Board packaging products such as folding boxes and setup boxes play an important role in product packaging across industries such as food packaging, cosmetics, pharmaceuticals, and consumer goods packaging. They provide durable and protective packaging to the products. The growing demand for sustainable and eco-friendly packaging from various industries is fueling the growth of the board packaging market.

The board packaging market is estimated to be valued at US$ 357.20 Mn in 2023 and is expected to exhibit a CAGR of 4.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the key trends fueling the growth of the Global Board Packaging Market Size is rising demand for sustainable packaging solutions. There is an increasing adoption of paper-based packaging products across industries as they are eco-friendly and biodegradable in nature. Paperboard packaging uses less energy and emits fewer greenhouse gases as compared to other packaging materials like plastics. They can also be recycled easily thereby reducing environmental impact. Hence, the growing emphasis on sustainable development through reduced plastic usage and increased adoption of recyclable paper packaging is expected to drive the growth of the board packaging market over the forecast period.

Porter’s Analysis

Threat of new entrants: The board packaging market requires high initial capital investments and technical expertise which pose barriers for new players.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes like paper.
Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to availability of alternative raw material sources.
Threat of new substitutes: Alternatives like paper packaging pose medium threat due to functional advantages of board packaging.
Competitive rivalry: High competition due to presence of global players.

SWOT Analysis

Strengths: Sustainable and recyclable nature, low cost, durability.
Weaknesses: Vulnerable to moisture, bulkiness increases shipping costs.
Opportunities: Growing e-commerce sector driving demand, advancement in production technologies.
Threats: Stringent regulations on deforestation, fluctuation in raw material prices.

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