With a projected CAGR of 6.8% from 2023 to 2033, the size of the global corrugated board market is projected to reach USD 143.86 billion in 2023. By 2033, it is predicted that the corrugated board market would be worth USD 277.75 billion.
Over the upcoming years, the market is anticipated to be driven by an increase in online sales and a rise in consumer awareness of sustainable packaging. The market is anticipated to grow in the upcoming years due to government restrictions regarding food packaging safety and the demand for better packaging materials.
The market is expected to be driven by the ban on plastic packaging in developing nations like India, rising industrialization, and rising international trade during the forecasted period. The market expansion is projected to be supported by the widespread adoption of corrugated boards for goods such as liquid bottles, fruits and vegetables, ready-to-eat food, and confectionery products.
| Attributes | Details |
|---|---|
| Corrugated Board Market CAGR (From 2023 to 2033) | 6.8% |
| Corrugated Board Market Size (2023) | USD 143.86 billion |
| Corrugated Board Market Size (2033) | USD 277.75 billion |
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Demand for corrugated packaging for product shipping has increased as a result of the booming e-commerce industry, which is primarily comprised of online shopping.
Consumers are well-served by e-commerce companies. The packaging industry has continuously developed to meet the needs of the hour, just like the retail revolution did in a constantly changing environment. Packaging requirements have changed as a result of consumers moving to e-commerce.
Through creative and appropriate packaging that meets the unique requirements of the channel, online adoption can be accelerated The expansion of the e-commerce industry causes a boom in corrugated board market trends. E-commerce has grown by over 300% in recent years and is predicted to continue growing rapidly.
Smurfit Kappa is implementing digitalization by creating a variety of new products and introducing them to the corrugated board market. A prominent producer of corrugated packaging solutions, Smurfit Kappa, has improved the corrugated business by introducing digitalization.
The business just created a new line of multifunctional paper that is anticipated to work well with both flexographic and digital printers. The creation of multifunctional paper made it possible for the printer to function alongside the packing material. With the help of this development, the parameters for ideal digital printing have been increased, enabling this technology to reach its full potential.
Numerous advantages, including higher sales and more flexibility, have come from graphic design tailored to each client. The business anticipates stepping up its sustainability initiatives in addition to creating new technologies and upgrading those already in use. These developments are propelling the digitization of paper-based packaging and opening up significant corrugated board market expansion potential.
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Due to severe competition from flexible plastic packaging, the corrugated board market is growing behind time than expected. The value for manufacturers and merchants is flexible packaging. This is because it can reduce packaging weight, which lowers shipping and storage costs. The packing, therefore, takes up less space.
The pouches' single-serve quantities, easy-to-open seal, and peel-and-seal choices may make them more user-friendly for consumers. In retort pouches, they taste better than in tin cans.
Due to convenience, mobility, cost savings, sustainability, and health advantages, manufacturers and package converters are transitioning from rigid to flexible packaging materials. For the corrugated board market, maintaining environmental requirements during manufacture is a difficulty. Even though corrugated boards are in high demand among customers, their inclusion as a highly desired packing solution is seriously hampered by their high energy consumption and the environmental effects they are linked to.
Corrugated boards have a substantial environmental impact in addition to using wood pulp in their production. Therefore, compared to the energy needed to produce plastic, the energy needed for this process is substantially higher.
| Attributes | Details |
|---|---|
| C-flute Segment Share | 25% |
| A-flute Segment CAGR | 7.7% |
In terms of revenue, C-flute leads the segment with over 25.0%. For lightweight items, C-flute gives stronger compression strength than the B-flute and greater stacking strength. It is frequently utilized for shipping cases, glass product packaging, and furniture packing. With less utilization of fiber material, C-flute gives the package a high load-bearing capacity.
An a-flute segment of the corrugated board market is predicted to grow at a maximum CAGR of 7.7% during the projection period. A flute, one of the considerable types, is mostly used for transit packaging.
| Attributes | Details |
|---|---|
| Single Wall Segment Share | 35% |
With a revenue corrugated board market share of nearly 35%, the single wall segment became the leading proportion and is anticipated to hold onto the top spot during the projected period. It serves as an additional layer of protection, divider, pad, or partition that can be utilized to separate the various product layers.
