The global Containerboard Market size is projected to reach USD 142.03 billion by 2027 owing to the rising demand for sustainable packaging worldwide. Containerboards are paperboards used generally for packaging material due to their properties such as lightweight and paperweight, or high grammage. A recently published report by Fortune Business Insights™ titled, “Containerboard Market Size, Share & Industry Analysis, By Material (Virgin, and Recycled), By End-User (Food & Beverage, Personal Care & Cosmetics, Industrial, and Others), and Regional Forecast, 2020-2027,” offers a qualitative and quantitative analysis of the market. As per this report, the value of the market stood at USD 120.60 billion in 2019 and will exhibit a CAGR of 2.1% between 2020 to 2027.
Containerboard Market Drivers and Restraints :
With rapid industrialization, there is an increasing need for sustainable packaging from various sectors such as cosmetics, food and beverage, pharmaceutical, personal care, and others. This stands as a major factor in boosting the containerboard market growth.
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List of Significant Manufacturers Containerboard market are:
- Stora Enso
- Nine Dragons Paper (Holdings) Limited
- Hamburger Containerboard
- Georgia-Pacific LLC
- Rengo Co., Ltd.
- WestRock Company
- Oji Fibre Solutions (NZ) Ltd.
- International Paper
- Smurfit Kappa
- Lee & Man Paper Manufacturing Ltd.
- DS Smith
- SCG PACKAGING PUBLIC COMPANY LIMITED
- Mondi Group
- Other Players
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Asia Pacific to Continue its Dominance with China on the Lead
Asia Pacific is dominating the market with a revenue of USD 53.13 billion earned in 2019. The growth of this region is attributed to the rapid industrialization activities, coupled with a rise in the preference for ready-to-eat and packaged food and beverages.
Some of the key industry developments in the Containerboard Market Include:
June 2020 – Mondi Group acquired Powerflute for USD 398 million for increasing the annual production capacity.
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