Overview
The global corrugated packaging market is projected to grow at a CAGR of 5.9% during the forecast period. As per the corrugated packaging market research report, the global market for corrugated packaging is projected to grow swiftly by US$250.9 billion by 2025. According to analysts, the expansion of the e-commerce sector as well as the rising preference for sustainable packaging will drive the market growth during the forecast period. The corrugated packaging market research report offers a comprehensive analysis of the global corrugated packaging market and its application, material, type, and wall construction segments. The increasing regulations along with a ban on corrugated boxes in certain regions are the elements that could influence the corrugated packaging market advancement throughout the forecast period. The corrugated packaging market research report by expert analysts is developed to assist organizations in the corrugated packaging market.
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Market Segmentation
The global market for corrugated packaging has been segmented on the basis of type, wall construction, material, and application.
By type, the global corrugated packaging market has been segmented into rigid boxes, self-erecting boxes, telescope boxes, slotted boxes, and others. The rigid boxes segment held the largest market share in 2018, which will continue its dominance over the forecast period. This is linked to the widespread demand for these boxes across the verticals like food & beverage, pharmaceutical, and personal care industries. The telescope boxes segment has been further divided into full telescope design containers and half telescope design container. The slotted boxes segment has been further divided into regular slotted containers (RSC), half slotted containers (HSC), and full overlap slotted boxes (FOL).
By wall construction, the global corrugated packaging market has been segmented into single-wall, double-wall, and triple-wall. The single-wall segment held the largest market share in 2018, which is expected to witness maximum CAGR during the forecast period. These sheets are cost-effective and, therefore, are extensively used as shipping cases from online merchants. They give rigidity and shock absorption for protecting the contents stored inside.
By material, the global corrugated packaging market has been segmented into linerboard, medium, and others. The linerboard segment held the largest market share of around 32% in the overall corrugated packaging market, which is also estimated to register a high growth rate during the assessment period. These materials are composed of natural unbleached wood fibers.
By application, the global corrugated packaging market has been segmented into food & beverages, electronic goods, pharmaceuticals, personal care, and others. In 2018, the food & beverage segment captured the largest market share and was predicted to register a high growth rate in the global market. The increased demand for processed food products is increasing the adoption of corrugated boxes. In the food & beverage sector, corrugated boxes are used for products like liquid bottles, fruits & vegetables, ready-to-eat food, and confectionery products. Online retailing of food & beverages is also pushing corrugated boxes, mainly in emerging economies, such as China and India.
Regional Overview
North America, Europe, Asia Pacific and the rest of the world regional market for corrugated packaging are predominantly covered in the global corrugated packaging market research report. Country-level corrugated packaging markets spread across North America – the United States, Canada, and Mexico are also covered in the report. In South America – Brazil and other country-level corrugated packaging markets are covered in the report. In Asia-Pacific (APAC) region, the country-level corrugated packaging markets covered are Japan, India, China, and others. The corrugated packaging market research report also explores the regional market for corrugated packaging present in Europe in the United Kingdom, France, Italy, Spain, and Germany, etc. The corrugated packaging market research report also covers regional markets from the rest of the world alongside corrugated packaging markets of Africa and the Middle East.
Key Players
The industry giants in the global corrugated packaging market are Mondi Group, Smurfit Kappa Group, Georgia-Pacific LLC, International Paper, Orora Packaging Australia Pty Ltd, DS Smith, Archis Packaging (India) Pvt. Ltd, Europac Group, WestRock, and Packaging Corporation of America.
Industry News
On 27 June 2019, Smurfit Kappa Group, one of the leading manufacturers of corrugated packaging products, developed innovative e-commerce packaging for Latin American online egg vendors through eSmart. This service guarantees a minimum to no damaging of the eggs in order to scale its business across Latin America and help emerging companies drive business growth through innovative packaging.
In August 2020, Valmet announced that the company would supply Valmet IQ quality management system to PJSC Kyiv Cardboard and Paper Mill. The facility is in Kiev, Ukraine. This system will get installed in the corrugated packaging plant, where the chief focus is on modernizing the infrastructure. This investment has a specific focus on improving the quality of the corrugated board and while doing so, it will also increase productivity and profitability. The Valmet IQ quality management system is getting acknowledgment from several quarters for its effective use in Corrugator plants.
The global market for corrugated packaging got impacted by the COVID-19 as several chains of supplies got disrupted by stringent measures implemented by governments as countering tactics to prevent the disease from spreading. However, the recent relaxation of the laws can bring the market back on track in coming years.
SP Soluciones Agricolas, a Huelva-based firm, and Indesla, its affiliate, have joined together to resolve one of the key problems of berries' carton packaging. The solution incorporates a 100 percent biodegradable carton or paper support with an R-PET lid, plastic that has already been recycled and can be recycled. Solid Pack, SP Soluciones Agricolas cardboard and paper packaging division creates the support, while Indesla produces the R-PET lid.
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Read more related insights:
https://www.globenewswire.com/en/news-release/2021/05/20/2233023/0/en/Corrugated-Packaging-Market-to-reach-USD-348-9-billion-by-2027-Market-Research-Future-MRFR.html
https://www.yumpu.com/en/document/view/59963341/corrugated-packaging-market-research-report-forecast-to-2023
https://www.easyfie.com/read-blog/186258_corrugated-packaging-market-global-trends-key-vendors-drivers-profits-amp-analys.html
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https://sites.google.com/view/corrugatedpackagingindustry/home?authuser=1
http://wantstats.com/press-release/corrugated-packaging-industry
https://www.webpackaging.com/en/portals/marketresearchfuture/assets/12061407/global-corrugated-packaging-market-2018-industry-key-players-share-trends-applications-opportunity-assessment-and-forecast-to-2023/
https://issuu.com/rishikeshkurane/docs/global_corrugated_packaging_market
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