Solid Board Packaging Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR (2024 - 2029) | 3.78 % |
| Fastest Growing Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Solid Board Packaging Market Analysis
The Solid Board Packaging Market size in terms of shipment volume is expected to grow from 51.22 Million tons in 2024 to 61.67 Million tons by 2029, at a CAGR of 3.78% during the forecast period (2024-2029).
- Solid board packaging material is witnessing a surge in demand, attributed to its strength, lightweight nature, and cost-effectiveness. Commonly used for transporting sensitive items, it ensures their safety and security. Additionally, it is widely adopted as secondary and tertiary packaging for end users, spanning food, beverages, medical and healthcare supplies, electronics, and other fragile goods.
- Solid board materials' robust sturdiness and rigidity make them perfect for safeguarding fragile or heavy items during storage and transportation. With rising awareness of the environmental repercussions of packaging, consumers and businesses across developed countries of Europe, the Americas, and Asia are leaning toward solid board materials crafted from recycled paper fibers, echoing the broader push for sustainable solutions.
- Moreover, the market is largely fueled by its increasing adoption in the food industry. Solid boards are a popular choice for food packaging, offering a robust barrier against moisture, light, and oxygen, thereby preserving the food's freshness and quality.
- According to the Organic Trade Association, the value of organic packaged food in the United States is expected to move up from USD 17,459.6 million to a whopping USD 25,060.4 million. This increase in the trend of organic food packaging is expected to bolster the demand for eco-friendly packaging materials during the forecast period.
- Manufacturing companies are prioritizing the creation of innovative solutions that minimize environmental impact, all while maintaining high-performance standards. Further, the surge in e-commerce and online retailing has amplified the demand for solid board packaging, known for its cost-effectiveness and superior protection during shipping.
- However, as demand for paper board products surges, global production is projected to double by 2050. The World Wildlife Fund (WWF) reports that annually, approximately 405 million tonnes of paper and paperboard are produced, accounting for about 13% to 15% of total wood consumption. The production of paper and paperboard leaves a considerable environmental footprint. Unsustainable practices in paper production and consumption lead to deforestation and degradation of vital ecosystems.
Solid Board Packaging Market Trends
Rising Demand From the Ecommerce Sector Boosts the Top-Line
- Packaging plays a pivotal role in e-commerce, influencing everything from goods protection and environmental considerations to transportation, storage, marketing, and advertising. As e-commerce packages can be handled 20 times or more during standard distribution, the logistics chain for direct-to-consumer delivery has grown. This heightened complexity has spurred a demand for cost-effective secondary solid board packaging material.
- Since the onset of the COVID-19 pandemic, the demand for solid boards in online secondary and tertiary packaging has surged. Amazon's recent Prime Day underscores the pivotal role of online retail sales in today's economy. Shipping boxes from Amazon and other retailers not only symbolize the e-commerce boom but also stand as a primary driver for the global demand growth of containerboard and solid board.
- As reported by the US Census Bureau, retail e-commerce sales in the United States hit an estimated USD 275 million in 2023, a substantial rise from USD 142 million in 2019. The growing incorporation of technology into everyday activities has propelled e-commerce's soaring popularity. It can be expected that a notable increase in e-commerce users in the United States will bolster the demand for robust secondary and tertiary packaging solutions for solid boards.
- With the rising demand for eco-friendly material, e-commerce sales have surged, outpacing projections by over two years. In contrast, the paper board industry is grappling to match this pace. While paper mills are running at full throttle, certain producers are not only capping orders but also turning to smaller firms for outsourcing. As consumers increasingly gravitate toward e-commerce, sidelining traditional brick-and-mortar stores, the demand for solid boards is poised to keep climbing.
- Several manufacturers across the globe are innovating several solid board packaging options for online end-users. For instance, in the recent past, Kite Packaging launched e-commerce solid board boxes and food boxes that are perfect for packing moist and chilled solutions, even in humid conditions. Such developments across the market may propel the demand for solid board packaging in the coming years.
Asia-Pacific To Hold Strong Position in the Market
- Asia-Pacific is poised to dominate the solid board market, driven by surging demand for packaged food products in nations like China and India. This trend is expected to position Asia-Pacific as the leading player in the market during the forecast period.
- As per the Retailers Association of India, the value of packaged food in India is expected to grow consistently from INR 3,615 billion (USD 43.05 billion) in 2020 to an expected value of INR billion 5,798 (USD 69.05 billion) in 2026. With the growing market for packaged food, there would be a proportionate opportunity for solid board material for packaging.
