The folding boxboard market is expected to witness substantial growth in the coming years. According to a study conducted by Future Market Insights, the market is projected to generate a total revenue of US$12.2 billion in 2022, with a further increase to US$20.3 billion from 2022 to 2032, growing at a compound annual growth rate (CAGR) of 5.2%.
In terms of market share, the 201-300 GSM and 301-350 GSM basis weight segments of the folding boxboard market are predicted to collectively hold approximately 65% of the market share in 2022. These segments are further expected to grow at CAGRs of 4.5% and 5.3%, respectively, from 2022 to 2032.
According to the forecast by Future Market Insights, the market for folding boxboard is anticipated to expand by 50 basis share points (BPS) in H1-2022 (O), compared to H1-2021. This represents a significant increase of 20 BPS in the BPS change between the projected H1-2022 period and the H1-2022 outlook period. The market expansion is primarily driven by the demand for compact, reliable, trustworthy, cost-effective, and efficient packaging solutions.
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The growth of e-commerce has also played a significant role in driving the demand for foldable boxboard. With the rise in online sales, there has been an increased need for packaging materials that can ensure the protection of goods during delivery and handling. Folding boxboard is an excellent choice for e-commerce packaging due to its durability, strength, and customization options, allowing it to accommodate various product shapes and sizes.
North America and Europe are expected to dominate the folding boxboard market in the coming years, driven by the significant demand for environmentally friendly packaging options in these regions. However, the Asia-Pacific region is also anticipated to experience substantial growth due to the increasing adoption of e-commerce and the demand for high-quality packaging solutions.
Key Takeaways
- Some of the recent market advancements have taken place in the folding boxboard market such as the development of lighter folding boxboards without sacrificing strength properties which saves raw material costs. Attributing to such factors, the folding boxboard market is expected to showcase opulent growth opportunities.
- Furthermore, surging public awareness of the benefits of eco-friendly packaging and a widespread application of folding boxboard in every industry is further expected to drive market growth.
- The escalating demand for flexible packaging paper solutions across the globe is driving the growth of the folding boxboard market as per FMI projections. The global folding boxboard market is anticipated to expand at a prolific 5.2% CAGR between the forecast period of 2022 and 2032, in comparison to the CAGR of 4.7% registered between the period 2015 and 2021.
- The rising consumer shift towards paper packaging products is increasing day by day owing to the environmental friendly characteristics of paper material. In several countries, NGOs and governments are taking initiatives to educate people to eliminate the use of plastic packaging products. This has created a positive impact on the global demand for paper-based packaging products.
- In most developing countries, regional governments have staunchly banned the use of plastic bags for retail use which contributes majorly to the pollution of metropolitan cities. Consumers in these big cities are positively supporting the no plastic movement and adopting paper-based packaging products over plastic packaging products.
- Paper packaging comes with several benefits such as it offers optimum protection and is economical due to which they drastically become the first preference for packaging bulk goods in a variety of industries including electrical and electronics, processed food, etc. The ever-growing popularity of paper packaging products is anticipated to drive the folding boxboard market.
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Competitive Landscape
Leading folding boxboard manufacturers are launching new and innovative folding boxboard solutions targeted for specific applications in the food & beverage, pharmaceutical and electrical & electronics end uses. Key players in the folding boxboard market are also taking steps like increasing investments to expand their manufacturing capabilities and geographical footprint to enhance their market share and global presence.
For instance, in February 2021, Mayr-Melnhof Karton AG announced its agreement to acquire Poland based Kwidzyn mill from International Paper for expansion of virgin fiber-based carton board product portfolio.
In May 2020, Metsä Board Corp. announced the expansion of its folding boxboard product portfolio with launch of MetsäBoard Pro FBB OBAfree, MetsäBoard Prime FBB EB eco-barrier paperboard and MetsäBoard Natural FBB uncoated folding boxboard.
The following players hold a significant share in the global Folding Boxboard market
The writer will create content on the general strategies of market players. And then will write the key players in the market are:
International Paper Co., ITC Limited, Kotkamills Oy., Mayr-Melnhof Karton AG, Metsä Board Corp., Mondi Group plc, Nippon Paper Industries Co., Ltd., SAPPI Ltd., Shandong Bohui Paper Industrial Co., Ltd. and Stora Enso Oyj.
Regional Outlook:
Germany: Robust Demand for Folding Boxboard Driven by Food & Beverage Industry
Germany, with the largest market share in Europe, is generating a significant demand for folding boxboard. The country’s food and beverage industry, which accounted for a substantial revenue of EUR 185.3 billion in 2019, is driving the growth of the folding boxboard market. The extensive applications of folding boxboard in the food and beverage sector contribute to its market expansion in Germany.
India: Lucrative Market for Folding Boxboard Fueled by Pharmaceutical Industry
India holds the largest market share for folding boxboard in South Asia, with around 47% by the end of 2022. The pharmaceutical industry in India is projected to reach a value of US$65 billion by 2024, with a year-over-year growth rate of 10 to 12%. As the third-largest global producer of pharmaceuticals, India’s pharmaceutical sector is a major end-user of folding boxboard, driving its demand for pharmaceutical packaging applications.
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Segmentation
The report provides insights on the important highlights and current trends prevailing in the market. This helps the readers to gain a deeper understanding and form an unbiased opinion on the market. Numerous segmentations have been provided for this market based on:
Material
- Pulp Based
- Bleached Chemical
- Recovered Paper
- Other Materials
Application Type
- Higher end and General Packaging
- Healthcare
- Cosmetics
- Greeting Cards
- Other Applications
Frequently Asked Questions
- What is the sales outlook for the folding boxboard market?
- What is the estimated valuation of the folding boxboard market for 2022?
- What is the North American folding boxboard market outlook in 2022?
- Which is the fastest-growing folding boxboard market?
- Which are the top 3 countries exhibiting high demand for folding boxboard?
- At what rate will the India folding boxboard market grow?
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