The market is expected to generate an incremental $ opportunity of US$ 28.4 Bn between 2022 and 2030
Category: Packaging Published Date : July 2022 ID: CVC-00147-PKG Format: PDF Pages: 285
Containerboard Market Size Analysis
According to a research survey conducted by ChemView Consulting, in 2022, the Global Containerboard Market was worth US$ 130.0 Bn and is expected to grow at a CAGR of 2.5% over the forecast period. The market is expected to hit US$ 158.4 Bn by 2030 end.
Containerboards are fiber-based derivatives made from virgin cellulose fiber, recycled fibers, or a combination of the two. These are utilized in the production of boxes and corrugated containers. It is estimated that corrugated boxes manufactured of containerboard transport more than 95.0% of all products produced in the United States.
This high demand is owing to its well-known strength for transporting various items, as it protects the internal contents from external forces while still being environmentally friendly. Its ease of stacking and transporting products and the use of recycled resources in its manufacturing are additional benefits.
What factors are driving the increase in demand for Containerboard?
Containerboards are primarily utilized in the production of corrugated boxes. Corrugated boxes are widely used in packaging food and beverages, glassware, chemicals, electronics, and consumer goods. The growth of the food and beverage industry has increased global demand.
The changing lifestyle of customers and their rising demand for ready-to-eat, frozen, and packaged meals have resulted in the rise of the food and beverage business. As a result, the containerboard market is expanding.
The rapid development of the e-commerce business is boosting the growth rate due to the usage of product-specific corrugated boxes to protect the goods from damage and deliver them safely.
What potential exists in the Containerboard Market?
Various end-user industries, such as FMCG, electronics, e-commerce, and chemicals, are rapidly evolving. These sectors require customized, lightweight, and sustainable packaging solutions to meet rising demands for product protection, ease of storage, stacking and transportation, and environmentally friendly packaging.
The future containerboard market will meet high client demands with specific requirements, necessitating breakthroughs in cost-effective production techniques, material design, and sustainable manufacturing while adhering to governmental and industry laws.
What are the primary problems that the Containerboard Market faces?
The constraints imposed by the government on the exploitation of raw minerals are a major element impeding industry expansion. The use of virgin wood fiber in producing virgin containerboards impacts the environment. Manufacturing these boards depletes not only natural resources but also releases dangerous greenhouse gases, raising the cost.
The government’s tree-cutting laws are also having an impact on industry growth. As a result, the factors above may stifle market expansion.
During the pandemic, practically all industries were temporarily shut down, resulting in less consumption of Containerboard, which is utilized in packaging various finished goods in these industries, which harms the containerboard market demand. Major containerboard manufacturing firms have ceased operations, such as the paper industry and paper mills.
The containerboard industry slowed due to a drop in demand and supply chain delays caused by the global COVID-19 outbreak.
Why is it projected that Recycled Containerboard will increase at the fastest CAGR?
Recycled containerboards have a substantial market share. Consumer goods manufacturers’ growing preference for recyclable materials has increased the demand for recycled materials. The food and beverage industries’ growing demand for eco-friendly and sustainable packaging solutions has pushed the market.
The demand for recycled ones is likely to increase because they are less expensive and comply with government requirements, improving the total market.
Why is the Food & Beverage segment expected to expand the fastest during the forecast period?
The food & beverage industry accounts for a sizable portion of the containerboard market. The food and beverage industries require corrugated boxes manufactured of containerboards for transportation and storage. It is due to its sturdiness, resistance to stacking and vibration, and capacity to withstand crushing. These benefits contribute to lower shipping and transportation costs, reducing the overall cost of packaging.
Which region has the most promising prospects in the Containerboard market?
In 2021, the Asia-Pacific market was worth USD 56.0 billion. Due to a busy lifestyle, Asia Pacific is the fastest-growing market due to rapid industrialization and increased consumer preference for ready-to-eat prepared and packaged food.
China is the largest contributor to product demand, fueling regional market expansion. China is expected to be the primary consumer of the global containerboard market, primarily determined by large-scale modern and assembling hones.
The containerboard industry is consolidated with numerous prominent companies. Few big firms currently dominate the market in terms of market share. These market leaders are concentrating on growing their consumer base in overseas countries. These businesses are capitalizing on strategic collaboration initiatives to enhance their market share and profitability.
Some of the key developments that have taken place in the Containerboard Market include:
A list of some of the critical suppliers present in the market are:
Market Segments Covered in Report
By Region and Country:
Global Containerboard Market 2022-2030: Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Billion for Value and Tons for Volume, and CAGR from 2022 to 2030|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Type, Material, End-User, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|