Corrugated Packaging Market Research Report - Global Forecast 2030

Corrugated Packaging Market Research Report: Information, by Type (Rigid Boxes, Self-Erecting Boxes, Telescope Boxes, Slotted Boxes, and Others), By Wall Construction (Single-Wall, Double-Wall, and Triple-Wall), by Material (Linerboard, Medium, and Others), By Application (Food & Beverages, Electronic Goods, Pharmaceuticals, Personal Care, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World) - Forecast till 2030

ID: MRFR/PNT/0698-CR | February 2020 | Region: Global | 109 pages

Corrugated Packaging Market Overview


Corrugated packaging market is projected to be worth USD 415.73 Billion by 2030, registering a CAGR of 5% during the forecast period (2022 - 2030), The market was valued at USD 233.61 billion in 2021.


The packaging business has seen significant expansion in recent years, particularly in the global corrugated packaging market. Corrugated boxes are gaining popularity in the food and beverage and e-commerce businesses around the world.


Thus, corrugated board packaging is a flexible and cost-effective way to protect, store, and transport a variety of items. The characteristics of corrugated boards, such as their lightweight, biodegradability, and recyclability, have made them an important component in the packaging market.


COVID 19 Analysis


The COVID-19 episode began in Wuhan, China, in December 2019, and has rapidly spread around the world since then. the corrugated packaging market growth has been affected because of the outbreak of the pandemic. As of March 2020, China, Italy, Iran, Spain, the Republic of Korea, France, Germany, and the United States are among the most clearly affected nations in terms of specific incidents and detailed passing. Because of lockdowns, travel boycotts, and commercial closures, the COVID-19 episode has had an impact on economies and ventures in various countries. Because of this episode, the global food and beverage industry is one of the major organizations experiencing genuine disruptions, such as store network breaks, innovation event undoing, and office closures. With the presence of and the largest crude material suppliers, China is the global assembling center. The closure of processing plants, the obstacle in the store network, and the fall in the global economy are all influencing the growth of the bacon market as a result of COVID-19.


Competitive Landscape


The global corrugated packaging market is estimated to grow at a 5.9% CAGR by the end of the global forecast period in 2030. The emergence of the key market players is important to help the market grow and reach the predicted figures by the end of the forecast period in 2028. Companies are continually innovating and delivering environmentally friendly packaging items to encourage sustainable packaging. The key markets players have been recognized under the head of the global market competition owing to the recent developments that have been undertaken by them are as follows:



  • Mondi Group Plc (South Africa)

  • International Paper Company (U.S.)

  • West Rock Company (U.S.)

  • DS Smith Plc (U.K.)

  • Rengo Co. Ltd. (Japan)

  • Cascades Inc. (Canada)

  • Packaging Corporation of America (U.S.)

  • Georgia-Pacific LLC (U.S.)

  • Smurfit Kappa Group (Ireland)


Market Dynamics


Drivers


The main driving force for the corrugated packaging market share is the rising e-commerce industry which is coupled with an increase in preference for sustainable packaging solutions. Due to technology advancements, e-commerce platforms have seen substantial expansion in recent years, resulting in a large online client base for corrugated packaging materials. Furthermore, the expanding application in industries such as food & drinks, personal care, pharmaceuticals, consumer products, and electrical goods has aided market expansion. Corrugated packaging is one of the most popular packaging options for small, medium, and large-sized products, resulting in rising demand around the world. Durability and Sturdiness of the corrugated packaging material have also driven its growth and are expected to rise gradually over the forecast period ending in 2030.


Restraints


The inability of corrugated boards to pack large objects may stifle demand for corrugated board packaging and hinder the target corrugated packaging market's growth during the projection period. Furthermore, corrugated cardboard is not a suitable alternative for packing in the case of weatherproofing, and individual transportation is another aspect that may limit the target market's growth to some extent. This is considered the major restraint on the global corrugated packaging market.


The lack of low-cost alternatives to corrugated boxes is a key market limitation. Corrugated plastic containers, which are more durable, appealing, and cost-effective than corrugated boxes, are on the market, restraining the demand for corrugated boxes. The demand for corrugated boxes is further hampered by rising raw material prices.


