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Pulp and Paper Market to Reach $370.12 Billion by 2028; Growing Demand for Ecofriendly Packaging Material to Promote Market Growth

November 23, 2021 | Chemicals & Materials

The global pulp and paper market size is anticipated to witness stellar growth be reaching USD 370.12 billion by 2028. Fortune Business Insights™, in its report, titled, “Pulp and Paper Market Size, Share & COVID-19 Impact Analysis, By Category (Wrapping & Packaging, Printing & Writing, Sanitary, News Print, and Others), and Regional Forecast, 2021-2028”, observes that market size stood at USD 349.18 billion in 2020 and USD 351.51 billion in 2021. It is further expected to exhibit a CAGR of 0.74% between 2021 and 2028. The increasing environmental concerns augment the demand for eco-friendly packaging, and the expanding demand for eco-friendly packaging is likely to boost the market’s growth.

Smurfit Kappa Group to Acquire Burgo Group’s Containerboard Business

In August 2021, Smurfit Kappa Group, a leader in paper-based packaging solutions, announced its plan to acquire Burgo Group’s containerboard business for 360 million euros. The payment will be made full in-cash and the company aims to optimize its production and increase consumer outreach across Southern Europe and the associated markets with this acquisition. The acquisition will strengthen the unique integrated operating model of the group and also reflect additional security of supply for the company’s consumer base.

To get a detailed report summary and research scope of this market, click here:


Expanding Online Retail to Stimulate Market Growth

Paper is an exemplary recyclable and sustainable packaging material, and advanced paper packaging solutions are likely to benefit the market. The growing environmental concerns have compelled consumers and manufacturers to adopt sustainable paper packaging solutions. The sustainable packaging solutions are highly favored by the e-commerce industry. It helps them to portray environmental consciousness. The growing number of smartphone users and the swift internet penetration surge online retailing across developing nations such as India, China, Brazil, and others.

The India Brand Equity Foundation estimates that there will be around 220 million online shoppers by 2025. This boosts the growth of the e-commerce sector and also the demand for pulp and paper for packaging. Hence, the swift growth of online retail across developing nations is expected to bolster the global pulp and paper market growth.

Key Players Adopt Inorganic Strategies to Garner Growth

The key players are focused on efficiently utilizing the resources to satisfy consumer demand. They are highly invested in R&D activities to develop sustainable packaging products. The key players operating in the market primarily emphasize organic growth strategies such as launching new products. They also focus on inorganic growth strategies such as partnerships, mergers, acquisitions, collaborations, and others. For instance, Mondi Group invested 125 million in its paper mill in Kuopio, Finland, in June 2021. The investment is aimed to upgrade and increase the plant’s capacity by 55 kilotons.

Industry Developments-

  • August 2021: Smurfit Kappa Group announced its plans to acquire Burgo Group’s containerboard business for 360 million euros. The company aims to optimize its production and increase consumer outreach across Southern Europe and the associated markets.

Key Players in the Global Market are:

  • International Paper (Tennessee, U.S.)

  • Georgia-Pacific Corporation (Georgia, U.S.)

  • Nine Dragon Paper (Holdings) Ltd. (Hong Kong)

  • Stora Enso Oyj (Helsinki, Finland)

  • Sappi Limited (Johanessburg, South Africa)

  • Kimberly-Clark Corporation (Texas, U.S.)

  • UPM-Kymmene Oyj (Helsinki, Finland)

  • Svenska Cellulosa Aktiebolaget (SCA) (Sundsvall, Sweden)

  • Oji Holding Corporation (Tokyo, Japan)

  • Nippon Paper Industries Co., Ltd. (Tokyo, Japan)

  • The Smurfit Kappa Group (Dublin, Ireland)

  • WestRock (Georgia, U.S.)

Further Report Findings-

  • The market size in Asia Pacific stood at USD 173.26 billion in 2020 and is expected to emerge dominant in the global pulp and paper market share due to the enormous production and consumption of pulp and paper. The growing demand for paper-based commodities and the improving living standards in Malaysia, Indonesia, and Vietnam are likely to create lucrative growth opportunities for the market.

  • Additionally, China leads the production and consumption of pulp and paper globally. This is likely to bolster the market growth significantly in Asia Pacific.

  • According to the segmentation based on category, the wrapping & packaging segment is expected to witness the highest growth in the global market. The rising adoption of paper-based packaging materials, and the increased demand for wrapping and packaging by the expanding online retail and e-commerce industries are anticipated to amplify the segment’s growth.

Table of Segmentation:



Study Period


Base Year


Forecast Period


Historical Period



  Value (USD Billion); Volume (Million Tons)


  By Category and By Geography

By Category


  • Wrapping & Packaging

  • Printing & Writing

  • Sanitary

  • News Print

  • Others

By Geography


  • North America (By Category, By Country)

    • U.S. (By Category)

    • Canada (By Category)

  • Europe (By Category, By Country)

    • Germany (By Category)

    • U.K. (By Category)

    • France (By Category)

    • Russia (By Category)

    • Rest of Europe (By Category)

  • Asia Pacific (By Category, By Country)

    • China (By Category)

    • India (By Category)

    • Japan (By Category)

    • South Korea (By Category)

    • ASEAN (By Category)

    • Rest of Asia Pacific (By Category)

  • Latin America (By Category, By Country)

    • Brazil (By Category)

    • Mexico (By Category)

    • Rest of Latin America (By Category)

  • Middle East & Africa (By Category, By Country)

    • GCC (By Category)

    • Rest of the Middle East (By Category)

    • Africa (By Category)

Global Pulp and Paper Market
  • PDF
  • 2020
  • 2017-2019
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