From 2013 to 2023, the revenue in the Paperboard Container Manufacturing industry in Canada increased from CAD 4.34 billion to CAD 6.53 billion. The industry experienced significant year-on-year growth in 2014 (15.23%) and 2017 (12.26%). The last two years showed moderate growth rates of 2.06% in 2022 and 2.00% in 2023. The five-year CAGR leading up to 2023 was approximately 1.34%, indicating a deceleration compared to earlier periods. Forecasts suggest continued growth at a five-year CAGR of 1.44% from 2024 to 2028, reaching an estimated CAD 7.15 billion by 2028, reflecting a 7.42% overall growth rate.
Looking ahead:
- Technological advancements in manufacturing processes may increase efficiency and reduce costs.
- Environmental regulations and sustainability trends could drive demand for eco-friendly materials and solutions.
- Market consolidation and strategic mergers may shape industry dynamics.
- Adoption of e-commerce and changes in consumer behavior may influence demand for specific types of paperboard containers.
- Monitoring raw material prices and supply chain disruptions will be crucial for maintaining profitability.