Boxboard Packaging Market Size Is Surpassing USD 161.17 Billion By 2033, Growing At Projected 6% CAGR

(MENAFN- GlobeNewsWire - Nasdaq) The global boxboard packaging market size is anticipated to grow from USD 90 billion to USD 161.17 billion in 10 years. The market will experience rapid growth due to the growing emphasis on sustainability during the forecast period.

Newark, Aug. 05, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 90 billion in 2023 global boxboard packaging market will reach USD 161.17 billion in 2033. A type of packing material composed of paper and wood fibres is boxboard packaging. Paper is layered to produce a very robust and long-lasting packaging material. A compromise between corrugated cardboard and paper packaging is boxboard. It is lightweight but robust. robust but adaptable. It is both affordable and long-lasting. Its flat surface makes printing on it quite easy. Packaging that is printable is very important in today's economy. There are various procedures involved in making boxboard packaging. Before being fried, the paper pulp is mashed together and placed one on top of the other. After that, the suitable components are coated on it to strengthen its ability to ward off contaminants and moisture. After that, it is sliced into different sizes and shapes based on what the users need. The required text and visuals are then printed on it in accordance with the specifications of the brands and goods. Along with its contents and the handling directions required by the regulatory body, it is printed with additional pertinent information. Compliance is made possible by boxboard packaging's printability. Because of its adaptability, boxboard packaging can be used in a variety of industries. Among other industries, it finds application in food and drink, consumer electronics, cosmetics, and medicines. The material is recyclable and may be recycled again, supporting a sustainable environment and the circular economy.

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Key Insight of the Global Boxboard packaging Market

Asia Pacific will dominate the market during the forecast period.

A robust consumer demand is complemented by a well-established and wide network of industries ensuring consistent supply of quality goods; the region is also an exporting hub given the low production costs; the region's rapidly urbanising population has increased the demand for packaged goods. The rising per capita income of consumers is a result of the region's economies growing at a positive rate and raising disposable income, which in turn has contributed to the rising demand for consumer goods across sectors, including the food, cosmetics, electronics, pharmaceutical, and automotive industries. Developments and product developments have broadened the spectrum of applications for boxboard packaging outside the conventional industries, and government regulations supporting environmental sustainability will also be positive for the industry.

In 2023, the paperboard boxes segment dominated the market with the largest market share of 56% and revenue of 50.40 billion.

The type segment is divided into paperboard boxes and corrugated cardboard boxes. In 2023, the paperboard boxes segment dominated the market with the largest market share of 56% and revenue of 50.40 billion.

In 2023, the virgin segment dominated the market with the largest market share of 55% and revenue of 49.50 billion.

The grade segment is divided into virgin and recycled. In 2023, the virgin segment dominated the market with the largest market share of 55% and revenue of 49.50 billion.

In 2023, the food and beverages segment dominated the market with the largest market share of 38% and revenue of 34.20 billion.

The end user segment is divided into food and beverages, pharmaceuticals, cosmetics and personal care, electronics, and others. In 2023, the food and beverages segment dominated the market with the largest market share of 38% and revenue of 34.20 billion.

Report Scope and Segmentation –

Report Coverage	Details
Forecast Period	2024-2033
Forecast CAGR	6%
2033 Value Projection	USD 161.17 Billion
Market Size in 2023	USD 90 Billion
Historical Data	2020-2022
No. of Pages	238
Report Coverage	Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends
Segments Covered	Type, Grade, and End User
Regions Covered	The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
Boxboard Packaging Market Growth Drivers	The quick expansion of e-commerce.

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Advancement in market

In Husum, Sweden, Metsä Board, a European packaging manufacturer, introduced the BM1, a modernized folding boxboard machine. This calculated action is a reaction to the growing need for environmentally friendly packaging materials that follow the circular economy's tenets.

Market Dynamics

Driver: The quick expansion of e-commerce.

