Asia-Pacific's Non-Corrugated Paper and Paperboard Packaging Market Set to Slowly Expand with +0.6% CAGR from 2024 to 2035 - News and Statistics - IndexBox

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IndexBox has just published a new report: Asia-Pacific - Folding Cartons, Boxes And Cases Of Non-Corrugated Paper Or Paperboard - Market Analysis, Forecast, Size, Trends And Insights.

Driven by increasing demand, the market in Asia-Pacific is expected to see steady growth in both volume and value terms, with a forecasted CAGR of +0.6% and +2.1% respectively from 2024 to 2035. Despite a slight deceleration in market performance, the industry shows promise for expansion and development in the coming years.

Driven by increasing demand for folding cartons, boxes and cases of non-corrugated paper or paperboard in Asia-Pacific, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +0.6% for the period from 2024 to 2035, which is projected to bring the market volume to 23M tons by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.1% for the period from 2024 to 2035, which is projected to bring the market value to $102.1B (in nominal wholesale prices) by the end of 2035.

In 2024, approx. 22M tons of folding cartons, boxes and cases of non-corrugated paper or paperboard were consumed in Asia-Pacific; growing by 2.1% compared with the previous year's figure. The total consumption indicated noticeable growth from 2013 to 2024: its volume increased at an average annual rate of +4.6% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption decreased by -2.7% against 2022 indices. The volume of consumption peaked at 22M tons in 2022; however, from 2023 to 2024, consumption stood at a somewhat lower figure.

The value of the non-corrugated paper box market in Asia-Pacific stood at $81.6B in 2024, growing by 2.1% 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 total consumption indicated a resilient expansion from 2013 to 2024: its value increased at an average annual rate of +5.6% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption decreased by -2.7% against 2022 indices. Over the period under review, the market reached the maximum level at $83.9B in 2022; however, from 2023 to 2024, consumption stood at a somewhat lower figure.

China (9.6M tons) remains the largest non-corrugated paper box consuming country in Asia-Pacific, comprising approx. 45% of total volume. Moreover, non-corrugated paper box consumption in China exceeded the figures recorded by the second-largest consumer, India (3.6M tons), threefold. Indonesia (2M tons) ranked third in terms of total consumption with a 9.5% share.

From 2013 to 2024, the average annual growth rate of volume in China amounted to +4.6%. In the other countries, the average annual rates were as follows: India (+3.5% per year) and Indonesia (+7.5% per year).

In value terms, China ($47.8B) led the market, alone. The second position in the ranking was taken by India ($7.7B). It was followed by Indonesia.

From 2013 to 2024, the average annual rate of growth in terms of value in China amounted to +6.0%. The remaining consuming countries recorded the following average annual rates of market growth: India (+3.6% per year) and Indonesia (+8.6% per year).

The countries with the highest levels of non-corrugated paper box per capita consumption in 2024 were South Korea (12 kg per person), Vietnam (7.7 kg per person) and Indonesia (7.2 kg per person).

From 2013 to 2024, the biggest increases were recorded for Indonesia (with a CAGR of +6.3%), while consumption for the other leaders experienced more modest paces of growth.

In 2024, the amount of folding cartons, boxes and cases of non-corrugated paper or paperboard produced in Asia-Pacific was estimated at 22M tons, with an increase of 2.2% on the previous year. The total production indicated a pronounced increase from 2013 to 2024: its volume increased at an average annual rate of +4.6% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, production decreased by -2.1% against 2022 indices. The most prominent rate of growth was recorded in 2021 when the production volume increased by 15%. The volume of production peaked at 22M tons in 2022; however, from 2023 to 2024, production remained at a lower figure.

In value terms, non-corrugated paper box production stood at $83.7B in 2024 estimated in export price. The total production indicated a strong expansion from 2013 to 2024: its value increased at an average annual rate of +5.9% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, production decreased by -2.7% against 2022 indices. The growth pace was the most rapid in 2021 when the production volume increased by 23% against the previous year. The level of production peaked at $86B in 2022; however, from 2023 to 2024, production stood at a somewhat lower figure.

China (10M tons) constituted the country with the largest volume of non-corrugated paper box production, comprising approx. 46% of total volume. Moreover, non-corrugated paper box production in China exceeded the figures recorded by the second-largest producer, India (3.7M tons), threefold. Indonesia (2M tons) ranked third in terms of total production with a 9.2% share.

From 2013 to 2024, the average annual rate of growth in terms of volume in China amounted to +4.6%. The remaining producing countries recorded the following average annual rates of production growth: India (+3.6% per year) and Indonesia (+7.6% per year).

