Corrugated Carton Market
Growth Factors of Corrugated Carton Market
The global corrugated carton market size was valued at USD 158.76 billion in 2022 and is projected to grow from USD 164.93 billion in 2023 to USD 218.39 billion by 2030, exhibiting a CAGR of 4.09% during the forecast period of 2023-2030.
COVID-19 led to high activities in the corrugated carton market due to increased e-commerce and home deliveries, though delivery chain disruptions and raw material constraints have affected the corrugated carton market growth.
Horse riding elements for the Corrugated Carton Market encompass the emerging demand for environmentally friendly and recyclable packaging, the growth of web-based trade and purchase, and the matter concerning eco-friendly packaging in several sectors, including but not limited to food & celebrate Electronics & Electronics and medicine.
There is already a widening interest in sustainable packing within the corrugated carton market, fueled by clients and environmentalism. The increased consumer awareness to reduce the ecological impact and use recycled cardboard and compositions of compostability is increasing the global corrugated carton market share. Manufacturers of corrugated cartons address this by lowering waste and increasing recycling quotes to enhance a circular financial system.
Comprehensive Analysis of Corrugated Carton Market
The Corrugated Carton Market is segmented using wall kind, product kind, and give up-use industry. The single-wall segment dominates because of its price effectiveness, lightweight structure, and preference for online agencies. Double-wall cartons, offering more rigidity for long-term storage, are also gaining traction. In terms of product type, slotted cartons lead the market way in terms of their sturdiness and extensive use in shipping throughout industries, especially meals & beverages, pharmaceuticals, and e-trade. The food & beverage sector holds the most significant proportion among quit-use industries, driven by the call for sustainable packaging; at the same time, e-trade follows carefully because of the growth of online shopping.
The Asia Pacific region led the corrugated carton market by benefitting a size of USD 63.14 billion in 2022 due to the upward thrust in e-trade income and packaging pushed by client desire for online buying and the benefit of product availability.
The leading players in the Corrugated Carton Market significantly impact its growth trajectory and establish industry standards. Key companies, including Rengo Co., Ltd. (Japan), Mondi Group (U.K.), Smurfit Kappa (Ireland), International Paper (U.S.), WestRock Company (U.S.), DS Smith (U.K.), Cascades (Canada), Georgia-Pacific, LLC (U.S.), Kapco Packaging (India), and Stora Enso (Finland), contribute to a competitive landscape that drives innovation and market advancement.
In July 2023, Apex Packaging, Oman's most packaging solution company, inaugurated a brand-new plant for corrugated bins in Samail Industrial City. The products produced at this facility are inexpensive, environmentally pleasant, and recyclable, demonstrating the corporation's willpower toward sustainability. As the primary Omani corporation that supplies and innovates with excellent corrugated cardboard, Apex Packaging's new manufacturing facility is vital in pleasing marketplace demands for cardboard cartons and various packaging materials and merchandise.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2030
Base Year 2022
Estimated Year 2023
Forecast Period 2023-2030
Historical Period 2019-2021
Growth Rate CAGR of 4.09% from 2023 to 2030
Unit Value (USD Billion) & Volume (Bn Sq. m.)
Segmentation By Wall Type
Single Wall
Double Wall
Triple Wall
By Product Type
Slotted Carton
Folding Carton
Telescope Carton
Die Cut Carton
By End-Use Industry
Food & Beverage
Pharmaceutical
E-commerce
Chemicals
Building & Construction
Others
By Region
North America (By Wall Type, Product Type, End-Use Industry, and Country)
- U.S. (By Wall Type)
- Canada (By Wall Type)
Europe (By Wall Type, Product Type, End-Use Industry, and Country)
- Germany (By Wall Type)
- United Kingdom (By Wall Type)
- France (By Wall Type)
- Italy (By Wall Type)
- Spain (By Wall Type)
- Russia (By Wall Type)
- Turkey (By Wall Type)
- Rest of Europe (By Wall Type)
Asia Pacific (By Wall Type, Product Type, End-Use Industry, and Country)
- China (By Wall Type)
- India (By Wall Type)
- Japan (By Wall Type)
- Australia (By Wall Type)
- Southeast Asia (By Wall Type)
- Rest of Asia Pacific (By Wall Type)
The Middle East & Africa (By Wall Type, Product Type, End-Use Industry, and Country)
- Saudi Arabia (By Wall Type)
- UAE (By Wall Type)
- Egypt (By Wall Type)
- South Africa (By Wall Type)
- Rest of the Middle East & Africa (By Wall Type)
Latin America (By Wall Type, Product Type, End-Use Industry, and Country)
- Mexico (By Wall Type)
- Brazil (By Wall Type)
- Colombia (By Wall Type)
- Peru (By Wall Type)
- Chile (By Wall Type)
- Ecuador (By Wall Type)
- Uruguay (By Wall Type)
- Argentina (By Wall Type)
- Paraguay (By Wall Type)
- Caribbean (By Wall Type)
- Rest of Latin America (By Wall Type)
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