The global corner pads market is anticipated to accumulate a market value of US$ 394.06 million in 2023 and is expected to record a market valuation of US$ 1,240 million by exhibiting a CAGR of 12.1 % in the forecast period 2023 to 2033. The market for corner pads market registered a CAGR of 7.9% in the historical period 2018 to 2022.
The ripple effect of environmental sustainability-driven trends have started to penetrate the global packaging industry thereby pushing vendors to focus on making edge protectors from paper and corrugated cardboard. End-users are also increasingly opting for sustainable packaging solutions due to related environmental concerns. Large retailers are aiming towards minimizing wasteful packaging, and consumers are expecting more sustainable packaging options from vendors. The rising focus on adopting green packaging materials, such as corrugated edge protectors, helps in decreasing environmental pollution caused by the packaging industry. With the increasing demand for eco-friendly products, packaging companies are also innovating to introduce greener secondary packaging products and systems. Thus, these initiatives will fuel the sales of corner pads during the forecast period.
On the other hand, the rising internet penetration is also contributing in the growth of e-commerce businesses. In order to advance in customer service and retain existing customers, e-commerce vendors are focusing on their product packaging to prevent its hampering during transit and handling. Therefore, the expanding e-commerce business is anticipated to showcase a positive outlook during for the targeted market in the coming years.
Rising urbanization, globalization and modernization are also propelling the growth of corner paper pads market. Expansion of the cosmetics and personal care industry and surging demand for angular cardboard edge protectors by logistics and transportation industries will further spur growth in the product demand.
In addition, increasing technological developments can lead to market progression of Cardboard corner pad protectors. Moreover, with the rising demand for large paper rolls in several media publications and periodicals, the need to protect the roll from opening has increased exponentially. This, as a result, is anticipated to stimulate the growth of the targeted industry during the assessment period.
The surging research and development proficiencies, increasing consumption of alcoholic and non-alcoholic beverages across the globe, and surging demand for environmentally friendly and cost-effective packaging solutions will further boost the market in the forthcoming period.
Among regional markets, the North America corner pads protector market is expected to dominate with maximum share of 37.4% during the projected period. The growth is attributed to growing demand for advanced edge protectors to guarantee product safety during transit, swift adoption of innovative and sustainable packaging solutions, increasing demand in warehousing and logistics and transportation sectors, rising import and export rate of consumer and industrial goods, and growing preference for recycled paperboard paper edge protectors, owing to their cost-effectiveness and environmental sustainability.
Similarly, the Asia-Pacific paper edge protectors’ industry is anticipated to register fastest revenue CAGR of 10.2% during the forecast period. The rapid expansion in industrialization and urbanization, surging demand for FMCG goods, swift growth in the manufacturing sector (food and beverage, pharmaceutical, personal care & cosmetics, electronics manufacturing, and chemicals), rising adoption of protective and sustainable packaging materials, mounting trend of online shopping, and increasing use of paper edge protectors in the e-commerce logistics sector are some key factors anticipated to drive revenue growth in this region.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | US$ 394.06 million |
| Projected Market Value in 2033 | US$ 1,240 million |
| Growth Rate (2023 to 2033) | 12.1% CAGR |
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Latest developments in technology, mergers, acquisitions, tie-ups, and partnerships within the companies involved in manufacturing corner pads are expected to create lucrative opportunities for market growth during the forecast period.
Newly released data from corner pads market analysis shows that global demand of the overall corner pads market is anticipated to register a CAGR of ~5.4% during the forecasted period and reach millions of units by 2031. East Asia and South Asia regions are projected to expand at higher growth rates and capture a significant market share during the forecast period.
During the transportation of packaged goods, it is of utmost importance that the secondary or tertiary packaging of the product is intact and not damaged in any way due to the shocks and external environmental factors.
Corner pads are commonly made of corrugated paper and are used to protect the edges of the secondary and tertiary packaging solutions. The increasing industrialization, heightening of import and export activities coupled with elevated packaging needs are bolstering the demand for corner pads globally.
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The use of sustainable yet recyclable solutions in the packaging industry is one of the key trends followed by the industry players to attract customers and achieve their sustainability goals.
In Europe due to the stringent regulatory compliances against plastic material, the application of sustainable packaging products is becoming a necessity. As corner pads are most commonly made from paper, they are environmentally friendly, and they can also be reused, which is a bonus to the manufacturers.
The flourishing logistics industry is a key contributor in driving the demand and sales of the corner pads in the market. As a result of the deliberate efforts of manufacturers and the national governments, the logistics industry has witnessed substantial growth in the past decade.
The increasing use of technology and innovative packaging solutions is supporting the logistics industry growth. Corner pads, especially corrugated corner pads are extensively used in the logistics industry to safeguard freight. During the foreseeable years, the corned pads market is anticipated to expand incrementally on the back of the flourishing logistics industry.
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There has been a significant rise in the awareness of the population in developed economies regarding the damaging environmental effects of the consumption of plastic. In the corner pads market, plastic material is commonly used by many players in the industry.
The growing aversion towards the use of plastic packaging solutions among consumers might restrain the growth of plastic corner pads in the market.
Key global players such as
In the Asian region, players like
are actively involved in the corner pads market.
Key players in the industry are focused on expanding their geographical reach and product offerings. As a result of many regional players offering corner pads in the markets across the globe, the competition is immense.
Global manufacturers in the industry are attempting to form strategic partnerships with regional players and enter into long term agreements with the customers to retain maximum market share and expand their business activities. The key players are also expanding their product manufacturing capabilities.
For instance, in February 2019, Kunert Group announced the expansion of their Peiting plant in Germany for increasing the manufacturing capacity of corner pads.
The demand for customized corner pads according to the packaging requirement of the clients is gaining significant traction. Many manufacturers in the corner pads market are shifting towards adopting bespoke manufacturing practices to attract more customers.
The customization is not offered by many players in the corner pads market. The elevating demand for customized solutions is creating a huge opportunity for manufacturers to enhance their product offering and capture maximum market share.
China has been and continues to be a hub for manufacturing activities for a large number of products. The ease in accessibility to cheap labor and raw material along with favorable government policies regarding the manufacturing sector are some of the reasons behind attracting global manufacturers to set up their plants in the country.
The constant growth of the country’s manufacturing sector is projected to grow significantly in the foreseeable future. As a result of extensive applications of the corner pads in the packaging of many manufactured products the market demand for the corner pads is anticipated to bolster on the back of the growing manufacturing industry in China.
The logistics industry is one of the few industries that are severely affected by the COVID-19 pandemic. The lockdowns announced by the national governments globally were responsible for slowing down the industry growth.
Further, the impact of restrictions imposed by the government authorities on the logistics of nonessential items considerably dampened the sales of the corner pads in the market.
The corner pads market growth suffered a blow in terms of sales due to the pandemic. However, the target market is improving with the ease of restrictions and lockdowns across the globe and is expected to recover rapidly.
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Corner Pads Market
