Corrugated packaging is critically important for custom-manufactured shipping containers, packaging, and point-of-purchase displays. The rapid industrialization and economic growth worldwide, alongside the vast advances in packaging technologies, drive the corrugated packaging market. Additionally, rising innovative applications, ranging from pallets to children's toys to furniture, increase the corrugated packaging market size.
Growing applications across burgeoning industries, especially food & beverages, personal care, pharmaceuticals & healthcare, and electronic goods, contribute to the corrugated packaging market share. The corrugated packaging market share is projected to escalate further during the forecast period. According to Market Research Future (MRFR) asserts that the global corrugated packaging market is expected to reach ~USD 348.9 billion by 2027 and is expected to witness ~5.9% CAGR during the forecast period. The base year considered for the study of the market is 2019, and the forecast period for the global corrugated packaging market is 2020 to 2027.
Corrugated boxes are primarily used for products such as fruits & vegetables, liquid bottles, ready-to-eat food, and confectionery products. Besides, online retailing of food & beverages leads to the increased adoption of corrugated boxes. The food & beverage segment is assessed to register a high growth rate during the review period.
Get Free Sample PDF Brochure:
COVID-19 has impacted the global corrugated packaging market severely. The pandemic caused huge revenue losses to end-use industries like healthcare and eCommerce. Also, the coronavirus-driven lockdown disrupted the production of several key raw materials in the global market, which in turn spiked the prices and lowered the demand for corrugated packaging.
The strict lockdown imposed by the governments to control the virus spread restricted cross-border trade between countries, proving to be detrimental for the corrugated packaging market demand. However, the market is regaining its momentum and rapidly getting back to normal with relaxing lockdown mandates in many countries.
The demand for packaging of medical supplies and healthcare products to address SARS-CoV-2 is steadily increasing, which can be favorable for the market in the years ahead. Also, it is expected that the corrugated packaging demand in end-use sectors could pick up following the uplift of the lockdown.
Government initiatives aimed at promoting eco-friendly packaging materials and initiatives from the CPA (The Corrugated Packaging Alliance), with the mission to promote corrugated packaging, support market growth. Scientific research has proven that corrugated packaging significantly reduces the microbiological contamination risk, prolonging shelf life by up to three days.
Growing applications across burgeoning industries, especially food & beverages, personal care, pharmaceuticals & healthcare, and electronic goods, contribute to the corrugated packaging market share. Additive manufacturing allows the transformation from the supply chain to production, parts manufactured by subtractive methods to higher performance, innovative designs that enable agile supply chains to adopt Industry 4.0/5.0 principles.
Browse In-depth Market Research Report (110 pages) on Corrugated Packaging
The corrugated packaging market research report is segmented on the basis of type, wall construction, material, application, and region. The type segment is sub-segmented into self-erecting boxes, rigid boxes, telescope boxes, slotted boxes, and others. Among these, the rigid boxes segment accounts for the largest market share, witnessing the widespread demand across industry verticals such as food & beverage, pharmaceutical, and personal care.
The telescope boxes segment is further classified as full telescope design container and half telescope design container. Similarly, the slotted boxes segment is further classified as full overlap slotted boxes (FOL), half slotted containers (HSC), and regular slotted containers (RSC).
The wall construction segment is sub-segmented into single-wall, double-wall, and triple-wall. Among these, the single-wall segment accounts for the largest market share due to the cost-effectiveness and rigidity & shock absorption qualities of these sheets that increase their uses in shipping cases from online merchants. The segment would continue with its dominance during the forecast period.
The material segment is further bifurcated into linerboard, medium, and others. Among these, the linerboard segment accounts for the largest as in 32% market share, mainly due to the environment-friendly nature of these boards. The segment would continue with its dominance during the review period.
The application segment is further bifurcated into food & beverages, electronic goods, pharmaceuticals, personal care, and others. The food & beverage segment acquires the largest market share due to the increased demand for processed food products. The region segment is sub-segmented into Europe, Americas, Asia Pacific, and rest-of-the-world.
Asia Pacific is likely to remain a highly attractive market for corrugated packaging during the review period. The region accounts for the largest market share, witnessing the rising demand from the booming food & beverage and pharmaceutical industries. There is a tremendous opportunity for corrugated packaging in this region.
Malaysia, China, Indonesia, and India are the major contributors to the corrugated packaging growth market in the region. The strong presence of key manufacturers in the region leads to the faster development of corrugated packaging technologies. Additionally, state-backed initiatives and investments to increase corrugated packaging use increase the regional market share.
North America holds the second-largest share in the global corrugated packaging market. Factors such as the rising eCommerce venture and shifting trends towards online shopping increase the corrugated packaging market share of the region. The US is the key revenue generator in the regional market, becoming the most attractive market space for the manufacturers.
The market appears competitive and fragmented due to the presence of several big and small market players, adopting strategic expansion of business in emerging markets. In order to survive and create new markets, manufacturers rely on innovation. Therefore, they keep themselves updated with new technological developments and the latest consumer trends by developing human capital.
For instance, on Jan.05, 2021, Paper and packaging group Mondi announced its plan to acquire a Turkish packaging firm Olmuksan to expand its presence in Turkey. Mondi has agreed to buy a 90.38% stake in Olmuksan International Paper. The deal is subjected to conditions, including approval from competition authorities. The company recently resumed dividend payments to shareholders, citing its resilience amid the Covid-19 pandemic.