- In recent years, developed regions have increasingly embraced gadgets and appliances, while China has emerged as a leading global exporter of electronics. These appliances require robust protection from external damage and shocks due to their heightened sensitivity. This demand creates lucrative opportunities for suppliers of solid board packaging in China.
- According to Shanghai.gov data, the Chinese consumer electronics market was projected to register retail sales of CNH 2.2 trillion (USD 305 billion) in 2023, marking a 4% increase Y-o-Y. The growth rate is anticipated to accelerate to 5% in 2024. Such consistent growth in the consumer electronics sector is expected to propel the demand for solid board packaging in the coming years.
- Moreover, Asian governments, notably in India and China, have been vigorously stepping toward anti-plastic packaging campaigns. These initiatives are likely driving the demand for sustainable solid board packaging materials. For instance, in 2022, India implemented a ban on single-use items, including plastic bags and food packaging. This created a positive impact on the demand for solid board materials for packaging across the country.
Solid Board Packaging Industry Overview
The solid board packaging market is fragmented, as many players have a presence through their offerings. With innovations and demand, the market is attractive for new players.
- April 2024: LEIPA, in collaboration with packaging.digital and Xeikon, introduced a digitally printable solid board substrate. This innovation enables the direct application of personalized images, barcodes, sequential numbers, and other features onto carton packaging. This range includes two types of grey board, brown natron board, and graphic solid boards (both triplex and duplex) in various white tones, all with the flexibility of short-notice orders.
- January 2024: VPK Group, a prominent manufacturer of solid boards, entered a joint venture with IEMME SRL, an Italian company specializing in cardboard and solid boards and located in Gambolò, near Milan. This marked VPK Group's second strategic move in Italy, allowing the company to diversify its product offerings and bolster its presence in the region.
Solid Board Packaging Market Leaders
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Smurfit Westrock plc
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DS Smith Plc
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VPK Group
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UNIPAKNILE Ltd
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LEIPA Group
*Disclaimer: Major Players sorted in no particular order
Solid Board Packaging Market News
- February 2024: Schubert, a key player in packaging solutions, unveiled Dotlock, an innovative technology enabling the production of entirely glue-free cardboard packaging. Dotlock is applicable in all scenarios involving solid board packaging. This cutting-edge packaging technology is particularly suited for trays, base lid applications, and gable top packaging, which are common formats for packaging food items, baked goods, and confectioneries.
Solid Board Packaging Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumption and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Industry Attractiveness - Porter's Five Forces Analysis
- 4.2.1 Bargaining Power of Suppliers
- 4.2.2 Bargaining Power of Buyers
- 4.2.3 Threat of New Entrants
- 4.2.4 Threat of Substitute Products
- 4.2.5 Intensity of Competitive Rivalry
- 4.3 Industry Value Chain Analysis
- 4.4 Impact of Current Geo-Political Scenario on the Market
5. MARKET DYNAMICS
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5.1 Market Drivers
- 5.1.1 Growing Demand For Food-Safe and Environmentally Friendly Material Across the Globe
- 5.1.2 Constant Demand From the E-commerce Sector Drives the Market
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5.2 Market Challenges
- 5.2.1 Environmental Concerns Related to Deforestation and Nature Degradation
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5.3 Pricing Trend Analysis
- 5.3.1 Paper and Paper Board (Current Pricing and Historic Trends)
6. COVERAGE ON SUBTRATE TYPES
7. MARKET SEGMENTATION
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7.1 By Material
- 7.1.1 Virgin
- 7.1.2 Recycled
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7.2 By End User
- 7.2.1 Food
- 7.2.2 Beverage
- 7.2.3 Healthcare and Pharmaceutical
- 7.2.4 Personal Care and Toiletries
- 7.2.5 Consumer Electronics
- 7.2.6 Tobacco Packaging
- 7.2.7 E-commerce
- 7.2.8 Other End Users
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7.3 By Geography***
- 7.3.1 North America
- 7.3.1.1 United States
- 7.3.1.2 Canada
- 7.3.2 Europe
- 7.3.2.1 France
- 7.3.2.2 Germany
- 7.3.2.3 Italy
- 7.3.2.4 United Kingdom
- 7.3.2.5 Spain
- 7.3.2.6 Poland
- 7.3.2.7 Nordic
- 7.3.3 Asia
- 7.3.3.1 China
- 7.3.3.2 India
- 7.3.3.3 Japan
- 7.3.3.4 Thailand
- 7.3.3.5 Australia and New Zealand
- 7.3.3.6 Indonesia
- 7.3.3.7 Vietnam
- 7.3.4 Latin America
- 7.3.4.1 Brazil
- 7.3.4.2 Mexico
- 7.3.4.3 Colombia
- 7.3.5 Middle East and Africa
- 7.3.5.1 United Arab Emirates
- 7.3.5.2 Saudi Arabia
- 7.3.5.3 Egypt
- 7.3.5.4 South Africa
- 7.3.5.5 Nigeria
- 7.3.5.6 Morocco
8. COMPETITIVE LANDSCAPE
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8.1 Company Profiles*
- 8.1.1 Smurfit Westrock PLC
- 8.1.2 DS Smith PLC
- 8.1.3 UNIPAKNILE Ltd
- 8.1.4 VPK Group
- 8.1.5 LEIPA Group
- 8.1.6 De Jong Packaging
- 8.1.7 Günter Hoffmann GmbH & Co. KG
- 8.1.8 Swt Paper AB
- 8.1.9 Royalpack Sp. z o.o.
