The global corrugated packaging market size was valued at USD 184.9 billion in 2021 and is expected to surpass USD 258.3 billion by 2028, registering a CAGR of 6.40% during the forecast period (2022- 2028), as highlighted in a report published by Facts & Factors. The key market players are listed in the report with their sales, revenues and strategies are Wisconsin Packaging Corporation, Arabian Packaging Co LLC, Klabin S.A., GWP Group Limited, DS Smith Packaging Limited, Menasha Corporation, TGI Packaging Pvt. Ltd., Georgia-Pacific LLC, Rengo Co., Ltd., Pratt Industries Inc., Smurfit Kappa Group PLC, Westrock Company, and Others.
NEW YORK, United States, Jan. 20, 2023 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Corrugated Packaging Market Size, Share Report By Product Type (Single Wall Boards, Single Face Boards, Double Wall Boards, Triple Wall Boards), By Packaging Type (Boxes, Crates, Trays, Octabin, Pallet, Others), By End-Use (Food & Beverage, Electrical & Electronics, Home Care Products, Personal Care Products, E-commerce, Transportation & Logistics, Healthcare, Others), and By Region - Global Industry Insights, Growth, Size, Share, Comparative Analysis, Trends and Forecast 2022 – 2028” in its research database.
The report analyzes the corrugated packaging market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the global corrugated packaging market.
Corrugated Packaging Market Overview:
Corrugated boxes are one of the most widely used secondary packaging solutions in a variety of industries. Because packaging cartons are both practical and convenient, they have become a popular choice for the packaging of a wide range of products in industries such as food, beverages, cosmetics, pharmaceuticals, and chemicals. In recent years, the e-commerce industry has experienced rapid growth.
The growing purchasing power of consumers, as well as the increased use of mobile shopping, has fuelled online shopping. Corrugated crates and cardboard packaging are available in a wide range of sizes, allowing for the packaging of small items such as pharmaceuticals or personal care products to large items such as electronics or furniture.
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Key Insights from Primary Research
- As per the analysis, the corrugated packaging market is likely to grow above a CAGR of around 6.40% between 2022 and 2028.
- The Corrugated Packaging market size was worth around US$ 184.9 billion in 2021 and is estimated to hit approximately US$ 258.3 billion by 2028. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- The single-wall board style had the highest revenue share in this market.
- While the food and beverage industry are likely to be the greatest consumer of corrugated packaging over the forecast period.
- On the basis of region, the Asia Pacific dominated the market with the largest revenue share. Rapid urbanization in densely populated countries like China, India, and Indonesia are driving packaging demand.
Industry Growth Drivers
The growing trend of purchasing products through e-commerce platforms, as well as the increasing number of players entering the e-commerce industry, are expected to drive sales in the corrugated boxes market.
Increased sales of kraft boxes, driven by increased demand for environmentally friendly packaging solutions, are expected to provide growth opportunities in the coming years. In addition, some of the market's leading players are expected to offer custom corrugated boxes, such as paper packaging solutions, to replace plastic packaging alternatives. The shift in consumer preference toward paper packaging is expected to increase demand for corrugated boxes in the near future.
The global personal care and cosmetics industry has expanded significantly in recent years. The rising consciousness of consumers regarding appearance is a major driver of growth. One of the factors positively influencing personal grooming is the growing importance of hair and skin care among the millennial population.
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Corrugated Packaging Market: COVID-19 Impact Analysis
The COVID-19 pandemic has had a significant impact on the aluminum industry worldwide, and it is difficult to predict the extent and severity of the long-term impact. The coronavirus outbreak forced the closure of approximately 198,000 active dental hospitals and clinics in the United States. The packaging industry suffered as a result of the recession that followed the pandemic outbreak.
The unexpected drop and uncertainty in raw material prices before and after the COVID-19 pandemic has been a worldwide source of concern for packaging solution manufacturers. However, since the pandemic, there has been a significant increase in e-commerce. E-commerce retail sales are seeing a significant increase in volume.
The report contains qualitative and quantitative research on the global Corrugated Packaging Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness.
The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts.
