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Corrugated Packaging Market Size, Share, and Analysis, By Wall Type (Single Wall, Double Wall, Triple Wall, and Single Face), By Packaging Type (Containers, Boxes, Trays, Sheets, and Others), By End Use Industry (Food and Beverages, Personal Care, Pharmaceuticals, Electronic Goods, and Others), By Region (North America, Europe, Asia-Pacific, and Rest of the World), And Regional Forecast 2024-2034
Corrugated Packaging Market is anticipated to exhibit a Compound Annual Growth Rate (CAGR) of 4.1% during the forecast span from 2024 to 2034. In 2023, the market size was assessed at USD 119.4 billion and is projected to reach USD 185.5 billion by the completion of 2034.
Corrugated packaging is made from a material known as corrugated fiberboard, which is usually produced from paper pulp. It comprises two smooth outer layers and a rippled inner layer called the corrugated medium. This structure provides durability and padding features, which makes it perfect for transporting and preserving products. Corrugated packaging is flexible and frequently used for shipping containers, retail packaging, and other purposes. In addition, its lighter weight helps in lowering shipping costs and harmful environmental footprint. Furthermore, it can be easily customized to include branding and design variations. Corrugated packaging is in line with modern eco-conscious practices due to its recyclability and sustainability. Thus, corrugated packaging is commonly used in the packaging sector and offers protection, practicality, and environmental friendliness for a variety of goods.
Corrugated packaging market is projected to reach USD 185.5 billion over the forecast period, due to the growth of online shopping, which results in high demand for corrugated packaging solutions. This adoption is noticeable due to the increasing preference for eco-friendly packaging choices, where corrugated materials stand out for their ability to be recycled and break down naturally. In addition, the growth of the food and beverage sector, along with several regulations for the safety and hygiene of packaging, helps in pushing the adoption of corrugated packaging. Moreover, innovations in printing and manufacturing technology are improving the attractiveness and customization options of corrugated packaging, thereby attracting a larger customer base from different industries. Therefore, the corrugated packaging industry is forecasted to continue its growth as a result of evolving consumer demands and the global shift towards eco-friendly packaging options.
Source: Fatpos Global
Corrugated packaging market is classified based on the Wall Type in Single Wall, Double Wall, Triple Wall, and Single Face. The single-wall segment is expected to lead the corrugated packaging market due to its affordability and usage in different industries. Single-wall corrugated packaging is made up of one layer of wavy paperboard placed between two flat linerboards. It provides sufficient toughness and protection for most objects while being lightweight, which makes it appropriate for several uses, such as shipping containers and store exhibitions. Additionally, single-wall packaging offers a cost-effective packaging solution when compared to double or triple-wall options, thus appealing to businesses that are trying to save money. Consequently, the simplicity of the design and production adds to its high adoption, as it becomes easy to print and produce single-wall packaging in bulk to fulfill various customer requirements.
Corrugated packaging market is divided based on Packaging Type into Containers, Boxes, Trays, Sheets, and Others. The box segment is anticipated to lead the corrugated packaging market owing to its flexibility and high usage across different industries. Boxes provide a handy and effective option for packing and moving a variety of products, such as electronics and food items. The customizable design of boxes allows maximum usage of space and protects goods in transit to minimize the likelihood of damage. Additionally, the packaging industry is benefiting from the growing online retail market, as corrugated boxes play a key role in delivering items to customers. Besides, these boxes are easily recyclable and ecologically friendly, thereby meeting the demand for sustainable packaging options among consumers.
Source: Fatpos Global
Expansion of E-commerce is Driving Growth in the Corrugated Packaging Market
Continuous growth of online shopping is changing how consumers behave and how supply chains operate. Customers are increasingly shifting towards online shopping as it continues to grow in popularity, thus abandoning physical retail stores. The increase in online sales means that there is a high need for durable shipping and packaging choices, such as corrugated packaging. Corrugated boxes play an essential role in packaging products and protecting them during transportation, which ultimately reduces the likelihood of damage or returns. Furthermore, the corrugated packaging market substantially benefits from the global expansion of e-commerce, as the result of technical advancements and changes in customer taste, which results in sustained demand for its goods.
