The global clay-coated recycled boxboard market is anticipated to grow at a healthy CAGR of 4.7% over the forecast period from 2022 to 2030, reaching a market value of USD 10.5 billion by 2030. This growth is fueled by the booming e-commerce industry and increasing demand from the food and beverage sector. Additionally, clay-coated boxboard is becoming the preferred packaging solution for various FMCG, personal care, and healthcare products.
Core Concepts Clay Coated Recycled Boxboard Industry
- Current Market Worth (2022): The global Clay Coated Recycled Boxboard market is expected to be valued at US$ 7.3 billion.
- Sales Forecast Through 2030: The market is projected to reach US$ 10.5 billion by 2030, expanding at a CAGR of 4.7%.
- Historical CAGR (2014-2021): From 2014 to 2021, the market’s sales expanded at a CAGR of approximately 3.5%.
- Market Share in South and East Asia: South and East Asia collectively hold more than 30% of the market share
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Moreover, consumers are expected to increasingly become conscious regarding food safety, which is again likely to propel the growth of the clay-coated recycled boxboard market over the following decade.
“Advancements in digital printing are encouraging brands to reach a wider audience base, thus, creating remunerative growth opportunities for clay-coated recycled boxboard manufacturers. Leading manufacturers collaborate with local distributors to provide customized solutions to end-user customers.”
Key Takeaways of Clay Coated Recycled Boxboard Market Study
- Clay-coated recycled boxboard market revenue will expand around 1.5X over 2020-2030, attributable to rising adoption of products such as cereal boxes that require graphic printing for enhanced brand reputation.
- Around half of clay-coated recycled boxboard market revenue would be realized by food and beverage packaging applications, owing to increasing demand from the snack packaging industry. Clay-coated recycled boxboard also finds application in consumer goods such as footwear and apparel, and the trend will follow a positive curve in the coming years. Moreover, pharmaceutical packaging applications are reflecting potential growth avenues for clay coated recycled boxboard manufacturers.
- East Asia accounts for nearly a quarter of the global clay coated recycled boxboard market, majorly represented by China. Rising health awareness and high demand for pharmaceutical, beauty, and personal care products fuel the regional market.
- Clay-coated recycled boxboard offers high moisture absorption, lower weight resistance, and better printing quality output than SUK and folding boxboard.
Key players in the clay-coated recycled boxboard market are embracing inorganic expansion strategies such as acquisitions to satiate the demand from wider geographies, whereas, small and medium businesses (SMBs) are strengthening their supply chains to sustain in the market landscape.
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Key Drivers and Market Dynamics:
- E-Commerce Boom:
- The rapid expansion of the e-commerce sector is a significant driver for the clay coated recycled boxboard market. The need for sustainable and sturdy packaging solutions for easy transportation and bulk orders has propelled demand.
- Sustainable Packaging Demand:
- Growing environmental concerns and the shift towards sustainable packaging solutions among retailers and food processors are major factors shaping the market. Multinational cereal companies and global retailers like Kellogg’s and Quaker are increasingly adopting biodegradable packaging materials to reduce environmental impact.
- Ban on Lightweight Plastic Bags:
- The ban on lightweight plastic bags in several countries has driven the demand for eco-friendly alternatives like clay coated recycled boxboard. This rigid paper-based packaging solution is not only eco-friendly but also economical, making it a preferred choice.
- Technological Advancements:
- New advances in the market include the use of advanced graphic printing on clay coated recycled boxboards to attract larger consumer bases. For instance, Smurfit Kappa Group expanded its plant capacity in Brazil for innovative and sustainable packaging by investing USD 33 million in January 2022.
Key Segments Covered in Clay-Coated Recycled Boxboard Industry Research
Clay Coated Recycled Boxboard Market by Material :
- CBR (Clay Coated Board Recycled)
- CBO (Clay Coated Recycled Multi-ply)
Clay Coated Recycled Boxboard Market by End-use :
- Food & Beverages Packaging
- Pharmaceuticals Packaging
- Cosmetics, Personal Care & Homecare Packaging
- Automotive Parts Packaging
- Electrical & Electronics Packaging
- Apparel & Footwear Packaging
- Others (Printing & Publishing, Transportation & Logistics, etc.)
Clay Coated Recycled Boxboard Market by Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa (MEA)
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Clay Coated Recycled Boxboard Market Landscape
The clay coated recycled boxboard market is highly fragmented, with prominent players accounting for below 20% of global revenue. Leading manufacturers such as International Paper Company, Smurfit Kappa, and WestRock are focusing on product development and acquisitions to meet the rising demand from wider geographies.
Moving on, small-scale manufacturers such as GreenPaper will look to increase their production capacities to maintain their market competitiveness. Other noteworthy players in the clay coated recycled boxboard market are Paperworks Industries, Inc., Netpak, Greif, GreenPaper, Strathcona Paper LP, TPC Group Co. Ltd., and Spartan Paperboard Company.
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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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