Global Corrugated Board Packaging Market Size, Analysis And Forecast To 2031

(MENAFN- Straits Research) Introduction

Corrugated board products are designed to offer the highest level of protection during storage and transportation for delicate, big, bulky, or high-value products. Layers of corrugated board strengthen the packaging, making it more robust than regular cardboard. To add strength, corrugated cardboard uses a variety of liners, such as kraft liners, test liners, and chip linear. The transit cushion for the product is made of corrugated paperboard. Corrugated packaging is used in place of wood and metal because it is eco-friendly, economical, and entirely renewable. There are many types of corrugated board packaging, including single-phase, single-wall, double-wall, triple-wall, and more.

In single-phase corrugated board packaging, there are one or two sheets of linear board and one flute. In single-wall corrugated board packaging, one sheet of the corrugated medium is adhered to and sandwiched between two sheets of liner board. Double wallboard is a corrugated board packaging consisting of two layers of the corrugated medium sandwiched between three layers of liner board. The corrugated board packaging style known as "triple wallboard," which has four layers of liner board in addition to three layers of corrugated medium, is thought to be the strongest of all corrugated board packaging styles.

Market Dynamics Increasing Use of Lightweight Materials Drives the Global Market

Packaging initiatives that support sustainability and lightness are becoming crucial to engage more consumers. Sustainability is quickly becoming the most critical development priority as more consumers and businesses strive to comply with zero-waste regulations. Packaging manufacturers consistently invest in innovation, both in terms of design and the materials used, taking demographic and lifestyle changes into account. The corrugated board industry's leading product trends and innovations involve lightweight containerboards weighing fewer than 26 lbs/thousand square feet. It significantly decreased the price of shipping. Creative fluting design, which offers superior printing and cost savings through effective volume utilization, has also fueled the industry.

Rise of E-Commerce and Advancements in Digital Printing Techniques Opportunities

Corrugated board is being used in packaging more frequently as sustainability becomes a crucial issue for the entire supply chain. Recycling is straightforward because the pulp and paper industry is skilled at converting these materials into the most recent varieties of containerboard. Corrugated protective formats are now preferred over polymer-based rivals like (EPS) foams. The growth of e-commerce and improvements in digital printing technologies have increased the demand for corrugated packaging. The rapidly growing online sales will significantly impact the demand for packaging, particularly in the corrugated industry, which accounts for about 80% of the e-commerce market's direction. Corrugated cases are still used to ship goods and products to an online retailer's warehouse or fulfillment center, even though they do not have to be in formats suitable for retail sales. The exposure of subscription box and meal kit services, which offer direct-to-consumer delivery of specialty food using a weekly or monthly subscription, has created a new opportunity for corrugated board suppliers with delivery-friendly formats that contain goods inside a die-cut interior. As e-commerce trade expands into the grocery industry, there will be an increase in demand for suppliers of this corrugated format in the future.

Regional Analysis

Asia-Pacific is the highest revenue contributor and is anticipated to expand at a CAGR of 4.18% during the forecast period. China's corrugated board packaging market is significantly impacted by the rising per capita income, shifting social climate, and changing demographics. Due to this change, new forms, procedures, and packaging materials must be used. During the projection period, the corrugated packaging market is anticipated to be driven by the expansion of e-commerce titans like Alibaba. As health-conscious trends gain popularity, the packaging industry is looking for new materials to package food and beverages. These materials are believed to have mechanical toughness and antibacterial qualities that will increase the product's shelf life. As a result, it is anticipated that the nation's consumption of packaged foods and packaging materials will increase.

According to Australia's Department of Agriculture and Water Resources, China's sparse and degraded agricultural resources are a constraint on the country's ability to meet the growing domestic food supply demand. The government must look for alternatives to importing food products to protect the product from harm and degradation brought on by climatic changes. As a result, the corrugated packaging sector in the area would prosper. Due to factors like a developing e-commerce packaging industry, declining pulp prices, and growing public awareness of environmentally friendly packaging, it is predicted that China's paper packaging market will expand.

Europe is anticipated to grow at a CAGR of 3.53% during the forecast period. Germany has one of the biggest corrugated board packaging industries in Europe. The country's economy is the biggest in the EU, and domestic packaging production and consumption have increased steadily. The Joint Committee of German Packaging Manufacturers estimates that in 2020, 19 million tons of packaging were produced (GADV). 47% of the packaging, or the majority, was made of cardboard and paper. The two packaging characteristics that matter the most to German consumers when they shop online are recyclability (44%) and product protection (38%), according to the Innova Consumer Survey 2020. According to these statistics, consumers are increasingly choosing the recyclable protective packaging offered by corrugated boxes. Additionally, the nation's corrugated board packaging industry is expanding due to the trend toward environmentally friendly packaging. This is because local industry experts have long issued warnings regarding the massive amounts of packaging waste and the rising resource consumption for packaging.

Key Highlights

• The global corrugated board packaging market was valued at USD 177.41 million in 2022. It is expected to reach USD 247.3 million by 2031, growing at a CAGR of 3.76% during the forecast period (2023–2031).
• Based on the end user, the global corrugated board packaging market is bifurcated into processed foods, fresh food and produce, beverages, paper products, and electrical products. The processed foods segment is the highest contributor to the market and is expected to grow at a CAGR of 3.83% during the forecast period.
• Asia-Pacific is the most significant revenue contributor and is expected to grow at a CAGR of 4.18% during the forecast period.

Competitive Players

Competitive Players

The global corrugated board packaging market's major key players are International Paper Company, Mondi Group, Smurfit Kappa Group PLC, DS Smith PLC, WestRock Company, Packaging Corporation of America, Cascades Inc., Oji Holdings Corporation, Georgia-Pacific LLC, Nippon Paper Industries Ltd, Rengo Co. Ltd, Klingele Papierwerke GmbH and Co. KG, Klabin SA, and Sealed Air Corporation.

Recent Developments

Market News

• In November 2022, A significant investment of more than 20 million euros was made by International Paper, a global leader in the fiber-based packaging and absorbent pulp industries, to expand the capacity and capabilities of its Italian box plants in Bellusco, Catania, and Pomezia.
• In October 2022, Finish dishwasher tabs from Mondi and Reckitt were packaged in paper-based packaging, which used 75% less plastic.

Segmentation

Global Corrugated Board Packaging Market: Segmentation By End-User Industry

• Processed Foods
• Fresh Food and Produce
• Beverages
• Paper Products
• Electrical Products

By Regions

• North America
• Europe
• Asia-Pacific
• Latin America
• South America

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