The new report by Expert Market Research titled, ‘Global Folding Boxboard Market Size, Report and Forecast 2023-2028’, gives an in-depth analysis of the global folding boxboard market, assessing the market based on its segments like applications, manufacturing process and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2020): USD 16.4 billion
- Forecast CAGR (2023-2028): 8%
- Forecast Market Size (2026): USD 22.6 billion
The growing use of folding boxboard in various application sectors, the growing population, and the growing awareness of the benefits of eco-friendly packaging are all significant factors enabling the folding boxboard industry to expand. Global growth in the personal care industry, combined with increasing innovation in the industry and its downstream sectors, further propels the folding boxboard industry forward. The increasing demand for folding boxboard in the packaging of health and pharmaceutical products, cigarette packaging, and food packaging is expected to drive market growth in the coming years.
Industry Definition and Major Segments
Folding boxboard is a rigid packaging material. It is typically composed of mechanical pulp sandwiched between a top and back sheet composed of chemical pulp. The top layer of the folding boxboard is bleached and usually pigmented.
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By material, the market is divided into:
- Pulp Based
- Bleached Chemical
- Recovered Paper
- Others
By application, the market is divided into:
- Greeting Cards
- Transportation
- Packaging
- Others
By region, the industry is categorised into:
- North America
- Europe
- The Asia Pacific
- Latin America
- The Middle East and Africa
Market Trends
The global boxboard market’s competitive landscape is quite fragmented. This fragmentation is a result of the growing presence of several well-known players on the global stage. Competition in the global market is expected to intensify over the forecast period. Numerous factors are anticipated to contribute to the global folding boxboard market’s growth. One of the primary factors driving the market’s growth has been the increasing number of applications for these folding boxboards. They are used in various applications, including confectionery packaging, graphic packaging, and packaging for frozen, chilled, and other foods. Additionally, folding boxboards are used to package health and beauty products, cigarette packaging, and pharmaceutical packaging. Increased demand for these applications from their respective end-users directly affects the global market’s overall development. Additionally, the purchasing power and disposable income of the masses have increased significantly in recent years. This, too, is expected to provide a significant boost to the global market’s overall development.
North America is a significant market for folding boxboard. Folding boxboard market growth in North America is attributed to rising demand for bio-based packaging solutions and increased consumer awareness and demand for personal care products. The Asia Pacific region’s market is expected to grow rapidly as a result of rapid urbanization and rising consumer incomes in emerging economies such as India and China. Additionally, efficient manufacturing facilities, increased capacity, and the availability of cheap labor are expected to bolster the Asia Pacific market’s growth in the coming years. Another significant factor driving the Asia Pacific market’s expansion has been consumers’ increased purchasing power, which has resulted in increased downstream demand for the product. Additionally, as consumer awareness about the environment has increased in recent years, consumers in the region are becoming more receptive to purchasing eco-friendly packaging solutions, which is expected to contribute to the market’s growth in the Asia Pacific region.
Key Market Players
The major players in the market are International Paper Company., Metsä Board Corporation, JK Paper Ltd., Holmen Iggesund, among Others. The report covers the market shares, capacities, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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