According to Market Research Future (MRFR), the global corrugated box market is expected to reach USD 250.9 billion, with a 5.9% CAGR from 2019 to 2025 (forecast period). The study identifies the strengths, opportunities, challenges, and future business risks and offers an accurate analysis of the global market situation under the influence of COVID-19.
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Corrugated packaging products combine cushioning with structural rigidity, offering excellent protection against fragile or heavy damage—their light and clean nature help reduce shipping costs. High-impact graphics on corrugated packaging products help to increase brand recognition, thereby helping to improve sales. In addition, corrugated packaging products are made from recycled cardboard boxes and other waste products from the paper industry. The percentage of reprocessing and recycling corrugated packaging items is also high, making them an environmentally friendly packaging option.
The global corrugated packaging market has seen substantial growth in the packaging industry over the last few years. The growing e-commerce industry, coupled with an increase in preference for sustainable packaging solutions, has further increased global demand for corrugated packaging products. E-commerce platforms have seen enormous growth in recent years due to technological advances, which have resulted in a large online customer base for corrugated packaging products.
Furthermore, the increased application in industries such as food & beverage, personal care, pharmaceuticals, consumer goods, and electronic goods has led to the industry's overall growth. Corrugated packaging is one of the most preferred packaging for small, medium, and large products, which has boosted the global demand for these products. Growth in demand for FMCG products and branded consumer durables in developing economies such as the Asia Pacific and South America has driven manufacturers to expand their distribution network, which has further contributed to increased demand for corrugated packaging.
There are numerous government regulations which lead to restrictions on corrugated packaging, such as the packaging box, which is limited to style 201 or 204 of IS: 6481-1971, it is to have a liner (separator) from the top, bottom, and center for cushioning, to protect the fragile item during shipping, and the box used for shipping should be made of corrugated fiberboard in order to bear the weight. Owing to the growing regulation of the corrugated box industry and the rise in the price of raw materials, numerous companies have been shut down due to the inability to withstand costs.
Segmentation of Market: Corrugated & Paperboard Boxes
The global corrugated & paperboard boxes market, as per segmental analysis, has included segments of material, product, application.
Depending on the material segment, the market has included adhesives, paperboard, waxes, inks, and others. Among these, the paperboard might lead the corrugated and paperboard boxes market until 2023 owing to the growing implementation of paperboard packaging across all the end-user applications.
Depending on the product segment, the market has included folding paperboard boxes, set-up paperboard boxes, corrugated & solid fiber boxes, and others. The corrugated & solid fiber boxes led the market back in the year 2016 and now probable to be the highest-growing product over the assessment period.
Depending on the application segment, the market includes food & beverages, durable goods, chemicals, paper & publishing, and more. The durable goods segment led the market in the year 2016 and is now estimated to be the top-growing application in the next five years, as the global sale of electronic goods is rising, such as home appliances, and other electronic goods.
Europe, North America, Asia Pacific, and Rest of the World are the regions where the study of the global corrugated & paperboard boxes market has been conducted to understand the market dynamics.
Asia Pacific region, as per the study, has led the global corrugated and paperboard boxes market back in the year 2016 and is now anticipated to attain a phenomenal growth over the forecast period. The region would showcase a rapid growth in the e-commerce and food & beverage sectors leading to the rapid growth in demand for corrugated and paperboard boxes. Asia leads in the world in total corrugated production and shipments, which is above 130 billion square meters produced and making 53.7% of the market.
North America also has acquired an impressive share of the global corrugated and paperboard boxes market in support of the growing food & beverages and electronic industry.
Europe will also witness steady growth over the forecast period owing to the rise of substitute packaging methods in many European economies. With online sales escalating, production levels boost, and several new plants starting operations have made the corrugated box industry to look poised for accelerated growth.
Top Market Contenders
Georgia-Pacific Corporation (U.S.), Mondi Group t(Austria), Smurfit Kappa Group (Ireland), International Paper Company (U.S.), Cascades Inc. (Canada), Graphic Packaging International, Inc. (U.S.), Klabin S.A.(Brazil), DS Smith Plc (U.K.), Nine Dragons Paper(Holding) Limited (China), Oji Holding Corporation (Japan), Orora Packaging Australia Pty Ltd (Australia), Nippon Paper Industries Co. Ltd (Japan), WestRock (U.S.), and Rengo Co., Ltd. (Japan) are listed among the string market players by MRFR’s study.
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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.
August 21, 2020 ---- Friends Box Factory (India), a leading provider of corrugated boxes, announced investments in the deployments of an array of finishing and corrugation machines to reinforce automation to improve the production quality and decrease its dependency on manual operation. The company has taken this decision to provide its customers with an economical price range, quick & fast after-sales service, and perfect guidance on packaging solutions.
The company has installed a die-cutter and five-ply servo-controlled flute laminator. Friends Box Factory has also, ordered an upgraded version of a five-ply servo-controlled flute laminator, die-cutter with lead edge feeder, AB pasting machine, and automatic double head stitching machine.
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