24-Oct-2024
The rising adoption of containerboards in food and beverage industry across the country drives the UK containerboard market growth demand during the forecast period.
The UK Containerboard Market size was valued at USD 5.35 billion in 2023 and is predicted to reach USD 5.87 billion by 2030, with a CAGR of 1.03% from 2024 to 2030. In terms of volume the market size was 6002 kilotons in 2023 and is projected to reach 7696 kilotons in 2030, with a CAGR of 2.89% from 2024 to 2030, according to new research by Next Move Strategy Consulting.
The thriving food and beverage sector in the UK requires efficient and eco-friendly packaging solutions to support its increased production and diversification, thereby driving the growth of the containerboard market in the country. According to Food and Drink Federation, the food and drink industry is the largest manufacturing sector in U.K., surpassing the combined size of the automotive and aerospace industries. In terms of output value, the industry was valued at USD 39.68, reflecting an increase of 8.0% from 2021. As the industry continues to evolve, the containerboard market is expected to expand, offering innovative and sustainable packaging solutions that cater to the diverse needs of the industry.
However, the proliferation of alternative packaging materials such as plastics, metals, glass, and composites that presents a potential challenge to the UK containerboard market demand. These substitutes could undermine containerboard's market position, particularly if they offer cost advantages or superior performance in specific applications.
Advances in these materials, especially in sustainability and functionality, may lead to increased adoption across industries traditionally reliant on containerboard, potentially eroding it’s the UK containerboard market share. On the other hand, the containerboard market anticipates significant growth through the integration of emerging technologies such as nanotechnology and smart packaging. These innovations facilitate the development of cost-efficient, versatile containerboard products that offer enhanced customization and branding opportunities.
Nanotechnology and smart packaging enable features such as active protection and real-time monitoring, further enhancing product appeal and functionality. As these applications continue to evolve and expand, incorporating quantum sensing methods into Containerboard Market is expected to drive substantial the UK containerboard market growth in the coming years.
Several key players operating in the UK containerboard industry includes International Paper Company, Mondi Group, DS Smith, Stora Enso, WestRock Company, Belmont Packaging Ltd, Berry Global, Silgan Holdings Inc, Atlas Packaging Limited, Clifton Packaging Group, and others.
The information related to key drivers, restraints, and opportunities and their impact on the containerboard market is provided in the report.
The value chain analysis in the UK containerboard market study provides a clear picture of the roles of each stakeholder.
The market share of players in the containerboard market is provided in the report along with their competitive analysis.
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