According to the MRFR analysis, the global Boxboard Packaging Market Share size was valued at around USD 55 billion in 2020 and is expected to reach around USD 80 billion by the end of 2028 at a CAGR of 5.0%.
Boxboard is the lighter weight and thin carton commonly used to carry a single item such as breakfast cereal, crackers, shoes, a toy, among others. The boxboard packaging does not have the wavy middle layer (corrugating medium) which provide the strength. Boxboard packaging is used for various applications from packaging products of cosmetics to electronics.
Packaging of a product is mandatory to achieve the extended product storage, products safety, and maintain the quality of the product. Boxboard packaging utilizes recycled materials, along with being rigid, boxboard packaging system provides stability, and due to its excellent surface for printing the product appears more attractive to the final consumer. Boxboard packaging can be folded intricately, the printing on the boxboard packaging can be done using vibrant colors, they are aesthetically good and are ideal for the retail boxes. All these factors are together propelling the growth of Boxboard Packaging Market Share across the globe.
Competitive Landscape
The global Boxboard Packaging Market Share is consolidated with the presence of numerous global, regional, and local players, with prominent players holding a major market share. Some of the prominent players include International Paper (US), Mayr-Melnhof Karton (Austria), Mondi (UK), Nippon paper group (Japan), Metsa Board Oyj (Finland), Stora Enso (Finland), DS Smith (UK), SMURFIT KAPPA (Ireland), Sappi (South Africa), ITC Limited (India), among others. Manufacturers focus mainly on the expansion of production facilities, acquisition, joint ventures, and partnerships with key stakeholders to gain a competitive advantage over other players. Furthermore, producers are increasingly focusing on a strategic alliance with stakeholders, new product development, and expansion of production capacities to gain a maximum share of the global market.
Get sample report- https://www.marketresearchfuture.com/sample_request/10755
Segmentation
By Material Type
This segment is further segmented into coated unbleached kraft paperboard, bleached kraft paperboard, and recycled paper .
Coated unbleached kraft paperboard is one of the largest segment in the Boxboard Packaging Market Share. It’s commonly used for beer and soft drink beverage containers as well as heavy-duty retail packaging such as hardware and concentrated laundry detergents
Bleached Kraft paper undergoes a treatment using bleach and other chemicals to whiten and purify the natural Kraft pulp. Through this process, the paper becomes stronger than traditional brown Kraft paper. Because of this added strength, white bleached Kraft paper is used heavily in wrapping and packaging. Bleached kraft paper are projected to grow at a lucrative rate during the forecast period.
By Product Type
By product type, the market is segmented into boxes, folding cartons, and tubes cores.
Boxes segment is one of the largest segment in the Boxboard Packaging Market Share across the globe. Boxes has variety of applications in various end use industries such as food beverages, pharmaceutical, personal care cosmetics, among others.
A folding carton is a paper-based package that acts as the external container for an item or product. This segment is one of the widely used segments among other product types. This is used for health and beauty products, frozen, chilled and other foods, confectionaries, pharmaceuticals. This segment is projected to grow at significant rate during the forecast period.
By Thickness
By thickness, the market is segmented into from 0.75mm to 1 mm and from 1.1 mm to 2.3 mm.
From 1.1 mm to 2.3 mm segment is projected to hold prominent share in the Boxboard Packaging Market Share during the forecast period.
By End-Use
By end-use, the market is segmented into food beverages, personal care cosmetics, home care, pharmaceutical, automotive, electrical electronics, chemical lubricants, and others.
Food Beverages segment is likely to have a higher demand owing to increasing demand in food and beverage industry and are widely used in cereals, confectionaries, and ready to consume fruit drink packaging.
Personal care and cosmetics packaging segment is projected to grow at lucrative rate during the forecast period. Appearance and look are key for the personal care cosmetics packaging. At the same time, trends in this area are increasingly moving in the direction of eco-friendly, sustainable packaging solutions that play a meaningful part in the fight against plastic waste reductio
By Region
North America: North America accounted for the second-largest share in the global market due to large production bases of Boxboard Packaging producers globally, increasing demand for sustainable packaging solutions.
Europe: Europe recorded a significant growth in the global market based on consumption. The demand is mainly driven by stringent government regulations, and the presence of large-scale end-use industries.
Asia-Pacific: Pacific accounted for the largest market share and is projected to witness the fastest growth in the market. This is mainly attributed to the rapid growth of end use industries such as food beverages, and the wide presence of key producers in the region.
Latin America: Latin American market is projected to witness notable demand for Boxboard Packaging owing to expanding food beverages industry across the region.
Middle East Africa: The demand for Boxboard Packaging is rising due to the increased demand for homecare pharmaceutical sector.
Buy Now- https://www.marketresearchfuture.com/checkout?currency=one_user-USDreport_id=10755
About Market Research Future -
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research Consulting Edibles.
MRFR team has the supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end-users, and market players for global, regional, and country-level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with the technology and work process of the industry, MRFR often plans to conduct meet with the industry experts and industrial visits for its research analyst members.
Contact:
Market Research Future®
99 Hudson Street,5Th Floor
New York, New York 10013
United States of America
Phone: +1 628 258 0071(US) +44 2035 002 764(UK)
Email: sales@marketresearchfuture.com
Website: https://www.marketresearchfuture.com
