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Corrugated Boxes Market Analysis

ID: MRFR//2835-CR | 185 Pages | Author: Varsha More| October 2020

The growth, demand, and general competitiveness of corrugated box industries' current dynamics are influenced by a combination of several factors, including changes in consumer behavior that drive these industries forward every day. Corrugated boxes are vital in packaging and transporting various commodities, and they are essential components within the global supply chain network. A major driver for the corrugated boxes industry that has been witnessed over recent times is the rapid rise in e-commerce trade globally. As online shopping gains popularity, the need for reliable yet cost-effective packaging solutions arises, especially among online store owners who want their goods safely delivered to customers at the lowest rates possible. Due to their durability and versatility, corrugated boxes have become the most preferred packaging option for e-commerce companies during product transportation. The market size of corrugated boxes is predicted to continue expanding as online shopping increasingly dominates the retail space.
Additionally, the market dynamics have been significantly affected by the focus on sustainability and environmental concerns. Corrugated boxes are inherently environmentally friendly as they are made from recycled materials and are themselves recyclable. Prices of raw materials also influence the packaging industry, among them corrugated boxes. Changing paper and pulp prices, which form major components of these products, may directly affect the cost of production, resulting in changes in the final prices of corrugated cardboard. Besides affecting demand for packaged goods, global economic conditions play a significant role in shaping market dynamics in this sector. Economic growth, trade policies, and consumer spending patterns all impact the demand for packed items, hence requiring more corrugated cardboard. A vibrant economy that is growing means more goods will be produced and transported, hence a higher need for packaging materials.
Additionally, technological advancements have changed the way things are done in the carton box industry. This has resulted in the automation of manufacturing processes that have resulted in increased efficiency, lower production costs, and better quality. The marketplace is influenced by competition between large- and small-scale manufacturers. In most cases, bigger companies enjoy economies of scale, and they have wider distribution networks, which makes them more competitive. The global cartoon box market is also subject to international trends and geopolitical events, as well as domestic factors. Trade wars, regulations change, or even world happenings can impact supply chain dynamics that influence corrugated box markets.

Global Corrugated Boxes Market Overview

The Corrugated Boxes Market Size was valued at USD 213.33 billion in 2023. The Corrugated Boxes industry is projected to grow from USD 225.06 billion in 2024 to USD 369.66 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.4% during the forecast period (2024–2032). The boost of the food service industry, health care, and personal care products are driving market growth.

Corrugated Boxes Market Overview

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Corrugated Boxes Market Trends

  • Online shopping and the food service industry boost the market growth.

Corrugated box packaging is a secondary shipping box that is commonly utilized in the industrial and warehousing industries. The market is specially designed to pack items and goods for protection and effective shipment. The market was originally utilized for the industrial sector, but in recent years, it has been actively employed in the pharmaceutical, chemical, and cosmetics industries. In recent years, there has been a significant increase in the market for corrugated products.

Furthermore, the growth of the e-commerce sector and the increasing reliance on online shopping platforms for acquiring various products is fueling demand for corrugated boxes business, which provide optimum mechanical stress protection. The corrugated box manufacturers can print photorealistic images, which aids in successful marketing, brand awareness, and product promotion among consumers. Aside from that, the growing preference for innovative and ecological packaging materials presents significant growth potential for regional industry participants.

Additionally, the perception of the corrugated market and the increase in demand for food and drink are driving corrugated box sales in both developed and developing nations. Three cardboard sheets are layered one on top of the other to create the corrugated boxes, which are expertly made and offer good support and protection for fragile things. Some essential characteristics, including adaptability, toughness, environmental friendliness, and low weight, encourage potential end-user industries to employ the market. Corrugated boxes manufacturing is increasingly being preferred over other packing methods such as self-sealing boxes, plastic boxes, and retention packaging, owing to growing concerns about their sustainability in the value chain. Because corrugated material is easily recycled, it is in high demand for packaging purposes. Furthermore, retail-ready packaging saves time and money. Other benefits include its eco-friendliness and cheaper cost in comparison to other products, all of which are driving the growth of the Corrugated Boxes Market revenue.

Corrugated Boxes Market Segment Insights

Corrugated Boxes Type Insights

The Corrugated Boxes Market segmentation, based on type, includes Rigid Boxes, Self-Erecting Boxes, Telescope Boxes, Slotted Boxes, and Others. The sector of slotted boxes segment outperformed the market in terms of the Corrugated Boxes Market revenue. They are often made from a single sheet of corrugated board that has been sewn, taped, or glued together. The boxes are supplied directly to the user once the blank, or tray, is cut and a folding aid is installed. The user must square the box, place the item inside, and then seal the flaps to complete it. To offer enough loading strength, the product is aligned with the depth. Because it generates minimal waste during manufacture, the slotted box is a highly efficient product. It is perfect for transporting a range of objects, such as cups, mugs, and books.

September 2021 The Mondi Group extended its corrugated box production plant in Szczecin, Poland, by installing new equipment. This expansion intends to enhance the company's packaging portfolio and improve manufacturing procedures. This development is expected to boost the company's position as a preferred e-commerce packaging provider to Europe's expanding markets.

October 2021 Verzuolo has been acquired by Smurfit Kappa Group. In 2019, the company transformed a PM9 machine into a cutting-edge 661,387-ton recycled containerboard mill thanks to this acquisition. It is intended to supplement existing and strategically situated operational facilities near the Port of Savona. This is likely to benefit both the corporation and its customers.

