North America Corrugated Packaging Market Analysis and Forecast (2018-2028)

North America Corrugated Packaging Market Analysis and Forecast (2018-2028)

Executive Summary

North America is the world's largest consumer of packaging and is characterised by companies like International Paper, Tetrapak, Reynolds Group, Ball Corporation, and Owens-Illinois among its packaging juggernauts. Corrugated board is increasingly being used in various end-use industries, including food and beverage, consumer durables, e-commerce, and electronics, fueling market expansion in North America. Additionally, there has been an increase in flexible packaging demand in North America, which calls for corrugated boards. In North America, there is a rising demand for sustainable packaging solutions due to the growing concerns about the impact of packaging waste on the environment.

Impact of COVID-19

As the pandemic grew severe in 2020, corrugated box shipments started to witness rapid demand, first rising on the back of significant purchases of necessities before plummeting during the initial, stringent round of lockdowns. Nevertheless, as 2020 went on, packaged goods sales, particularly those supplied via e-commerce, started to increase dramatically, which in turn led to a significant increase in corrugated box shipments and containerboard demand.

Processed Food Driving Corrugated Packaging Demand

The desire for processed food, which is convenient and wholesome, is also driven by the growing population. Corrugated board packaging, particularly secondary or tertiary packing, is being adopted by businesses more frequently to provide customers with better results since it protects products from moisture and endures lengthy delivery times.

Throughout the past few years, a variety of factors have contributed to the steady growth of the North America corrugated packaging box market. Some significant factors include e-commerce and online shopping, which has raised demand for packaging supplies like corrugated boxes.

Performance of Corrugated Packaging by Segmentation

By Region: Of the three North American countries, Mexico is forecasted to have the highest percentage of growth in both the short and mid-term. As containerboard firms grow their global footprint, it is seen that there is an increase in local and foreign investments flowing into Mexico for capacity development and facility upgrades. Old corrugated containers demand are increasing largely among both domestic and international market, as Mexico produces almost entirely containerboard from recycled materials.

By End Users: The North America Corrugated Packaging Market is a dynamic and diverse industry that serves a wide range of end-users across various industries. The Food and Beverages industry is one of the largest end-users of corrugated packaging in the North America. Packaging is necessary for 75% of all finished goods in Mexico, 90% of which are foods and beverages. The healthcare and pharmaceuticals industry is another significant end-user of corrugated packaging and after the COVID-19 outburst corrugated industry has witnessed sharp rise in demand from the pharmaceuticals sector which was the result of rise in shipments of medicines.

Raw Material Pricing

Pricing of raw material is predicted to continue to be a concern for the manufacturers in 2023 & 2024 that will slow down the demand for corrugated boxes and will also open the doors for other alternative packaging material.

Future Outlook

The North America Corrugated Packaging market is expected to witness a moderate growth during the year 2023, as a result of the increased trend of online shopping and e-commerce. In addition, corrugated boxes are a preferred option for businesses aiming to minimize their environmental impact due to its sustainability and capacity to be recycled, owing to this the US corrugated packaging box market is expected to continue to grow in the coming years

Key Factors Discussed

• In 2021, corrugated paper exports from the United States mostly went to Mexico and Canada, where the trade amount was USD 353 million and USD 213 million respectively.
• The United States became the 11th largest importer of corrugated paper in the world in 2021. With a 66% share of all imports in July 2022, the United States (189 thousand tonnes) was Mexico's top supplier of paper and paperboard.
• Corrugated board is increasingly being used in a variety of end-use industries, including food and beverage, consumer durables, e-commerce, and electronics, which is fueling market expansion in North America.
• The US box shipments in September 2022 reached roughly 32.7 billion ft, much less than the average of 34.5 billion ft2 for Septembers in 2021 and 2020.
• Increased demand for corrugated boxes two years ago led to the first of four price rises for linerboard. Box manufacturers appeared to be in charge of pricing for the first time in a very long time. A corporation had to accept whatever costs were offered if it required linerboard, sheets, or boxes as demand had reached a fever pitch.

Scope of the Study

Makreo research has published a detailed study on “North America Corrugated Packaging Market Analysis and Forecast (2018-2028)”. In this report we have covered a wide range of factors in our evaluation, including trade performance, major packaging materials, and recent developments in the corrugated industry.

Additionally, the focus on both qualitative and quantitative factors suggests our well-rounded approach to analysis. This provide readers with a more complete understanding of the North America Corrugated Packaging Market, including its past and present performance, as well as potential growth opportunities in the future.

Segmentation Covered:

By Region: US, Canada and Mexico

By End-Users: Food & Beverages, Personal Care, Glass Ware, Electricals & Electronics, Paper & Paper Products, Health Care & Pharmaceuticals, Others.

Company’s covered

• International Paper Company
• Packaging Corporation of America
• WestRock Company
• Matthews International Corp.
• Graphic Packaging Holding Co.
• Deluxe Packaging Inc.
• Western Container Company
• Associated Bag
• Larsen Packaging Products
• Emenac Packaging

Key Questions Answered

• How North America Corrugated Packaging market has performed in the past and what is the expected future growth prospects?
• What are the key factors driving the North America Corrugated Packaging Market?
• What is the total market revenue of North America Corrugated Packaging market?
• What is the breakup of North America Corrugated Packaging market based on end users?
• Who are the leading producers in North America Corrugated Packaging market?
• What will be the price scenario for the future?
• How North America corrugated packaging market has performed in the past?
• What is the trade scenario in the North America corrugated packaging market?