The solid board packaging market is positioned for significant expansion, with a predicted 2.5% Compound Annual Growth Rate (CAGR) throughout the course of the projection year. The market size is projected to grow from its estimated US$ 9.4 billion in 2024 to US$ 12.1 billion by 2034.
Advancements in the solid board market continue to evolve, with innovations like smart folding techniques making it easier to handle these sturdy materials. There’s a noticeable rise in demand for solid board packaging solutions due to their eco-friendly nature and recyclability. Especially attractive is the ability to print directly onto solid boards, enhancing the aesthetic appeal of packaging, which is particularly appealing to the food and beverage industry.
One of the significant advantages of solid board packaging is its logistical efficiency; being lightweight, it supports easier transportation and handling, prompting more manufacturers to opt for solid board solutions.
The booming eCommerce sector plays a pivotal role in the packaging industry, where high-quality packaging is essential for protecting goods during transit and enhancing customer satisfaction. Brands are increasingly focusing on packaging design as a way to create unique consumer experiences and bolster their brand image. Studies indicate that consumers are more likely to remain loyal to brands that offer premium packaging experiences.
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Key Trends Driving Solid Board Industry Growth:
- Continuous Technological Advancements: The solid board market continues to evolve with innovations such as smart folding methods, facilitating easier handling of solid boards, and enhancing packaging efficiency.
- Rising Demand for Eco-Friendly Solutions: Solid board packaging solutions are gaining traction due to their eco-friendly and recyclable nature. The integration of printing technology with solid boards enhances packaging aesthetics, particularly in the food and beverage industry.
- Logistical Advantages: The lightweight nature of solid boards makes them advantageous for manufacturers, promoting their adoption in packaging solutions across various industries.
- Expanding eCommerce Sector: The exponential growth of online shopping underscores the need for quality packaging solutions. Brands are investing in premium packaging designs to enhance consumer experiences and reinforce brand value.
- Popularity of Printed Solid Boards: Leading brands across industries are leveraging printed solid boards to differentiate their products and add brand value, reflecting the increasing consumer preference for premium packaging.
- Sturdiness and Moisture Resistance: Solid board packaging offers superior sturdiness and rigidity, making it ideal for protecting fragile or heavier products during storage and transportation. Moisture-resistant treatments further enhance their versatility, particularly in packaging food and beverage items susceptible to moisture damage.
- Rising Demand for Sustainable Solutions: With growing awareness of environmental impact, consumers and businesses are favoring packaging materials like solid board, composed of recycled paper fibers and fully capable of meeting sustainable packaging needs.
Business Growth Opportunites:
- Expansion in E-commerce Packaging: With the rise of online shopping, there’s a growing demand for sturdy and sustainable packaging solutions, driving opportunities for solid board market growth.
- Sustainable Packaging Solutions: As environmental concerns escalate, the demand for eco-friendly packaging materials like solid board is increasing, presenting a significant growth opportunity in the market.
- Innovation in Product Design: Continuous innovation in solid board product design, including enhanced durability and customization options, can attract new customers and expand market share.
- Penetration in Emerging Markets: Untapped markets in developing regions offer opportunities for solid board manufacturers to expand their presence and cater to the rising demand for packaging solutions.
- Collaborations and Partnerships: Collaborating with retailers and e-commerce platforms to provide tailored solid board packaging solutions can open up new avenues for market growth and customer acquisition.
Key Insights:
- Solid board made from virgin paper holds more than half of the total market share among all segments by material type in the global solid board market, as this type can be easily be cut and is suitable for printing. This segment is estimated to expand 1.2X its current value by 2023.
- As per FMI analysis, the boxes segment is identified as the most preferred application of solid boards for packaging, as consumers are concerned about the environmental impact of packaging waste.
- The food & beverage industry is projected to remain the key consumer for players in the solid board market during the forecast period, and is expected to grow by 1.5X its current value by 2029. Increased consumption of food & beverages such as fresh produce and frozen food in developed countries is anticipated to accelerate the demand for solid boards during the forecast period.
Key Players in Solid Board Market:
- International Paper Company
- Mayr-Melnhof Karton AG
- Smurfit Kappa Group Plc
- Mondi Group
- DS Smith Packaging Limited
- Georgia Pacific LLC
- WestRock Company
- Rengo Co.Ltd
- Stora Enso
- Billerudkorsnas AB
- Others
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Solid Board Market By Category
By Material Type:
- Recycled Paper
- Virgin Paper
By Weight:
- Upto 200 GSM
- 201-300 GSM
- 301-500 GSM
- Above 500 GSM
By Application:
- Boxes
- POP Display
- Edge Protectors
- Trays
- Layer Pads
By End Use Industry:
- Electrical & Electronics
- Health care & Pharmaceuticals
- Cosmetics & Personal care
- Food & Beverages
- Confectionery
- Fresh Produce
- Milk & Dairy
- Frozen Food
- Meat & Poultry
- Other Industrial Packaging
- Building & Construction
- Tobacco Packaging
About Future Market Insights (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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