Corrugated Board Market Size, Share, Growth Analysis, By Flute Type(A-Flute, B-Flute, C-Flute, others), By Board Style(Single Face, Single Wall, Double Wall, Triple Wall), By End-Use(Food & Beverages, Personal Care, Electrical & Electronics, others), By Region - Industry Forecast 2024-2031

Corrugated Board Market size was valued at USD 126.2 billion in 2019 and is poised to grow from USD 134.7 billion in 2023 to USD 238.1 billion by 2031, growing at a CAGR of 6.8% in the forecast period (2024-2031).

Rising need for greener packaging solutions and an extensive growth in the demand for packaging solutions and packaging products due to the rise in several e-commerce platforms worldwide are the major driving factors for the growth of the global corrugated board market during the forecast period. In addition, the characteristics of a corrugated board such as highly recyclable and presence of fluting medium to prevent from shocks and pressure are also anticipated to contribute significantly to the demand for corrugated boards in the coming years.

For instance, according to Morgan Stanley, in South Korea, due to the presence of well-developed payments and logistics infrastructures, online sales segment accounted for around 37% in all retail activity, and it is expected to grow by 45% in the next five years. Similarly, Morgan Stanley estimated that the global e-commerce could grow from USD 2.3 trillion in June 2022 to nearly USD 5.4 trillion by 2031.

Furthermore, continuously growing innovations and rising investment by key market players for the development of their product portfolio and market position is projected to propel the global corrugated board market over the forecast period. For instance, in May 2022, Mondi Group announced that it is going to invest around USD 275 million to increase the production of corrugated board. It will help it to increase supply capacity in Poland, Germany, and Turkey.

US Corrugated Board Market is poised to grow at a sustainable CAGR for the next forecast year.