New York 10013, United States of America – March 23, 2022 —
Corrugated Packaging Market Overview
The Corrugated Packaging Market’s growth estimates at a compound rate of 5% CGAR, and it may reach USD 415.73 billion by the forecast period 2022-2030.
Undoubtedly, the Corrugated Packaging Market has grown significantly over the years. The market is driving to new heights because of increasing food & beverage and the use of the e-commerce industry across the globe.
Corrugated Packaging Market consists of a folding box, slotted box, telescope box, etc. The packaging protects rich content from any damage. Also, the packs are such lightweights that the shipping costs turn very cost-effective for the manufacturers. Moreover, the paper industry’s packaging processes from waste products lead to an environment-friendly option.
Additionally, the e-commerce industry is also playing a vital role in the global corrugated packaging market. With time the use of online shopping portals is increasing every day via the internet. Following the lightweight, strength, and easy recyclability, e-commerce companies are heading towards corrugated products, resulting in secure deliveries. The packaging boxes are versatile and can shape in various forms. The packages provide a strong base for printing methods, which saves the companies from investing in marketing strategies. Although, it’s a perfect marketing tool.
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On the other hand, some factors negatively affect the expansion of corrugated products, like- harsh weather conditions. Products packed in corrugated cartons do not withstand extreme weather. Thus, it hinders market growth.
Moreover, the CoViD-19 outbreak has severely hit the retail sector, resulting in declined growth of corrugated packaging. Following the financial and economic crisis, the general public avoided additional expenses, which led to a decrease in demand and sales. The global restrictions disrupted the supply chain of packaging products. However, the lift in lockdown has once again increased mobile shopping usage, which can turn a positive impact on the market shortly.
Key Players
The major market players in the market are
- Mondi Group Plc (South Africa)
- International Paper Company (U.S.)
- West Rock Company (U.S.)
- DS Smith Plc (U.K.)
- Rengo Co. Ltd. (Japan)
- Cascades Inc. (Canada)
- Packaging Corporation of America (U.S.)
- Georgia-Pacific LLC (U.S.)
- Smurfit Kappa Group (Ireland)
Corrugated Packaging Market Segmentation
The market segmentation of corrugated packaging classifies in type, wall construction, Material, and application. The variety consists of self-erecting boxes, rigid boxes, telescope boxes, folder boxesand slotted boxes. The other side the wall construction consists of three walls i.e., single, double and triple-wall—material segments in Medium,Linerboardetc. Last, the application comprises food items, electronic products, personal care, chemicals, pharmaceuticals, and textile goods. All these factors combine to contribute to manufacturing and sales productivity at large.
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Regional Classification
The regional classification of corrugated packaging divides Europe, Asia-Pacific, North America, and the rest corners. Out of all these areas, Asia-Pacific holds the highest 35% share and expects to grow faster during the forecasting period. The main reason for the rapidly increasing factor is the increasing healthcare and food industries in developed countries like India, China, Malaysia, and Indonesia. Although, the eco-friendly and low shipping methods are pushing the economies to show a positive change in the market size, share, and structure.
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Recent Development
- Most competitors in this industry used mergers and acquisitions, partnerships, contracts, and joint ventures as their primary tactics. The top corrugated box manufacturers are concentrating their efforts on developing countries that are expected to display industrial development potential in the coming years especially during the forecast period ending in 2030.
- Mondi Group teamed up with Cartro, a Mexican corrugated packaging manufacturer, to provide environmentally friendly packaging for fresh food. Mondi’s paper grades, including ProVantage Kraft liner Aqua, satisfy these specifications, and the two firms have collaborated to create an entirely new corrugated box to meet the needs.
- Klabin S.A. has agreed to buy International Paper’s Brazilian corrugated packaging business for 330 million Brazilian Real, with 280 million paid at signing and 50 million paid a year later. The business includes three containerboard mills and four box factories.
Table of Content
1 Executive Summary
1 Executive Summary
2 Introduction
2.1 Scope Of The Study 14
2.2 Assumptions 14
2.3 Market Structure 14
3 Research Methodology
3.1 Research Process 16
3.2 Primary Research 17
3.3 Secondary Research 17
3.4 Market Size Estimation 17
3.5 Forecast Model 19
4 Market Dynamics
4.1 Introduction 20
4.2 Drivers 21
4.2.1 Growing Trend Of The Online Shopping 21
4.2.2 Rapid Growth In Electronic Sector 21
4.2.3 Growing Demand For Product Safety 22
4.3 Restraints 23
4.3.1 Government Regulation For Corrugated Packaging 23
4.3.2 Adverse Effects On The Environment 23
4.4 Opportunities 24
4.4.1 Increase In Disposable Income Of Developing Countries 24
5 Market Factor Analysis
5.1.1 Threat Of New Entrants 25
5.1.2 Bargaining Power Of Suppliers 26
5.1.3 Bargaining Power Of Buyers 26
5.1.4 Threat Of Substitutes 26
5.1.5 Rivalry 26
5.2 Value Chain Analysis 27
5.2.1 Raw Material Supply 27
5.2.2 Manufacture 27
5.2.3 Distribution 28
5.2.4 Application 28
6 Global Corrugated Packaging Market, By Type
6.1 Overview 30
6.1.1 Bliss / Rigid Boxes 32
6.1.2 Self-Erecting Boxes 32
6.1.3 Telescope Boxes 32
6.1.4 Slotted Boxes 32
6.1.5 Others 32
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