Corrugated board packaging preserves, protects and transports goods effectively. It offers biodegradability, lightweight construction, and recyclability. Comprising over 80% recycled material and sustainably sourced fibers, it caters to various industries, including food, medicine, and equipment. Through folding, cutting, and shaping heavy-duty paper sheets, it forms food packaging boxes, cardboard boxes, juice boxes, milk cartons, and more. The market embraces these eco-friendly packaging solutions to meet consumer demands for sustainable and reliable transportation.
According to Data Bridge Market Research the Corrugated Board Packaging Market accounted for USD 134.7 billion in 2022, will reach USD 217.96 billion by 2030, growing at a CAGR of 6.2% during the forecast period of 2023 to 2030.
“Consumer demand for eco-friendly packaging drives market growth”
Increasing consumer awareness, particularly among millennials, about the environmental impact of food production, packaging, and waste, is driving the demand for corrugated boxes made from recycled materials or compostable waste. A survey revealed that 59% of millennials consider environmentally friendly packaging essential throughout the entire value chain. This consumer demand for sustainable packaging is fueling the growth of the corrugated board packaging market, especially for processed foods.
What restraints the growth of the corrugated board packaging market?
“Raw material costs and substitutes restrain market growth”
The market growth of corrugated packaging is hindered by the presence of inexpensive alternatives such as stretch and shrink wrap, reusable plastic packaging, and intermediate bulk packaging containers. These alternatives offer better aesthetics, cost-effectiveness, and durability, thereby limiting the demand for corrugated packaging. Additionally, increasing raw material costs further restrict the demand for corrugated packaging products.
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.
- On the basis of 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 test liner, white-top test liner, unbleached kraft liner, white-top kraft liner, waste-based fluting, and semi-chemical fluting.
- On the basis of 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 dominates the corrugated board packaging market
The Asia-Pacific region dominates the corrugated box packaging market. This can be attributed to several factors such as the availability of easy processing techniques, improved efficiencies, and the widespread usage of corrugated box packaging in various industries, particularly in China. The growing demand for processed foods and beverages further contributes to the region's strong presence in the market.
- On the other hand, North America is anticipated to exhibit the highest growth rate during the forecast period. This growth can be attributed to factors such as the increasing demand for fresh food and beverages, home and personal care products, and the rapid expansion of the e-commerce industry. The United States plays a significant role in driving the growth of the corrugated packaging market in North America. The growing awareness among consumers regarding the use of environmentally friendly products has further propelled the demand for corrugated packaging in the region.
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Recent Developments in Corrugated Board Packaging Market
- In 2022, Westrock Co., a U.S.-based manufacturer of containerboard and packaging, completed the acquisition of the remaining interest in GRUPO Gondi for USD 970 million, in addition to assuming the company's debt. GRUPO Gondi, with its nine corrugated packaging plants, four paper mills, and six high-graphic plants across Mexico, further bolstered Westrock's presence in the growing Latin American markets.
- In 2022, Menasha Packaging Company, L.L.C., a subsidiary of Menasha Corporation, signed a contract to acquire the assets of Color-Box, a business unit of Georgia-Pacific, L.L.C. The acquisition is expected to be finalized in early summer 2022. Color-Box, like Menasha Packaging, specializes in the production of high-graphic corrugated packaging. This partnership will expand the geographical reach of the business and provide clients with enhanced options for graphic design and structural packaging.
The Prominent Key Players Operating in the Corrugated Board Packaging Market Include:
- International Paper (U.S.)
- Mondi (U.K.)
- Smurfit Kappa (Ireland)
- Cascades Inc. (Canada)
- WestRock Company (U.S.)
- Oji Holdings Corporation (U.S.)
- Packaging Corporation of America (U.S.)
- Sealed Air (U.S.)
- Rengo Co., Ltd. (Japan)
- DS Smith (U.K.)
- NIPPON PAPER INDUSTRIES CO., LTD. (Japan)
- Georgia-Pacific (U.S.)
- Neway Packaging (U.S.)
- Arabian Packaging Co L.L.C. (U.A.E)
- Wertheimer Box Corp. (U.S.)
- Klabin S.A. (Brazil)
- Klingele Paper and Packaging S.E. and Co. K.G. (Germany)
- B Smith Packaging Ltd (U.K.)
Above are the key players covered in the report, to know about more and exhaustive list of corrugated board packaging market companies contact, https://www.databridgemarketresearch.com/contact
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.
