Carton Board Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 71.93 Billion |
| Market Size (2029) | USD 98.41 Billion |
| CAGR (2024 - 2029) | 6.47 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Carton Board Market Analysis
The Carton Board Market size is estimated at USD 71.93 billion in 2024, and is expected to reach USD 98.41 billion by 2029, growing at a CAGR of 6.47% during the forecast period (2024-2029).
- A carton board container is made from paperboard, which comprises three or more layers of pliers of cellulose fiber made from wood. The growing popularity of carton boards is attributable to their sturdy and rigid properties, thus boosting product demand. The rising use of carton boards for shipping, storage, and packaging purposes for multiple end-user industries is driving market growth.
- The carton board market is significantly influenced by the booming e-commerce industry, driven by evolving consumer behavior, rising urbanization, and the increasing purchasing power of the population. Furthermore, environmentally conscious consumers are favoring eco-friendly products, leading to a voluntary shift toward sustainable packaging like paperboard, which is gaining market acceptance rapidly.
- The packaging industry, being ever-evolving, has been impacted by technological advancements in two significant ways: the rising demand for packaging in e-commerce and the integration of sensors and other technologies into packaging materials. E-commerce has brought forth new packaging concerns such as product safety, unpacking experiences, anti-counterfeiting measures, optimization for final delivery, and a growing interest, especially among major e-commerce retailers, in merging primary and secondary packaging.
- The growing demand for paper-based packaging as a sustainable alternative to plastic packaging is contributing to market growth. Carton board has a low carbon footprint compared to other packaging materials, which has increased its popularity among manufacturers. The use of carton board packaging for pharmaceutical applications is growing as it provides a high moisture barrier and good surface properties for printing.
- In recent years, the price of paper has soared due to factors like increasing demand, availability issues, and other market changes in the pulp and paper industry. Also, the supply shortages of paper due to disruptions in the supply chain, including raw material shortages and transportation problems, can hamper product availability. This supply-demand imbalance significantly escalated paper prices, highlighting the industry's challenges influenced by economic recovery and supply chain dynamics.
Carton Board Market Trends
The Beverage Segment is Expected to Record the Fastest Growth
- The growing consumer demand for beverages such as fruit juices, alcoholic beverages, and carbonated drinks drives the demand for carton board packaging. The beverage industry is becoming increasingly dynamic, providing manufacturers with several growth opportunities to invest in innovative packaging needs in the beverage industry. Carton board provides high resistance to humidity that ensures the freshness and flavors of the beverages, lengthening the products' shelf-life.
- Solid unbleached sulfate (SUS), or unbleached kraft paperboard, is a strong and printable material commonly used in the packaging industry. It is often used to make beverage boxes and containers, combining Kraft paper's sturdiness with a white finish. One side of the board is typically coated with a clay coating to make it suitable for printing.
- For many years, efforts have been made to increase the ability to recycle beverage containers. This has been achieved through joint investments with recyclers, technology suppliers, and equipment providers to build new facilities. In June 2023, Tetra Pak and Stora Enso invested roughly EUR 29 million (USD 31.5 million) in a new recycling line for beverage cartons in Poland. This line was intended to multiply the country's yearly recycling capacity of beverage cartons - from 25,000 to 75,000 tonnes.
- Various companies in the packaging industry invest in manufacturing sustainable cartons for beverages. As a member of the Alliance for Beverage Cartons and the Environment (ACE), Tetra Pak is dedicated to achieving the industry objective of having a 90% collection rate and a 70% recycling rate for beverage cartons in the EU by 2030.
- Liquid carton boards/tetra packs are one of the fastest-growing packaging types, driven by non-alcoholic beverages. According to the US Department of Agriculture (USDA), in 2023, the United States exported fruit and vegetable juices totaling a value of USD 926.7 million, with the top countries being Canada, Mexico, and Japan.
- Awareness regarding recyclable packaging material and the robust recyclability feature of carton boards is rising. In February 2023, Tetra Pak and Save Board disclosed one of the first beverage carton recycler facilities in New South Wales, Australia. This was a major accomplishment toward the collective environmental objectives. It was the first of its kind in the country; it reuses the cartons to create low-carbon building materials for homes and offices without consuming any extra water, adhesives, or chemicals, thus making it a sustainable product.
Asia-Pacific is Expected to Hold a Significant Market Share
- China's market for carton board packaging is projected to grow due to the growing urban population, an evolving e-commerce package industry, declining pulp prices, and improving awareness of the use of eco-friendly packaging. The growing pharmaceutical and e-commerce industry in the country is boosting the demand for carton board packaging. According to the International Trade Administration, Alibaba, JD.com, and Pinduduo are the domestic online platforms that dominate the country's e-commerce market.
