Market Size of Solid Board Packaging Industry
| 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 |
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.
