The global corrugated packaging market is expected to grow at a compound annual growth rate (CAGR) of 6.5% from its estimated value of US$ 235.2 billion in 2024 to US$ 441.4 billion by the end of 2034, according to the most recent Fact.MR analysis.
Corrugated packaging is becoming more and more in demand across a range of end-use sectors as environmental concerns become more pressing. Corrugated packaging is the material of choice for numerous industries, including food and beverage, pharmaceutical, and transportation. This is because of its strength and durability.
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Packaging is an essential tool for branding and for protecting products during transit in the fast-paced world of consumer goods and e-commerce. Corrugated packaging is unique among the many packaging options accessible because of its adaptability, toughness, and environmental friendliness. This piece delves into the ever-changing corrugated packaging market, examining its history, major developments, and crucial function in the contemporary supply chain.
Competitive Landscape:
Mondi PLC declared in March 2024 that it will buy DS Smith.
From March 7 to March 9, 2024, the India International Convention and Expo Center in New Delhi hosted the Corru Pack Print India Expo 2024, an exhibition devoted to the corrugated packaging machinery business.
Renowned corrugated packaging suppliers VPK Group and IEMME Packaging launched a joint venture in January 2024 with the shared objective of long-term growth and expansion.
The packaging and resource recovery business Visy opened a new corrugated cardboard box manufacturing facility in Hemmant, Queensland, Australia, in October 2023.
For the packaging of white goods, Mondi gave corrugated boards precedence over expanded polystyrene in November 2023.
The World Corrugated Awards (WCA) 2023 Ceremony was held in July 2023 at the Wyndham Hotel in Shanghai, Hongqiao, by Reed Exhibitions. Virus Ren Guard Packaging took home the Design of the Year title in the Innovation category. Tri-Wall (Asia) earned the Application of the Year award for its Optimpak product, and Tongling Xingrui Intelligent Technology won the Material of the Year award for its ultra-thin honeycomb panels.
The Foundation of Packaging:
Because of its ridged construction and layers of linerboard between them, corrugated packaging has come to be associated with shipping boxes, retail packaging, and even creative displays. An industry worth billions of dollars has grown out of what started out as a simple way to ship fragile items, serving a variety of industries including e-commerce, electronics, food and beverage, and medicines. For companies trying to safeguard their goods while reducing their environmental effect, corrugated packaging offers a flexible and sustainable alternative, ranging from specially made boxes to eco-friendly packaging options.
Key Companies Profiled:
DS Smith Packaging Ltd.
Georgia-Pacific, LLC
Saica Group
International Paper
Westrock Company
Mondi Group
Pratt Industries Inc.
Oji Holdings Corporation
Packaging Corporation of America
International Paper Company
Corrugated Container Corporation
Rengo Co., Ltd.
Smurfit Kappa
Atlantic Corrugated Box
WestRock Company
Wisconsin Packaging Corporation
Menasha Corporation
Growth catalysts and market dynamics:
Numerous reasons are driving the steady expansion of the corrugated packaging market. The need for corrugated boxes has increased due to the growth of e-commerce and online shopping since these boxes are ideal for the secure delivery of goods via a variety of distribution methods. Additionally, companies are using corrugated packaging comprised of recyclable and renewable resources due to the increased awareness of environmental issues and the demand for sustainable packaging solutions. Further aiding in industry expansion has been the adaptability of corrugated packaging, which can be made to match precise dimensions, forms, and branding specifications.
Important Market Trends:
The corrugated packaging market is changing as a result of many factors. A noteworthy development in corrugated packaging customisation and personalization is the use of digital printing technology. With the help of eye-catching and distinctive designs that speak to their target market, brands no longer need to worry about costly printing plates or minimum order quantities. Additionally, advancements in corrugated packaging design and materials have been made possible by the need for lightweight and space-efficient packing solutions, which is being driven by the desire to minimize transportation costs and maximize warehousing capacity. Furthermore, marketers are able to improve customer engagement and track items all the way through the supply chain thanks to the incorporation of smart packaging features like NFC tags and QR codes.
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Opportunities and Difficulties in the Market:
The corrugated packaging market is growing, but it still has to contend with issues like fluctuating raw material prices, competition from other packaging options, and regulatory requirements for recycling and waste management. But these difficulties also offer chances for uniqueness in the market and creativity. Corrugated packaging producers can lessen their environmental impact and attract environmentally concerned customers by investing in sustainable methods, such as employing renewable energy sources and streamlining recycling procedures. Additionally, businesses can lower costs, increase productivity, and improve product quality by embracing automation and digitalization in their production processes.
Prospects for the Future:
Future prospects for the corrugated packaging market seem bright. The market is expected to increase steadily because to the persistence of e-commerce, the rising need for environmentally friendly packaging options, and the constant advancements in design and technology. Furthermore, corrugated packaging is anticipated to continue to be a favored option for companies looking to satisfy their packaging requirements as well as their sustainability objectives, as customers choose brands that exhibit environmental responsibility and transparency.
Segmentation of Corrugated Packaging Market Research:
By Product Type :
Single-Wall Boards
Single-Face Boards
Double-Wall Boards
Triple-Wall Boards
By Packaging Type :
Boxes
Crates
Trays
Octabins
Pallets
By End Use :
Food Beverages
Electrical Electronics
Home Care Products
Personal Care Products
e-Commerce
Transportation Logistics
Healthcare
By Region :
North America
Europe
Latin America
East Asia
South Asia Oceania
Middle East Africa
In summary, within the larger packaging business, the corrugated packaging market is a vibrant and strong area. Corrugated cardboard packaging is still the preferred option for packaging for companies all over the world because of its adaptability, robustness, and sustainability. A more robust and sustainable supply chain for years to come can be achieved by players in the corrugated packaging ecosystem by embracing market trends, tackling obstacles, and investing in innovation and sustainability.
