According to Future Market Insight’s research study, Micro Flute Paper Market Sustainable and lightweight, micro flute paper packaging gains traction, replacing traditional materials for eco-friendly, and cost-efficient solutions in diverse industries.
NEWARK, Del, Dec. 18, 2023 (GLOBE NEWSWIRE) — The global micro flute paper market is anticipated to reach a valuation of US$ 2,658 million in 2023. It is projected to exhibit a CAGR of around 5.1% during the estimated period 2023 to 2033. The market is set to attain a valuation of about US$ 4,370 million by 2033.
Consumer Preference for Lightweight and Biodegradable Packaging Drives Sales
Micro flute paper packaging is replacing traditional packaging made from metal and plastic. Packaging that contains metal or plastic imposes extra costs on manufacturers and end-users. Additionally, such packaging materials have a high carbon impact. Compared to this, micro flute paper is the ideal packaging material as it is produced from a biodegradable material that has negligible carbon footprints.
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Several manufacturers and end-users are increasingly demanding sustainable, easy-to-reuse, and lightweight packaging. Owing to its several benefits, lightweight micro flute paper packaging is capturing the attention of manufacturers from several industries.
The demand for lightweight micro flute paper packaging among end-users is also increasing as it saves energy and the overall cost during production, and it is easy to recycle. Micro flute paper packaging continues to perform well in a handful of packaging applications, such as bakery, dairy products, ready-to-eat, and on-the-go food packaging. The food & beverage industry strives to rack up the shelves with products that weigh less by using micro flute packaging materials.
Key Takeaways from the Micro Flute Paper Market Report-
- Sales of the micro flute paper will rise from 2023 to 2033 and are projected to create a total financial potential of US$ 1,844.3 million.
- E flute micro flute papers, occupying around 2/3rd of the market, are anticipated to dominate the global micro flute paper industry based on product type.
- The growth of the micro flute paper market will likely increase at a CAGR of 5.1% during the forecast period in the United States.
- India’s micro flute paper industry is estimated to showcase a CAGR of 6.9% in the assessment period.
- China’s micro flute paper industry is expected to witness a CAGR of around 6.6% from 2023 to 2033.
“The necessity for sustainable packaging solutions has increased due to modern customers’ growing environmental consciousness, which has driven the market over the historical period. Micro flute paper’s lightweight, biodegradable, and recyclable qualities have made it a desirable option for companies looking to reduce their carbon footprint,” says Senior Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).
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The Provision of Value-added Services and Customization is an Ongoing Trend
Micro flute paper manufacturers are expanding their offerings beyond normal products to include value-added and custom manufacturing services. This is owing to the growing demand for personalized and differentiated packaging solutions that cater to specific product requirements and brand aesthetics. Micro flute paper manufacturers are positioning themselves as strategic partners for brands seeking to differentiate their products through the provision of such value-added and customized services.
For instance, Stora Enso provides a range of value-added services, including printing, die-cutting, and protective coatings, for its micro flute paper products. Additionally, DS Smith offers small-batch and prototype production services for its micro flute paper products, enabling brands to test and refine packaging designs before committing to large-scale production runs.
Growing Fast-food Outlets Create Lucrative Opportunities for the Market
The micro flute paper market is growing against the backdrop of the expansion of fast food centers. Furthermore, the rapid growth of supermarkets and hypermarkets in developed countries such as the United States and the United Kingdom, as well as developing countries such as Brazil is expected to offer considerable growth opportunities for players in the microflute paper industry.
For instance, in the United States, McDonald’s uses Big Mac clamshell for product packaging, which is manufactured from F-flute paper. This packaging receives great attention from customers. Additionally, Dairy Queen in the United States also uses F flute clamshell for the packaging of its ultimate sandwich and hot dogs.
Micro Flute Paper Market: Competitive Landscape
The Top Key Companies Profiled
- DS Smith Plc
- Smurfit Kappa Group Plc
- Mondi Plc
- Acme Corrugated Box Co. Inc.
- Cascades Inc.
- International Paper Inc.
- KRPA Holding CZ a.s
- Al Kifah Paper Products Co
- Mayr-Melnhof Packaging (MM Packaging)
- Independent Corrugator Inc.
- GWP Group Ltd
- Stora Enso Oyj
- WestRock Company
- Hamburger Containerboard
- Shanghai DE Printed Box
The Tier 1 players in the market hold an 8 to 12% share in the micro flute paper industry.
- In May 2023, DS Smith plc announced an investment of around US$ 12 million for the expansion of its production plant in A Pobra do Caramiñal. The expansion will add 6,000 square meters to the site, taking the overall capacity to 17,000 square meters.
- In July 2023, Mondi Plc announced the acquisition of the Hinton Pulp mill in Canada, which boasts an annual capacity of around 250,000 tons.
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Market Outlook by Category
- D Flute
- E Flute
- F Flute
- N Flute
By Basis Weight:
- Up to 100 GSM
- 100 to 175 GSM
- 175 GSM to 250 GSM
- Above 250 GSM
- Food & Beverages
- Medical & Pharmaceuticals
- Personal Care
- Consumer Durable Electronic Goods
- North America
- Latin America
- East Asia
- South Asia
- Middle East & Africa
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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Originally published at https://www.einpresswire.com/article/675972621/micro-flute-paper-market-to-reach-us-4-370-million-by-2033-amid-increasing-demand-from-fast-food-outlets-globally-future-market-insights-inc