Japan Paper & Paperboard Packaging Market Outlook

According to a report published by global market insights inc, the japan paper and paperboard packaging market is estimated to rise at a compound annual growth rate of 4.7% over the forecast period 2018 to 2032. it is expected to reach a revenue opportunity of 26 billion usd in 2032. the rising level of innovation and advancements in consumer oriented packaging are the major factors driving the growth of the japan paper and paperboard packaging market in the upcoming years. the increasing disposable income of japanese customers is also increasing the demand for stylish and convenient packaging products. furthermore, increasing government efforts towards environmental sustainability is further pushing the manufacturers to develop products which have high recyclability. in terms of material, the corrugated segment is expected to reach 2.5 billion usd by 2032 which is attributed to its lightweight, cost effective, and safe features. the kraft segment is also expected to witness robust growth in the upcoming years as kraft paper has a high demand due to its durability and stiffness. in terms of application, personal care products segment is projected to be the fastest growing segment in the japan paper and paperboard packaging market over the forecast period. this is mainly due to the increase in the number of people adopting personal grooming products. the food and beverage segment is also anticipated to witness significant growth due to the increasing demand for convenient packaging. the leading players in the japan paper and paperboard packaging market includes jason packaging inc, nippon paper group inc, oji holdings corporation, and nippon paper industries co. these players are focusing more on product innovation and development of new technologies in order to enhance competitiveness. strategic partnerships, collaborations, and mergers and acquisitions are also expected to boost their market share.