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Corrugated Packaging Market

Global Market Study on Corrugated Packaging: Consumer Shift to Processed Foods & Manufacturer Shift to Sustainable Packaging to Simultaneously Benefit Market Growth

Corrugated Packaging Market Segmented By Product Type - Single wall board, Single Face board, Double wall board, Triple wall board in Box, Crates, Trays, Octabin, and Pallet Packaging Type

Corrugated Packaging Market Snapshot

According to Persistence Market Research, the corrugated packaging market is anticipated to generate revenue of US$ 216,086.7 Mn by 2023. The demand for corrugated packaging will accelerate, with the top market players holding a prominent share of the market in 2022. The global market is expected to reach US$ 394,342.2 Mn by 2033, growing at a 6.2% CAGR from 2023 to 2033.

Global Corrugated Packaging Market Size (2022A)

US$ 204,821.6 Mn

Global Corrugated Packaging Market Size (2023E)

US$ 216,086.7 Mn

Projected Corrugated Packaging Market Value (2033F)

US$ 394,342.2 Mn

Value CAGR (2023-2033)

~6.2%

Collective Value Share: Top 3 Countries (2022)

~27.0%

Secondary shipping corrugated boxes, primary corrugated boxes, and corrugated retail display stands are used for packaging non-durable products, consumer durables, food and beverages, and non-food and non-manufacturing commodities in the corrugated packaging sector (in wholesale trade and retail trade services).

The surge in e-commerce purchasing has produced a large need for packaging solutions all around the world. Growing environmental issues and product bans have created a significant demand-supply imbalance for reusable packaging products.

Customized corrugated packaging has gained popularity in recent years, and many businesses are making significant investments to supply such innovative solutions.

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Corrugated Packaging Market Analysis from 2017 to 2022 Vs Market Outlook for 2023 to 2033

From 2017 to 2022, worldwide demand for corrugated packaging increased at a CAGR of ~5.2%, with the United States, Japan, China, India, and the U.K. holding significant shares in the global market.

Given its capacity to provide crucial protection for the most demanding handling of products, corrugated fibreboard has emerged as a popular packaging material. This packaging material is used in the retail industry due to its resilience, adaptability, and reliability and is increasing popularity as global e-commerce sales soar.

Over the past several years, various countries like the India, United States, China, etc. have seen a surge in their use of gadgets and appliances. Due to their high level of sensitivity, these appliances need to be shielded from external harm and shock. Such requirements will present profitable prospects for suppliers of corrugated packaging.

Despite the encouraging growth momentum, the availability of substitutes like bioplastics might act as a barrier to the expansion of the business. Over the next ten years, worldwide sales of corrugated packaging market are anticipated to increase at a 6.2% CAGR.

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What are the Factors Aiding the Growth of Corrugated Packaging Market?

The increasing e-commerce business, which majorly includes online shopping, has witnessed an increase in the demand for corrugated packaging for the shipment of products.

E-commerce business provide good service to consumers. As with the retail revolution, in an ever changing environment, the packaging industry has constantly evolved to address the demands of the hour. With consumers switching to the e-commerce channel, there is a shift in packaging needs as well.

Some key reasons that influence a consumer’s preference for in-store purchases include product safety, shopping experience, as well as shelf life (in case of perishable commodities) – issues that can be suitably addressed through “Packaging”.

Online adoption in certain categories can be accelerated through innovative and suitable packaging which addresses the specific needs of the channel. Thus, the growth in e-commerce business results to increase corrugated packaging business. The trend of E-commerce has increased about 300% since the last decade and is estimated to grow at much higher rate during the forecast period.

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What are the Factors Restraining the Growth of Corrugated Packaging Market?

Availability of low-cost alternative to corrugated packaging is hampering the growth of corrugated packaging market. Stretch and shrink-wrap, reusable plastic packaging and intermediate bulk packaging (container) are more attractive, durable, and economical than corrugated packaging.

