The global boxboard packaging market is poised for substantial growth, with a projected value of US$ 62.1 billion in 2023 and anticipated advancements in sustainability certification driving the market to reach around US$ 116.7 billion by 2033, at a robust CAGR of 6.5%.
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Key Factors Driving Boxboard Packaging Market Growth:
- Innovation in Design and Printing: Advancements in printing technologies, including digital printing, offset printing, and flexography, have transformed the landscape of boxboard packaging. These innovations enable intricate patterns, vibrant colors, and lifelike images, enhancing product presentation and consumer engagement while reinforcing brand identity.
- Rise in Food Delivery and Takeout Services: The increasing popularity of food delivery and takeout services is a significant driver for boxboard packaging demand in the food industry. Boxboard containers offer convenience for both restaurants and consumers, maintaining food freshness and integrity during transportation, and providing leak-resistant properties crucial for various cuisines.
- Customization and Branding Opportunities: Boxboard packaging serves as a versatile canvas for customization, allowing brands to showcase their logos, slogans, and branding elements prominently. Customized packaging enhances brand recognition and fosters a memorable unboxing experience, contributing to consumer engagement and loyalty.
- Storytelling and Consumer Connection: Boxboard packaging can be utilized as a storytelling tool, enabling brands to communicate their values, mission, and product stories effectively. By aligning with consumer values such as sustainability and social responsibility, brands can establish meaningful connections and enhance brand loyalty.
Industry Dynamics:
Consumers get attracted towards visually enticing products, the boxboard packaging provides a unique finish to the product’s packaging. Packaging of a product is mandatory to achieve the products safety, extended product storage, and maintain product quality. Boxboard packaging utilizes recycled materials, along with being rigid, boxboard packaging system provides stability, and due to its excellent surface for printing the product appears more attractive to the final consumer.
Key Takeaways from this Market:
- 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.
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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 players:
- International Paper
- Mayr-Melnhof Karton
- Mondi
- Nippon paper group
- Metsa Board Oyj
- Stora Enso
- Sappi
- ITC Limited
The report is a compilation of first-hand information, qualitative and quantitative assessments by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with industry attractiveness as per segments. The report also maps the qualitative impact of various market factors on industry segments and geographies.
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Our regional analysis includes –
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan (APEJ)
- Japan
- Middle East & Africa (MEA)
Market Segmentation:
Based on material type:
- Coated Unbleached Kraft Paperboard
- Bleached Kraft Paperboard
- Recycled Paper
Based on product type:
- Boxes
- Folding Carton
- Tubes & Cores
- Others
Based on thickness:
- From 0.75mm to 1mm
- From 1.1mm to 2.3 mm
Based on end use:
- Food & Beverages
- Personal Care & Cosmetic
- Home Care
- Pharmaceutical
- Automotive
- Electrical & Electronics
- Chemical & Lubricants
- Others
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
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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