Yahoo Finance Micro Flute Paper Market to Hit USD 104.35 Billion by 2029 | At a CAGR of 5.8% During the Forecast Period 2022-2029
Companies covered in micro flute paper market are DS Smith (U.K.), Van Genechten Packaging (Belgium), Mondi Group (U.K.), International Paper (U.S.), Smurfit Kappa (Ireland), WestRock Company (U.S.), Netpak (Canada), Hamburger Containerboard (Austria), Acme Corrugated Box Co., Inc. (U.S.), MM Group (Austria), and Others
Pune, India, Dec. 07, 2022 (GLOBE NEWSWIRE) -- The global micro flute paper market size was valued at USD 66.81 billion in 2021 and USD 70.53 billion in 2022. The market is expected to reach USD 104.35 billion by 2029 with a CAGR of 5.8% during the forecast period. Demand for micro flute paper is projected to grow due to its various benefits such as being lightweight, cost-effective, fit-to-product, and eco-friendly.
Preference for eco-friendly solutions by the packaging industry is expected to impel the market course. Growth in the e-commerce industry is also set to assist in market development. Fortune Business Insights™ shares this information in its report titled “Micro Flute Paper Market, 2022-2029.”
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Competitive Landscape
Various Collaborations Amongst Key Players to Push Market Progression
The market has various players operating that are involved in acquisitions and collaborations. These market players include Mondi Group, WestRock Company, International Paper Company, and Smurfit Kappa Group. Mondi Group has integrated value chain, which includes certified forests and raw materials, efficient production processes, sustainable packaging and paper solutions, and recycling. Companies have been opting for business expansion and acquisition strategies to gain new customer base, which is expected to propel market development.
Report Scope & Segmentation:
Report Coverage | Details |
Forecast Period | 2022-2029 |
Forecast CAGR | 5.8 % |
2029 Value Projection | USD 104.35 Billion |
Base Year | 2021 |
Micro Flute Paper Market Size in 2022 | USD 70.35 Billion |
Historical Data | 2018-2020 |
No. of Pages | 300 |
Segments Covered | By Type, End-user and Regional Insights |
Micro Flute Paper Industry Growth Drivers | Preference for Eco-friendly Packaging Solutions to Propel Market Progress |
Increasing Demand for Eco-Friendly Packaging to Progress Market Development |
Segments
C-Flute to Lead Owing to Wide Acceptance in the Food Industry
On the basis of flute type, the market is divided into A-Flute, B-Flute, C-Flute, E-Flute, F-Flute, and others. C-Flute accounts for the biggest part due to the adoption of the product in the food industry with major consumers opting for self-ready packaging. Other types of flutes also have different thicknesses. The demand is based on its fit-to-product shipping containers, which is set to propel market growth.
Food & Beverage to Dictate Due to its Use in Various Decorative Techniques
Based on end-use, the market is categorized into food & beverages, personal care & cosmetics, industrial, and others. Food & beverages segment is anticipated to dominate the market with a share of 48.9% as it would attract various decorative techniques such as etching, hot stamping, and screen printing to explain the product's brand identity.
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List of Key Players Profiled in the Micro Flute Paper Report
DS Smith (U.K.)
Van Genechten Packaging (Belgium)
Mondi Group (U.K.)
International Paper (U.S.)
Smurfit Kappa (Ireland)
WestRock Company (U.S.)
Netpak (Canada)
Hamburger Containerboard (Austria)
Acme Corrugated Box Co., Inc. (U.S.)
MM Group (Austria)
Report Coverage
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.
Drivers and Restraints
Increasing Demand for Eco-Friendly Packaging to Progress Market Development
The increasing interest of consumers in buying the products online and the demand for eco-friendly packaging globally is anticipated to drive the micro flute paper market growth. Consumers prefer the information on the packaging label, which affects their buying habits. Various countries have banned plastic packaging which has created demand in the packaging industry. Environmental issues, government regulations on the use of plastic packaging, and the eco-friendly nature of flute papers are estimated for market development. Preference for eco-friendly solutions in developed countries is expected to further propel market development.
However, government regulations, exploitation of natural resources, and durability of the micro flute paper are expected to hamper the market growth.
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Regional Insights
Asia Pacific to Lead the Market Share Due to Technological Innovations
Asia Pacific is expected to have the largest part in the micro flute paper market share due to increasing rate of industrialization and technological innovations. The market stood at USD 29.14 billion in 2021 due to high demand from countries such as China and India. Increasing number of R&D activities and increasing production of micro flute paper are expected to increase market growth in the region.
North America is expected to have a considerable substantial growth in the forecast period due to increasing usage of the papers for framework of corrugated packaging. It is utilized for packaging in boxes, clamshells, and trays.
Europe has moderate growth due to increasing demand for cosmetics and personal care products, which is set to increase the demand for packing.
Table of Content:
Introduction
Research Scope
Market Segmentation
Research Methodology
Definitions and Assumptions
Executive Summary
Market Dynamics
Market Drivers
Market Restraints
Market Opportunities
Key Insights
Key Market Trends in the Global Market
Key Developments: Mergers, Acquisition, Partnership, etc.
Latest Technological Advancement
Insights on Regulatory Scenario
Porters Five Forces Analysis
Qualitative Insights – Impact of COVID-19 on Global Micro Flute Paper Market
Supply Chain Challenges
Steps taken by Government/Companies to overcome this impact
Potential opportunities due to COVID-19 outbreak
Global Micro Flute Paper Market Analysis, Insights and Forecast, 2018-2029
Key Findings / Summary
By Flute Type (Value/Volume)
A-Flute
B-Flute
C-Flute
E-Flute
F-Flute
Others
By End-use (Value/Volume)
Food & Beverage
Personal Care & Cosmetics
Industrial
Others
By Region (Value/Volume)
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
TOC Continued…!
Key Industry Development
August 2021- MM Group (Mayr-Melnhof Group) acquired Kotkamills completely. The acquisition was agreed in December 2020 after receiving all the approvals from the relevant authorities.
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