Thus, these alternatives are obstructing the demand for corrugated packaging. Furthermore, increasing prices of raw materials (paper) restrains the demand for corrugated packaging products.

Packaging companies have started to focus on finding alternatives for corrugated packaging. For Instance, Smart Packaging Systems has introduced a new packaging system, “THE CUBE Packaging System”. This system is a multi-dimensional packaging which is ready to ship and display ready.

This system reduces the requirement for corrugated material, eliminates quantity of shrink wrap needed and allows for easy display. Moreover, this system is durable and recyclable. The material used in its production is 100 percent paperboard lamination and uses recycled fibers as well as new fibers.

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Country-wise Insights

How is the Corrugated Packaging Market Striving in Japan?

Manufactures of corrugated products focus on implementing innovations to improve product functionality. Working within the existing supply chain should enable new product innovations to develop rapidly, leveraging the scale and manufacturing expertise of large producers to bring improved corrugated packaging materials to market and make large-scale impact.

Manufactures of corrugated packaging products focus on improving packaging efficiency of corrugated products by innovating new technologies. For instance, Rengo Co., Ltd. recently has launched a new system to improve packaging efficiency. The company introduced a special system, “Rengo Gemini Packaging System”, a newly developed automated system for packaging.

This packaging system measures the height of merchandise and custom-makes a package of the right size. This system eliminates empty space in the package and increases transportation efficiency. The Japanese corrugated packaging market is estimated to grow at nearly 6.7% CAGR during the forecast period.

What is the State of Corrugated Packaging Market in the U.S.?

The trend of DIY is rising rapidly in the U.S. corrugated packaging market. People are fabricating stuff on their own, residentially. This has increased the scope of reach as manufacturers of corrugated packaging products are producing DIY (Do-it-yourself) corrugated pallets for end use industry, especially in the logistics industry.

According to Millwood, Inc., a pallet manufacture based in the U.S., the advantage of DIY corrugated pallets is that it is easy to assemble, and no extra tools are required to assemble them. DIY pallets save storage space as it can be easily disassembled. DIY pallets are lighter in weight than wood or plastic pallets. This makes it a perfect solution for airfreight shipment.

The U.S. market contributed to about 19.1% of the global corrugated packaging market in 2022.

What is the Scope of Corrugated Packaging Market in Sweden?

Manufactures are in Sweden are adopting “Arcwise Technology” for the production of corrugated packaging products. According to Indevco Paper Containers, corrugated board manufacturer, Arcwise technology provides unique packaging technology which is able to develop curved corrugated board packaging.

It offers premium packaging at the point of sale through enhanced print quality. The patented technology has significant potential to create lightweight packaging, which can substantially reduce carbon footprint.

Due to the strength gained from the curved shape, up to 30% material savings are possible. The technology provides the unique opportunity to integrate graphic design with curved shaped packaging while having the rigidity of corrugated board. Sweden corrugated packaging market contributed about 6% to the global corrugated packaging market in 2022.

Category-wise Insights

Which Segment Holds the Major Share in Terms of End-Use?

In terms of the end use, the food and beverage industry holds the major share because of the nation's expanding retail and e-commerce industries as well as the spread of online sales channels. The demand for packaged and processed food has also expanded significantly, which has led to a rise in the use of corrugated and folding boxboard and it has changed the dynamics of the market.

Which is the Most Prominent Region in the Market?

According to study, the South Asia corrugated packaging market will account for a highest CAGR of ~9.4% during the forecast period.

The packaging market in South Asia is rapidly developing. Factors such as rising urbanization, more environmental consciousness, and the demand for sustainable and convenient packaging, expanding e-commerce operations, and the adoption of electronic goods, home and personal care items are driving revenue growth in this region.

Which Type of Packaging is mostly utilized?

Corrugated boxes are categorized into different box types such as slotted box, folder box, telescope box and die cut box. Every type of box comes with different properties and are used for packaging of different products. Corrugated boxes are utilized for packaging of almost everything; as a result, it holds the major share of about 80.1% in the corrugated packaging market. This trend is expected to continue during the forecast period.

