Duplex Paper and Board for FMCG Market Size | US$ 3.93 Bn by 2034

Duplex Paper and Board for FMCG Market Size and Insights 2023 - 2034

The global duplex paper and board for FMCG market size reached US$ 2.45 billion in 2023 and is projected to hit around US$ 3.93 billion by 2034, expanding at a CAGR of 4.4% during the forecast period from 2024 to 2034.

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Key players operating in the market are making efforts to develop advance technology for manufacturing duplex paper and board for FMCG, which is projected to drive the global duplex paper and board for FMCG market over the forecast period.

Major Key Insights of the Duplex Paper and Board for FMCG Market

• Asia Pacific dominated the market in 2023.
• North America is expected to grow at a significant rate in the market during the forecast period.
• By type, duplex board segment is expected to grow at significant rate during the forecast period.
• By application, the food & beverages segment dominated the market in 2023.

Duplex Paper and Board for FMCG Market: Lightweight Packaging Option

Duplex paper and board are widely used in the fast-moving consumer goods (FMCG) sector due to their strength, lightweight nature, and cost-effectiveness. The duplex paper and board for FMCG is made from a combination of virgin and recycled fibers. Duplex board is characterized by a smooth surface, which is ideal for printing and packaging applications. Duplex board typically consists of two layers: the top layer (white) and the bottom layer (grey). The white surface is usually made from bleached fibers, while the grey layer is made from unbleached fibers, providing strength and rigidity. These boards can be produced in different thicknesses to suit specific packaging needs. The smooth, printable surface of duplex paper allows for high-quality printing, making it suitable for vibrant graphics and detailed designs.

Duplex paper is often utilized to create eye-catching displays for retail environments, aiding in brand promotion and customer engagement. The duplex paper and FMCG are commonly used for pharmaceuticals, beverages, and dry food products. The rigidity of the duplex board ensures the protection of the contents. Duplex paper is often utilized to create eye-catching displays for retail environments, aiding in brand promotion and customer engagement. The smooth surface of the duplex board allows for high-quality label printing, which is essential for branding and product information. Duplex paper and board play a crucial role in the FMCG sector, offering an effective balance of quality, sustainability, and cost. As consumer preferences evolve and sustainability becomes increasingly important, duplex board is likely to remain a popular choice for FMCG packaging solutions. The global packaging industry size is estimated to grow from USD 1.20 trillion in 2022 to reach an estimated USD 1.58 trillion by 2032, growing at a 3.16% CAGR between 2023 and 2032.

Driver

Increasing Trend of Online Shopping and E-commerce Growth

The expansion of e-commerce is increasing the demand for robust and protective packaging solutions, further boosting the use of duplex board in shipping and packaging. As more consumers shop online, the demand for packaging solutions, including duplex paper and board, rises. E-commerce requires sturdy packaging to ensure products arrive safely. Duplex board provides the necessary strength and rigidity to protect products during transit. Its use in boxes, inserts, and cushioning materials has become essential for e-commerce.

E-commerce brands often seek customized packaging solutions to enhance brand visibility. Duplex board allows for high-quality printing, enabling brands to create eye-catching designs. With growing consumer awareness of sustainability, e-commerce companies are increasingly opting for recyclable and biodegradable materials, such as duplex paper, aligning with consumer preferences. Duplex board is lightweight yet strong, optimizing shipping costs and reducing overall carbon footprints, which is attractive to e-commerce businesses focused on efficiency.

• In March 2024, according to the data published by National E-commerce Associations, it is anticipated that e-commerce sales would reach US$ 8 trillion by 2028, surpassing US$ 6 trillion in 2024. It is anticipated that e-commerce would continue to beat the retail industry as a whole, but by a decreasing amount annually.

