Solid Board Market Set to Cross US$ 13 Bn in 2029; Preference for Eco-friendly Packaging Materials Catalyzing Growth
The rising demand for solid boards can be attributed to their increasing application for manufacturing packaging and promotional products such as boxes, layer pads, and POP displays. Solid boards are mostly preferred for manufacturing boxes, as they have a flat and compact structure and better printability. Moreover, solid boards are made from recycled paper and are also fully recyclable. Key drivers driving the growth of the solid board market are point-of-sale appeal and cost-effective packaging solutions, coupled with sustainability offered by solid boards over alternatives such as plastic or metal products. Moreover, rising consumer preference for eco-friendly products has boosted the demand for solid boards for manufacturing packaging & promotional products on a global scale.
On the back of these factors, the solid board market is projected to register a CAGR of 4.3% during the forecast period, and reach a valuation of US$ 13.2 Bn by 2029.
Key Insights of Solid Board Market Study
For More Detailed Insights on Solid Board MarketRequest a sample
- Solid board made from virgin paper holds more than half of the total market share among all segments by material type in the global solid board market, as this type can be easily be cut and is suitable for printing. This segment is estimated to expand 1.2X its current value by 2023.
- As per FMI analysis, the boxes segment is identified as the most preferred application of solid boards for packaging, as consumers are concerned about the environmental impact of packaging waste.
- The food & beverage industry is projected to remain the key consumer for players in the solid board market during the forecast period, and is expected to grow by 1.5X its current value by 2029. Increased consumption of food & beverages such as fresh produce and frozen food in developed countries is anticipated to accelerate the demand for solid boards during the forecast period.
Solid Board Market: Competition Landscape
Smurfit Kappa Group, International Paper, VPK Packaging Group NV, Metsä Board, and Sappi Limited are tier-1 market players operating in the global solid board market. Holmen Group, Billerudkorsnas AB, Mugler Masterpack Crimmitschau GmbH, WestRock Company, and Stora Enso have been identified as tier-2 market players in the global market. However, several unorganized and regional manufacturers may enter the solid board market through mergers or collaborations to compete with global players.
About Solid Board Market Report
Future Market Insights, in its new report, offers an unbiased analysis of the global solid board market, analyzing historical demand from 2014-2018 and forecast statistics for 2019-2029. The study reveals growth projections of the solid board market on the basis of material type (recycled paper and virgin paper), weight (up to 200 GSM, 201-300 GSM, 301-500 GSM, and above 500 GSM), application (boxes, pop displays, edge protectors, trays, and layer pads), and end-use industry (food & beverages, electrical & electronics, healthcare & pharmaceuticals, cosmetics & personal care, building & construction, tobacco packaging, and other industrial packaging), across seven regions.
For additional information, write to the analyst at email@example.com
About Packaging division of FMI
The Packaging division at FMI provides an in-depth historical analysis and granular projections of the global packaging market. Ranging from packaging materials to designs & formats, FMI has an exhaustive market research database, serving clients with unique offerings and strategic recommendations. With a repository of 750+ reports, the team analyzed the packaging industry comprehensively in 70+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously track emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.