Competition Landscape

To increase their market reach, major corporations are investing in portfolio development, R&D, and strategic alliances. Other growth strategies employed by top organizations to extend their market presence include partnerships and collaborations, agreements, expansions, acquisitions and mergers, and new product launches.

For Instance:

  • In 2022, UFP Packaging, a subsidiary of U.S.-based holding company UFP Industries, acquired corrugated packaging manufacturer Titan Corrugated and its affiliate All Boxed Up to increase their reach in the market.

Report Scope

Attribute

Details

Forecast Period

2023-2033

Historical Data Available for

2017-2022

Market Analysis

  • US$ Mn for Value
  • Units for Volume

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • MEA

Key Countries Covered

  • United States
  • Canada
  • Brazil
  • Mexico
  • Germany
  • U.K.
  • France
  • Spain
  • Italy
  • Russia
  • South Africa
  • Northern Africa
  • GCC Countries
  • China
  • Japan
  • South Korea
  • India
  • Thailand
  • Malaysia
  • Indonesia
  • Australia
  • New Zealand

Key Market Segments Covered

  • Product Type
  • Packaging Type
  • End-Use
  • Region

Key Companies Profiled

  • DS Smith Packaging Limited
  • Mondi Group
  • Georgia-Pacific LLC
  • Smurfit Kappa Group PLC
  • Westrock Company
  • Rengo Co., Ltd.
  • Saica Group
  • Pratt Industries Inc.
  • Oji Holdings Corporation
  • Packaging Corporation of America
  • International Paper Company
  • Menasha Corporation
  • Corrugated Container Corporation
  • Atlantic Corrugated Box
  • Wisconsin Packaging Corporation
  • Others (on request)

Pricing

Available upon Request

Key Segments Covered in Corrugated Packaging Industry Research

Corrugated Packaging Market by Product Type:

  • Single wall board
  • Single Face board
  • Double wall board
  • Triple wall board

Corrugated Packaging Market by Packaging Type:

  • Box
    • Slotted box
    • Folder box
    • Telescope Box
    • Die Cut Box
  • Crates
  • Trays
  • Octabin
  • Pallet
  • Others

Corrugated Packaging Market by End-Use:

  • Food & Beverage
  • Electrical & electronics
  • Home care products
  • Personal care products
  • E commerce
  • Transportation & logistics
  • Healthcare
  • Others

Corrugated Packaging Market by Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East Africa

- Companies Covered in This Report -

  • DS Smith Packaging Limited
  • Mondi Group
  • Georgia-Pacific LLC
  • Smurfit Kappa Group PLC
  • Westrock Company
  • Rengo Co., Ltd.
  • Saica Group
  • Pratt Industries Inc
  • Oji Holdings Corporation
  • Packaging Corporation of America
  • International Paper Company
  • Menasha Corporation
  • Corrugated Container Corporation
  • Atlantic Corrugated Box
  • Wisconsin Packaging Corporation
  • Other Players (As Requested)

- Frequently Asked Questions -

The global corrugated packaging market reached a valuation of US$ 204,821.6 Mn at the end of 2022.

Between 2017 and 2022, global sales of corrugated packaging increased at 5.2% CAGR.

Europe leads the global market and accounted for the highest share of around ~23% in 2022.

Some of the leading manufacturers of corrugated packaging are DS Smith, Packaging Limited, Mondi Group, Georgia-Pacific LLC, Smurfit Kappa Group PLC, Westrock Company, Rengo Co., Ltd., Saica Group, Pratt Industries Inc., Oji Holdings Corporation, Packaging Corporation of America, International Paper Company, Menasha Corporation, Corrugated Container Corporation, Atlantic Corrugated Box, and Wisconsin Packaging Corporation among others.

The global market for corrugated packaging is expected to expand at 6.2% CAGR through 2033.

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