Key Factors Driving the Duplex Paper and Board for FMCG Market Growth

• Emerging markets and trends for duplex paper and board is expected to drive the growth of the global duplex paper and board for FMCG market over the forecast period.
• Increasing adoption of advanced technologies for manufacturing duplex paper and board for FMCG is estimated to drive the growth of the global market in the near future.
• Growing urban populations and changing consumer behaviours increase the demand for packaged goods, leading to higher duplex paper usage.
• Advances in printing technology and product design enhance the aesthetic appeal of duplex packaging, making it more attractive for FMCG brands.
• Duplex paper and board offer a cost-efficient packaging solution compared to other materials, appealing to manufacturers looking to optimize costs.
• Government regulations promoting sustainable practices encourage the adoption of eco-friendly packaging materials like duplex paper.
• Increasing awareness about environmental issues drives consumers towards brands using sustainable packaging, further boosting duplex paper demand, which is expected to drive the growth of the global duplex paper and board for FMCG market over the forecast period.

Duplex Paper and Board for FMCG Market Trends

• Sustainability Focus: Shifting toward eco-friendly materials, with brands prioritizing recyclable and biodegradable packaging solutions, propels the market.
• Increased Use of Smart Packaging: Integrating technologies in packaging, such as QR codes and NFC, to engage consumers and provide product information fuels the market.

Market Opportunity

Funding Initiatives for Expansion of Business

Duplex paper and board are being utilized for various applications, from food packaging to cosmetics, due to their versatility. Manufacturers are increasingly adopting duplex paper and board as a cost-effective alternative to plastic and other materials. Developing specialized duplex products for niche markets, such as food service or personal care, can open new revenue streams. The key players operating in the market are raising funds for the expansion of business, which is estimated to create lucrative opportunities for the growth of the duplex paper and board for the FMCG market in the near future. 

• For instance, in July 2024, Three M Paper Boards Limited, a paper mill company based in Mumbai, India, intends to raise Rs. 40 crores through their SME IPO. The business has been given permission to start its public offering on BS Ltd's SME platform (BSE SME). The company's Coated Duplex Boards are an environmentally beneficial option for packaging a range of FMCC and pharmaceutical products because they are entirely biodegradable and composed of recycled wastepaper.

Market Challenge

• Recycling Challenges: Although duplex paper is recyclable, the recycling infrastructure in some regions may be inadequate, hindering sustainability efforts.
• Competition from Alternative Materials: The availability of cheaper and more durable packaging options, like plastic and flexible materials, can limit market growth.
• Regulatory Compliance Costs: Meeting environmental regulations can increase production costs and complexity, particularly for smaller manufacturers.
• Market Saturation: In mature markets, competition can lead to saturation, making it difficult for new entrants to gain traction.
• Competition from Alternative Materials: The availability of cheaper and more durable packaging options, like plastic and flexible materials, can limit market growth.

Rising Urbanization and Industrialization in Asia Pacific to Support Dominance

Asia Pacific dominated the global duplex paper and board for FMCG market in 2023. Rapid economic development in countries like China and India increases consumer spending on packaged goods, driving demand for duplex materials. Increasing urban populations lead to changing lifestyles and heightened demand for convenience products, often requiring effective packaging. Improvements in manufacturing and logistics infrastructure enhance the production and distribution capabilities of duplex materials. The versatility of duplex paper and board allows for a wide range of applications across various FMCG segments, from food and beverage to personal care. Regional market players are focusing on adopting inorganic growth strategies to increase sales, which is estimated to drive the duplex paper and board for FMCG market in Asia Pacific.

• For instance, in June 2024, At Drupa 2024, Telangana-based Deevyashakti India Private Limited, which manufactures Coated White paper board, demonstrated its coated duplex board, underscoring its dedication to quality and innovation in the paper packaging sector. The company's primary product lines include white kraft liner board, which comes in both coated and uncoated versions with weights ranging from 180 gsm to 250 gsm, and coated grey and white back paperboard, which comes in light and heavy weight coatings ranging from 180 gsm to 450 gsm. These goods satisfy various printing and packaging requirements for a wide spectrum of clients in the paper packaging industry.

North America’s Robust FMCG Sector to support Growth

North America is anticipated to grow at the fastest rate in the duplex paper and board for FMCG market during the forecast period. North America’s well-developed supply chain and manufacturing infrastructure support efficient production and distribution of duplex materials. A diverse and large FMCG market with major brands actively seeking sustainable packaging options fuels demand for duplex paper and board. Increasing consumer awareness and regulatory pressures promote the use of eco-friendly packaging solutions, driving demand for duplex paper and board. Strong emphasis on research and development in North America leads to advancements in packaging technology, enhancing the quality and functionality of duplex materials. Shifts towards online shopping and convenience in North America drive the need for versatile and protective packaging solutions, benefiting duplex materials. These factors collectively enhance North America's position in the duplex paper and board market within the FMCG sector.

