Fiberboard Packaging Market Snapshot (2023 to 2033)
According to Future Market Insights Research, fiberboard packaging is projected to be worth US$ 326.5 billion in 2023, and further, expand at a CAGR of 3.4 % to reach US$ 456.2 billion by the year 2033. The sales of fiberboard packaging are projected to propel the top 5 companies holding around 15 to 20% of the global fiberboard packaging market by the end of 2022.
Based on the material, corrugated fiberboard will be the leading segment in fiberboard packing due to its cost-effectiveness, sustainability & eco - friendly nature. It is expected to expand 1.3 times the current market value from 2023 to 2033.
Attributes
Details
Market Size 2023
US$ 326.5 billion
Market Size 2033
US$ 456.2 billion
Value CAGR (2023 to 2033)
3.4%
Collective Value Share: Top 3 Countries (2022E)
25 to 30%
The global fiberboard packaging market reached US$ 316.4 million for the year 2022, according to FMI analysis. The demand for the fiberboard packaging market is estimated to bolster with the top 3 countries estimated to hold approximately 25-30% of the global fiberboard packaging market by the end of 2023.
The fiberboard packaging market is projected to witness a growth outlook during the forecastable period. A new forecast by FMI anticipates that the fiberboard packaging market will rise from 2023 to 2033 and is anticipated to offer a growth opportunity of US$ 139.8 billion.
The increased need for safety, sustainability & recyclable packaging to ensure a quality product to the consumer has fuelled the demand for fiberboard packaging. The fiberboard packaging market is anticipated to expand 1.4 times the current market value during the forecast period.
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
Historic Market Outlook for Fiberboard Packaging
The global fiberboard packaging market witnessed a CAGR of 3.1 % during the historic period with a market value of US$ 316.4 billion in 2022.
Fiberboard packaging is used in various applications due to its segments like particle board, low-density board (LDB), medium-density board, and corrugated fiberboard. Fiberboard Packaging is majorly used by Construction, Residential & Food & Beverage Industries. Due to its Impeccable properties like strength, heatproof, water resistance & high Porosity have gained popularity in the market. Fiberboard Packaging is made with innovations like 100% Recyclable, swell proof, and sustainable making it eco-friendlier. Moreover, with the high preference for hygiene packaging, fiberboard packaging is gaining popularity as it reduces the chance of contamination due to the Elimination level of Bacteria & microbes.
What are the growth driven factors for the Fiberboard Packaging Market?
The food and beverage industry is expanding due to the rising consumption of carbonated drinks, alcoholic beverages, healthy-packed food items, and others. The increasing food & beverage consumption results in high demand for packaging solutions that are best suitable and convenient as well as self-appealing. This drives the demand for fiberboard packaging. The demand for liquid cartons augmented due to the rising consumption of beverage items especially milk, carbonated drinks, and others which propelled the demand for fiberboard packaging solutions. Customization is also possible on fiberboard packaging which results in attractive packaging solutions. Thus, the rising demand for convenient and self-appealing packaging solutions in the food & beverages industry propels the demand for fiberboard packaging
Find your sweet spots for generating winning opportunities in this market.
Category-wise Insights
Which Board type in the Fiberboard Packaging Market is Accounting for the Major Share?
On the basis of board type, corrugated fiberboard packaging is anticipated to hold a 31% market share from 2023 to 2033.
The changing consumer purchase pattern results in the shifting packaging need as well. Various sectors opt for sustainable, eco-friendly, protective, durable, and cost-effective packaging solutions keeping in mind the consumer requirement for packaging.
Which End-Use Segment Generates Sturdy Demand for the Fiberboard Packaging?
The food & beverages segment is projected to generate hefty demand for fiberboard packaging during the forecast period. The food & beverages segment is estimated to hold around 44% of the market value share by the end of 2033. The increasing consumption of packed food and the trend for rigid sustainable packaging is supplementing the sales of fiberboard packaging in the food & beverage industry.
