Boxboard Packaging Market Forecasts to 2028 - Global Analysis By Raw Material, Grade, Thickness, Product, End User and By Geography

According to Stratistics MRC, the Global Boxboard Packaging Market is accounted for $60.63 billion in 2022 and is expected to reach $81.26 billion by 2028 growing at a CAGR of 5.0% during the forecast period. Boxboard is a type of paperboard that consists of several layers of chemical and mechanical pulp. It is a tough packaging material that may be used to carry and store a variety of items and goods without risk. Boxboard packaging is economical, adaptable, and eco-friendly. This packaging has good strength and is quite flexible. It is among the materials having the least negative effects on the environment. Recycling does not reduce its toughness or resistance.

According to the Association for Packaging and Processing Technologies report, North America is having more than 700 manufacturers and online sales are rising by over 74% year on year from 2021.

Market Dynamics:

Driver:

Ability to recycle

Recycling helps to lessen the requirement for disposing of solid waste. It has a cascading effect that lowers the amount of water, energy, and other resources needed to produce a substance. Recycling the boxboard packaging reduces the harmful consequences of landfills by reducing the amount of trash created by packaging. The market is propelling due to this recycling feature.

Restraint:

Significant competition from flexible plastic packaging

Flexible plastic packaging is the best packaging option for manufacturers and retailers since it minimizes the weight of the packing, which may save shipping and warehousing costs and enable the need for much less space. Its advantages such as single-serve portions, easy-to-open and easy-peel options are hampering the growth of the boxboard packaging market.

Opportunity:

Advancements in technology

Manufacturers work hard to set their products apart from competitor's offerings. It is anticipated that improvements in technology, such as those in machinery, controls and software, will lower the operating costs and boost sales. It provides inexpensive and creative packaging. These elements are accelerating the market's expansion.

Threat:

Strict environmental standards

Reducing greenhouse gas emissions and developing highly efficient & eco-friendly methods of manufacturing products are the major challenges that paper & paperboard packaging face while production. Compared to the energy needed to produce plastic, the energy needed for production is substantially higher. As a result, maintaining environmental standards throughout production may reduce consumer demand.

COVID-19 Impact:

Due to the outbreak of the COVID-19 pandemic, demand for packaging products has decreased significantly in the industrial sectors of food & beverage, confectionery, personal care & cosmetics, wines & spirits, and fashion. Due to the mobility limitations put in place by government agencies, the packaging sector has seen a varied response. The epidemic caused a significant shift in consumer tastes, and the delivery of goods to customer's homes increased demand for paper packaging and cartons.

The cartons segment is expected to be the largest during the forecast period

The cartons segment is estimated to have a lucrative growth, due to its lightweight and convenience. Cartons are an excellent packing box. They may hold a variety of items, including books, shoes, minor accessories, clothing, and more. There is no restriction on what they can contain because they may be trimmed to any size or form. These benefits are fuelling the demand for the segment.

The food & beverage segment is expected to have the highest CAGR during the forecast period

The food & beverages segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the outstanding operating features of paperboard packaging. Its applications include the packaging of frozen meals, alcoholic and non alcoholic beverages, confectionery, dairy products, fast foods, fresh fruits and vegetables. This packaging is appropriate for use with food, can withstand a wide range of temperatures, and helps to preserve organoleptic qualities over time.

Region with largest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to the rapid rise of end use industries. It has the widespread presence of important manufacturers in the market. This region is mainly attributed to the rapid growth of food & beverages industries. The development of sustainable packaging materials and growing environmental concerns about the usage of plastics are two additional reasons anticipated to contribute to the market's expansion.

Region with highest CAGR:

Europe is projected to have the highest CAGR over the forecast period, owing to its Government regulations. The need for boxboard packaging is rising in this region due to the growing demand for pharmaceutical and homecare items. Prominent firms in this region are stepping up their M&A or R&D efforts. This is indicative of the increased focus of the Europe-based companies to expand in this market.

Key players in the market:

Some of the key players profiled in the Boxboard Packaging Market include: Mayr-Melnhof Karton, International Paper, Mondi, Metsa Board Oyj, Smurfit Kappa Group PLC, Nippon paper group, Sappi, Stora Enso, ITC Limited, DS Smith, Sonoco Products Company, Georgia-Pacific LLC, Huhtamaki Oyj, Sealed Air Corporation, Oji Holdings Corporation, WestRock Company, Keiding, Inc, Burgo Group and Amcor plc.

Key Developments:

In May 2022, The French businesses owned by International Paper and Emballages Laurent SAS will profit from investments totalling nearly EUR 23 million (USD 24.191 million) to expand their capacity for production in response to the expansion of the e-commerce industry and provide customers with even more environmentally friendly packaging options.

In April 2022, The Burgo Group has agreed to sell the Duino mill in Trieste (Italy) to Mondi plc for a total price of EUR 40 million (USD 40.815 million). The mill now runs a single paper machine that produces thin-coated mechanical paper. Mondi intends to invest around EUR 200 million (USD 204.076 million) in this paper machine's conversion to produce 420,000 tonnes of high-quality recycled containerboard annually.

Raw Materials Covered:

• Fresh Source
• Recycled Waste Paper
• Coated Unbleached Kraft Paperboard
• Bleached Kraft Paperboard

Grades Covered:

• Virgin
• Recycled
• Label Paper
• Glassine & Grease Proof

Thicknesses Covered:

• 0.75mm - 1mm
• mm - 2.3mm

Products Covered:

• Boxes
• Clamshells
• Cartons
• Dividers
• Trays
• Cups
• Bottle Carriers
• Tubes & Cores
• Other Products

End Users Covered:

• Pharmaceuticals
• Home Care
• Food & Beverage
• Cosmetics & Personal Care
• Automotive
• Electrical & Electronics
• Chemical & Lubricants
• Other End Users

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options.

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances