Paper Product Manufacturing in the US - Market Research Report (2014-2029)
New York, United States
Last Updated: January 2024
NAICS 32229bRevenue
$6.7bn
Past 5-Year Growth
Profit
$XXX.Xm
Employees
12,974
Businesses
276
Wages
$XXX.Xm
Paper Product Manufacturing in the US industry analysis
Paper product manufacturers convert purchased paper and paperboard into a variety of products, including cigarette papers, playing cards, wrapping paper and paper novelties. Manufacturers also mold purchased pulp into egg cartons, food trays, dishes, florist pots and other products. In recent years, import penetration has increased, forcing manufacturers to compete with lower-cost substitutes. Companies have responded to competition by consolidating operations through merger and acquisition activity. Consolidation can benefit operators by enabling them to better manage volatile costs and fluctuating demand<em>. </em>Large operators can<em> </em>endure pressure on industry profit because they benefit from economies of scale and higher profit. Over the past five years, revenue has grown at a CAGR of 1.6% to $6.7 billion, including an expected decline of 0.5% in 2024. Profit is expected to slump to 4.1% of revenue in 2024 from 5.8% in 2019.
Trends and Insights
- Import levels are increasing, putting pressure on domestic manufacturers. Exports have decreased as the US dollar value has increased, making domestic products more expensive for foreign consumers.
- Consumers ate at home more often during the COVID-19 pandemic, so demand for molded pulp goods for food packaging temporarily increased. Demand for party supplies and accessories declined because of stay-at-home orders.
- Business location is most often based on proximity to raw material sources and shipping ports. The Great Lakes and Western regions both benefit from such proximity to paper and paperboard mills.
- Larger companies are absorbing small operators to expand their reach. By expanding operations, operators can achieve economies of scale and secure key inputs at a faster rate.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 1.6 % over the past five years, to reach an estimated $6.7bn in 2024.
Trends and Insights
Consumers' eco-conscientiousness impacts demand
- Consumer preferences are shifting as they learn more about the environmental effects of disposable products.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to decline over the next five years.
Trends and Insights
An expansion of product offerings will increase operating costs and limit declines in industry revenue
- Manufacturers are expected to adopt more sustainable processes in response to consumers' growing environmental concerns. There will be efforts to increase the use of recycled materials and reduce energy consumption and waste disposal in the production process.
Biggest companies in the Paper Product Manufacturing in the US
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Huhtamaki Group | 1,301.2 | 99.1 | 7.6 | |
Reynolds Group Holdings Inc. | 973.5 | 179.0 | 18.4 | |
The Jim Pattison Group | 80.5 | 3.9 | 4.8 |
To view the market share and analysis for all 5 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Molded pulp goods, Party supplies and holiday goods and accessories and Packaging and paperboard. Molded pulp goods is the largest segment of the Paper Product Manufacturing in the US.
Trends and Insights
Molded pulp goods are considered an ecological alternative to plastic products
- Fast food restaurants, motels and other service establishments use molded pulp food products for transporting food and beverages. These products include egg cartons, florist pots and packaging for various goods.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- There are no industries to display.
Complementors
- Cardboard Box & Container Manufacturing in the US
- Coated & Laminated Paper Manufacturing in the US
- Office Stationery Manufacturing in the US
- Sanitary Paper Product Manufacturing in the US
International industries
- Global Paper & Pulp Mills
- Paper Product Manufacturing in Canada
- Paper Bag and Other Paper Product Manufacturing in Australia
Table of Contents
About this industry
Industry definition
Operators in this industry convert purchased paper and paperboard into a variety of products, including playing cards, wrapping paper, cigarette papers, paper filters, paper novelties, die-cut paper shapes and recycled paper insulation. Industry manufacturers also mold purchased pulp into egg cartons, food trays, cups and dishes, florists’ pots and other products. The industry generally produces all the products that are not included in the other paper-converting industries.
What's included in this industry?
Molding pulp into products (e.g. egg cartons, food trays, cups and plates)Converting purchased paper into cigarette papers, party supplies, insulation and other paper productsConverting purchased paperboard into cards, folders and other paperboard products, excluding office useCompanies
Huhtamaki GroupReynolds Group Holdings Inc.The Jim Pattison GroupPurchase this report to view all 5 major companies in this industry.
Related Terms
PULPCELLULOSE INSULATIONDIE-CUT PAPERMOLDED PULPIndustry Code
NAICS 322299 - Paper Product Manufacturing in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Import levels are increasing, putting pressure on domestic manufacturers. Exports have decreased as the US dollar value has increased, making domestic products more expensive...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Consumers ate at home more often during the COVID-19 pandemic, so demand for molded pulp goods for food packaging temporarily increased. Demand for party supplies and accesso...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2024
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Business location is most often based on proximity to raw material sources and shipping ports. The Great Lakes and Western regions both benefit from such proximity to paper a...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Larger companies are absorbing small operators to expand their reach. By expanding operations, operators can achieve economies of scale and secure key inputs at a faster rate...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Manufacturers are making efforts to streamline production processes to create more environmentally friendly products. For example, major company Huhtamaki Group has implement...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Huhtamaki Group's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Reynolds Group Holdings Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of The Jim Pattison Group's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for 2 additional companies
Detailed analysis
- Description and key data for Huhtamaki Group, and factors influencing its performance in the industry
- Description and key data for Reynolds Group Holdings Inc., and factors influencing its performance in the industry
- Description and key data for The Jim Pattison Group, and factors influencing its performance in the industry
- Description, key data and performance trends for 2 additional companies
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Many environmental protection regulations are put in place to ensure responsible manufacturing practices. These regulations are aimed at reducing air, water and noise polluti...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Some operators cannot manage the costs associated with setting up a new business and securing the necessary financing. Purchase costs are high in the industry due to input pr...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Paper Product Manufacturing in the US industry in United States in 2024?
The market size of the Paper Product Manufacturing in the US industry in United States is $6.7bn in 2024.
How many businesses are there in the Paper Product Manufacturing in the US industry in 2024?
There are 276 businesses in the Paper Product Manufacturing in the US industry in United States, which has declined at a CAGR of 2.4 % between 2019 and 2024.
Has the Paper Product Manufacturing in the US industry in United States grown or declined over the past 5 years?
The market size of the Paper Product Manufacturing in the US industry in United States has been growing at a CAGR of 1.6 % between 2019 and 2024.
What is the forecast growth of the Paper Product Manufacturing in the US industry in United States over the next 5 years?
Over the next five years, the Paper Product Manufacturing in the US industry in United States is expected to decline.
What are the biggest companies in the Paper Product Manufacturing in the US market in United States?
The biggest companies operating in the Paper Product Manufacturing market in United States are Huhtamaki Group, Reynolds Group Holdings Inc. and The Jim Pattison Group
What does the Paper Product Manufacturing in the US in United States include?
Molding pulp into products (e.g. egg cartons, food trays, cups and plates) and Converting purchased paper into cigarette papers, party supplies, insulation and other paper products are part of the Paper Product Manufacturing in the US industry.
Which companies have the highest market share in the Paper Product Manufacturing in the US in United States?
The company holding the most market share in United States is Huhtamaki Group.
How competitive is the Paper Product Manufacturing in the US industry in United States?
The level of competition is high and increasing in the Paper Product Manufacturing in the US industry in United States.
