The Saudi Arabian paper and paperboard packaging market was valued at US 2044. 8 million in 2021, and it is expected to reach USD 2625. 2 million by 2027, registering a CAGR of 4. 31% during the period 2022-2027.
New York, May 03, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Saudi Arabia Paper and Paperboard Packaging Market - Growth, Trends, Covid-19 Impact and forecast (2022 - 2027)" - https://www.reportlinker.com/p06106058/?utm_source=GNW Key Highlights The primary reasons to switch to this market are the rising focus on sustainability and an increasing ban on single-use plastic packaging over other packaging solutions. As a result, the rising demand for customer-friendly packages and heightened product protection is expected to encourage paper and paperboard packaging as a viable and cost-effective solution in Saudi Arabia. Further, Saudi Arabia is one of the largest markets for the packaging industry in the Middle Eastern region. The country has a vast consumer base and a wide range of industrial activities (apart from the oil and gas sector), adding to the country’s rapid growth in demand for paper and paperboard packaging. ? The retail market in the country is witnessing significant growth, thus driving Retail ready packaging(RRP). According to the United States Department of Agriculture(USDA), Saudi packaged food retail sales in 2021 were more than USD 20 billion. In addition, the RRP has become one of the significant areas of change in retailing as retailers are constantly on the lookout for ways of improving efficiency and on-shelf availability. While corrugated packaging had previously dominated the retail-ready packaging (RRP), the need for a reduction in the size may offer more significant opportunities to the folding carton packaging format, driving the market growth. The outbreak of COVID-19 infused the shutting down of most of the manufacturing plants due to lockdowns, resulting in the Saudi Arabian paper and paperboard packaging market witnessing a decline in growth during the initial months of the outbreak. The pandemic had also disrupted the global trade and supply chains of non-essential essential services and goods. Moreover, the growing demand for milk and milk-based products also augments the studied market growth as most of them are packaged in liquid beverage cartons in the KSA region. According to AHDB reports published In May 2021, Saudi Arabia is the largest Dairy consumption market in GCC, benching more than 62 dairy farms milking around 100,000 cows daily. Its major players, namely Almarai and Al Safi Danone, control more than 60% of the dairy market, while Nadec and Nada control nearly 25% of the market while the others must fight for a share of the remaining 10-15%. Key Market Trends Folding Cartons to Lead the Market Growth With the focus of shifting towards eco-friendly and sustainability, folding carton demand has been increasing across various industries like food and beverage, healthcare, personal care, homecare, retail, and others in Saudi Arabia. Consumer consciousness of sustainable packaging preference, availability of raw material, lightweight, biodegradable, and recyclable nature of paper, and deforestation have driven the demand for this packaging type in the region. The region has a high rate of packaged food and beverage consumption due to rapid urbanization and an increasing number of tourists who often prefer safer processed foods. Furthermore, with the rising number of single households requiring more takeaway and delivery food services, the market requirement in the foodservice sector has been reshaped, driving the growth of the studied market in the country. Also, recycling demand will further push paper use as a packaging material, with consumers and businesses looking for solutions that help reduce cost reduction and keep the environment safe while keeping government regulations intact. In February 2021, a new initiative launched by packaging giant Tetra Pak was expected to raise awareness to understand the importance of recycling by collecting used folding carton packages and recycling them. Such initiatives pave the way for Saudi Arabia’s community to use recyclable materials such as cartons better, thereby providing significant scope for growth. Many software suppliers for the label and packaging in the region extend their MIS with a complete and scalable end-to-end option for converters in the folding carton. For instance, in September 2021, Cerm, a global software supplier for the label and packaging market, extended its MIS with a complete and scalable end-to-end option for converters in the folding carton and rigid boxes space in the region. According to the company, Cerm’s MIS increases the productivity of packaging converters to focus on the technical packaging production process and the specific interfaces to partners within this branch of the printing industry. Also, several cosmetic products in the region are being packed in folding cartons. The rising consumer awareness toward eco-friendly and cost-effective options increased the demand for folding cartons for face creams, lipsticks, perfumes, deodorants, moisturizers, etc. Food and Beverages Vertical to Hold the Maximum Share Saudi Arabian consumers are increasingly becoming aware of choosing food and beverages, as their demand for new products is growing with a strong focus on health. Online shopping of foods, combined with the growing proliferation of food delivery services, is expected to drive the demand for sacks, kraft papers, folding cartons, and liquid cartons. According to the Saudi Arabian General Authority for Investment (SAGIA) forecasts, the spending on food services was expected to grow by 6% per annum by 2021. In addition to this, the country’s beverage industry is also growing fast. Liquid carton packaging deals with dairy products and other products, including juice and water. For instance, Al Rabie, one of the most prominent beverage vendors in the country, has about 97% of its cartons that come from Tetra Pak. As a result, the need for corrugated packaging for food and drinks in the nation has soared. Flutes, or wavy layers of paper in the center of a board that provides strength, stiffness, and stackability, are available in corrugated boxes. The range of these flutes is from A to F. The C type is the most commonly used type of flute, as it provides superior crush resistance, printing surface, and compression qualities to protect objects such as glassware and food products. To satisfy these needs, Gulf Carton Factory offers corrugated boxes in sizes ranging from A to F and flute combinations, like BC and EB.? Along with the government, consumers are looking to opt for products from home-grown brands, and such companies are doing significantly well in the country. For instance, in April 2021, Almunajem Foods, one of the largest private food companies in the country, reported a successful 2020, and it maintained a positive outlook for 2021, despite the effects of the pandemic. The company serves more than 22,000 customer outlets, including retail, food services, and wholesale channels. Competitive Landscape The Saudi Arabian paper and paperboard packaging market has a moderately-high competitive rivalry, which is expected to increase in the forecasted period. Significant players include Obeikan Investment Group, Gulf Carton Factory Company, and Eastern Pak Limited. May 2021 - The Eastern Pak Limited joined with local company Kudu, a pioneer of food transformation in Saudi Arabia, to develop a new and sustainable product, “Kudu Breakfast Box.” May 2021 - Goldenline Factory, a provider of the converter of folding carton packaging in Saudi Arabia, continued to expand its capabilities with its range of Bobst equipment, including a new Bobst Expertfold 110 A2 Folder Gluer fitted with Accubraille for efficient and precise in-line Braille application. This folder gluer enables Goldenline Factory to produce cartons in a wide range of designs and materials at high speed of up to 450m per min. Additional Benefits: The market estimate (ME) sheet in Excel format 3 months of analyst support Read the full report: https://www.reportlinker.com/p06106058/?utm_source=GNW About Reportlinker ReportLinker is an award-winning market research solution. 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