Single-wall shipping cartons in C, B, or E flutes are available from Nordpack GmbH and can be utilized for lighter packaging. It can be easily printed, allowing for the application of various coatings to its surface, and is used to create cartons for the packing of a variety of commodities.
Due to the lesser weight of the single layer of fluted paper used in single-wall corrugated board boxes, shipping expenses are decreased. They are frequently used in e-commerce packaging to deliver more compact and smaller items. Increased demand for packaging solutions is probably a result of the growing popularity of online shopping.
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| Attributes | Details |
|---|---|
| Japanese Market CAGR | 6.7% |
Manufacturers of the market concentrate on introducing innovations to enhance product functionality. Working within the current supply chain should allow new product innovations to develop quickly, leveraging the size and manufacturing know-how of large producers to bring superior corrugated packaging materials to market and make a significant impact.
Manufacturers of corrugated packaging products concentrate on enhancing corrugated products' packing efficiency through the development of innovative technologies.
This packing technology calculates the ideal package size by measuring the height of the goods. With this approach, there is no wasted space in the package, which improves the effectiveness of shipping. During the forecast period, the Japanese corrugated packaging market is anticipated to expand at a CAGR of 6.7%.
| Attributes | Details |
|---|---|
| United States Market Share | 19.1% |
During the projection period, the United States corrugated board market accounted for around 19.1% of the global corrugated packaging market.
In the United States corrugated packaging sector, the DIY movement is expanding quickly. People are producing things on their own, at home. The production of DIY (Do-it-yourself) corrugated pallets for end-use industries, particularly in the logistics sector, by makers of corrugated packaging materials has broadened the reach of the industry.
The benefit of DIY corrugated pallets, according to United States-based pallet manufacturer Millwood, Inc., is that they are simple to put together and don't require any special tools. DIY pallets are space-saving since they are simple to deconstruct. Pallets made by hand weigh less than wooden or plastic ones. This makes it the ideal option for shipping flying freight.
| Attributes | Details |
|---|---|
| Sweden Market Share | 6% |
For the creation of items made of corrugated packaging, manufacturers in Sweden are implementing Arcwise Technology. According to Indevco Paper Containers, a maker of corrugated boards, this technology offers distinctive packaging technology that may be used to create curved corrugated board packaging.
By improving print quality, it provides premium packaging at the point of sale. The patented technology has the potential to significantly reduce carbon footprint by enabling the development of lightweight packaging.
Up to 30% in material savings are attainable due to the strength that the curved shape adds. By combining graphic design with curved packaging that has the rigidity of corrugated board, technology offers a singular possibility.
During the projection period, the corrugated board market in Sweden made up around 6% of the global market.
| Attributes | Details |
|---|---|
| Asia Pacific Market Share | 40% |
With a revenue share of more than 40%, Asia Pacific was revealed as a significant corrugated board market. In Asia Pacific, the packaging industry and therefore corrugated boards are expected to develop due to the existence of densely populated nations like China and India, rising urbanization, and rising per capita income in the region.
The market may expand as a result of rising environmental consciousness and rising demand for environmentally friendly packaging options in the region. The emphasis may move to paper packaging as a result of government initiatives to outlaw plastic packaging in nations like India. The amount of FDIs and funding for various packaging initiatives in Asian nations is anticipated to increase rapidly.
These developments are anticipated to fuel the expansion of these nations' packaging manufacturing industries. The demand for corrugated board increase in the region during the projection period would have a solid base supported by economic and industrial improvements.
Over the forecast period, Asia Pacific is anticipated to have swift revenue CAGR. Due to technical advancements like blockchain technology, machine learning, artificial intelligence, and IoT, the region is expanding at an exponential rate (IoT). Due to low energy and labor costs and excellent labor productivity, a significant amount of paper mills in Asia are favorably positioned on the cost curve of the global corrugated board market.
