Over the past decade, the packaging paper turnover in Finland has experienced notable variations. Initially, from 2013 to 2014, the market saw a modest growth followed by a significant decline from 2015 to 2017, which continued albeit at a slower pace until 2018. The turnover slightly rebounded in 2019 with marginal growth and stabilized through to 2023. As of 2023, the packaging paper turnover stood at 333.7 million Euros.
The year-on-year variations illustrate a fluctuating pattern with significant reductions in earlier years and modest decreases or stagnation in more recent years. Specifically, the last two years reflected marginal decreases of -0.27% in 2022 and -0.24% in 2023. The compound annual growth rate (CAGR) over the preceding five years indicated a stabilization trend at 1.17%.
Looking ahead, projections from 2024 to 2028 anticipate a slight decline in the packaging paper turnover with a forecasted CAGR of -0.09% and an overall reduction of -0.45% over the period, indicating a steady but very marginal decline. Thus, the market is expected to remain relatively stable but with a slight downward trend in turnover.
Future trends to watch for include potential advancements in packaging technology, changes in consumer preferences towards sustainable packaging solutions, and the impact of economic conditions on the demand for packaging paper. Additionally, regulatory changes and environmental concerns could play crucial roles in shaping the market dynamics.