Spain's fanfold market is expected to grow at a CAGR of 3.3% until 2034, indicating its growing impact on the folded paper sector. Paper products are being used by an increasing number of companies in Spain to improve operational efficiency because they are known for their cost-effectiveness and effectiveness.
NEWARK, DE / ACCESSWIRE / August 27, 2024 / According to the estimations derived by FMI analysts, over the projection period, the fanfold market is predicted to register a CAGR of 4.6%, from USD 9.8 billion in 2024 to a worth of USD 15.1 billion by 2034.
Due to rising applications in a variety of sectors and developments in packaging and printing technologies, the global fanfold market is anticipated to grow significantly over the ensuing decade.
Because more people are buying online and using fanfolds to package consumer items, there is a growing need for fanfolds. The global fanfold market share is anticipated to be significantly influenced by the FMCG industry.
Fanfolds are in great demand, which has FMCG companies concentrating on environmentally friendly packaging. Another issue affecting fanfold sales is the rise in the usage of fanfolds for the transportation of electrical items brought on by the e-commerce boom.
However, manufacturers struggle to maintain consistent supply due to insufficient raw materials during the COVID-19 outbreak. The fanfold market share is expected to grow drastically due to the growth of e-commerce and digital printing technologies.
What are the Key Drivers to the Fanfold Market Share?
The demand for fanfold is rising due to an increase in e-commerce and the use of various packaging types. To pack things, various types of packing boxes and cartons are necessary. Fanfold offers customizable and tailor-made packaging solutions to meet a variety of packaging requirements. As a result, sales of fanfold are anticipated to grow during the forecast period.
The demand for fanfold is growing as it aids in space optimization by eliminating the habit of storing pre-made boxes in the repository, allowing it to integrate more products within the warehouse.
Machines can be used to aid in the production of fanfold boxes. During the projected period, these factors are expected to fuel the growth of the global fanfold market share.
The sales of fanfold are on the rise as it aids in the branding and advertising of producers as well as consumers. Fanfold is available in single-wall flutes like B, C, and E, as well as double-wall flutes like BC, EB, EC, and ED. The various flutes provide varying strengths to the fanfold, which is essential for the packaging of a variety of product types.
Fanfolds are available in a variety of widths ranging from 200 mm to 2400 mm. These reasons are projected to drive the global fanfold market during the next decade. Fanfold aids in streamlining the packing process and increasing corporate productivity. Overall, the fanfold market share is likely to expand rapidly.
Which is the Leading Region in the Fanfold Market?
The United States is predicted to be the largest market for the fanfold due to the country's high penetration of e-commerce and other industrial goods. The country is closely followed by China and India, the world's fastest developing e-commerce markets, which are predicted to drive the demand for fanfold throughout the forecast period.
European countries such as Germany, the United Kingdom, France, and Italy, among others, are engaged in high-volume manufacture of industrial goods and products. During the forecast period, it is expected to boost the fanfold market's growth potential. Due to the region's rising sales of fanfold and manufacturing, Brazil and Mexico are likely to experience above-average growth in the fanfold market during the coming decade.
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"Customers are increasingly concerned with a safe, secure, and reliable packaging solution, leading to a rapid increase in fanfold sales," - Says a Lead Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).
Key Takeaways from the Fanfold Market Report
The fanfold industry experienced a CAGR of 3.2% from 2019 to 2023. The market value surged from USD 7.4 billion in 2019 to USD 9.3 billion in 2023.
In 2024, the double wall segment is estimated to acquire a market share of 37.6%.
For the shipping and logistics sector is projected to obtain a leading share of 24.3% in 2024.
In the Asia Pacific, India and China are the leading performers, attaining CAGRs of 6.7% and 5.9%, respectively, over the forecast period.
Spain is predicted to continue leading its European industry at a 3.3% CAGR by 2034.
Competitive Landscape
The fanfold market is highly fragmented and characterized by fierce competition, involving a multitude of domestic and regional contenders. To navigate this competitive landscape, companies are employing various market expansion strategies, including geographic expansions, mergers and acquisitions, partnerships, and collaborations.
The strategic maneuvers enable firms to broaden their market reach and consolidate their positions. In addition to such approaches, top players in the paper packaging market are focusing on developing innovative products to enhance their market presence.
By introducing novel packaging solutions, they aim to attract attention and cater to evolving consumer preferences. Such strategies are designed to not only differentiate them from competitors but also to expand their product portfolios.
As these initiatives gain traction, they are expected to significantly intensify the level of competition within the paper packaging industry, propelling novel improvements and innovations in packaging designs, materials, and functionalities to meet diverse market demands.
Key Players of Fanfold Industry
International Paper Company
Smurfit Kappa
VPK Group
DS Smith
Menasha Packaging Company
Papierfabrik Palm
Braepac Packaging
Independent Corrugator
Rondo Ganahl
RIBBLE PACKAGING LTD
Recent Industry Developments in Fanfold Market
Ansapack Pvt. Ltd., a Mumbai-based supplier of pharmaceutical packaging solutions, bought another offset printing and services business in January 2024. This acquisition came after the firm strategically purchased a Sikkim-based pharmaceutical flexible manufacturing factory.
The goal of Belgium's VPK Group's October 2023 acquisition of Zetacarton's controlling share was to develop its vertically integrated value-added business strategy throughout Europe and break into the Italian corrugated packaging industry.
Key Segments of Fanfold Industry
By Wall Type:
Based on the wall types, the industry is divided into single wall, double wall, and triple wall.
By Printing Technology:
In terms of printing technology, the industry is segregated into digital printing, flexographic printing, and lithographic printing.
By End Use:
Based on the end use of the containers, the demand is categorized into shipping and logistics e-commerce, electronics and home appliance, pharmaceutical, personal care and cosmetics, food and beverage, and other consumer goods.
By Region:
Key countries of North America, Latin America, Europe, East Asia, South Asia & Pacific, Middle East and Africa (MEA), have been covered in the report.
Authored by:
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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