Corrugated Boxes Wall Construction Insights

The Corrugated Boxes Market segmentation, based on Wall Construction, includes single-Wall, double-Wall, and triple-Wall. The market for corrugated boxes was dominated by the single-wall category. Single-wall corrugated boxes scope are ideal for transporting light things because they are lightweight. Additionally, because of their versatility, they are simple to transform into any size as needed. The C flute, which is categorized as a medium-sized flute, the B flute, which is a fine flute, and the E flute, which is categorized as a micro-flute, are all compatible with this kind of board. The flute between the inner and outer liners can absorb shocks during product transportation, while the inner and outer liners offer the box structural strength. The demand for single-wall variations is anticipated to increase significantly throughout the forecast period along with the rising need for bespoke corrugated boxes. Hence, the rising demand for single wall Corrugated Boxes uses positively impacts market growth.

Figure 2: Corrugated Boxes Market, by Wall Construction, 2021 & 2030Corrugated Boxes Market, by Wall ConstructionSource: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Corrugated Boxes Application Insights

The Corrugated Boxes Market data has been bifurcated by Application into food & beverages, consumer goods, personal care, pharmaceuticals, e-commerce, and others. The food and beverage industry is anticipated to rule the market in 2021 as corrugated boxes are being used to export fruits and vegetables and extend the shelf life of food goods. Some of the most significant subsectors in the food and beverage industry are non-perishable goods, processed foods, and organic vegetables. In the food and beverage industry, packaging is necessary for product handling, storage, and transportation. Corrugated cardboard boxes are required for delivering processed foods, perishable goods, and fragile things. Corrugated boxes are perfect for packaging, shipping, and storing food for a long time because they don't react with anything. It is critical to pick acceptable packaging materials that are also visually appealing and indicate that the item is safe when packing prepared meals. As a result, Corrugated Boxes are used to package ready-to-eat products.

December 2021 Leading market players, such as Mondi, have recently introduced a new product in their product line, Bcool box, which claims to preserve food for over hours, providing a push factor to developed countries while also establishing precedents for poorer countries that will help to foster the Corrugated Boxes industry.

Corrugated Boxes Regional Insights

By Region, the study segments the market into North America, Europe, Asia-Pacific, and the Rest of the World. Because of rising demand in the healthcare business, the corrugated boxes industry in North America is predicted to increase at a CAGR of 16% over the forecast period. In recent years, the corrugated box industry has grown due to an increase in the frequency of emergencies and government initiatives to help healthcare systems across the United States. Rising healthcare costs and consumer awareness of the healthcare sector create a lucrative opportunity for the corrugate industry's overall growth.

Further, the major countries studied are the U.S, Canada, France, UK, Italy, Spain, Japan, India, Australia, South Korea, and Brazil.

Figure 3: CORRUGATED BOXES MARKET SHARE BY REGION 2021 & 2030 (%)CORRUGATED BOXES MARKET SHARE BY REGIONSource: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Europe corrugated boxes market dominate the corrugated box market, and single-wall corrugated box production and consumption are increasing in the region. Due to increased demand for compact single-wall corrugated boxes, Germany Corrugated Boxes market led the European market. Furthermore, the UK Corrugated Boxes Market was the fastest-growing market in the European region.

The Asia-Pacific Corrugated Boxes Market is expected to grow at a significant CAGR from 2022 to 2030. This is due to the region's growing food and beverage, and pharmaceutical industries. Moreover, the China Corrugated Boxes Market held the largest market share, and the India Corrugated Boxes Market was the fastest-growing market in the Asia-Pacific region.

Corrugated Boxes Key Market Players & Competitive Insights

Major market players are spending a lot of money on R&D to increase their product lines, which will help the Corrugated Boxes Market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Corrugated Boxes industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

One of the primary business strategies adopted by manufacturers in the Corrugated Boxes industry to benefit clients and expand the Corrugated Boxes market sector is to manufacture locally to reduce operating costs.

Rengo Co., Ltd. announced that its Vietnamese joint venture, Vina Kraft Paper Co., Ltd., has decided to establish a new containerboard production facility. In 2019, Vietnam's total annual demand for containerboard surpassed 3 million tonnes, owing to ongoing foreign direct investment (mostly in the export sector) and rising domestic consumption. Vina Kraft Paper is ready to solidify its position as the market leader in Vietnam's containerboard industry, with the new factory geared toward long-term growth and expansion. It is also planned to transform Vietnam's domestic integrated containerboard production system into a corrugated box production system.

List of the Key Companies in the Corrugated Boxes Market include:

Corrugated Boxes Industry Developments

November 2021 The Smurfit Kappa Group, a corrugation industry leader, has opted to grow the corrugated market by establishing an e-commerce packaging laboratory.

October 2020 Klabin S.A. acquired the corrugated board and paper for packaging units from International Paper in Brazil in March for USD 330.00 million, received antitrust permission, and began operations. This advancement aided the company's revenue and production capacity of corrugated items in the market.

June 2023 WestRock Company announced that it would be acquiring Greenfield Packaging for $1.6 billion. Greenfield is a leading manufacturer of corrugated packaging products in North America

Corrugated Boxes Market Segmentation

Corrugated Boxes Type Outlook

  • Rigid Boxes

  • Self-Erecting Boxes

  • Telescope Boxes

  • Slotted Boxes

  • Others

Corrugated Boxes Wall Construction Outlook

  • Single-Wall

  • Double-Wall

  • Triple-Wall

Corrugated Boxes Application Outlook

  • Food & Beverages

  • Consumer Goods

  • Personal Care

  • Pharmaceuticals

  • E-Commerce

  • Others

Corrugated Boxes Regional Outlook

  • North America

    • US

    • Canada

  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

    • Latin America

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