Corrugated Packaging Market Size
Corrugated Packaging Market size was valued at USD 70 billion in 2022 and is poised to depict a 4% CAGR through 2023-2032, on account of the burgeoning e-commerce sales worldwide.
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Corrugated fiberboard has become a preferred packaging choice, given its ability to deliver much-needed protection for the toughest handling of products. Due to durability, versatility, and stability, this packaging material is utilized across the retail sector and gaining more traction as e-commerce sales spike worldwide.
The consumption of electronics and appliances has also increased in developed nations including the U.S. over the past years. These appliances are highly sensitive in nature and require protection from shocks and external damage. Such requirements will provide lucrative opportunities for corrugated packaging providers. Despite the favorable growth trajectory, the availability of alternatives such as bioplastics may create roadblocks to industry development to some extent over the forecast period.
Corrugated Packaging Market Report Attributes
| Report Attribute |
Details |
| Base Year |
2022 |
| Corrugated Packaging Market Size in 2022 |
235 Billion (USD) |
| Forecast Period |
2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR |
4% |
| 2032 Value Projection |
333 Billion (USD) |
| Historical Data for |
2018 to 2022 |
| No. of Pages |
275 |
| Tables, Charts & Figures |
446 |
| Segments covered |
Product, Printing Technique, End-Use Industry, and Region |
| Growth Drivers |
- Rising product consumption in the food & beverages industry
- Strong folding boxboard demand for the thriving healthcare sector
- Surging electronics production
|
| Pitfalls & Challenges |
|
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Corrugated Packaging Market Analysis
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Corrugated packaging market value from the corrugated box product segment will reach USD 87 billion by 2032, due to the growing awareness of health and wellness and the subsequent increase in clean beauty product sales. Beauty and personal care manufacturers are shifting preference to corrugated boxes, owing to their eco-friendly nature, easy assembly, and advanced printing techniques. Single-wall corrugated box packaging, for example, comes with key attributes including high strength and cost-effectiveness, contributing to product consumption.
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Corrugated packaging industry share from the digital printing technique segment is set to depict a 4% CAGR through 2032. Unlike traditional methods, this technique can print multiple colors at the same time. As a result, it has made inroads into the corrugated packaging business, owing to its versatility and flexibility. Moreover, digital printing is associated with environmental benefits, including the reduction of packaging waste, making it a preferred printing technique for corrugated box makers.
Corrugated packaging market from medical end-use segment is slated to cross USD 2.5 billion by 2032, given the strong awareness of the advantages of corrugated packaging over other substitutes. This packaging has emerged as a dust-free and sterile method for medical products, enabling seamless transportation of sensitive products such as capsules, tablets, lab equipment, and medical equipment. With the growing prevalence of chronic medical conditions and increased usage of medical devices, the use of corrugated boxes for medical packaging applications is expected to rise, especially in emerging economies.
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Asia Pacific corrugated packaging market share is poised to register revenue worth more than USD 52 billion by 2032. The expanding working population and the increasing inclination toward fast foods and packaged products are among the key drivers for product demand. As per data from the Ministry of Agriculture, Food and Rural Affairs of South Korea, there has been a spike in processed food sales over recent years. Thus, along with the changing lifestyles, the consumption of corrugated food packaging solutions is likely to surge across the APAC region.
Corrugated Packaging Market Share
- Packaging Corporation of America (PCA)
- Mondi Group
- Danhil de México
- Westrock Company
- International Paper
- Sultana Packaging
- DS Smith
- S.A. de C.V. (CESCO)
- Smurfit Kappa Group
- Rengo Co., Ltd.
- Evergreen Packaging LLC
- Cascades Inc.
- Georgia-Pacific LLC
- Montebello Container Company LLC
are some of the key players functioning in the corrugated packaging market. These companies are emphasizing mergers and acquisitions and other strategies to expand their footprint in the industry.
Impact of COVID-19 Pandemic
The COVID-19 outbreak resulted in unprecedented supply chain disruptions worldwide. Despite these challenges, the packaging industry has remained relatively resilient, due to retail shutdowns and higher dependence on online shipping. In fear of contracting or transmitting the virus, consumers began to rely increasingly on e-commerce channels for purchases. As e-commerce continues to expand and packaging technologies become more advanced post-COVID-19, the corrugated packaging industry is likely to record substantial growth over the estimated timeline.
Corrugated packaging market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Million Meter and revenue in USD Million from 2018 to 2032 for the following segments
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By Products
- Corrugated Box
- Single phase corrugated box
- Single wall corrugated box
- Double wall corrugated box
- Triple wall corrugated box
- Folding boxboard
By Printing Technique
- Lithography
- Flexography
- Digital Printing
- Others
By End-user
- Food & beverages
- Personal Care & Home Care
- Medical
- Home Appliances & Electronics
- Other FMCG
- Agriculture
- Industrial
- Chemical & Plastics
- Paper & Carton
- Others
By Region
- North America
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Russia
- Asia Pacific
- China
- India
- Japan
- Australia
- Indonesia
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
