USD 135.45 Billion
Corrugated Packaging Market Size, Share, Growth Analysis, By Type(Single Wall, Double Wall, Triple Wall, Single Faced), By End Use(Food & Beverages, Retail, Industrial, Others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15A2244 |
Region:
Global |
Published Date: March, 2024
Pages:
184
|Tables:
65
|Figures:
76
Corrugated Packaging Market Insights
Global Corrugated Packaging Market size was valued at USD 135.45 Billion in 2022 and is poised to grow from USD 142.49 Billion in 2023 to USD 213.76 Billion by 2031, at a CAGR of 5.2% during the forecast period (2024-2031).
Corrugated packaging is designed to offer the best amount of protection during storage and transit for delicate, big, bulky, or high-value products. Corrugated packaging is used in place of wood and metal because it is eco-friendly, economical, and entirely reusable. The globalisation of the e-commerce industry and the rise in demand for environmentally friendly packaging are the main market-driving drivers. The market's growth is anticipated to be constrained by the corrugated boards' lack of durability.
Food and beverage, healthcare, cosmetics and personal care, and consumer products are just a few industries that use plastic packaging extensively. On the other hand, the environment is suffering as a result of the rising plastic consumption. The weight of the entire world's population is about equal to the 300 million tonnes of plastic waste that is produced each year, according to the UN. Sustainable packaging practices were introduced in an effort to reduce the enormous amount of plastic garbage that is produced each year. To meet the increased consumer demand for sustainable packaging, the end-use sectors are converting from plastic to corrugated board packaging. During the anticipated years, the nation is expected to grow steadily and significantly.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Single Wall
Fastest Growth
Single Wall
Growth Rate
5.2% CAGR
Global Corrugated Packaging Market ($ Bn)
Country Share for North America Region (%)
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Corrugated Packaging Market Segmental Analysis
Global Corrugated Packaging Market is segmented on the basis of type, end use and region. By type, the market is segmented into single wall, double wall, triple wall, single faced. By end user, market is segmented into food & beverages, retail, industrial, others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Corrugated Packaging Market Analysis by Type
The single wall segment is the largest segment of the market, accounting for a share of over 50% in 2022. The single wall segment is dominant due to its low cost and ease of use. Single wall corrugated packaging is made up of a single layer of corrugated board, which is sandwiched between two layers of linerboard. This type of packaging is often used for shipping lightweight items, such as clothing, electronics, and food.
The double wall segment is the second largest segment of the market, accounting for a share of over 30% in 2022. The double wall segment is growing due to its increased strength and durability. Double wall corrugated packaging is made up of two layers of corrugated board, which are sandwiched between three layers of linerboard. This type of packaging is often used for shipping heavier items, such as appliances, furniture, and construction materials.
Corrugated Packaging Market Analysis by End Use
The dominant segment in the global corrugated packaging market by end-use is the food and beverage industry. This is due to the fact that corrugated packaging is a cost-effective and efficient way to package food and beverages. Corrugated packaging is also a strong and durable material that can protect food and beverages from damage during shipping. The food and beverage industry is expected to continue to be the dominant segment in the global corrugated packaging market in the coming years.
The fastest growing segment in the global corrugated packaging market by end-use is the e-commerce industry. Because online buying is becoming more and more popular. E-commerce retailers need strong and durable corrugated packaging to ship their products to customers. The e-commerce industry is expected to be the fastest growing segment in the global corrugated packaging market in the coming years.
Global Corrugated Packaging Market By Type
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Corrugated Packaging Market Regional Insights
The dominant region in the global corrugated packaging market is North America. This is due to the fact that North America has a large and growing economy, as well as a strong demand for corrugated packaging from a variety of industries. The food and beverage industry, the retail industry, and the industrial industry are the major end-users of corrugated packaging in North America.
The fastest growing region in the global corrugated packaging market is Asia Pacific. This is due to the fact that Asia Pacific is a rapidly developing region with a large and growing population. The food and beverage industry, the retail industry, and the industrial industry are the major end-users of corrugated packaging in Asia Pacific. The market would expand due to the region's rising environmental consciousness and rising demand for eco-friendly packaging options. The emphasis on paper packaging will also change as a result of government moves in nations like India to outlaw plastic packaging. Asia is expected to see a substantial increase in foreign direct investments (FDIs) and investments in a number of packaging projects.
Global Corrugated Packaging Market By Region
- Largest
- Fastest
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Corrugated Packaging Market Dynamics
Corrugated Packaging Market Drivers
Growing FMCG Industry
- The fast-moving consumer goods (FMCG) sector, which includes products like food, beverages, personal care items, and household products, is a major driver of the corrugated packaging market. The FMCG industry requires robust and efficient packaging solutions to ensure product safety, transportation convenience, and shelf appeal. Corrugated packaging offers durability, printability, and protection, making it well-suited for packaging FMCG products.