The rise of e-commerce has been facilitated by the growing ownership of smart connected devices as a result of rising disposable income, more options available in the market, shorter product lifecycles, easier access to the internet, and an increase in digital literacy. Because e-commerce provides a wide range of possibilities via a screen, home delivery, various payment ways, quick customer redressal procedures, and deals, it has been more popular since the covid-19 epidemic. The swift growth of online shopping has led to a commensurate increase in the requirement for packaging for the safekeeping, movement, and distribution of these goods. In order for companies to present their brands and products in an enticing manner and draw in more business, packaging has become just as vital as the product itself. Boxboard's printability and flat surface allow manufacturers to accomplish the same. Because these packaging options are recyclable and occasionally manufactured from recycled materials, they also support sustainability initiatives. It is robust and long-lasting, guaranteeing that the products arrive at the consumers' location undamaged and on schedule. As a result, the growing e-commerce sector will aid in the expansion of the worldwide boxboard packaging market.

Restraints: Issues with boxboard packaging's quality.

Boxboard packaging is naturally susceptible to moisture, which compromises the packing's structural integrity and raises the possibility of product contamination. It is a serious issue, particularly with regard to food and drink. Consumer electronics, medications, and cosmetics are also at risk. Intense heat can also cause boxboard packing to break and become damaged. It isn't the best for frozen goods. Boxboards are also not the best material for large, heavy loads. Because of their fragility, they must constantly be handled carefully when it comes to logistics and transit. Furthermore, it lacks chemical resistance. Consequently, boxboard packaging's constraints limit its uses and impede the market's expansion.

Opportunities: The growing focus on sustainability.

The growing regulatory pressure to embrace sustainable materials and practices in the economy is a result of growing concerns about climate change. Every stakeholder is driving the transformation. Customers that care about the environment seek environmentally friendly items, which pushes manufacturers to follow suit. As a component of their corporate social responsibility programmes, they also embrace these sustainability strategies. Furthermore, governments everywhere have increased their efforts to protect the environment by enacting laws, rules, guidelines, fiscal programmes, subsidies, and incentives as a result of realising how important it is to preserve the environment. These laws compel market participants to utilise ecologically friendly items, compelling them to do so in order to avoid facing consequences from the government. Since boxboard is a recyclable and recycled material, the growing emphasis on sustainability will therefore increase demand for this type of packaging.

Challenges: Better alternatives.

The drawbacks of boxboard packaging limit its applications. the drawbacks also lead to adoption of better products like plastics which offers greater strength, durability, relatability and a better overall performance. Plastics offer a superior durability. It is also moisture resistant. It is flexible and versatile along with being highly customizable. It can handle extreme temperatures, pressures as well as rough handling. They are cost-effective. They are well-tested across industries increasing trust in their ability to produce positive results for the packaging industries. therefore, the presence of well-tested and better alternatives will challenge the market's growth.

Some of the major players operating in the global boxboard packaging market are:

. Smurfit Kappa Group Plc
. International Paper Company
. Stora Enso Oyj
. ITC Limited
. Mayr-Melnhof Karton AG
. Sappi Limited
. Metsa Group
. Mondi Group
. Nippon Paper Industries Co. Ltd.
. WestRock Company

Key Segments covered in the market:

By Type

. Paperboard Boxes
. Corrugated Cardboard Boxes

By Grade

. Virgin
. Recycled

By End User

. Food and Beverages
. Pharmaceuticals
. Cosmetics and Personal Care
. Electronics
. Others

By Region

. North America (U.S., Canada, Mexico)
. Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
. Asia-Pacific (China, Japan, India, Rest of APAC)
. South America (Brazil and the Rest of South America)
. The Middle East and Africa (UAE, South Africa, Rest of MEA)

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About the report:

The market is analysed based on value (USD Billion). All the segments have been analysed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.

About The Brainy Insights:

The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirements whether they are looking to expand or planning to launch a new product in the global market.

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