Throughout the world, the corrugated board market is enormous and fragmented. At all sizes of manufacturers, from small to large, the market's participants are fiercely competitive. Many well-established, century-old public corporations are present, which makes the market distinctive. In other cases, the manufacturing firms compete with other businesses that make goods that may serve as corrugated board alternatives and are identical to theirs. Services, product quality, costs, and prices are the main determinants of market competitiveness.
Due to the growth of highly specialized products like corrugated boards with lightweight flutes, plastic coatings, and printing-compatible surface sheets, manufacturers in the corrugated board market can gain a competitive edge to stand out in the printing-compatible surface sheets. By offering consumers value-added, distinctive solutions, the enterprises compete in the areas of services and linked machinery solutions.
Recent Development:
| Date | June 29th, 2021 |
|---|---|
| Company | Smurfit Kappa Group LLC |
| Details | The Smurfit Kappa Group LLC has launched the inauguration of a new e-commerce corrugated packaging plant in the United Kingdom. This facility tested and introduced innovative e-commerce solutions that are trustworthy ISTA certified by June 2021. |
| Date | February 1st, 2021 |
|---|---|
| Company | Mondi |
| Details | Mondi may launch BCoolBox, a new product, to its sustainable e-commerce line-up, which may also contain fresh food and produce. It is a packaging solution built of a corrugated range with thermo-insulation that may keep food cold and at a consistent temperature of fewer than 7 degrees for 24 hours without requiring external cooling. |
| Date | August 2021 |
|---|---|
| Company | DS Smith |
| Details | DS Smith created fully recyclable packaging as part of the Blaue Helden e-commerce packaging concept. With this sustainably created e-commerce packaging, DS Smith offers plastic-free cleaning tabs from Blaue Helden that have an improved appearance suitable for online retail and are made entirely of corrugated cardboard. |
| Date | 2022 |
|---|---|
| Company | UFP Packaging |
| Details | UFP Packaging, a division of UFP Industries, a holding corporation based in the United States, bought Titan Corrugated and its subsidiary All Boxed Up in 2022 to broaden its market reach. |
| Date | March 2021 |
|---|---|
| Company | International Paper |
| Details | International paper completed the purchase of two cutting-edge corrugated board facilities in Spain. The corporation may be able to improve its skills in Madrid and Catalonia by acquiring this business. The company's corrugated board business in EMEA is crucial to its overall strategy. In the industrial market, it provides high-quality packaging solutions with an emphasis on fruit and vegetable packaging and e-commerce solutions. As of April 1, 2021, the two companies are a part of International Paper. |
| Date | September 2021 |
|---|---|
| Company | Mondi Group |
| Details | The Mondi Group's corrugated board manufacturing facility in Szczecin, Poland, received a new production line in September 2021. The company's packaging range may grow as a result of the growth, and the production procedures may be simplified. The company is in a good position to maintain its status as a leading provider of e-commerce packaging to the expanding European market in conjunction with this development. |
The market is expected to secure a valuation of USD 143.86 billion in 2023.
The market is forecast to register a CAGR of 6.8%.
C-flute is the most popular in the category.
The growth potential of the market in Japan is 6.7%.
The booming e-commerce industry is the key driver of the market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Flute Type 5.1. Flute A 5.2. Flute B 5.3. Flute C 5.4. Flute E 5.5. Flute F 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Board Type 6.1. Single Wall 6.2. Double Wall 6.3. Triple Wall 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use 7.1. Food & Beverages 7.2. Pharmaceuticals 7.3. Cosmetics & Personal Care 7.4. Automotive 7.5. Transportation & Logistics 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. East Asia 8.5. South Asia 8.6. Oceania 8.7. Middle East and Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. International Paper 18.2. Georgia-Pacific 18.3. WestRock Company 18.4. Packaging Corporation of America 18.5. Stora Enso 18.6. Oji Holdings Corporation 18.7. Smurfit Kappa 18.8. Port Townsend Paper Company 18.9. Mondi 18.10. DS Smith 19. Assumptions & Acronyms Used 20. Research Methodology
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Corrugated Board Market
