increasing demand from e-commerce platforms


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