Technology Analysis


The ongoing period for the corrugated packaging market is witnessing an emerging trend in the form of wide-scale adoption of packaging material especially corrugated packaging making it more acceptable in the market. Corrugated board is in high demand as a high-performance packaging material for packaging, protection, and promotion of a variety of products all over the world. Corrugated board is available in a variety of shapes and sizes for packaging, as well as easy modification to meet consumer needs. Even the key market players play a major role in the expansion of the material and growth in the market. The major key players’ locations are the USA, South Africa, the UK, Ireland, Japan, and Canada who are targeting widespread growth during the forecast period ending in 2030.


Study Objectives



  • The main objective of this report is to study the corrugated packaging market trends of the corrugated packaging material market and analyze the growth of the market by the end of the forecast period in 2030.

  • The corrugated packaging market report gives a detailed analysis of the considerable growth in the packaging industry in the historic forecast period concerning the predicted forecast period ending in 2030.

  • The global corrugated packaging market report helps to analyze the functioning of key market players around the globe and also helps in achieving the estimated target by the year 2030.


Segment Overview


The global corrugated packaging market has materials that are further bifurcated into various segments depending on the type, application, wall construction, and many more to help the market grow as per the predicted CAGR growth by the end of the future forecast period in 2028. The market has been segmented based on the following:


Based on the type, the market has been segmented as follows:



  • Rigid Boxes

  • Self Erecting Boxes

  • Telescope Boxes

  • Slotted Boxes

  • Folder Boxes


Based on the application, the market has been segmented as follows:



  • Food and Beverages

  • Electronic goods

  • Pharmaceuticals

  • Personal care

  • Chemicals

  • Textile Goods


Based on the wall construction, the market has been segmented as follows:



  • Single-Wall

  • Double-Wall

  • Triple-Wall


Based on the material, the market has been segmented as follows:



  • Linerboard

  • Medium

  • Others (starch-based adhesives, and wax)


Based on the printing technology, the corrugated packaging market has been segmented as follows:



  • Digital Printing

  • Flexographic Printing

  • Lithography Printing

  • Others(screen, gravure)


Based on the region, the market has been segmented as follows:



  • North America

  • Europe

  • Asia – Pacific

  • ROW(Brazil, Argentina, South Africa)


Intended Audience



  • Raw material suppliers

  • End users

  • Packaging manufacturers

  • Traders & distributors

  • Regulatory bodies

  • Market research and consulting firms


Regional Analysis


North America, Europe, Asia-Pacific, and the rest of the world are the regions in which the global corrugated packaging market is divided. Asia-Pacific held the greatest market share of over 35%, and it is also predicted to grow at the fastest rate throughout the projection period. This is due to the growing food, beverage, and pharmaceutical industries in emerging economies like India, Malaysia, Indonesia, and China, which is expected to boost demand for corrugated packaging in the region. The use of eco-friendly packaging materials, combined with the work of The Corrugated Packaging Alliance (CPA), a corrugated industry program aimed at encouraging the use of corrugated packaging, is boosting the market's growth.


Recent Developments



  • Most competitors in this industry used mergers and acquisitions, partnerships, contracts, and joint ventures as their primary tactics. The top corrugated box manufacturers are concentrating their efforts on developing countries that are expected to display industrial development potential in the coming years especially during the forecast period ending in 2030.

  • Mondi Group teamed up with Cartro, a Mexican corrugated packaging manufacturer, to provide environmentally friendly packaging for fresh food. Mondi's paper grades, including ProVantage Kraft liner Aqua, satisfy these specifications, and the two firms have collaborated to create an entirely new corrugated box to meet the needs.

  • Klabin S.A. has agreed to buy International Paper's Brazilian corrugated packaging business for 330 million Brazilian Real, with 280 million paid at signing and 50 million paid a year later. The business includes three containerboard mills and four box factories.


Report Overview


The report for the corrugated packaging market has been prepared after having a deep study and going through each aspect of the market by analyzing the data which aims for excellent market growth during the ongoing forecast period that will end in 2030. The market is increasing in line with the transforming and packaging sectors' growth trends. The global corrugated box market has been spurred by factors such as rising demand from the fresh food and beverage, home & personal care items, and electronic goods industries.



Report Scope:
Report Attribute/Metric Details
  Market Size   2030: USD 415.73 Billion
  CAGR   5% CAGR (2022-2030)
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2019 & 2020
  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

  • Online retailing of food & beverages
  • Technological innovations
  • Growing Demand for product safety


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    Frequently Asked Questions (FAQ) :


    The market can note a growth rate of 5% during the evaluation period.

    The global market can touch a valuation of USD 415.73 Billion by 2030.

    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.