South Korea Containerboard Market Overview, 2029

South Korea Containerboard Market Overview, 2029

The South Korean containerboard market has a significant focus on sustainability and innovation. Companies have invested in innovative recycling technologies and environmentally friendly production techniques in order to comply with rigorous environmental requirements and meet rising consumer demand for sustainable packaging. The market has also experienced rising competition and consolidation as businesses strive to improve their worldwide footprint and operational efficiency. South Korean enterprises such as Hyung Joon Paper and Korea Paper emerged as major participants, targeting both domestic and export markets. South Korea has developed many policies to encourage environmental sustainability in the containerboard business. The trash Management Act and the Act to Promote Resource Saving and Recycling both require recycling and trash reduction practices. The Korean Industrial Standards (KS) provide requirements for containerboard quality, such as strength, durability, and safety. One of the most noticeable effects of COVID-19 was an increase in demand for packaging materials, notably for e-commerce and vital items. With lockdowns and limitations resulting in more online shopping and home delivery, demand for containerboard for packaging grew. This tendency was notably noticeable in the food and beverage industry and healthcare packaging. Companies market their R&D efforts through commercials and press releases, emphasising their dedication to innovation and the creation of cutting-edge containerboard goods and solutions.

According to the research report ""South Korea Containerboard Market Overview, 2029,"" published by Bonafide Research, the South Korea containerboard market is anticipated to grow at more than 3% CAGR from 2024 to 2029. Manufacturing technology advancements are propelling the containerboard industry forward. Advances in digital printing, automation, and recycling technology are improving production efficiency and product customisation. These advances enable businesses to provide high-quality, customised packaging solutions while minimising environmental effect. Hyung Joon Paper and Korea Paper are the market leaders in South Korea's containerboard industry. Hyung Joon Paper is known for its diverse product line and commitment to sustainable practices, utilising innovative recycling technology to suit market demands. Korea Paper is well-known for its strong production skills and devotion to quality, and it maintains a considerable market position because to its diversified product lines and operational competence. Smart packaging innovations, such as integrating QR codes and RFID technologies, are gaining appeal. These technologies improve supply chain management and give consumers with additional product information, so contributing to the overall growth of the containerboard market. The use of digital printing technologies enables greater flexibility and customisation in packaging design. Companies are using these developments to create high-quality, eye-catching packaging that caters to the different needs of consumers and companies.

In South Korea's containerboard business, both recycled paper and virgin fibre are important commodities, each having its own set of roles and trends. Recycled paper is becoming increasingly important in South Korea's containerboard sector as environmental awareness and governmental support for sustainability rise. South Korea has strict environmental rules, such as the Waste Management Act and the Act to Promote Resource Saving and Recycling, which encourage recycling and the use of recycled materials. These regulations increase the demand for recycled paper. Hyung Joon Paper is a key player in the recycled paper market, noted for its commitment to sustainability and cutting-edge recycling methods. The company's investment in recycling infrastructure and technology has established it as a market leader in this sector. Despite its importance, the usage of virgin fibre is being challenged due to environmental concerns and regulatory demands. Virgin fibre production is typically more expensive due to the costs associated with procuring and processing fresh wood pulp. This cost disadvantage, combined with the increased availability of recycled paper, adds to the fall in virgin fibre utilisation.

The demand and growth trends in South Korea's containerboard market vary by end-use category. The food and beverage sector dominates South Korea's containerboard market. The demand for long-lasting and sanitary packaging solutions for food and beverages is significant. Containerboard is critical for ensuring product safety and increasing shelf life. The expansion of the e-commerce and retail industries has greatly raised the need for packaging materials. Containerboard is commonly used for shipping boxes, retail packaging, and protective layers. The textile sector is increasingly using flexible packaging materials and reusable bags to better suit the nature of textile products. These solutions provide better protection and usefulness than typical containerboard. The increased emphasis on high-tech packaging solutions, such as anti-static and moisture-resistant materials, is limiting the use of classic electrical containerboard in this industry.

Considered in this report
• Historic year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Aspects covered in this report
• Containerboard market Outlook with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Material
• Recycled Paper
• Virgin Fibre

By End-use
• Food & Beverage (Fruits & Vegetables, Processed Food, Ready-to-eat-Food, Poultry Products and Others)
• Cosmetics & Personal Care
• Pharmaceuticals
• Textile Industry (Woven and Non-Woven)
• Electrical & Electronics (Smartphones, Television, Computers and Others)
• Others

The approach of the report:

This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience

This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Containerboard industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.