Global Corrugated Packaging Market Analysis and Forecast (2018-2028)

Global Corrugated Packaging Market Analysis and Forecast (2018-2028)

Executive Summary

The Global Corrugated Packaging market witnessed tremendous growth in past two decades, registering a single digit growth from 2018-22. Corrugated packaging is widely used in various industries for shipping, transportation, and storage purposes due to its lightweight, cost-effective, and environmentally friendly nature. Key factors driving the market include the growth of the e-commerce industry, increased digital printing advancement, and the rising need for efficient supply chain management.

The global corrugated packaging market is a large and growing industry that is driven by the increasing demand for sustainable and eco-friendly packaging solutions. In addition, government moves to outlaw plastic-based packaging in nations like India are refocusing attention on paper packaging. Foreign Direct Investments (FDIs) and investments in a variety of packaging initiatives in several nations are probably going to increase quickly.

Recent Development in Global Corrugated Packaging Market

Increasing Number of New Players

• Global Corrugated Box market is highly fragmented and dominated by a number of large players. However, in recent years, new players have entered and made their influence felt. For instance, Delmarva Corrugated Packaging is one of the most progressive and forward-thinking businesses in the corrugated packaging sector, focusing on offering top-tier goods at competitive prices.

Emerging Technology

• Noel Alimentaria and Mondi collaborated to introduce new paper-based food tray for a plant-based and meat food range.
• A corrugated cardboard box for the shipping of medical devices via the internet was designed and introduced by DS Smith, a UK-based manufacturer of sustainable packaging. Instead of adhesive packaging with a single-use plastic insert, this revolutionary corrugated cardboard box offers a solution made of a single material.

Performance of Segmentation

By Products: In the Global Corrugated Packaging Market, the largest market share is held by the food and beverage industry, which also uses corrugated packaging extensively followed by Others, Paper & Paper products, Electricals & Electronics, personal care and health care.

Recently, the healthcare and pharmaceutical industry is emerging as a significant end-user of corrugated packaging. Corrugated boxes and containers are used for packaging and transporting medical devices, equipment, and pharmaceutical products. The packaging solutions must comply with strict regulatory requirements and must be able to maintain the integrity and sterility of the products.

By Geography: Asia-Pacific accounted for the largest market share. Due to rising per capita wealth, the local population in the region has a preference for convenient packed food products. In addition, the growing number of working women in the region has boosted market growth.

North America holds the second largest market share, the region has a well-established packaging industry and a strong presence of key end-use sectors such as food and beverage, e-commerce, retail, and electronics but from the last few years the market is growing at a slow pace. Whereas, Europe is predicted to grow at a healthy rate between 2022 and 2027 and the MEAN region is an emerging market and is growing at a positive rate.

Future Outlook

The corrugated packaging sector is rapidly expanding, aided mostly by the introduction of e-commerce and advancements in digital printing technology. In recent years, the e-commerce sector has grown significantly as an end-user industry. Corrugated board boxes have been the primary packaging for large e-commerce enterprises such as Amazon, and they rely on plastic wrapping for individual goods. Even in countries where online purchasing is already popular, e-commerce is expected to develop further.

Consumption of corrugated packaging materials is likely to increase by nearly 4% annually between 2022 and 2027. During the forecast period, between 2023 and 2028, the Global Corrugated Box market is expected to grow at a rapid pace. In 2023, the market is developing steadily, and with major players increasingly adopting strategies, the market is likely to rise over the projected horizon.

Despite the presence of fierce competition, investors are still enthusiastic about this market since the global recovery trend is obvious, and there will be more fresh investments entering the field in the future.

Scope of the Study

Makreo research has published study on packaging market specific to corrugated boxes titled, “Global Corrugated Packaging Market Analysis & Forecast (2018-2028)”. The study evaluates corrugated packaging market demand and production facts with detailed assessment of past and present market trends. Market has witnessed many shifts in recent past that has impacted profit margins of the players but also accounted for rise in demand. E-commerce is an emerging sector in the country that has given significant push to the corrugated box demand. Report is the right blend of qualitative and quantitative factors with macro-economic and micro economic assessment. Competition has also been studied to verify our assessment using bottom up approach.

Segmentation Covered: Food & Beverages, Paper & Paper Product, Electrical & Electronics, Personal Care, Healthcare & Pharmaceuticals and Others

By Geography: Asia Pacific, North America, Europe, Latin America, Middle East & Africa

Company’s Discussed in the Report

• International Paper Company
• Packing Corporation of America
• Matthews International Corp.
• Graphic Packaging Holding Co.
• Smurfit Kappa Group Plc
• West Rock Company
• DS Smith Plc.
• Mondi Group Plc
• Oji Holdings Corporation
• Nine Dragons Paper (Holdings) Limited
• Rengo Co., Ltd.
• Cascades Inc.
• Menasha Corporation
• Georgia Pacific Packaging LLC
• Lee & Man Paper Manufacturing Ltd