Key players active in the market are Smurfit Kappa Group, Mondi Group, International Paper, DS Smith, Orora Packaging Australia Pty Ltd, WestRock, Archis Packaging (India) Pvt. Ltd, Georgia-Pacific LLC, Packaging Corporation of America, and Europac Group.
Discover More Research Reports on Packaging & Transport Industry, By Market Research Future
Browse Related Reports:
Global Truck Mounted Crane Market Research Report: Information By Type (Mounted Cranes, Sidelift Cranes, Boom Truck Cranes and Others), Application (Construction, Utilities, Industries and Others) and Region - Forecast till 2026
Global Insulated Shipping Packaging Market Research Report: by Product (Boxes and Containers), Application (Food & Beverages, Industrial Goods, Personal Care and Others), Material (Plastic, Wood, Glass and Others) and Region (North America, Europe, Asia-Pacific and Rest of the World) - Forecast till 2026
Hazardous Goods Logistics Market Research Report: by Service (Transportation, Warehousing and Distribution and Value-added Services), by Destination (Domestic and International) and Region (North America, Europe, Asia-Pacific and Rest of the World) - Forecast till 2026
Global Dispensing Pharmacy Packaging Machine Market Research Report: Information by Product Type (Fully Automatic, Semi-Automatic), Speed (Low Speed, Standard Speed, High Speed), Function (Filling, Wrapping, Mixing & Split, others) and Region (North America, Asia-Pacific, Europe, Middle East & Africa and South America) - Forecast till 2025
Global Labeling Equipment Market Research Report: Information by Product Type (Pressure Sensitive/Self-Adhesive Labelers, Glue-Based Labelers, Sleeve Labelers and others), Technology (Automatic, Semi-Automatic and Manual), End-Use (Food & Beverages, Healthcare & Pharmaceuticals, Cosmetics & Personal Care, Chemicals and others) and Region (North America, Europe, Asia-Pacific, South America, and Middle East & Africa) - Forecast till 2025
Global Snack food Packaging Market Research Report: Information by Packaging Type (flexible packaging and rigid packaging), Material (plastic, paper, metal, and others), Application (bakery snacks, candy & confections, savory snacks, nuts & dried fruits and others) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America) - Forecast till 2025
Global Freight and Logistics Market Research Report: by Shipping Type (Airways, Railways, Roadways, and Waterways), Service (Inventory Management, Packaging, Warehousing, Transportation, Distribution, Custom Clearance and other), End-Use Industry (Energy & Utilities, Trade and Transportation, Government and Public Utilities, Healthcare, Manufacturing & Construction, Retail, Media and Entertainment, Banking and Financial Services and Telecommunication & Information Technology and others) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America) - Forecast till 2025
Global Corrugated Handle Box Market Research Report: Information by Material (Kraft Paper, Containerboard, Corrugated Board, Recycled Paper and Molded Fiber Pulp and others), Capacity (0–5 KG, 5–25 KG, 25–50 KG and Above 50 KG), End User (Agriculture, Chemical Industry, Food and Beverages, Pharmaceuticals, Personal Care, Retail Industry and others) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America) - Forecast till 2025
Global PET Lidding Films Market: Information by Product type (Dual-ovenable lidding films, Specialty lidding films, High barrier lidding films, Breathable lidding films and Resealable/reclosable films), Application (Trays, Cups, Jars & bottles, and others), End-use (Pharmaceutical, Personal Care & Cosmetics, Food & Beverage and others ) and Region (North America, Europe, Asia-Pacific, Rest of the World) - Forecast to 2025
Global Dunnage Packaging Market Research Report: Information by Material Type (Corrugated Plastics, Molded Plastics, Aluminum, Steel, Fabric Dunnage, Corrugated Paper, Wood, Foams and others), End-Use Industry (Automotive, Aerospace, Electronics, Food & Beverages, Consumer Goods and Healthcare) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America) - Forecast till 2025
Global Recyclable Packaging Market Research Report: Information by Material Type (Glass, Paper, Plastic, Tinplate, Wood, Aluminum, Biodegradable Plastic and Recycled Papers), Packaging Type (Paper & Cardboard, Void Fill Packing, Bubble Wrap and Pouches & Envelopes), End-Use Industry (Healthcare Industry, Personal Care & Cosmetics Industry and Food & Beverages Industry) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America) - Forecast till 2025
Global Fiber Drum Market Research Report: Information by Closure (Metal Closure, Plastic Closure and Fiber/Cardboard Closure), Capacity (Up to 25 Gallons, 26–50 Gallons, 51–75 Gallons and Above 75 Gallons), End-Use Industry (Chemical, Food & Beverage, Pharmaceuticals, Building and Construction and others) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America) - Forecast till 2025.
- Molded Fiber Packaging Market
- Child Resistance Packaging Market
- Bulk Packaging Market
- Packaging Tape Printing Market
- Food Service Packaging Market
- Electrostatic Discharge Packaging Market
- Electronic Goods Packaging Market
- Security Paper Market
- Green Packaging Market
- Composite Packaging Market
- Pet Bottle Recycling Market
- Plastic Recycling Market
- Industrial Tape Market
- Digital Printing Packaging Market
- Packaging Foams Market
- Vacuum Skin Packaging Market
- Flexible Lid Stock Packaging Market
- Inventory Tags Market
- Stick Pouches Packaging Market
- Stick Packaging Market
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.