Trends in Sustainable Packaging Will Act as a Catalyst for Market Growth
Businesses and consumers are increasingly focusing on environmental awareness. Consumers are becoming aware of the negative effects of traditional packaging materials on the environment, due to which they are adopting sustainable options. Corrugated packaging is leading the way in the shift to eco-friendly packaging solutions as it is made from renewable resources, biodegradable, and with sustainability objectives. Moreover, as consumers increasingly demand environmentally friendly products, firms must use sustainable packaging to match these expectations. Therefore, the increasing popularity of corrugated packaging in different sectors is a result of companies that are aiming to lower their environmental impact and improve their brand image with sustainable packaging options.
Competition from Alternative Materials in the Market Will Impact the Growth
Competition from alternative materials is a major limitation that the corrugated packaging market is facing. Corrugated packaging has several benefits like being recyclable and adaptable, but it still faces severe competition from materials like plastics and molded pulp. Businesses choose different options based on their needs for durability or cost, thus presenting a challenge to corrugated packaging. For instance, plastics provide lightness and water resistance, while molded pulp offers biodegradability and cushioning characteristics. Furthermore, the performance of alternative materials is further improving due to innovations in technology. Thus, to overcome this restriction, manufacturers of corrugated packaging must strive to innovate by creating new designs and highlighting the advantages of corrugated packaging to stay competitive among various packaging choices.
Corrugated Packaging Market is segmented based on regional analysis into five key regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. The Asia-Pacific region will likely dominate the corrugated packaging market as the demand for packaging materials has increased across China and India, as a result of urbanization in countries. In addition, the growing e-commerce industry in the area has resulted in a high need for corrugated boxes to transport goods to customers. Besides, increasing environmental awareness has forced companies to embrace sustainable packaging options, where corrugated packaging fits the bill with its ability to be recycled and biodegraded.
Simultaneously, North America is closely following the Asia Pacific region due to its well-developed economy and well-established manufacturing industries. Even though North America may not see as much growth as Asia-Pacific, it still enjoys demand for corrugated packaging due to factors like the rise of e-commerce and a preference for eco-friendly packaging among consumers.
Source: Fatpos Global
Corrugated packaging market has experienced a diverse impact due to the COVID-19 pandemic. At first, there was a sudden rise in the need for corrugated packaging as consumers were hoarding essential items and moving towards online shopping due to lockdowns and social distancing measures. This increased the demand for packaging materials to satisfy the need for online shopping and critical industries such as food and pharmaceuticals.
However, the pandemic also interrupted supply chains, which led to a shortage of raw materials and logistical difficulties. Moreover, specific industries like automotive and non-essential retail experienced low demand, thereby impacting the need for corrugated packaging in those areas.
Therefore, although COVID-19 initially increased the need for corrugated packaging, persistent uncertainties, and supply chain disruptions created several challenges that are still affecting the stability and growth prospects of the market.
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ATTRIBUTE |
DETAILS |
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Study Period |
2018-2034 |
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Base Year |
2023 |
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Forecast Period |
2024-2034 |
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Historical Period |
2019-2022 |
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Growth Rate |
CAGR of 4.1% from 2024-2034 |
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Unit |
Value (USD Billion) |
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Segmentation |
Main Segments List |
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By Wall Type |
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By Packaging Type |
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By End-Use Industry |
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By Region |
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Corrugated Packaging Market size was valued at USD 119.4 billion in 2023 and is projected to reach the value of USD 185.5 billion in 2034, exhibiting a CAGR of 4.1% during the forecast period.
The corrugated packaging market refers to the industry involved in the production, distribution, and use of packaging materials made from corrugated paperboard, commonly known as cardboard.
The Single Wall segment and Boxes segment accounted for the largest Corrugated Packaging Market share.
Key players in the Corrugated Packaging Market include International Paper Company, WestRock Company, Packaging Corporation of America, DS Smith Plc, Smurfit Kappa Group, Georgia-Pacific LLC, Mondi Group, Pratt Industries Inc., Cascades Inc., KapStone Paper and Packaging Corporation, Rengo Co. Ltd., Oji Holdings Corporation, Nine Dragons Paper (Holdings) Limited, Svenska Cellulosa Aktiebolaget (SCA), Lee & Man Paper Manufacturing Ltd., and Other Players.
Expansion of e-commerce and trends of sustainable packaging are the factors driving the corrugated packaging market.
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