A recent report published by Infinium Global Research on corrugated packaging market provides in-depth analysis of segments and sub-segments in the global as well as regional corrugated packaging market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional corrugated packaging market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global corrugated packaging market.
Corrugated packaging refers to a type of material used for packaging that consists of three layers of paper - an inner layer, an outer layer, and a fluted or corrugated layer sandwiched between them. This fluted layer, often referred to as the "corrugated medium," provides structural rigidity and strength to the packaging. The outer layers, known as liners, add durability and protection. The combination of these layers results in a lightweight yet robust packaging material suitable for various industries. Corrugated packaging is highly versatile and customizable, making it an ideal choice for transporting and protecting a wide range of products. Its popularity is attributed to its cost-effectiveness, recyclability, and eco-friendly characteristics. Corrugated boxes are widely used in shipping, storage, and retail packaging, offering a balance between strength, flexibility, and environmental sustainability in the packaging industry.
The rise in global population coupled with rapid urbanization leads to a rise in the demand for processed foods and beverages, which in turn drives the food and beverage industry. Owing to the rise in the demand for processed and fresh food and beverages, manufacturers are highly opting for convenient, cost-effective, and sustainable packaging solutions. Corrugated boxes offer excellent protection for fragile food and beverage items during transportation and storage, minimizing damage and spoilage. Moreover, compared to some other packaging materials, corrugated boxes are relatively inexpensive, making them an attractive choice for manufacturers. Therefore, increasing demand for the food and beverage sector drives the demand for the corrugated packaging market. Furthermore, the exponential growth of the e-commerce sector propels a substantial demand for the corrugated packaging market. As online shopping becomes increasingly prevalent, the need for robust and protective packaging solutions rises to ensure the safe delivery of products to consumers. For instance, as per UNCTAD estimates, during COVID-19 movement restrictions, the surge in e-commerce significantly elevated online retail sales' proportion of total retail sales from 16% to 19% in 2020. Corrugated packaging emerges as a preferred choice due to its durability, versatility, and cost-effectiveness. These qualities make it ideal for safeguarding a diverse range of goods during the transit process. The surge in e-commerce activities not only boosts the consumption of corrugated materials but also underscores their pivotal role in meeting the evolving packaging requirements of the digital retail landscape, thereby driving market expansion. However, the fluctuation in raw material prices poses a substantial impediment to the growth of the corrugated packaging market. As the costs of key materials, such as paper and cardboard, experience unpredictable variations, it creates challenges for manufacturers in maintaining stable production costs. The corrugated packaging industry heavily relies on these materials, and price volatility can lead to increased operational expenses, impacting profit margins. This instability makes long-term planning and pricing strategies difficult, hindering the market's overall expansion. Although, the increasing demand for eco-friendly packaging solutions presents a significant growth opportunity for the corrugated packaging market. As environmental consciousness rises, businesses and consumers alike seek sustainable alternatives. Corrugated packaging, made from recyclable materials and known for its eco-friendly attributes, aligns with this trend. Its biodegradability and recyclability make it a preferred choice in the wake of plastic reduction initiatives. As industries pivot towards environmentally responsible practices, the corrugated packaging market stands poised to capitalize on this opportunity, offering a sustainable solution that addresses both consumer preferences and ecological concerns, fostering growth and market expansion.
Europe commands a substantial share of the corrugated packaging market due to its advanced and mature packaging industry. The region's dominance is driven by the widespread adoption of corrugated solutions across various sectors, including food and beverage, electronics, and e-commerce. Strict environmental regulations in Europe also contribute to the preference for recyclable and sustainable packaging, aligning with the eco-friendly nature of corrugated materials. The well-established infrastructure and emphasis on efficient logistics further solidify Europe's prominent position in the corrugated packaging market. Asia Pacific stands as the fastest-growing region in the corrugated packaging market, propelled by robust industrialization, increasing urbanization, and a burgeoning e-commerce sector. The region's expanding middle class, coupled with changing consumer preferences, has elevated the demand for packaged goods. As businesses prioritize efficient and sustainable packaging solutions, the versatility and cost-effectiveness of corrugated packaging make it a preferred choice.
|Market Size in 2022
|USD 135.60 Billion
|Market Size by 2030
|USD 246.48 Billion
|Growth Rate from 2023 to 2030
|CAGR of 6.71%
|No. of Pages
|By Type, By Board Type, By Component, and By Application
|North America, Europe, Asia Pacific, and RoW
The report on global corrugated packaging market covers segments such as type, board type, component, and application. On the basis of type, the sub-markets include rigid boxes, telescope boxes, slotted boxes, and others. On the basis of board type, the sub-markets include single wall, double wall, triple wall, and single-phase. On the basis of component, the sub-markets include linerboard, and medium. On the basis of application, the sub-markets include food and beverages, electronic goods, pharmaceuticals, personal care, and others.
The report provides profiles of the companies in the market such as Alpha Packaging, Inc., International Paper, Mondi, DS Smith, WestRock Company, Smurfit Kappa Group, Rengo Co., Ltd., Packaging Corporation of America, Deluxe Packaging, and Larsen Packaging.
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the corrugated packaging market. Moreover, the study highlights current market trends and provides forecasts from 2023-2030. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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