- The Chinese packaging sector continues to evolve and become more advanced. For the past few years, most fruit package options have been made of plastic; however, the trend is changing in the region, with regulations changing from plastics to paper and carton packages. In addition, given the increasing concern about safety and environmental protection, safe packaging is set to become a significant focus for food packaging over the next few years.
- India's carton board market's growth is driven by continued demand for quality packaging of various consumer goods products, pharmaceuticals, textiles, organized retail, cosmetics, and e-commerce industries. The growing consumption of fruit pulps, juices, and other concentrates drives the growing demand for carton boards in India. Also, the rapidly growing e-commerce industry in India is expected to boost market growth.
- The growing beverage consumption in Japan due to the rising trend of ready-to-drink beverages and energy drinks drives the market growth. According to the US Department of Agriculture (USDA), coffee, green tea, and carbonated drinks were the most consumed beverages in Japan in 2023. Japan imports non-alcoholic beverages from the United States, boosting the market growth.
- Australia witnessed huge demand for corrugated packaging in the food and beverage, e-commerce, pharmaceutical, and beauty and cosmetics sectors, increasing the demand for secondary packaging, such as folding cartons, in the country. The high consumption of non-alcoholic beverages and the growing food retail sector in the country boosts the demand for packaging. According to the Australian Bureau of Statistics, 14.8 million tons of food and non-alcoholic beverages were sold in 2023, enhancing the packaging industry.
Carton Board Industry Overview
The carton board market is fragmented. Key players include Asia Pulp & Paper Group (APP), Mayr-Melnhof Karton AG (MM Group), Nine Dragons Paper Holdings Limited, Westrock Company, and Graphic Packaging Holding Company. These companies employ strategic maneuvers like partnerships and acquisitions to fortify their product portfolios and secure a lasting competitive edge.
- September 2023: Smurfit WestRock emerged as a sustainability-focused global force following the merger of Smurfit Kappa and WestRock. This consolidation aimed to synergize its paper-based packaging businesses, capitalizing on its complementary strengths to establish a formidable presence in sustainable packaging on a global scale.
- April 2023: Mayr-Melnhof Karton AG (MM Group) greenlit a comprehensive investment initiative designed to fortify Poland's major cardboard and paper mill. Valued at approximately EUR 660 million (USD 721.6 million), this three-part plan entails measures to curtail energy and CO2 expenses, integrate pulp resources, and penetrate the sack kraft paper market. These strategic moves were geared toward positioning the plant for sustained long-term viability and environmental sustainability.
Carton Board Market Leaders
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Asia Pulp & Paper Group (APP)
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Mayr-Melnhof Karton AG (MM Group)
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Nine Dragons Paper Holdings Limited
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Westrock Company
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Graphic Packaging Holding Company
*Disclaimer: Major Players sorted in no particular order
Carton Board Market News
- June 2023: Stora Enso opened a new corrugated board manufacturing facility in De Lier, the Netherlands. The site was part of the De Jong Packaging Group acquisition, later known as the Western Europe business unit within the Packaging Solutions Division. This massive expansion was designed with a strong focus on sustainable operations.
- June 2023: Metsa Group, in collaboration with its innovation company Mets Spring and business partner Fiskars Group, introduced a groundbreaking fiber-based packaging solution called Mouto 3D. This boxboard serves as the outer packaging, providing a visually appealing and high-quality surface that enhances the overall packaging experience. Within the boxboard enclosure, Fiskars' ReNew scissors are housed. These scissors are manufactured using recycled materials.
