by The South Korea paper packaging market consists of a wide range of products that are used for packaging purposes across various end-use industries such as food, beverages, personal care, home care, healthcare, and others. Paper packaging offers cost-effectiveness as well as sustainability by being recyclable. The key products in the South Korea paper packaging market include corrugated boxes, cartons, wrapping paper, paper bags, and pouches. Paper packaging is easy to design and print, provides moisture & gas barrier properties, and has high durability during transport.
The South Korea Paper Packaging Market Size Is Estimated To Be Valued At US$ 14.04 Bn In 2024 And Is Expected To Exhibit A CAGR Of 3.3% Over The Forecast Period 2024 To 2031.
Key Takeaways
Key players operating in the South Korea paper packaging are Orchids Paper Products Company, Dong Bang Co., Ltd. Boryung Packaging Co., Ltd. Daejoo Paper Co., Ltd. Daesang Corporation Samhwa Paper Co., Ltd.Hansol Paper Co., Ltd.SKC Packaging Co., Ltd. Shin Myung Paper MFG Co., Ltd. And Sungwon Adpia Co., Ltd. The key players are focusing on developing innovative and sustainable paper packaging solutions to cater to the growing demand.
The growing demand for packaged food & beverages owing to changing lifestyles and increasing disposable income is driving the growth of the South Korea paper packaging market. Paper packaging offers excellent printability and graphics that help companies to showcase their brands efficiently.
Asia Pacific region is expected to witness the fastest growth in the paper packaging market owing to growing industries, urbanization, and increasing focus of manufacturers to expand their operations in emerging economies of South Korea, India, Indonesia, and Vietnam.
Market Key Trends
One of the major trends in the South Korea paper packaging market is growing emphasis on sustainable packaging. Paper packaging is renewable and recyclable. It has a lower carbon footprint as compared to plastic packaging. Many companies are opting for paper packaging made from recycled content or sustainably sourced raw materials to contribute towards waste reduction and environment protection. The increasing awareness about green packaging among customers is further fueling the demand for paper packaging in the country.
Porter’s Analysis
Threat Of New Entrants: Low barriers to entry as paper packaging technology is widely available but high capital requirement for setting up manufacturing facility.
Bargaining Power Of Buyers: Medium bargaining power as buyers have substitutes available but paper packaging has benefit of sustainability.
Bargaining Power Of Suppliers: High bargaining power of raw material suppliers like paper, adhesive and plastic suppliers as supply of raw materials concentrated among few large players.
Threat Of New Substitutes: Medium threat from biodegradable plastic packaging and flexible packaging substitutes but paper packaging has advantages in terms sustainability and reuse.
Competitive Rivalry: High competition due to large number of players targeting food, pharmaceutical and consumer goods packaging segments.
Geographical Regions With High Market Value Concentration
The South Korea paper packaging market is concentrated in Seoul metropolitan area which includes Seoul city and surrounding Gyeonggi province. This region accounts for over 50% of the country’s GDP and population. Most food, pharmaceutical and consumer goods companies operating in South Korea are headquartered in this region thereby generating high demand for paper packaging.
Fastest Growing Region
Busan metropolitan city located in southeastern South Korea has emerged as the fastest growing region for paper packaging demand. The port city is a hub for trade and manufacturing activities. Many industrial parks located around Busan focus on automotive, shipbuilding and electronics manufacturing. Growth of these industries is driving the need for secure, sustainable paper packaging solutions in Busan region.
What are the key data covered in this South Korea Paper Packaging Market report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the South Korea Paper Packaging Market’s growth between 2024 and 2031.
:- Accurate calculation of the size of the South Korea Paper Packaging Market and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behavior
:- South Korea Paper Packaging Market Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of South Korea Paper Packaging Market vendors
FAQ’s
Q.1 What are the main factors influencing the South Korea Paper Packaging market?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top South Korea Paper Packaging Market companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the South Korea Paper Packaging market’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
- Source: CoherentMI, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
