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Containerboard Market size was USD 126.66 billion in 2021|Containerboard Industry Share, Growth Rate, Demand and Forecast

01-24-2023 06:01 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Fortune business insights

Containerboard Market

Containerboard Market

The containerboard market size was USD 126.66 billion in 2021. The market is projected to grow from USD 129.73 billion in 2022 to USD 153.51 billion in 2029 at a CAGR of 2.4% during the 2022-2029 period. This vital information is presented by Fortune Business Insights™, in its report, titled, "ContainerboardMarket, 2022-2029." Factor such as rising demand for sustainable packaging solutions will increase the footprint of the market during the forecast period.

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Segments

Based on material, the market can be divided into virgin and recycled.

By end-user, the market can be broken down into food & beverage, personal care & cosmetics, industrial, and others.

In terms of geography, the market can be categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Report Coverage

The report contains a detailed approach by focusing on pivotal factors such as leading players in the market, types of materials & end-users, and ongoing market trends. Additionally, the report contains the latest research methodology that was integrated toward amplifying the market scope. Factors that are expected to impact the market in a meaningful manner are also noted in the report.

Drivers & Restraints

Rising Food & Beverage Sector to Augment Market Growth During Forecast Period

Factors such as rising demand for packaging from food & beverage, glassware, electronics, chemicals, and consumer products will boost the containerboard market growth during the forecast period. Additionally, the sustainability and environmentally friendly nature of containerboards coupled with the ability to be produced with recycled materials will further fuel the growth of the market during the forecast period. Also, changing lifestyles among consumers and increasing demand for ready-to-eat frozen and packaged foods will further fuel the growth of the market.

However, rising regulations by the government towards using natural resources will limit the growth of the market during the forecast period.

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Regional Insights

Asia Pacific to Exert Dominance During Forecast Owing to Rapid Industrialization Activities

Asia Pacific will possess the largest and the fastest-growing containerboard market share during the forecast period owing to rapid industrialization coupled with the rising preference of consumers opting for ready-to-make packaged foods & beverages to name a few.

North America is expected to occupy a considerable market share in terms of global contribution owing to risen usage of sustainable products coupled with the ability to offer lightweight and durable packaging attributes.

Europe is expected to witness a significant market share during the forecast period owing to rising demand for cosmetics and personal care.

Competitive Landscape

Prominent Players Organizing Growth Strategies to Exert Dominance During Forecast

The sector of containerboard depicts a highly consolidated market with the top 5 players holding 20% of the global production supply. The dominant players in the market have invested heavy investments in their R&D development for water-resistive and recyclable products. These strategies are expected to gain a competitive edge among global leaders. For example, in September 2021, Rengo Co., Ltd announced that Vina Kraft Paper Co. Ltd decided to construct a new production base in containerboard in Vietnam with the aid of a joint venture. The newly constructed mill is further aimed at creating sustainable development & growth in the region of Vietnam. Additionally, players are also focused on increasing strategic entanglements such as mergers & acquisitions and collaborations for gaining a larger consumer base.

Key Industry Development

September 2021: Rengo Co., Ltd. announced that Vina Kraft Paper Co., Ltd. decided to construct a new production base for containerboard in Vietnam through joint venture. With the newly constructed mill, Vina Kraft Paper will firmly establish its presence in the Vietnam and aim for sustainable development and growth.
List of Key Players Present in the Market

Mondi Group (U.K.)
SCG PACKAGING PUBLIC COMPANY LIMITED (Thailand)
DS Smith (U.K.)
Lee & Man Paper Manufacturing Ltd. (China)
Smurfit Kappa (Ireland)
International Paper (U.S.)
Oji Fibre Solutions (NZ) Ltd. (Australia)
WestRock Company (U.S.)
Rengo Co., Ltd. (Japan)
Georgia-Pacific LLC (U.S.)
Hamburger Containerboard (Austria)
Nine Dragons Paper (Holdings) Limited (Hong Kong)
Stora Enso (Finland)
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Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

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