Corrugated board packaging is preferred by numerous end-use industries such as home décor & electronics, chemicals, healthcare, food & beverage, personal care, automobiles, paper, and many others. Corrugated board packaging is biodegradable in nature, hence it can be reused and recycled, which helps in decreasing the carbon footprint. Moreover, in the past decade, rapid growth of e-commerce has also tremendously increased the consumption of corrugated board packaging all over the globe which will further enhance the market growth.
According to Data Bridge Market Research the Corrugated Board Packaging Market accounted for USD 172.61 billion in 2021, and expected to reach USD 296.61 billion by 2029. The market is expected to grow with a CAGR of 6.20% in the forecast period of 2022 to 2029.
“Increasing demand of corrugated board packaging in food industries”
The demand for the convenience and processed foods is growing because of busy lifestyle of people. Hence, convenience and processed foods, which take minimum time to cook, attracts large number of consumers. The growing population also propels the demand for the processed food, which is convenient. As corrugated board packaging can withstand long shipping times and keeps moisture away from products, companies are progressively adopting this packaging to provide better customer outcomes. Corrugated board packaging is becoming a feasible option for many different food products. Corrugated board packaging can be produced more simply from recycled or composted materials. Hence, increasing demand for sustainable packaging products in processed food packaging is a major factor which is positively impacting the corrugated board packaging market growth.
What restraints the growth of Corrugated Board Packaging Market?
“Multiple issues associated with corrugated board packaging market”
Flexible plastic packaging offers large advantage for retailers and manufacturers because decrease the weight of packaging which can result in reduced warehousing and shipping costs, thereby allowing the necessity for less space. For consumers, this packaging delivers convenience such as easy-to-open, single-serve portions and easy-peel options. This can lead to the competition for corrugated board packaging market and challenge the market growth during the forecast period.
Segmentation: Corrugated Board Packaging Market
The corrugated board packaging market is segmented on the basis of raw material, style, grade and end-use.
- On the basis of raw material, the corrugated board packaging market is segmented into linerboard and medium.
- Based on style, the corrugated board packaging market is segmented into slotted box, telescopes, folders, trays, sheets, fanfold, die cut bliss and die cut interiors.
- On the basis of grade, the corrugated board packaging market is segmented into unbleached testliner, white-top testliner, unbleached kraftliner, white-top kraftliner, waste-based fluting and semi-chemical fluting.
- Based on end-use, the corrugated board packaging market is segmented into processed foods, healthcare, beverages, chemicals, textiles, personal care, electrical goods, vehicle parts, glassware and ceramics, wood and timber products, household care, fruits and vegetables, paper products, tobacco and other.
Regional Insights: Asia-Pacific is expected to dominate the Corrugated Board Packaging Market
Asia-Pacific is expected to dominate the market and is expected to grow significantly owing to the presence of highly populated nations such as India and China in this region. Furthermore, increasing spending power and growing urbanization in this region would support the development of the packaging industry and thereby increased the demand for the corrugated board packaging in this region.
In addition, the North America region is likely to register highest growth rate during the forecast period of 2022 to 2029 because of increasing awareness regarding environment and growing demand for the greener packaging solutions in this region. Moreover, rapid growth of the e-commerce sector will further increase the growth of the market in this region.
Recent Development: Corrugated Board Packaging Market
- In 2022, Mondi announced to spend EUR 280 million to surge the manufacture of corrugated cardboard and board. This investment will aid the company in increasing efficiency and expand capacity in the Czech Republic, Germany, Poland and Turkey.
- In 2022, DS Smith which is a UK-based sustainable packaging supplier launched a corrugated cardboard box for e-commerce shipments of medical devices. This new box feature is a single-material solution in place of glued packaging.
- In 2021, Mondi Group's installed a new production line for corrugated box production plant in Poland. As a result of this expansion, the portfolio of this company will increase, and the manufacturing processes will be streamlined.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/global-corrugated-board-packaging-market
The Prominent Key Players Operating in the Corrugated Board Packaging Market Include:
- DS Smith (U.K.)
- International Paper (U.S.)
- Mondi (U.K.)
- Cascades ink (Canada)
- AMERICAN BOX COMPANY (U.S.)
- U.S. Corrugated, Inc. (U.S.)
- Georgia-Pacific (U.S.)
- Koch Industries Inc. (U.S.)
- Menasha Corporation (U.S.)
- Rengo Co., Ltd (Japan)
- Green Bay Packaging ink (U.S.)
- WestRock Company (U.S.)
- Amcor plc (Switzerland)
- NIPPON PAPER INDUSTRIES CO., LTD. (Japan)
- Smurfit Kappa (Ireland)
- Sealed Air (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list Corrugated Board Packaging Market companies contact, https://www.databridgemarketresearch.com/reports/global-corrugated-board-packaging-market
Research Methodology: Global Corrugated Board Packaging Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
