Finland packaging sector sits at the center of the European food and FMCG supply chain. The country combines forest-based raw material access, advanced board technology and export-driven industrial groups that supply cartons, flexible packaging and foodservice materials worldwide. In recent fiscal cycles, Finnish-headquartered companies have remained structurally important to supermarket private label programs, global beverage brands and international quick-service chains.
The market is highly concentrated at the top. A small number of multinational forest and packaging groups account for the majority of revenue linked to fibre-based food packaging, specialty materials and consumer board exports.
Below is a revenue-led ranking based on publicly available FY2024–FY2025 financial disclosures.
Revenue and Global Footprint Overview (FY2024–FY2025)
| Company | Revenue (Latest FY) | Fiscal Year | Employees | Countries of Operation | Core FMCG Packaging Exposure |
|---|---|---|---|---|---|
| UPM-Kymmene | ~€10–11bn (Group) | FY2024 | ~17,000 | 40+ | Barrier papers, labels |
| Stora Enso | ~€9–10bn (Group) | FY2024 | ~20,000 | 30+ | Folding boxboard, containerboard |
| Huhtamaki | ~€4–4.5bn | FY2024 | ~18,000 | 35+ | Flexible & foodservice |
| Ahlstrom | ~€3bn (Group) | FY2024 | ~7,000 | 20+ | Food-contact fibre materials |
| Metsä Board | ~€2bn | FY2024 | ~2,500 | 30+ | Premium folding boxboard |
| Walki Group | ~€700–800m | FY2024 | ~1,700 | 10+ | Barrier laminates |
| Pyroll | ~€150m+ | FY2024 | ~500 | Nordic focus | Flexible packaging |
| Westpak Group | ~€100m+ | FY2024 | ~400 | Europe | Retail packaging |
| Starcke Oy | ~€50m+ | FY2024 | ~300 | Finland + exports | Printed cartons |
| Marvaco | ~€40m+ | FY2024 | ~200 | Nordic + EU | Packaging prepress |
Revenue figures reflect total group revenue where specified. Packaging-specific revenue may represent a segment of total operations in diversified forest industry groups.
1. UPM-Kymmene
Founded in 1996 through the merger of Kymmene and Repola, UPM is one of Finland’s largest forest-industry groups.
Core packaging-related categories:
Barrier papers
Specialty food wrapping papers
Label materials
Renewable flexible packaging substrates
UPM’s packaging exposure sits primarily within Specialty Papers and Raflatac label materials. While pulp and energy operations contribute significantly to overall turnover, UPM’s barrier paper development has become structurally important as retailers transition away from fossil-based flexible plastics.
Operationally, UPM’s materials are integrated into European supermarket own-brand packaging and food export programs. Its innovation focus centers on fibre-based replacement materials compatible with existing converting lines.
2. Stora Enso
Established in its modern form in 1998, with historical roots dating back centuries, Stora Enso operates across renewable materials and packaging board.
Core packaging categories:
Folding boxboard
Containerboard
Corrugated packaging
Barrier-coated fibre board
The company’s Packaging Materials division represents a significant share of revenue. Its board is widely used in frozen food cartons, dairy packaging, confectionery and beverage multipacks.
Stora Enso holds a strategic position in European cartonboard supply. Capacity investments in recent years have targeted premium lightweight board and renewable barrier technologies designed to meet tightening EU packaging regulations.
3. Huhtamaki
Founded in 1920, Huhtamaki is Finland’s largest pure-play packaging company.
Core categories:
Flexible packaging
Foodservice packaging
Molded fibre solutions
Retail food containers
Unlike diversified forest groups, Huhtamaki’s revenue is predominantly packaging-driven. It supplies quick-service restaurant chains, global beverage brands and supermarket private label programs.
Geographically diversified production facilities across Europe, Asia and the Americas give Huhtamaki exposure to high-growth emerging markets alongside mature EU retail systems.
Recent strategy has focused on recyclable flexible packaging and molded fibre as alternatives to rigid plastics.
4. Ahlstrom
Founded in 1851, Ahlstrom operates as a specialty fibre materials supplier.
