Future Market Insights research indicates that the global coated recycled boxboard market is poised to achieve a valuation of US$ 44.7 billion in 2023. Projections for the forecast period anticipate a continued expansion at a Compound Annual Growth Rate (CAGR) of 4.5%, with the market reaching an estimated US$ 69.4 billion by the year 2033. This upward trajectory underscores the sustained demand for coated recycled boxboard, driven by environmental considerations and the versatile applications of this packaging material across various industries. The forecasted CAGR reflects the market’s resilience and its pivotal role in the evolving landscape of sustainable packaging solutions.
The coated recycled boxboard market is poised for a favorable growth trajectory in the forecast period, with FMI’s latest projections indicating a notable uptick in sales from 2023 to 2033. The forecast suggests a substantial absolute incremental growth opportunity of US$ 26.5 billion, underscoring the market’s potential for expansion. This optimistic outlook reflects the increasing demand and preference for coated recycled boxboard in various industries, driven by its eco-friendly characteristics and versatility in packaging applications, contributing to the overall positive market dynamics and creating significant opportunities for industry stakeholders.
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Market Drivers:
- Sustainability Trends: Increasing environmental awareness and a growing focus on sustainable packaging solutions have been significant drivers for recycled materials, including coated recycled boxboard.
- Regulatory Initiatives: Stringent regulations and policies promoting the use of recycled materials and reducing environmental impact can drive the demand for coated recycled boxboard.
- Cost Efficiency: Coated recycled boxboard may be viewed as a cost-effective alternative to virgin materials, leading to increased adoption by manufacturers and businesses aiming to cut costs.
- Consumer Preferences: Changing consumer preferences toward eco-friendly products and packaging can stimulate demand for recycled and sustainable packaging options.
- Circular Economy Initiatives: Companies and governments promoting circular economy practices, where materials are recycled and reused, can boost the demand for coated recycled boxboard.
Market Restraints:
- Quality Concerns: One of the challenges with recycled materials is sometimes perceived to be lower quality compared to virgin materials. If coated recycled boxboard doesn’t meet certain quality standards, it may face resistance in the market.
- Supply Chain Challenges: The availability and consistency of the supply of recycled materials can be a constraint. Fluctuations in the supply chain can impact the production and pricing of coated recycled boxboard.
- Technological Limitations: Technological constraints in the manufacturing processes for coated recycled boxboard may limit its competitiveness with traditional materials in certain applications.
- Competitive Pressure: If alternatives, such as non-recycled boxboard or other sustainable materials, become more competitively priced or offer better performance, it could restrain the market growth for coated recycled boxboard.
- Lack of Awareness: Limited awareness among consumers and businesses about the benefits and applications of coated recycled boxboard may hinder its widespread adoption.
The Major Key Players Are:
- Graphic Packaging International, Inc.
- Greif, Inc.
- Cascades Inc.
- Smurfit Kappa Group plc
- Paperworks Industries Inc.
- Netpak.
- DS Smith plc
- Georgia-Pacific Corporation
- Klabin SA
- Packaging Corporation Of America
- Orora Ltd.
- Emenac Packaging USA
- Caraustar Industries Inc.
- Mondi Group plc
Recent Developments-
- In September 2022, Graphic Packaging International, Inc. made a strategic investment in Paper seal Machine. The investment has been done with the objective of meeting up the local demand in the US The investment in recyclable paperboard manufacturers is strengthening the company’s operations in the particular market.
- In November 2022, Greif, Inc. acquired LEE Container. The company’s acquisition is further expanding its presence in the recycled boxboard market. Through its acquisition company is now focusing on innovative and advanced packaging solutions.
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Coated Recycled Boxboard Market by Category
By Coating Type
- Poly
- Clay
- Adhesive
By Application
- Backing Board
- Boxes & Cartons
- Cores & Tubes
- Displays
- Trays
- Others (Cups, Tubs, etc.)
By End Use
- Food & Beverages
- Electrical & Electronics
- Personal Care & Cosmetics
- Pharmaceuticals
- Homecare & Toiletries
- Others (Automobiles, etc.)
By Region
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East & Africa (MEA)
- Oceania
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 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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