Carton Board Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
4.4 Impact of the Geo-Political Scenarios on the Market
4.5 Cartonboard - EXIM Analysis
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Strong Demand from the E-commerce Sector
5.1.2 Growing Demand for Lightweight Materials and Scope for Printing Innovations Propelling Growth in the Personal Care Segment
5.2 Market Restraints
5.2.1 Increasing Operational Costs
6. MARKET SEGMENTATION
6.1 By Product Grade
6.1.1 Solid Bleached Board
6.1.2 Solid Unbleached Board
6.1.3 Folding Boxboard
6.1.4 White-lined Chipboard
6.1.5 Liquid Packaging Board
6.1.6 Food Service Board
6.2 By End-User
6.2.1 Beverage
6.2.2 Food
6.2.3 Pharmaceutical and Healthcare
6.2.4 Cosmetics and Toiletries
6.2.5 Tobacco
6.3 By Geography***
6.3.1 North America
6.3.1.1 United States
6.3.1.2 Canada
6.3.2 Europe
6.3.2.1 United Kingdom
6.3.2.2 Germany
6.3.2.3 France
6.3.2.4 Italy
6.3.2.5 Spain
6.3.3 Asia
6.3.3.1 China
6.3.3.2 India
6.3.3.3 Japan
6.3.3.4 Australia and New Zealand
6.3.4 Latin America
6.3.4.1 Brazil
6.3.4.2 Argentina
6.3.4.3 Mexico
6.3.5 Middle East and Africa
6.3.5.1 United Arab Emirates
6.3.5.2 Saudi Arabia
6.3.5.3 South Africa
6.3.5.4 Egypt
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Asia Pulp & Paper Group (APP)
7.1.2 Mayr-Melnhof Karton AG (MM Group)
7.1.3 Nine Dragons Paper Holdings Limited
7.1.4 Westrock Company
7.1.5 Graphic Packaging Holding Company
7.1.6 Stora Enso OYJ
7.1.7 International Paper Company
7.1.8 Metsa Board
7.1.9 Smurfit Kappa Group
7.1.10 Pankaboard OYJ
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
Carton Board Industry Segmentation
Carton board is a type of container made from paperboard and is extensively used for secondary and tertiary packaging. The study covers the carton board market tracked in terms of value. The report analyzes the factors that impact geopolitical developments in the market based on the prevalent base scenarios, key themes, and end-user industries-related demand cycles.
The carton board market is segmented by grade (solid bleached sulfate, solid unbleached sulfate, folding boxboard, white-lined chipboard, liquid packaging board, food service board, and other grades), end-user industry (beverage, food, pharmaceutical and healthcare, cosmetics and toiletries, tobacco, and other end-user industries), and geography (North America (the United States and Canada), Europe (the United Kingdom, Germany, Italy, France, Spain, and Rest of Europe), Asia-Pacific (China, India, Japan, Australia and New Zealand, and the Rest of Asia-Pacific), Latin America (Brazil, Mexico, Argentina, and the Rest of Latin America), and the Middle East and Africa (United Arab Emirates, Saudi Arabia, South Africa, Egypt, and the Rest of the Middle East and Africa)). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
| By Product Grade | |
| Solid Bleached Board | |
| Solid Unbleached Board | |
| Folding Boxboard | |
| White-lined Chipboard | |
| Liquid Packaging Board | |
| Food Service Board |
| By End-User | |
| Beverage | |
| Food | |
| Pharmaceutical and Healthcare | |
| Cosmetics and Toiletries | |
| Tobacco |
| By Geography*** | |||||||
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Carton Board Market Research Faqs
How big is the Carton Board Market?
The Carton Board Market size is expected to reach USD 71.93 billion in 2024 and grow at a CAGR of 6.47% to reach USD 98.41 billion by 2029.
What is the current Carton Board Market size?
In 2024, the Carton Board Market size is expected to reach USD 71.93 billion.
Who are the key players in Carton Board Market?
Asia Pulp & Paper Group (APP), Mayr-Melnhof Karton AG (MM Group), Nine Dragons Paper Holdings Limited, Westrock Company and Graphic Packaging Holding Company are the major companies operating in the Carton Board Market.
Which is the fastest growing region in Carton Board Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Carton Board Market?
In 2024, the North America accounts for the largest market share in Carton Board Market.
What years does this Carton Board Market cover, and what was the market size in 2023?
In 2023, the Carton Board Market size was estimated at USD 67.28 billion. The report covers the Carton Board Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Carton Board Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Carton Board Industry Report
The Carton Board Market Report provides an extensive industry analysis by segmenting the market based on various grades, end-user industries, and geographical regions. The market segmentation includes grades such as Solid Bleached Sulfate, Solid Unbleached Sulfate, Folding Boxboard, White-Lined Chipboard, Liquid Packaging Board, and Food Service Board. The end-user industries covered are Beverage, Food, Pharmaceutical and Healthcare, Cosmetics and Toiletries, and Tobacco. The geographical scope spans North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
This industry report offers a comprehensive market overview, detailing the market size, market share, and market trends. The industry outlook highlights the growth rate and market growth expected in the coming years. Additionally, the report includes market analysis and market forecast, providing valuable insights for industry leaders and research companies.
The market research delves into market value, market data, and industry statistics, presenting a clear picture of the current market scenario and future market predictions. The industry research also examines market leaders and their impact on market segmentation and market review.
A free report PDF download is available, offering an example of the report's in-depth industry information and market outlook. This report summary encapsulates the critical aspects of the Carton Board Market, ensuring a thorough understanding of the market dynamics and industry trends.