Country-wise insights
How does the USA Create a Growth Opportunity for Fiberboard Packaging?
The USA is expected to hold around 79% of the North American fiberboard packaging market by the end of the forecast period. According to the National Retail Federation (NRF), retail sales in the USA grew by around 6.7% in 2020. The growing retail sector creates demand for self-appealing, convenient, cost-effective, and lightweight packaging solutions such as fiberboard packaging. Fiberboard trays are easy to display on the shelf without consuming more space which bolsters the demand for the retail sector.
How does Mexico Create a Growth Opportunity for Fiberboard Packaging?
According to the Mexican Online Sales Association, in 2020 the domestic e-commerce in Mexico was valued at US$ 15.8 billion, an increase of over 80 percent from 2019. The e-commerce users in Mexico increased by 9% in 2020 from 2019. The expanding e-commerce sector in Mexico bolsters the demand for fiberboard packaging. Besides this, in 2019 the e-commerce shipment accounts for 67.8% of the overall manufacturing shipment in the USA according to the U.S. Census Bureau, there was an increase in e-commerce shipments in 2019 from 2018. Overall, the jump in e-commerce market growth in the USA and Mexico fuels the demand for fiberboard packaging.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need and save 40%!
Competitive Landscape
The key players are focusing on innovative packaging solutions for fiberboard packaging. To achieve set goals, companies are merging with big players to increase their market share. The acquisition of small companies is also being done by big packaging giants. Investment in research and development amid strive for innovative packaging is also being done by the companies. Some of those Innovations are as under-
In August 2022, Flexi-Hex U.S based company Launched honeycomb Sleeve packing which expands 35 times compared to Compresses foam.
In November 2022, Graphic Packaging International was awarded the Grooming Excellence award by P&G Named Above & Beyond in Delivering Value.
Scope of the Report
Attribute
Details
Growth Rate
CAGR of 3.4 % from 2023 to 2033
Base Year for Estimation
2022
Historical Data
2018 to 2022
Forecast Period
2023 to 2033
Quantitative Units
Revenue in USD Billion, Volume in Units, and CAGR from 2023 to 2033
Report Coverage
Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis
By Board Type, Fiberboard Packaging Market is Segmented as:
Particle Board
Medium Density Fiberboard
High-Density Fiberboard
Corrugated Fiberboard
By Products Type, Fiberboard Packaging Market is Segmented as:
Boxes & Cartons
Trays & Clamshell
Dividers
Drums
Pallets
Cups & Bowls
By End Use, Fiberboard Packaging Market is Segmented as:
Automotive & Allied Industries
Electrical & Electronics
Food & Beverages
Healthcare
Cosmetics & Personal Care
Other Consumer Goods
Frequently Asked Questions
What was the value of the fiberboard packaging market in 2022?
In 2022, the value of the global fiberboard packaging market was US$ 316.4 billion.
At what rate is the global fiberboard packaging is projected to expand during the forecast period?
During the forecast period, global fiberboard packaging is anticipated to expand at a CAGR of 3.4%.
By 2033, what will the value of the global fiberboard packaging market?
The global fiberboard packaging market is expected to reach US$ 456.2 billion by the end of 2033.
What drives the demand for fiberboard packaging?
The upward trend in demand from the Food & Beverage Industry is creating a growth platform for fiberboard packaging.
Which are the top players supplementing the sales of fiberboard packaging?
The top players supplementing the sales of fiberboard packaging are Graphic Packaging International, Westrock Company, Smurfit Kappa Group plc, Stora Enso Oyj, International Paper Company, Huhtamaki Oyj, DS Smith plc, and Oji Holding Corporation.
At what rate is the Indian fiberboard packaging market projected to grow?
As per the FMI analysis, the Indian fiberboard packaging market is projected to expand at a CAGR of 4.1 % from 2023 to 33.