Increase in Urbanization and Retail Sector
- The rapid urbanization and the expansion of the retail sector in developing countries are driving the demand for corrugated packaging. As more people move to urban areas and the retail infrastructure expands, there is a higher requirement for effective packaging solutions to support the movement of goods from manufacturers to retailers. Corrugated packaging, with its versatility, strength, and cost-effectiveness, meets these demands effectively.
Corrugated Packaging Market Restraints
Competition from Alternative Packaging Materials
- The corrugated packaging market faces competition from alternative packaging materials such as plastics, flexible packaging, and rigid packaging. These materials offer different advantages such as lightweight, durability, and unique design possibilities. As companies explore different packaging options to meet specific requirements, the demand for corrugated packaging may be affected.
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Corrugated Packaging Market Competitive Landscape
All throughout the world, the market is sizable and dispersed. As a result, the market's participants—from small to large manufacturers—are very competitive. A significant number of well-established, century-old public corporations are also present, which further distinguishes the market. But in a number of cases, the manufacturing firms also go off against rival businesses that are making goods that could serve as corrugated boards' replacements.
Corrugated Packaging Market Top Player’s Company Profiles
- International Paper (United States)
- WestRock (United States)
- Smurfit Kappa Group (Ireland)
- DS Smith (United Kingdom)
- Mondi Group (United Kingdom)
- Packaging Corporation of America (United States)
- Nine Dragons Paper Holdings Limited (China)
- Georgia-Pacific LLC (United States)
- Lee & Man Paper Manufacturing Ltd. (Hong Kong)
- Oji Holdings Corporation (Japan)
- Pratt Industries (United States)
- Rengo Co., Ltd. (Japan)
- Svenska Cellulosa Aktiebolaget (SCA) (Sweden)
- Stora Enso (Finland)
- Sonoco Products Company (United States)
- Otorio Co., Ltd. (Japan)
- Smurfit-Stone Container Corporation (United States)
- Packaging Corporation of Europe (PCE) (Belgium)
- Klabin S.A. (Brazil)
- Bio Pappel S.A.B. de C.V. (Mexico)
- BillerudKorsnäs AB (Sweden)
Corrugated Packaging Market Recent Developments
- In May 2023, International Paper announced that it will invest $100 million to expand its corrugated packaging capacity in North America. The investment will be used to build a new corrugated sheet plant in Georgia and to upgrade existing corrugated packaging facilities in Texas and Wisconsin.
- In April 2023, Smurfit Kappa Group announced that it has acquired Corrugated Containers, Inc., a leading corrugated packaging company in the United States. The acquisition will strengthen Smurfit Kappa's position in the US corrugated packaging market.
- In March 2023, DS Smith plc announced that it will invest $150 million to expand its corrugated packaging capacity in Europe. The investment will be used to build a new corrugated sheet plant in Poland and to upgrade existing corrugated packaging facilities in Germany and the United Kingdom.
Corrugated Packaging Key Market Trends
- Technological advancements in digital printing have had a significant impact on the corrugated packaging market. Digital printing allows for high-quality, vibrant, and customizable printing on corrugated boxes, eliminating the need for traditional printing plates. It enables shorter production runs, quicker turnaround times, and cost-effective customization, making it ideal for personalized and on-demand packaging solutions.
- Environmental factors play a key role in the adoption of eco-friendly practices and drive the growth of the market. The increase in awareness regarding the environmental issues further surge the need for sustainable packaging solutions. The corrugated packaging, being manufactured from recyclable and renewable materials, is an eco-friendly choice for various industries.
- The need to reduce transportation cost, and to decrease the overall packaging weight acts as a key factor for the growth of the market. Manufacturers were exploring ways to decrease the weight of corrugated packaging without compromising strength, and by reducing the transportation cost.
Corrugated Packaging Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analyses, the global corrugated packaging market has been experiencing steady growth in recent years and is expected to continue its positive trajectory. Corrugated packaging is widely used across industries due to its versatility, strength, and eco-friendly nature. Technological advancements have played a crucial role in the development of the corrugated packaging market. Innovations in digital printing technology have enabled high-quality and customizable printing on corrugated boxes, allowing brands to enhance their packaging designs and create a unique brand identity. Automation and robotics have also improved manufacturing processes, increasing efficiency and productivity. The corrugated packaging market faces challenges such as competition from alternative packaging materials, fluctuating raw material prices, supply chain disruptions, limited shelf life, and design constraints. Additionally, the industry needs to comply with regulations related to product safety and environmental impact, which can add complexity to manufacturing processes. The market is expected to continue its growth trajectory, driven by emerging markets, innovative packaging designs, and the ongoing shift towards sustainable packaging solutions.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 135.45 Billion |
| Market size value in 2031 | USD 213.76 Billion |
| Growth Rate | 5.2% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Corrugated Packaging Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Corrugated Packaging Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Corrugated Packaging Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Corrugated Packaging Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Corrugated Packaging Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Corrugated Packaging Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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