ID: MRFR/PNT/0698-CR | February 2020 | Region: Global | 109 pages
Corrugated packaging market is expected to reach ~USD 348.9 billion by 2027 and is expected to witness ~5.9% CAGR during the forecast period.
Global Corrugated Packaging Market has witnessed considerable growth in the packaging industry over the past few years. The rising e-commerce industry, coupled with an increase in preference for sustainable packaging solutions, has further enhanced the demand for corrugated packaging products globally. E-commerce platforms have experienced significant growth in the past years due to technological innovations, which resulted in a huge online customer base for corrugated packaging products. Furthermore, the growing application in industries such as food & beverages, personal care, pharmaceuticals, consumer goods, and electronic goods have contributed to the overall market growth. Corrugated packaging is one of the most preferred packagings for small, medium, and large sized products which has increased the demand for these across the globe. The growth in the demand for FMCG products and branded consumer durables in emerging economies such as Asia-Pacific and South America has pushed manufacturers to expand their distribution network, which has further led to a rise in the demand for market. There are various government regulations which lead to restrictions on corrugated packagings, such as the packaging box is to confined to style 201 or 204 of IS: 6481-1971, it is to have a liner (separator) from top, bottom, and center for cushioning, to protect the fragile item during shipment and the box used for shipment should be made from corrugated fibreboard to be able to carry the weight of the products better. Due to increasing regulations in the corrugated box industry and increase in raw material prices, various companies have shut down because of the inability to withstand the cost. Hence, the global market growth is expected .The base year considered for the study of the market is 2019, and the forecast period for the global corrugated packaging market is 2020 to 2027.
Regional Analysis: Global Corrugated Packaging Market
Global Corrugated Packaging Market has been segmented region-wise into North America, Europe, Asia-Pacific, and the rest of the world. Asia-Pacific accounted for the largest market share of around 35%, which is also expected to witness the fastest growth rate during the forecast period. This can be attributed to the booming food & beverage and pharmaceutical industry in emerging economies such as India, Malaysia, Indonesia, and China which is projected to contribute to the demand for corrugated packaging products in the region.
The key players operating in the global corrugated packaging market are Mondi Group, Smurfit Kappa Group, International Paper, Orora Packaging Australia Pty Ltd, DS Smith, WestRock, Georgia-Pacific LLC, Archis Packaging (India) Pvt. Ltd, Europac Group, and Packaging Corporation of America. On 27th June 2019, Smurfit Kappa Group, one of the leading manufacturers of corrugated packaging products, designed an innovative E-commerce packaging for a Latin American online egg seller through eSmart service that ensures minimum to no damaging of the eggs, in order to expand its business across Latin America and to help emerging companies drive business growth through innovative packaging. The global market is highly competitive and fragmented with many players across the globe. The players have adopted various strategies to expand their global presence and increase their market shares. Some of the key strategies adopted by the players are expansions and investments, acquisitions, product developments, and agreements.
Segmentation: Global Corrugated Packaging Market
The global corrugated packaging market has been segmented based on type, wall construction, material, and application. On the basis of type, the global market has been segmented into rigid boxes, self-erecting boxes, telescope boxes, slotted boxes, and others. The rigid boxes segmented accounted for the largest market share in 2018, which will continue its dominance during the forecast period. This is attributed to the widespread demand of these boxes across the verticals such as food & beverage, pharmaceutical, and personal care industries. The telescope boxes segment has been further classified as full telescope design container and half telescope design container. The slotted boxes segment has been further classified as regular slotted containers (RSC), half slotted containers (HSC), and full overlap slotted boxes (FOL). On the basis of wall construction, the global market has been segmented into single-wall, double-wall, and triple-wall. The single-wall segment accounted for the largest market share in 2018, which is expected to witness maximum CAGR during the forecast period. These sheets are cost-effective and therefore, are widely used as shipping cases from online merchants. They provide rigidity and shock absorption for protecting the contents stored inside. Based on material, the global market has been segmented into linerboard, medium, and others. The linerboard segment accounted for the largest market share of around 32% in the overall corrugated packaging market, which is also expected to register a high growth rate during the forecast period. These materials are composed of natural unbleached wood fibers. On the basis of application, the global market has been segmented into food & beverages, electronic goods, pharmaceuticals, personal care, and others. In 2018, the food & beverage segment held the largest market share and was anticipated to register a high growth rate in the global market. The increased demand for processed food products is leading to the increased adoption of the corrugated boxes. In the food & beverage industry, corrugated boxes are used for products such as liquid bottles, fruits & vegetables, ready-to-eat food, and confectionary products. Online retailing of food & beverages is also driving the use of corrugated boxes, mainly in emerging economies, such as China and India.
|Market Size||2027: USD 348.9 Billion|
|CAGR||5.9% CAGR (2020-2027)|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Wall Construction , Material and By Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Mondi Group, Smurfit Kappa Group, International Paper, Orora Packaging Australia Pty Ltd, DS Smith, WestRock, Georgia-Pacific LLC, Archis Packaging (India) Pvt. Ltd, Europac Group, and Packaging Corporation of America|
|Key Market Opportunities||Increase in disposable income of developing industries|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The market can note a growth rate of 5.9% during the evaluation period.
The global market can touch a valuation of USD 348.9 Billion by 2027.
The prominent companies listed in the report are DS Smith, Orora Packaging Australia Pty Ltd, International Paper, WestRock, Mondi Group, Archis Packaging (India) Pvt. Ltd, Smurfit Kappa Group, Georgia-Pacific LLC, Packaging Corporation of America, Europac Group, and others.
The expansion of the e-commerce sector and the surge in online retailing of food & beverages boosts the sale of corrugated boxes in India and China.
The types of slotted boxes considered in the report are full overlap slotted boxes (FOL), half slotted containers (HSC), regular slotted containers (RSC), and others.
A share of close to 35% comes under APAC in the global market.
The growth favoring aspects in the global market include expansion of the e-commerce industry, along with the rising preference for sustainable packaging solutions among others.