Microflute Market

SKU: DMPAC487 | Last Updated On: Aug 12 2022 | Available Formats

> Global Microflute Market Expected to reach a high CAGR by 2029: DataM Intelligence.

Global Microflute Market is segmented By Application (Bag-in-box, Multipack, Primary packaging, Shelf ready, Others), By End-user (Food & beverages, Consumer electronics, Healthcare, Personal & household care, Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029.

 

Market Overview

The Global Microflute Market is expected to grow at a high CAGR during the forecasting period (2022-2029).

  • Microflutes are durable, lightweight corrugated boards with minimum thickness, made from a fluted corrugated sheet and one or two inner and outer sheets.

  • The micro-flute packaging material can be cut or folded into any shape or size as per the design requirements. The demand for micro-flute packaging materials is anticipated to increase supported by the growth of e-commerce packaging and food & beverage segments, with companies focused on expanding production capacities to meet the growing demand.

  • For instance, in December 2017, DS Smith Plc opened a new PackRight Centre in Germany, to develop innovative and creative display and packaging concepts and increase sales.

Market Dynamics

  • The higher penetration of internet shopping in consumer behavior has led to the development of innovative solutions for the packaging industry, improving the quality of micro flute packaging materials.

  • The extensive application of micro flute boards has resulted in a reduction of shipping costs as the material is lightweight, thus cost-saving is the key motivator of growth for the market.

  • The rise in demand for recyclable and eco-friendly packaging materials would also propel market growth, especially in the packaging of delicate products. The evolution of digital printing on micro-flute boards has also positively impacted the retail packaging industry, further driving market growth.

  • The strict environmental regulations against the contamination of landfills might act as barriers to market growth. For instance, the implementation of federal regulations such as the Packaging (Essential Requirements) Regulations 2015 by the European Parliament and Council Directive and new regulations for food packaging by the Food Safety and Standards Authority of India (FSSAI) have resulted in companies having to adopt stringent production measures to reduce the emission of hazardous chemicals, thereby increasing production costs and increasing product prices.

Market Segmentation

  • The global micro-flute market is segmented by application into bag-in-box, multipack, primary packaging, shelf-ready, and others. The bag-in-box is the leading segment owing to the advantages offered, such as cost-effectiveness, volume efficiency in storage facilities, and lightweight properties.

  • The bag-in-box section is expected to witness a healthy growth rate owing to its demand for food & beverage packaging, household product packaging, and storing industrial liquids.

  • By end-user, the market is segmented into food & beverages, consumer electronics, healthcare, personal & household care, and others. Food & drinks are the leading segment by market share, followed by consumer electronics and own & household care parts. The rise in demand for micro flute packaging materials in processed food and fresh produce packaging is expected to drive the segment growth, with increasing consumer awareness about enhanced printability and folding capabilities further making micro flutes the material of choice.

Geographical Share

  • The global micro-flute market is segmented by geography into North America, South America, Europe, Asia-Pacific, and the Rest of the World (RoW).

  • Europe is the leading region by market share owing to the high demand for micro-flute packaging materials and the high recycling rate of packaging paper. The increase in federal support to supply micro-flute packaging material to reduce the accumulation of the waste product in landfills would further propel market growth.

  • Asia-Pacific is expected to be the fastest-growing region during the forecast period, with China and India being the main contributors to the growth. The rise in consumption of micro flutes in the processed food industry, consumer electronics, and personal care industry would drive the market growth in the region.

Competitive Trends

  • The micro-flute market is fragmented, with the presence of global and local suppliers catering to the demands of the growing market at competitive pricing.

  • The continued investment in innovative product development has also increased the market competitiveness. The major players include Mayr-Melnhof Packaging International GmbH, Van Genechten Packaging N.V., Smurfit Kappa Group plc, and DS Smith Plc.

  • The companies are more focused on the expansion of business through mergers & acquisitions to strengthen their market position.

  • For instance, in 2015, Van Genechten Packaging N.V. acquired the packaging plant from Stora Enso (SE), located in Komarom, Hungary, to widen its geographical footprint in Central Europe and offer innovative production capabilities.

The market players of the global micro-flute market include –

  1. Antalis Ltd.

  2. DS Smith Plc

  3. Heidelberger Druckmaschinen AG

  4. Independent Corrugator Inc.

  5. Mayr-Melnhof Packaging International GmbH

  6. Netpak Packaging Inc

  7. Saxon Packaging Limited

  8. Smurfit Kappa Group plc

  9. TOPPAN PRINTING CO., LTD.

  10. Van Genechten Packaging N.V.

Market Trends

  • The food & beverage industry is the leading segment by end-user, owing to the enhanced printability and folding capabilities of micro flute packaging materials. The consumer electronics segment follows next, with micro-flute packaging materials finding application in the packaging of delicate electronic goods.

  • Europe is the leading region by market share, owing to the promotion of the use of micro flute to reduce environmental waste, and increasing application of lightweight micro-flute material to minimize shipping costs.

  • The companies are more focused on mergers and acquisitions to maintain their competitive advantage over others and strengthen their market position. For instance, in November 2017, Mayr-Melnhof Packaging International GmbH acquired a packaging site for cosmetic and personal care products based in Bydgoszcz, Poland, continuing to expand its portfolio in the high-grade product segment to generate new growth.

The scope of the Report

The report covers the factors impacting the market, Porter 5 Forces, Competitive Scenario, Price trend analysis, Product Benchmarking, and company profiles. Micro-flute Market is segmented by application into bag-in-box, multipack, primary packaging, shelf-ready, and others. Based on end-user, the market is categorized into food & beverages, consumer electronics, healthcare, personal & household care, and others. Geographically, the market is segmented into – North America, South America, Europe, Asia Pacific, and the Rest of the World.

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