The global boxboard packaging market is anticipated to reach a valuation of US$ 62.1 billion in 2023, driven by a rise in e-commerce. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 6.5% between 2023 and 2033, and reaching a total valuation of approximately US$ 116.7 billion by 2033.
One of the major factors contributing to the growth of the boxboard packaging market is the versatility and convenience. Boxboard packaging is highly versatile and can be tailored to suit a wide range of products. The boxboard boxes can be designed to accommodate various shapes and sizes, whether it’s cosmetics, electronics, apparel, or food items. The boxboard packaging often comes with convenient features such as easy-to-use closures, handles, and windows for product visibility.
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Boxboard offers excellent protection to products from external impacts during handling, transportation, and storage. Its sturdy and durable nature ensures that delicate or fragile items remain intact and undamaged throughout the supply chain. The retail industry’s expansion, particularly in emerging markets, is propelling the demand for boxboard packaging. The need for attractive and functional packaging solutions in retail stores has led to increased adoption of boxboard boxes for product display and presentation.
Key Takeaways from the Market Study
- Global boxboard packaging market was valued at US$ 58.3 billion by 2022-end.
- From 2018 to 2022, the market demand expanded at a CAGR of 3.2%.
- Asia Pacific is expected to hold a dominant CAGR of 6.4% during the forecast period.
- By product type, cartons segment is expected to constitute a CAGR of 6.4% in 2033.
- On the basis of end-use, food & beverage segment is expected to dominate the market with a CAGR of 6.4% in 2033.
- From 2023 to 2033, boxboard packaging market is expected to flourish at a CAGR of 6.5%.
- By 2033, the market value of boxboard packaging is expected to reach US$ 116.7 billion.
“Rapid growth of the food and beverage industry, across the globe, is a major factor that is expected to propel the growth of the boxboard packaging market in the near future,” remarks an FMI analyst.
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Competitive Landscape
Prominent players in the boxboard packaging market are
- Stora Enso,
- Sappi,
- Nippon paper group,
- Mondi,
- Metsa Board Oyj,
- Mayr-Melnhof Karton,
- ITC Limited,
- International Paper,
- DS Smith Plc.,
- Huhtamaki Oyj, and
- Smurfit Kappa Group PLC,
- among others.
Recent Developments:
- In 2023, Graphic Packaging International announced the launch of its new line of sustainable boxboard packaging. The new packaging is made from recycled materials and is recyclable in standard paper recycling streams.
- In 2022, International Paper announced the launch of its new line of high-performance boxboard packaging. The new packaging is designed to be more durable and protect products during shipping.
- In 2021, Mondi Group announced the launch of its new line of compostable boxboard packaging. The new packaging is made from compostable materials and can be disposed of in industrial composting facilities.
- In 2021, WestRock announced a new investment of $100 million in a new boxboard packaging manufacturing plant in the United States.
Key Segments Profiled in the Global Boxboard Packaging Market Study
By Product Type:
- Boxes
- Cartons
- Clamshells
- Trays
- Cups
- Dividers
- Others (Bottle Carriers, Tubes, etc.)
By Grade:
- Virgin
- Recycled
By End-Use:
- Food & Beverage
- Pharmaceuticals
- Cosmetics & Personal Care
- Homecare
- Electrical & Electronics
- Automotive
- Other Industries
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global boxboard packaging market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the boxboard packaging market, the market is segmented on the basis of product type (boxes, cartons, clamshells, trays, cups, dividers, and others (bottle carriers, tubes, etc.)), by grade (virgin, and recycled), and by end-use (food & beverage, pharmaceuticals, cosmetics & personal care, homecare, electrical & electronics, automotive, and other industries), across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East & Africa).
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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