Paper and board are made from natural fibers which are recyclable. Carton boxes are effective packaging solution, which offers protection against breakage and damage during transit or storage. This packaging has application in various end-use industries such as food and beverages, electronics, consumer goods, healthcare, and personal care and cosmetic industry.
Rising government support for e-Commerce or online retailing fueled demand for board packaging across the globe in 2018. According to the data provided by the US Department of Commerce and International Trade Administration, in 2016, the Malaysian Ministry of International Trade and Industry (MITI) launched a new e-Commerce initiative, in order to focus on small and medium-sized enterprises under e-Commerce and to expand market access for over 87 million digital customers in ASEAN region.
Europe accounted for significant market share in the global board packaging market in 2018, owing to new product launches of board packaging by key players to strengthen their position in the market. For instance, in 2019, Smurfit Kappa Company launched new corrugated board range named as TopClip for beverages in the market. The new TopClip features two die-cut holes so it can be handled easily in store. The product is specially designed to replace single use plastic for bundling canned and bottled beverages. It is plastic-free and 100% recyclable, renewable, and biodegradable.
Moreover, North America accounted for the significant market share in the global board packaging market in 2018, owing to rising e-commerce industry in the U.S. For instance, according to the United States Census Bureau, the e-commerce sales was accounted for US$ 105,096 Mn in second quarter of 2017, the e-commerce sales was increased from US$ 98,292 Mn in the first quarter of 2017 to US$ 105,096 Mn in the second quarter of 2017. These are the factors that are expected to drive the board packaging market growth.
Key players operating in the global board packaging market include International Paper Company, The Smurfit Kappa Group plc, WestRock Company, Cascades Inc., Amcor plc., Graphic Packaging International, LLC, Stora Enso OYJ, All Packaging Company, and Georgia-Pacific.
Key players are adopting various in-organic growth strategies such as new product launches, mergers and acquisitions, partnerships, and collaborations, in order to gain market share in the global board packaging market. For instance, in 2019, the U.S based company True Salt launched recyclable cardboard box for retail and hospitality product distribution. The new three-pound box is made for retail and hospitality product distribution. The company has selected 100% recyclable cardboard for its packaging. The company offers a range of salts including flake salts and cocktail salt for beverages.
Moreover, in 2018, the WestRock Company, a leading provider of differentiated paper and packaging solutions acquired all assets of Plymouth Packaging. Inc. (Plymouth) to expand its product portfolio in the containerboard packaging in the North America.
Furthermore, in July 2019, International Paper Company acquired two corrugated packaging facilities located in Portugal and France from DS Smith. With this acquisition company aimed to expand its business in the board packaging market in Europe.
On the basis of product type, the global board packaging market is segmented into:
On the basis of end-use industry, the global board packaging market is segmented into:
On the basis of region, the global board packaging market is segmented into:
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