The folding boxboard market is set for substantial growth, with projected total revenues of US$12.2 billion in 2022 and an additional US$20.3 billion expected between 2022 and 2032, at a CAGR of 5.2%.
The segments of 201-300 GSM and 301-350 GSM are expected to collectively account for around 65% of the market share in 2022, with projected CAGRs of 4.5% and 5.3%, respectively, from 2022 to 2032.
Notably, the market is witnessing a 50 basis share points (BPS) increase in the first half of 2022 compared to the same period in 2021, with a 20 BPS rise in the BPS change between the expected and outlook periods for H1-2022. This growth is attributed to the rising demand for small, reliable, affordable, and efficient packaging solutions.
The surge in e-commerce activities has significantly contributed to the expansion of the folding boxboard market. As online sales increase, there is a higher demand for packaging materials that can effectively protect goods during transportation and handling. Folding boxboard, with its strength, durability, and customization capabilities, is well-suited for e-commerce packaging, accommodating various product shapes and sizes to meet diverse packaging requirements.
In summary, the folding boxboard market is expected to witness substantial growth due to increasing revenues, specific basis weight segment dominance, demand for small and efficient packaging solutions, and the growth of e-commerce activities. These trends indicate a positive outlook for the folding boxboard industry in the years to come.
Furthermore, North America and Europe are expected to lead the folding boxboard market, driven by the significant demand for environmentally friendly packaging options. However, the Asia-Pacific region is also projected to experience substantial growth, fueled by the increasing adoption of e-commerce and the demand for high-quality packaging solutions.
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Key takeaways from the folding boxboard market study include:
- Recent advancements in the folding boxboard market, such as the development of lighter boards without compromising strength properties, are creating growth opportunities.
- Growing public awareness of the benefits of eco-friendly packaging and widespread adoption of folding boxboard across industries are expected to drive market growth.
- The demand for flexible packaging paper solutions worldwide is fueling the growth of the folding boxboard market, projected to grow at a CAGR of 5.2% between 2022 and 2032.
- The shift towards paper packaging products due to their environmentally friendly characteristics and government initiatives to reduce plastic usage are positively impacting the global demand for paper-based packaging.
- Paper packaging offers optimum protection and cost-effectiveness, making it a preferred choice for packaging bulk goods in various industries, contributing to the growth of the folding boxboard market.
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Competitive Landscape
Leading folding boxboard manufacturers are launching new and innovative folding boxboard solutions targeted for specific applications in the food & beverage, pharmaceutical and electrical & electronics end uses. Key players in the folding boxboard market are also taking steps like increasing investments to expand their manufacturing capabilities and geographical footprint to enhance their market share and global presence.
For instance, in February 2021, Mayr-Melnhof Karton AG announced its agreement to acquire Poland based Kwidzyn mill from International Paper for expansion of virgin fiber-based carton board product portfolio.
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In May 2020, Metsä Board Corp. announced the expansion of its folding boxboard product portfolio with launch of MetsäBoard Pro FBB OBAfree, MetsäBoard Prime FBB EB eco-barrier paperboard and MetsäBoard Natural FBB uncoated folding boxboard.
The following players hold a significant share in the global Folding Boxboard market
The writer will create content on the general strategies of market players. And then will write the key players in the market are:
International Paper Co., ITC Limited, Kotkamills Oy., Mayr-Melnhof Karton AG, Metsä Board Corp., Mondi Group plc, Nippon Paper Industries Co., Ltd., SAPPI Ltd., Shandong Bohui Paper Industrial Co., Ltd. and Stora Enso Oyj.
Key Benefits for Folding Boxboard Market:
- Porter’s five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
- Major countries in each region have been mapped according to their individual revenue contribution to the global/regional market.
- It outlines the current trends and future scenario of the market from 2022 to 2032 to understand the prevailing opportunities and potential investment pockets.
- The profiles of key players along with their key strategic developments are enlisted in the report.
- The key drivers, restraints, and opportunities and their detailed impact analyses are elucidated in the study.
Segmentation
The report provides insights on the important highlights and current trends prevailing in the market. This helps the readers to gain a deeper understanding and form an unbiased opinion on the market. Numerous segmentations have been provided for this market based on:
Material
- Pulp Based
- Bleached Chemical
- Recovered Paper
- Other Materials
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Application Type
- Higher end and General Packaging
- Healthcare
- Cosmetics
- Greeting Cards
- Other Applications
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