The folding boxboard market is estimated to showcase an opulent growth opportunity by generating a total revenue of US$ 12.2 Billion in 2022 and is projected to reach US$ 20.3 Billion by 2032, at a CAGR of 5.2% from 2022 to 2032.
The study conducted by Future Market Insights estimates that the 201-300 GSM and 301-350 GSM basis weights segments of the folding boxboard market are estimated to cumulatively account for around 65% of market share in 2022 and the market valuation of these segments is projected to expand at a CAGR of 4.5% and 5.3% respectively during the forecast period 2022-32.
The market for folding boxboard is expected to surge by 50 basis share points (BPS) in H1-2022 (O) against comparison with H1-2021, according to an FMI analysis. However, when comparing the H1-2022 projected and H1-2022 outlook period, a rise in BPS change by 20 BPS has been noticed. Key reasons for the increase in the market are due to lightweight, solid, reliable, cheap, and effective packaging.
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Key Takeaways
- Some of the recent market advancements have taken place in the folding boxboard market such as the development of lighter folding boxboards without sacrificing strength properties which saves raw material costs. Attributing to such factors, the folding boxboard market is expected to showcase opulent growth opportunities.
- Furthermore, surging public awareness of the benefits of eco-friendly packaging and a widespread application of folding boxboard in every industry is further expected to drive market growth.
- The escalating demand for flexible packaging paper solutions across the globe is driving the growth of the folding boxboard market as per FMI projections. The global folding boxboard market is anticipated to expand at a prolific 5.2% CAGR between the forecast period of 2022 and 2032, in comparison to the CAGR of 4.7% registered between the period 2015 and 2021.
- The rising consumer shift towards paper packaging products is increasing day by day owing to the environmental friendly characteristics of paper material. In several countries, NGOs and governments are taking initiatives to educate people to eliminate the use of plastic packaging products. This has created a positive impact on the global demand for paper-based packaging products.
- In most developing countries, regional governments have staunchly banned the use of plastic bags for retail use which contributes majorly to the pollution of metropolitan cities. Consumers in these big cities are positively supporting the no plastic movement and adopting paper-based packaging products over plastic packaging products.
- Paper packaging comes with several benefits such as it offers optimum protection and is economical due to which they drastically become the first preference for packaging bulk goods in a variety of industries including electrical and electronics, processed food, etc. The ever-growing popularity of paper packaging products is anticipated to drive the folding boxboard market.
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Competitive Landscape
Mondi Group plc, Kotkamills Oy., International Forest Products LLC, Mayr-Melnhof Karton AG, Metsä Board Corp., Nippon Paper Industries Co., Ltd., SAPPI Ltd., Stora Enso Oyj., Dordan Manufacturing Company, PG Paper Company, Iggesund Paperboard, Maxipos, Kartonfabrik Buchmann GmbH, Shandong Bohui Paper Industrial Co., Ltd., Hangzhou Gerson Paper Co., Ltd. are some of the key companies profiled in the full version of the report.
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.
More Insights into Folding Boxboard Market
The South Asian region is expected to dominate the folding boxboard market. India is the largest market for folding boxboards and is anticipated to account for 47% of the market share in 2022. According to Invest India, a National Investment and Facilitation Agency, the pharmaceutical industry in India is estimated to reach US$ 65 Bn by 2024 at a growth rate of 10 to 12% year over year.
The healthcare and pharmaceutical industry is one of the major end-use industries of the folding boxboard market and the industry is anticipated to raise the demand for the target product in India at a robust rate.
In the Europe region, Germany is expected to account for around 28% market share of the folding boxboard market by the end of 2022, which is the largest among other European countries.
According to the Federation of German Food and Drinks Industries (BVE), the German food & beverage industry was predicted to be the fourth-largest industry and the total industry revenue accounted for a total of EUR 185.3 Bn (~US$ 208 Bn) in the year 2019.
Folding Boxboard Market by Category
By Basis Weight:
- Up to 200 GSM
- 201 – 300 GSM
- 301 – 350 GSM
- Above 350 GSM
By Material Type:
- Uncoated Paperboard
- Coated Virgin Paperboard
- Recycled Paperboard
By End Use:
- Food & Beverage
- Pharmaceutical
- Cosmetics & Personal Care
- Automotive
- Electrical & Electronics
- Transportation & Logistics
- Others (Homecare, etc.)
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa (MEA)
About Future Market Insights Inc. (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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