The Containerboard Market size is observed to grow at a CAGR of 5.9% during the forecast period 2022-2027 and will reach an estimated revenue of US$256.2 billion by 2027. The containerboard is light weighted, has high grammage, durability and versatility owing to which paperboard type is mainly used for making corrugated boxes and containers which are used for packaging applications in major sectors such as food & beverages. The rapid consumption of food items such as fruits and vegetables owing to population growth and the increase in disposable incomes of the middle-class segment has increased the production of such items. According to Eurostat, in 2020, the total fruit production in Europe stood at 42.7 million tons, showing a 4% increase in production level in comparison to 2017. With such an increase in fruit production, the demand and usage of containerboard for packaging such food items has also accelerated which is primarily contributing to the market growth of containerboard. 

Containerboard Market: Leading Segment is Food & Beverages

Based on the end-use industry the Containerboard market can be segmented into food & beverages, cosmetics & personal care, pharmaceuticals, textiles industry, electrical & electronics and others. The containerboard market’s leading segment is evaluated to be food & beverages and during the forecast period 2022-2027, the food & beverages segment is expected to grow at a CAGR of 6.5%. This can be attributed to the factors such as favorable government policies and planned investment inflows in the sector coupled with the growing consumption of consumers, which has increased the production of food items. According to the data provided by Eurostat, in 2020, vegetable production in Europe stood at 43.8 million tons, showing a 1.4% increase in production level in comparison to 2017. Furthermore, according to the US Department of Agriculture, in 2021, broiler production in the U.S. grew by 21% in comparison to the last eight years. Such bolstering growth in the food & beverages sector simultaneously increased the demand and usage of containerboard in the sector for packaging applications.

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Containerboard Market: Leading Segment is the Asia-Pacific

Based on geography the Containerboard market can be segmented into North America, South America, Europe, APAC and the Rest of the World. According to the analysis, in 2021, the Asia-Pacific region emerged as the most prosperous region in the market and held a 39.7% share of the total revenue earned by the market globally. Production of major food items such as poultry have shown a significant increase in the region owing to the growing consumption pattern of the consumers. For instance, according to the U.S., Department of Agriculture, in 2020, poultry production in China stood at 14.85 million tons, showing an 18% increase in comparison to 2019. Furthermore, according to India’s Ministry of Commerce and Industry/Agricultural and Processed Food Products Export Development Authority, in 2019 India’s poultry production stood at 4.1 million tons showing a 10.8% increase in comparison to 2018. Such an increase in the production of major food items has boosted the demand for containerboard in the Asia-Pacific region. 

Containerboard Market: Competitive Landscape

Key companies holding a major share in the Containerboard market are Mondi Group, SCG Packaging Public Company, Smurfit Kappa, Oji Fiber Solutions, WestRock Company, Paper Excellence Group, Nine Dragon Paper Limited, International Paper, Lee & Man Paper Manufacturing Ltd, D.S Smith.

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