Core packaging-related materials:
Coffee filter papers
Baking papers
Food contact materials
Sustainable fibre substrates
Ahlstrom does not operate as a traditional carton producer but supplies critical fibre components embedded within food packaging systems.
Its global manufacturing footprint supports multinational coffee, food and filtration brands.
Strategic direction emphasizes specialty materials with higher margins and regulatory-compliant food-contact performance.
5. Metsä Board
Metsä Board, part of Metsä Group, traces its origins to the Finnish forest cooperative system.
Core categories:
Premium lightweight folding boxboard
White kraftliners
The company’s board is positioned in high-end retail and food packaging where strength-to-weight performance reduces material usage and transport emissions.
Metsä Board has invested in mill modernization to increase efficiency and lower Scope 1 and 2 emissions intensity.
The company’s revenue scale is smaller than Huhtamaki and Ahlstrom but its strategic position in premium FMCG packaging remains significant.
6. Walki Group
Founded in 1930s Finland, Walki specializes in barrier laminates and protective packaging materials.
Core categories:
Recyclable barrier laminates
Food wrapping materials
Industrial protective packaging
Walki’s customer base includes food producers requiring moisture and oxygen barrier solutions.
The group has expanded internationally, focusing on sustainable multilayer material redesign to align with EU recyclability requirements.
7. Pyroll
Established in 1973, Pyroll focuses on flexible packaging and label solutions.
Core categories:
Food packaging films
Printed packaging
Label production
Its operations are primarily Nordic, serving domestic food producers and retailers.
8. Westpak Group
Westpak operates as a packaging solutions provider across retail and industrial sectors.
Core categories:
Protective packaging
Retail packaging
Industrial packaging solutions
While smaller in scale, the company supports Finnish manufacturing exports.
9. Starcke Oy
Starcke is a printed packaging specialist.
Core categories:
Printed cartons
FMCG packaging graphics
The company operates primarily within Finland, with selective export activity.
10. Marvaco
Founded in 1934, Marvaco focuses on flexographic prepress solutions.
Core categories:
Packaging design prepress
Print reproduction services
Though not a board manufacturer, Marvaco plays a critical role in retail packaging production quality across Nordic FMCG brands.
Market Structure Impact
Finland’s packaging sector is shaped by vertically integrated forest ownership structures. Large groups control fibre sourcing, pulp production and board manufacturing, creating structural cost advantages.
This integration provides resilience during raw material volatility cycles and energy price shocks.
At the same time, pure-play packaging groups such as Huhtamaki operate asset-light flexible packaging networks globally, reducing dependency on domestic fibre cycles.
Category Dominance Trends
Fibre-based board remains the dominant export category.
Key trends include:
Lightweighting of folding boxboard
Replacement of plastic barrier layers
Growth in molded fibre foodservice packaging
Increasing demand for recyclable flexible packaging
EU regulatory pressure under packaging waste directives continues to shape capital allocation.
Industry Direction
The Finnish packaging ecosystem is transitioning toward:
Fossil-free production energy
Fibre-based barrier innovation
Circular material systems
Export growth in Asia and North America
Investment has increasingly targeted decarbonisation of mills and development of recyclable multilayer alternatives.
Structural Outlook
Revenue concentration at the top is expected to remain high.
UPM and Stora Enso will likely maintain scale advantages through integrated forest supply chains.
Huhtamaki’s global footprint positions it well in flexible and foodservice growth markets.
Mid-sized players such as Walki and Pyroll may focus on specialization and sustainable niche materials rather than scale competition.
Finland will continue to serve as a core supplier to European supermarket packaging systems, particularly in premium cartonboard and renewable material segments.
Conclusion
Finland packaging sector remains structurally important to European food and FMCG supply chains.
The largest revenue generators are diversified forest groups, while pure-play packaging firms provide category-specific leadership in foodservice and flexible materials.
The direction of travel is clear: fibre-based innovation, decarbonisation and export-oriented growth will define the next phase of Finnish packaging development.
Editor’s Note: All financial information is based on publicly available FY2024–FY2025 company annual reports and disclosures. Revenue figures reflect total group revenue where applicable. Currency figures are presented in euros as reported by each company.
