The global boxboard packaging market is expected to be valued at US$ 62.1 billion in 2023. Advancements in sustainability certification, bolsters the overall scope for boxboard packaging market, which is projected to grow at a CAGR of 6.5% between 2023 and 2033, totalling around US$ 116.7 billion by 2033.
Innovation in design and printing is a significant factor driving the growth of the boxboard packaging market. Advancements in printing technologies, such as digital printing, offset printing, and flexography, have revolutionized the way designs are applied to boxboard packaging, which has opened up new possibilities for creative and visually appealing packaging solutions, contributing to enhanced product presentation and increased consumer engagement.
Future Market Insights says, Boxboard packaging can now feature intricate patterns, vibrant colours, and lifelike images, with high-quality graphics and finishes. Brands can leverage these capabilities to create visually stunning packaging that captures consumers’ attention and leaves a lasting impression.
Packaging is a crucial component of brand identity. Innovations in design and printing enable brands to showcase their logos, slogans, and distinctive visuals on boxboard packaging, reinforcing brand recognition and recall among consumers.
Advanced printing technologies allow for greater customization and personalization options. Brands can create unique packaging designs for different product variants or seasonal promotions, catering to specific consumer preferences and enhancing the overall customer experience.
Innovative designs on boxboard packaging can effectively convey the product’s story and brand values. Intricate illustrations and graphics can depict the product’s ingredients, origin, or usage, creating an emotional connection with consumers and building brand loyalty.
What is Primarily Driving the Market for Boxboard Packaging?
The growth in food delivery and takeout services has become a significant driver for the increasing demand for boxboard packaging in the food industry. Foodservice establishments are adapting to meet the demands, as consumer preferences shift towards convenience and the on-the-go lifestyle becomes more prevalent. The shift has also led to a surge in the popularity of food delivery and takeout services, and boxboard packaging has emerged as a preferred solution for packaging restaurant meals and prepared foods.
Boxboard packaging offers a high level of convenience for both restaurants and consumers. For restaurants, these containers and trays are easy to store, assemble, and stack, simplifying the packaging process. For consumers, boxboard packaging is user-friendly, providing a hassle-free experience when handling and consuming the food.
Boxboard packaging is designed to maintain the freshness and integrity of the food during transportation. It offers good insulation, preventing heat loss or gain and helping to preserve the temperature and quality of the food, which ensures that customers receive their orders in optimum condition, enhancing the overall dining experience. Many boxboard containers come with leak-resistant properties, making them suitable for various types of cuisines, including dishes with sauces or gravies. The feature is essential for food delivery services to prevent spills or leaks during transit, avoiding potential complaints and ensuring customer satisfaction.
Customization and Branding to Fuel Market Growth
Customization and branding have become essential strategies for brands to differentiate themselves and connect with their target audience. Boxboard packaging offers a versatile canvas for customization, allowing businesses to create visually appealing and unique packaging solutions that reflect their brand identity and messaging.
Customized boxboard packaging provides an excellent opportunity for brands to showcase their logos, slogans, and other branding elements prominently. A well-designed and eye-catching package stands out on the store shelves, catching the attention of consumers and reinforcing brand recognition.
The unboxing experience has become a critical aspect of the customer journey, with the growth of e-commerce and the increasing popularity of online shopping. Brands are leveraging boxboard packaging to create an immersive and enjoyable unboxing experience for their customers. The use of creative designs, vivid colours, and engaging graphics enhances the excitement and anticipation of opening the package.
Boxboard packaging can be used as a storytelling tool, enabling brands to communicate their values, mission, and product stories. Brands can use the packaging to convey their commitment to sustainability, social causes, or product innovation, resonating with consumers who align with those values.
Region-wise Insights
What is the Regional Outlook of the Boxboard Packaging Market?
The boxboard packaging market is anticipated to witness growth globally. Geographically, Asia Pacific is a region where the sales of boxboard packaging will grow at an exponential rate in the coming years due to developing countries like India and China, where food and beverages, electronics, FMCG, and pharmaceutical industries are emerging due to economic development. The region is expected to hold a CAGR of 6.4% over the analysis period.
The European region will display rapid growth in the demand for boxboard packaging at a moderate and steady pace because of the paper recycling regulations imposed by the government. In North America, the sales of boxboard packaging are likely to exhibit a slow growth rate due to the matured market demand.
Competitive Landscape
Key players in the boxboard packaging market are strongly focusing on profit generation from their existing product portfolios along while exploring potential new applications.
The players are emphasizing on increasing their boxboard packaging production capacities, to cater to the demand from numerous end use industries. Prominent players are also pushing for geographical expansion to decrease the dependency on imported boxboard packaging.
Recent Developments:
· In 2023, Tetra Pak announced the launch of its new line of aseptic boxboard packaging. The new packaging is designed to extend the shelf life of food products and reduce food waste.
· In 2023, Amcor announced the launch of its new line of compostable boxboard packaging. The new packaging is made from compostable materials and can be disposed of in industrial composting facilities.
· In 2022, Dart Container Corporation announced the acquisition of Sonoco, a leading manufacturer of packaging solutions. The acquisition is expected to offer Dart Container Corporation, a larger market share in the boxboard packaging market.
· In 2021, Smurfit Kappa announced the launch of its new line of sustainable boxboard packaging. The new packaging is made from recycled materials and is recyclable in standard paper recycling streams.
These insights are based on a report Boxboard Packaging Market by Future Market Insights.