January 31, 2023

The 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. Owing to various benefits, such as lightweight, cost-effective, fit-to-product, and eco-friendly, the market is projected grow at a steady pace. Inclination for eco-friendly solutions in developed countries and in the packaging industry is expected to impel the market course. Growth of e-commerce channels is also set to assist in market development. Fortune Business Insightsshares this information in its report titled “Micro Flute Paper Market, 2022-2029.

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COVID-19 Impact:

Limitations in Supply Chains Declined Market Growth

The COVID-19 pandemic hit various countries in the world which limited the market growth as mobility and manpower were not available, which affected the market for micro flute paper. Post-pandemic has helped in the recovery of the market due to the growth in the e-commerce sector. According to the national survey conducted by DS Smith, 85% of the U.S. customers preferred to shop online.

Segments

C-Flute to Lead Owing to its Suitability in Packaging Solutions

According to flute type, the market is distributed into A-Flute, B-Flute, C-Flute, E-Flute, F-Flute, and others. C-Flute accounts for the largest share due to its suitability in packaging of containers and packaging solutions. It also offers a good printing surface for artistic labels to attract consumers. Other types of flutes also have different thicknesses. The demand for other type of flutes owing to its various benefits is set to propel market growth.

Food and Beverage Industry to Dictate Due to its Variegated Uses

Based on end-use, the market is categorized into food & beverages, personal care & cosmetics, industrial, and others. Food & beverages segment is predicted to lead the market with a share of 48.9% as it is used in various ornamental techniques such as etching, hot stamping, and screen printing to explain the product’s brand identity.

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

Preference for Eco-Friendly Packaging to Develop Market Expansion

Preference for eco-friendly from the packaging industries globally is anticipated to drive the micro flute paper market growth. Too much use of non-degradable packaging has impacted the environment negatively. Various countries, such as China and Denmark, have imposed tax to discourage the use of plastic packaging which has created demand in packaging industry. Rapid expansion of the e-commerce industry and rise in technological innovations are estimated to market development.

However, government guidelines, misuse of natural resources, and robustness of the micro flute paper are expected to hamper the market growth.

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Regional Insights

Asia Pacific Lead the Market Owing to Rapid Rate of Industrialization

Asia Pacific is anticipated to have prime part in the micro flute paper market share owing to rapid rate of industrialization and technological improvements. The market reached a valuation of USD 29.14 billion in 2021 due to high demand from countries such as China and India. Growing number of R&D activities and increasing production capacities of micro flute paper are expected to increase market growth in the region.

North America is projected to have a significant growth over the forecast period due to growing usage of the papers for framework of corrugated packaging. It is utilized for packaging in boxes, clamshells, and trays.

Europe has a moderate growth due to increasing demand for cosmetics and personal care products which is set to increase the demand for packing.

Competitive Landscape

Acquisitions Strategies by Key Players to Headway Market Growth

The market has many players involved in acquisitions and various partnerships. These market players include Mondi Group, WestRock Company, International Paper Company, and Smurfit Kappa Group. MM Group completed the acquisition of Kotkamills, Finland after companies received all the relevant approvals from relevant authorities. Companies have been choosing business expansion and acquisition plans to advance into a new customer base, which is anticipated to push market development.

Key Industry Development

  • December 2020 MM Group (Mayr-Melnhof Group) invested in Frohnleiten board mill in Austria. The investment is done with the purpose of digitalization, capacity expansion, and sustainability for safeguarding the usage of state-of-the-art technologies.

List of Key Players Profiled in the 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)

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