The globalCorrugated Packaging Marketis forecast to reach USD 352.47 Billion by 2027, according to a new report by Reports and Data. Corrugated boxes are thick paper material consisting of a compressed layer of paper pulp. It is extensively used for packaging as its easy-to-open and reseal packaging designs provide benefits to the end-users. Besides, it is environmentally friendly and can be recycled. Retailers and product manufacturers also enjoy great benefits from corrugated packaging.
These boxes are used to store and transport products. The most important properties of paperboard, the driving force of the market, are its recyclability, its reusability, and its durability. Also, the growing awareness of ecological conservation makes consumers inclined to use paperboard. Besides, high-resolution graphics and two-sided printing of paperboard can enhance the brand promotion of products. Therefore, various product manufacturers choose it as packaging material.
Rapid urbanization has changed the lifestyle of the people and, in turn, has increased the prevalence of packaging over a broad aspect, thus, augmenting the demand for the market product. The growing awareness among customers for the sustainable packaging material with the reusability of corrugated packaging is fostering the market demand. However, the usage plastics due to its cost-effective, durable, and reusable properties are hampering the market demand.
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Key participants include Mondi Group, WestRock Company, International Paper Company, DS Smith PLC, Smurfit Kappa Group, Nine Dragons Paper (Holdings) Limited, Georgia-Pacific Equity Holdings LLC, Oji Holdings Corporation, Lee Man Paper Manufacturing Ltd., and Packaging Corporation of America, among others.
Further key findings from the report suggest
- Rigid boxes have two similar end panels and consists of a body that can be folded from the two side panels, a top, and an unbroken bottom. The flaps are applicable to form the joints. Once these joints are sealed, the box is considered to be rigid. The segment is forecasted to grow with a CAGR of 4.0% during the forecast period.
- Single-walled boxes are designed to use only a single layer of fluting. They are used for shipping in the e-commerce sector. These boxes are cost-effective and can provide offer cushioned protection as well as rigidity that is required in a shipping container.
- The food and beverage segment is estimated to capture a massive share of the market because of the flourishing of the take-out food consumption and changing lifestyle patterns of individuals. The segment held a market share of 4.7% in the year 2019.
- The advent of the use of corrugated packaging backed by various government awareness schemes in nations such as India is creating a demand for the use of these boxes in the packaging market. The Asia Pacific region is forecasted to grow with the highest growth rate in the forecast period due to the rise in the number of people opting for the manufacturing of paperboards.
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For the purpose of this report, Reports and Data have segmented the global Corrugated Packaging Market on the basis of Type, Wall Construction, Application, and region:
Type Outlook (Revenue, USD Billion; 2017-2027)
- Self-Erecting Boxes
- Rigid Boxes
- Slotted Boxes
- Telescope Boxes
Wall Construction Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
- Food Beverage
- Electronic Goods
- Personal Care
Over the years, mergers and acquisitions, collaborations, and partnerships have played a pivotal role in companies plans of expanding customer base and gaining a robust footing in the market. Rising investments by the key industry players for the RD activities will further bolster market growth over the analysis period.
The report also utilizes key statistical tools such as SWOT analysis, Porters Five Forces analysis, feasibility analysis, and venture return analysis to offer better insights into the market landscape. The report also covers recent developments and trends and provides a comprehensive industry overview to help readers understand the complete scenario and dynamics of the Corrugated Packaging market.
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Regions covered by the report:
- North America (U.S.A., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of Europe)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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