- 8.1.10 Anderton Board and Packaging Ltd
- 8.1.11 DE-PACK GmbH & Co. KG.
- 8.1.12 Shanghai DE Printed Box.
- 8.2 Heat Map Analysis
- 8.3 Competitor Analysis - Emerging vs. Established Players
9. RECYCLING & SUSTAINABILITY LANDSCAPE
10. FUTURE OUTLOOK
** Subject To AvailablitySolid Board Packaging Industry Segmentation
The solid board packaging material is used for a comprehensive range of end-users, including food, beverage, pharmaceutical, and e-commerce. The solid board packaging market report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. The study also identifies the continuous development of new products as one of the prime reasons driving the solid board packaging market growth during the next few years.
The solid board packaging market is segmented by material (virgin and recycled), end user (food, beverage, healthcare and pharmaceutical, personal care and toiletries, consumer electronics, tobacco packaging, e-commerce, and other end users), and geography (North America [United States and Canada], Europe [United Kingdom, Germany, France, Italy, Spain, Poland, Nordics, and the Rest of Europe], Asia-Pacific [China, India, Japan, Indonesia, Vietnam, Australia and New Zealand, and the Rest of Asia-Pacific], Latin America [Brazil, Columbia, Mexico, and the Rest of Latin America], and the Middle East and Africa [Saudi Arabia, United Arab Emirates, South Africa, Egypt, Nigeria, Morocco, and the Rest of Middle East and Africa]. The report offers market forecasts and size in volume (tons) for all the above segments.
| By Material | Virgin | |
| Recycled | ||
| By End User | Food | |
| Beverage | ||
| Healthcare and Pharmaceutical | ||
| Personal Care and Toiletries | ||
| Consumer Electronics | ||
| Tobacco Packaging | ||
| E-commerce | ||
| Other End Users | ||
| By Geography*** | North America | United States |
| Canada | ||
| By Geography*** | Europe | France |
| Germany | ||
| Italy | ||
| United Kingdom | ||
| Spain | ||
| Poland | ||
| Nordic | ||
| By Geography*** | Asia | China |
| India | ||
| Japan | ||
| Thailand | ||
| Australia and New Zealand | ||
| Indonesia | ||
| Vietnam | ||
| By Geography*** | Latin America | Brazil |
| Mexico | ||
| Colombia | ||
| By Geography*** | Middle East and Africa | United Arab Emirates |
| Saudi Arabia | ||
| Egypt | ||
| South Africa | ||
| Nigeria | ||
| Morocco |
Solid Board Packaging Market Research FAQs
How big is the Solid Board Packaging Market?
The Solid Board Packaging Market size is expected to reach 51.22 million tons in 2024 and grow at a CAGR of 3.78% to reach 61.67 million tons by 2029.
What is the current Solid Board Packaging Market size?
In 2024, the Solid Board Packaging Market size is expected to reach 51.22 million tons.
Who are the key players in Solid Board Packaging Market?
Smurfit Westrock plc, DS Smith Plc, VPK Group, UNIPAKNILE Ltd and LEIPA Group are the major companies operating in the Solid Board Packaging Market.
Which is the fastest growing region in Solid Board Packaging Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
What years does this Solid Board Packaging Market cover, and what was the market size in 2023?
In 2023, the Solid Board Packaging Market size was estimated at 49.28 million tons. The report covers the Solid Board Packaging Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Solid Board Packaging Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Solid Board Packaging Industry Report
Statistics for the 2024 Solid Board Packaging market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Solid Board Packaging analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
