The global folding boxboard market is set for significant growth, with estimated sales reaching USD 10,551.6 million in 2024 and projected to soar to USD 16,628.8 million by 2034. This expansion represents a robust Compound Annual Growth Rate (CAGR) of 4.7% over the forecast period from 2024 to 2034. The industry, which generated USD 10.1 billion in revenue in 2023, is expected to exhibit a Year-over-Year (Y-o-Y) growth of 3.8% in 2024.
Pulp-based folding boxboards are leading the market, driven by their superior quality and performance characteristics. These boxboards, crafted from virgin fibers, ensure consistent and uniform properties, making them a preferred choice across various industries.
The durability, rigidity, and strength of pulp-based folding boxboards enable them to withstand the rigors of transportation and shipping, ensuring that products remain protected throughout the supply chain. In 2024, pulp-based boxboards are anticipated to hold nearly 55% of the market share, with their market value expected to expand 1.5 times during the upcoming period.
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Eco-Consciousness Drives Surge in Sales of Folding Boxboards as Environmental Benefits Gain Prominence
As global eco-consciousness grows, the demand for sustainable packaging solutions, such as folding boxboards, is experiencing a significant surge. The increasing awareness of environmental issues associated with plastic use is leading consumers and businesses alike to shift toward adopting eco-friendly and safe packaging alternatives.
The packaging industry is a major consumer of plastic, utilizing more than one-third of the plastic material produced worldwide. This reliance on plastic underscores the urgent need for the industry to embrace paper and paperboard materials as a critical measure to mitigate pollution and environmental degradation.
Key Takeaways
- Germany is projected to hold around 22% of the global folding boxboard market share by the end of 2024.
- The pharmaceutical industry in India is forecasted to reach USD 65 billion by 2024 and is expected to double to USD 130 billion by 2030.
- The United Kingdom leads Europe in the folding boxboard market and is anticipated to capture around 13% of the global market value.
- In the United States, the folding boxboard market is expected to reach a valuation of USD 394.5 million by 2024.
- The total global industry revenue for the folding boxboard market was recorded at USD 198 billion in 2022.
- The market generated USD 10.1 billion in revenue in 2023, with an anticipated Y-o-Y growth of 3.8% in 2024.
- Pulp-based folding boxboards are set to dominate the market, holding almost 55% of the market share in 2024 and expanding 1.5 times over the forecast period.
Competitive Landscape
Leading folding boxboard manufacturers are introducing new and creative folding boxboard solutions designed for specialized applications in the food and beverage, pharmaceutical, and electrical and electronics industries.
Key companies in the folding boxboard market are also raising investments to increase their manufacturing capabilities and geographical footprint, hence improving their market share and global visibility.
Key Players of Folding Boxboard Industry
- ITC Limited
- Metsä Board Corporation
- MM Board & Paper
- Sappi Ltd
- Stora Enso Oyj
- Shandong Bohui Paper Industry Co Ltd
- Holmen Iggesund
- Nippon Paper Industries Co. Ltd
- Mondi Group PLC
- PG Paper Company
- The FOLBB Group
- Dominus Impex LLP
- Spento Paper India LLP
- Shanghai DE Printed Box
Recent Industry Developments in Folding Boxboard Market
- In April 2024, Metsä Board Corporation announced the inauguration of its upgraded folding boxboard machine in Husum, Sweden, on the 11th of April.
- In July 2023, Mondi announced the acquisition of Hinton Pulp mill in Alberta, Canada to support the Mondi American business.
- In May 2023, Stora Enso announced the launch of folding boxboard packaging for food, Tambrite Aqua+, which is easily recyclable. This packaging is fluorochemical-free and can withstand external moisture or grease to keep the product inside safe and fresh. Additionally, In January 2023, the company announced the acquisition of the Netherland-based company De Jong Packaging Group which is one of the largest corrugated packaging producers in the Benelux countries.
Key Segments of the Folding Boxboard Industry
By Material:
In terms of material, the industry is divided into pulp based, bleached chemical, recovered paper, and others.
By Grammage Weight:
In terms of grammage weight, the industry is segregated into 160gsm to 200gsm, 201gsm to 300gsm, and 301gsm & above.
By Packaging Type:
In terms of packaging type, the industry is segregated into boxes, cartons, trays, and others.
By End-use:
The industry is classified by end use industries as food & beverages, personal care & cosmetics, healthcare, food service, tobacco/cigarette, and other higher-end / general packaging.
By Region:
Key countries of North America, Latin America, Europe, East Asia, South Asia, Middle East and Africa (MEA), and Oceania have been covered in the report.
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