Future Market Insights (FMI) projects that the global folding boxboard market, valued at USD 12.2 billion in 2022, is set to grow at a CAGR of 5.2%, reaching USD 20.3 billion by 2032. This growth is primarily driven by the rapid expansion of the e-commerce industry, which is creating significant opportunities for folding boxboard manufacturers worldwide.
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Key Market Drivers
- Booming E-commerce Industry: The exponential growth of the e-commerce industry in both developed and developing economies is a major driver for the folding boxboard market. Millions of products are shipped annually from retailers’ warehouses to consumers, requiring protective and functional packaging. Folding boxboards, known for their lightweight and sturdy nature, are increasingly being used to ensure the safe shipment of delicate products.
- Demand for Sustainable Packaging: The growing trend of internet shopping is boosting the demand for convenient and lightweight packaging solutions. Folding boxboards are not only efficient in protecting packaged contents but are also sustainable, aligning with the increasing consumer preference for eco-friendly packaging options.
The Impact of E-commerce Trends on Folding Boxboard Market:
The escalating trend of internet shopping is forecasted to drive the global corrugated boxes market, amplifying the demand for convenient and lightweight packaging solutions like folding boxboards. Renowned for their efficacy in protecting packaged contents and sustainability, folding boxboards are poised to experience heightened demand amidst the e-commerce industry’s rapid expansion.
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.
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Country-wise Insights
Germany: Germany is expected to account for around 28% of the European folding boxboard market by the end of 2022, the largest share among European countries. The country’s significant demand for folding boxboard is driven by its robust food and beverage industry, which was valued at EUR 185.3 billion (~USD 208 billion) in 2019, according to the Federation of German Food and Drink Industries (BVE). Extensive applications of folding boxboard in food and beverage packaging are anticipated to propel market growth in Germany.
India: India is projected to be the largest market for folding boxboard in the South Asia region, with an estimated market share of around 47% by the end of 2022. The pharmaceutical industry, a major end-user of folding boxboard, is a key growth driver. According to Invest India, the pharmaceutical industry in India is expected to reach USD 65 billion by 2024, growing at a rate of 10-12% year-over-year. India ranks third globally in terms of pharmaceutical production volume, further driving the demand for folding boxboard for pharmaceutical packaging applications.
Queries Solved
- What is the size of the overall Folding Boxboard Market in the Food and Beverage Market and its segments?
- What are the key segments and sub-segments in the market?
- What are the key drivers, restraints, opportunities, and challenges of the Folding Boxboard Market in the Food and Beverage Market, and how they are expected to impact the market?
- What are the attractive investment opportunities within the Folding Boxboard Market in the Food and Beverage Market?
- What is the Folding Boxboard Market in the Food and Beverage Market size at the regional and country-level?
- What are the key market players focusing on?
- What are the strategies for growth adopted by the key players in Folding Boxboard Market in the Food and Beverage Market?
- What are the recent trends in Folding Boxboard Market in the Food and Beverage Market? (M&A, partnerships, new product developments, expansions)?
- What are the challenges to the Folding Boxboard Market in the growth of the Food and Beverage Market?
- What are the key market trends impacting the growth of the Folding Boxboard Market in the Food and Beverage Market?
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Folding Boxboard Market by Category
By Basis Weight :
- Up to 200 GSM
- 201 – 300 GSM
- 301 – 350 GSM
- Above 350 GSM
By Material Type :
- Uncoated Paperboard
- Coated Virgin Paperboard
- Recycled Paperboard
By End Use :
- Food & Beverage
- Pharmaceutical
- Cosmetics & Personal Care
- Automotive
- Electrical & Electronics
- Transportation & Logistics
- Others (Homecare, etc.)
By Rregion :
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa (MEA)
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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