Some of the main players in the global Corrugated Packaging market include;
- DS Smith Packaging Limited
- Menasha Corporation
- Wisconsin Packaging Corporation
- Arabian Packaging Co LLC
- Klabin S.A.
- GWP Group Limited
- TGI Packaging Pvt. Ltd.
- Georgia-Pacific LLC
- Smurfit Kappa Group PLC
- Westrock Company
- Rengo Co., Ltd.
- Pratt Industries Inc.
Browse the full “Corrugated Packaging Market By Product Type (Single Wall Boards, Single Face Boards, Double Wall Boards, Triple Wall Boards), By Packaging Type (Boxes, Crates, Trays, Octabin, Pallet, Others), By End-Use (Food & Beverage, Electrical & Electronics, Home Care Products, Personal Care Products, E-commerce, Transportation & Logistics, Healthcare, Others), and By Region - Global Industry Insights, Growth, Size, Share, Comparative Analysis, Trends and Forecast 2022 – 2028” Report at https://www.fnfresearch.com/corrugated-packaging-market
Corrugated Packaging Market: Segment Insights
The global Corrugated Packaging market is segregated based on product type, packaging type, and end-use.
While the food and beverage sector is expected to be the largest consumer of corrugated packaging throughout the forecast period, E-commerce has been identified as the most opportunistic application area for corrugated packaging stakeholders. The electrical and electronics end-use segment is expected to grow significantly during the forecast period, owing to increased shipments of consumer electronics products such as tablets, smartphones, laptop computers, and flat-screen televisions.
The segment with the highest revenue share was the single-wall board style. It can be used as an extra layer of protection, as a divider, pad, or partition inside the outer packaging. These types of board styles allow for easy printing, as well as the application of various coatings to their surface. It lightens the weight of the boxes, lowering shipping costs. As a result, the segment is expected to grow at the fastest rate during the forecast period. Single-face boards are also used as an inner packaging material in order to keep individual items separate in outer packaging and to provide additional protection to the packaged goods.
With the biggest revenue share, Asia Pacific dominated the market. Demand for packaging items is driven by rapid urbanization in densely populated nations like China, India, and Indonesia. Growing environmental consciousness is likely to lead to higher demand for greener packaging solutions, propelling the market forward. Government moves in numerous Asian countries to ban plastic packaging are also predicted to boost product demand.
In terms of revenue, it is also expected to be the fastest-growing regional market. A surge in domestic and international demand for electronic goods, automotive components, homecare, and beauty & personal care products is predicted to boost demand for corrugated boxes, resulting in market expansion.
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Key questions answered in this report:
- What will be the value of the global corrugated packaging market during 2022-2028?
- Which key factors will influence global corrugated packaging market growth over 2022-2028?
- Which are the major players leveraging the global corrugated packaging market growth?
- Which region will contribute notably towards the global corrugated packaging market value?
- How can I receive a free copy of the corrugated packaging Market sample report and company profiles?
|Market Size in 2021||USD 184.9 billion|
|Projected Market Size in 2028||USD 258.3 billion|
|CAGR Growth Rate||6.40% CAGR|
|Key Market Players||DS Smith Packaging Limited, Menasha Corporation, Wisconsin Packaging Corporation, Arabian Packaging Co LLC, Klabin S.A., GWP Group Limited, TGI Packaging Pvt. Ltd., Georgia-Pacific LLC, Smurfit Kappa Group PLC, Westrock Company, Rengo Co., Ltd., Pratt Industries Inc., and Others|
|Key Segment||By Product Type, Packaging Type, End-Use, and Region|
|Major Regions Covered||North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa|
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The global corrugated packaging market is segmented as follows:
By Product Type Segment Analysis
- Single Wall Boards
- Single Face Boards
- Double Wall Boards
- Triple Wall Boards
By Packaging Type Segment Analysis
By End-Use Segment Analysis
- Food & Beverage
- Electrical & Electronics
- Home Care Products
- Personal Care Products
- Transportation & Logistics
By Region Segment Analysis
- North America
- Asia Pacific
- The Middle East & Africa
- Latin America
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- Market Size, Trends, & Forecast by Revenue | 2022?2028
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis by Product Type, Packaging Type, End-Use, and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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