Duplex Board Segment Led the Market in 2023

The duplex board segment held a dominant presence in the duplex paper and board for FMCG market in 2023. Duplex board is made from recycled fibers and is recyclable, making it an eco-friendly alternative to plastic and other non-biodegradable packaging materials. With increasing global awareness of environmental issues, consumers and companies are moving toward sustainable packaging solutions.

Many governments are imposing strict regulations on single-use plastics and non-recyclable materials. This has accelerated the shift toward biodegradable and recyclable options, like duplex board. The rise of e-commerce, particularly during and after the COVID-19 pandemic, has resulted in a surge in demand for packaging materials that are lightweight, cost-efficient, and sustainable. Duplex board is widely used for e-commerce packaging due to its strength, printability, and recyclability. Duplex board is highly versatile and can be used for a variety of packaging applications. Its smooth surface on one side makes it suitable for printing, allowing for high-quality branding and product information display. This has led to its increased use in product packaging, cartons, and promotional materials.

Expansion of the Food and Beverage Industry to Support Dominance

The food and beverage segment dominated the market in 2023. Many companies in the food and beverage sector have committed to sustainability initiatives to reduce their reliance on non-recyclable materials. Brands like Nestlé, Unilever, and Coca-Cola are striving to use more sustainable packaging materials, which has driven demand for duplex paper and board. Duplex paper offers excellent printability, which allows companies to create attractive and high-quality packaging. With consumers becoming more particular about the appearance of packaging, especially in premium and organic food segments, duplex paper helps brands create visually appealing, customizable, and informative packaging.

Duplex paper and board are relatively low-cost compared to other packaging materials, such as plastics or solid bleached sulfate (SBS) boards. For the food and beverages industry, which often deals with large volumes of packaging, duplex boards offer an economical option that doesn’t compromise on functionality or visual appeal.

Duplex paper is highly versatile and can be used for various types of food and beverage packaging, including: Cartons for beverages (milk, juices, and soft drinks) Boxes for dry foods (cereals, pasta, snacks) Bakery and confectionery packaging Takeout containers and trays Sleeves for frozen food The ability to customize duplex board for different formats makes it suitable for a wide array of food packaging needs, from small portions to bulk items.

New Advancements in Duplex Paper and Board for FMCG Industry

• In June 2024, Dai Nippon Printing Co., Ltd. (DNP), a printing company, revealed the DP-DS820DX printer for duplex paper and board.
• In July 2024, Over the next five years, the diverse conglomerate ITC Ltd, managed by Sanjiv Puri, intends to invest Rs 20,000 crore across several industries. The FMCG industry will receive the largest investment, followed by the paper board and packaging industries. Under Sanjiv Puri's direction, ITC unveiled a five-year, R 20,000 crore investment plan aimed at the packaging, paper board, and FMCG industries. With a particular emphasis on FMCG, the investment seeks to increase capacity, innovation, and logistics. IT also introduced Right Shift, a new health and wellness brand.

Duplex Paper and Board for FMCG Market Companies

• Kimberly-Clark
• Stora Enso
• International Paper
• The West Coast Paper Mills
• Mangum Ventures
• El-Salam Paper Mills
• Sappi
• Emami Paper Mills
• Millennium Overseas
• Hangzhou Gerson Paper
• JK Pape
• Monit Paper and Chemicals
• Nippon Paper Industries
• Qiongdao Sanshi Paper

Duplex Paper and Board for FMCG Market Segments

By Type

• Duplex Board
• White Board
• Kraft Board
• Duplex Paper
• High-weight coated
• Light-weight coated

By Application

• Food & Beverages
• Homecare
• Personal care & Cosmetics
• Others

By Region

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Sweden
  • Denmark
  • Norway
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Thailand
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East and Africa (MEA)
  • South Africa
  • UAE
  • Saudi Arabia
  • Kuwait