According to the estimations derived by FMI analysts, over the projection period, the fanfold market is predicted to register a CAGR of 4.6%, from USD 9.8 billion in 2024 to a worth of USD 15.1 billion by 2034.
Due to rising applications in a variety of sectors and developments in packaging and printing technologies, the global fanfold market is anticipated to grow significantly over the ensuing decade.
Because more people are buying online and using fanfolds to package consumer items, there is a growing need for fanfolds. The global fanfold market share is anticipated to be significantly influenced by the FMCG industry.
Fanfolds are in great demand, which has FMCG companies concentrating on environmentally friendly packaging. Another issue affecting fanfold sales is the rise in the usage of fanfolds for the transportation of electrical items brought on by the e-commerce boom.
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However, manufacturers struggle to maintain consistent supply due to insufficient raw materials during the COVID-19 outbreak. The fanfold market share is expected to grow drastically due to the growth of e-commerce and digital printing technologies.
“Customers are increasingly concerned with a safe, secure, and reliable packaging solution, leading to a rapid increase in fanfold sales,” – Says a Lead Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).
Key Takeaways from the Fanfold Market Report
- The fanfold industry experienced a CAGR of 3.2% from 2019 to 2023. The market value surged from USD 7.4 billion in 2019 to USD 9.3 billion in 2023.
- In 2024, the double wall segment is estimated to acquire a market share of 37.6%.
- For the shipping and logistics sector is projected to obtain a leading share of 24.3% in 2024.
- In the Asia Pacific, India and China are the leading performers, attaining CAGRs of 6.7% and 5.9%, respectively, over the forecast period.
- Spain is predicted to continue leading its European industry at a 3.3% CAGR by 2034.
Competitive Landscape
The fanfold market is highly fragmented and characterized by fierce competition, involving a multitude of domestic and regional contenders. To navigate this competitive landscape, companies are employing various market expansion strategies, including geographic expansions, mergers and acquisitions, partnerships, and collaborations.
The strategic maneuvers enable firms to broaden their market reach and consolidate their positions. In addition to such approaches, top players in the paper packaging market are focusing on developing innovative products to enhance their market presence.
By introducing novel packaging solutions, they aim to attract attention and cater to evolving consumer preferences. Such strategies are designed to not only differentiate them from competitors but also to expand their product portfolios.
As these initiatives gain traction, they are expected to significantly intensify the level of competition within the paper packaging industry, propelling novel improvements and innovations in packaging designs, materials, and functionalities to meet diverse market demands.
Key Players of Fanfold Industry
- International Paper Company
- Smurfit Kappa
- VPK Group
- DS Smith
- Menasha Packaging Company
- Papierfabrik Palm
- Braepac Packaging
- Independent Corrugator
- Rondo Ganahl
- RIBBLE PACKAGING LTD
Recent Industry Developments in Fanfold Market
- Ansapack Pvt. Ltd., a Mumbai-based supplier of pharmaceutical packaging solutions, bought another offset printing and services business in January 2024. This acquisition came after the firm strategically purchased a Sikkim-based pharmaceutical flexible manufacturing factory.
- The goal of Belgium’s VPK Group’s October 2023 acquisition of Zetacarton’s controlling share was to develop its vertically integrated value-added business strategy throughout Europe and break into the Italian corrugated packaging industry.
Key Segments of Fanfold Industry
By Wall Type:
Based on the wall types, the industry is divided into single wall, double wall, and triple wall.
By Printing Technology:
In terms of printing technology, the industry is segregated into digital printing, flexographic printing, and lithographic printing.
By End Use:
Based on the end use of the containers, the demand is categorized into shipping and logistics e-commerce, electronics and home appliance, pharmaceutical, personal care and cosmetics, food and beverage, and other consumer goods.
By Region:
Key countries of North America, Latin America, Europe, East Asia, South Asia & Pacific, Middle East and Africa (MEA), have been covered in the report.
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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