In 2024, the amount of folding cartons, boxes and cases of non-corrugated paper or paperboard imported in Asia-Pacific declined modestly to 348K tons, approximately mirroring the year before. The total import volume increased at an average annual rate of +1.1% over the period from 2013 to 2024; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2019 when imports increased by 20%. The volume of import peaked at 354K tons in 2021; however, from 2022 to 2024, imports failed to regain momentum.

In value terms, non-corrugated paper box imports shrank to $1.2B in 2024. The total import value increased at an average annual rate of +1.8% from 2013 to 2024; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 23% against the previous year. Over the period under review, imports hit record highs at $1.3B in 2022; however, from 2023 to 2024, imports stood at a somewhat lower figure.

In 2024, Australia (55K tons), followed by India (34K tons), Hong Kong SAR (34K tons), Vietnam (34K tons), Thailand (30K tons), Indonesia (27K tons) and Cambodia (20K tons) were the major importers of folding cartons, boxes and cases of non-corrugated paper or paperboard, together making up 67% of total imports. The following importers - South Korea (15K tons), Taiwan (Chinese) (14K tons) and Japan (13K tons) - each resulted at a 12% share of total imports.

From 2013 to 2024, the biggest increases were recorded for Cambodia (with a CAGR of +29.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest non-corrugated paper box importing markets in Asia-Pacific were Australia ($152M), Vietnam ($151M) and Hong Kong SAR ($110M), with a combined 35% share of total imports. Thailand, India, South Korea, Japan, Indonesia, Taiwan (Chinese) and Cambodia lagged somewhat behind, together accounting for a further 43%.

Among the main importing countries, India, with a CAGR of +23.6%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

The import price in Asia-Pacific stood at $3,423 per ton in 2024, shrinking by -7.4% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the import price increased by 10%. The level of import peaked at $3,698 per ton in 2023, and then reduced in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2024, amid the top importers, the country with the highest price was South Korea ($6,080 per ton), while Cambodia ($1,048 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Australia (+3.0%), while the other leaders experienced more modest paces of growth.

In 2024, exports of folding cartons, boxes and cases of non-corrugated paper or paperboard in Asia-Pacific expanded markedly to 761K tons, with an increase of 5.7% against 2023 figures. The total export volume increased at an average annual rate of +2.5% from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when exports increased by 19%. The volume of export peaked in 2024 and is expected to retain growth in the near future.

In value terms, non-corrugated paper box exports contracted to $2.8B in 2024. Total exports indicated mild growth from 2013 to 2024: its value increased at an average annual rate of +1.7% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, exports decreased by -12.8% against 2022 indices. The growth pace was the most rapid in 2021 when exports increased by 30%. Over the period under review, the exports hit record highs at $3.2B in 2022; however, from 2023 to 2024, the exports failed to regain momentum.

China prevails in exports structure, recording 492K tons, which was approx. 65% of total exports in 2024. Thailand (63K tons) held an 8.3% share (based on physical terms) of total exports, which put it in second place, followed by India (8%) and Australia (4.6%). Vietnam (33K tons), Malaysia (24K tons) and Taiwan (Chinese) (13K tons) followed a long way behind the leaders.

From 2013 to 2024, average annual rates of growth with regard to non-corrugated paper box exports from China stood at +3.4%. At the same time, Australia (+21.9%), India (+12.3%), Vietnam (+7.5%) and Thailand (+4.9%) displayed positive paces of growth. Moreover, Australia emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +21.9% from 2013-2024. Malaysia and Taiwan (Chinese) experienced a relatively flat trend pattern. From 2013 to 2024, the share of China, India, Australia, Thailand and Vietnam increased by +5.4, +5, +3.9, +1.9 and +1.8 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($2.1B) remains the largest non-corrugated paper box supplier in Asia-Pacific, comprising 74% of total exports. The second position in the ranking was taken by Thailand ($248M), with an 8.8% share of total exports. It was followed by India, with a 4.4% share.

From 2013 to 2024, the average annual growth rate of value in China stood at +2.4%. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (+4.3% per year) and India (+12.7% per year).

The export price in Asia-Pacific stood at $3,706 per ton in 2024, with a decrease of -11.5% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the export price increased by 18% against the previous year. The level of export peaked at $4,981 per ton in 2022; however, from 2023 to 2024, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($4,225 per ton), while Australia ($96 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Vietnam (+3.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the non-corrugated paper box market in Asia-Pacific. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

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