Corrugated Packaging Industry: 2021 Application, Solutions and Business Opportunities 2027
komalAccording to Market Research Future (MRFR), the global corrugated packaging industry is expected to reach USD 250.9 billion, with a 5.9% CAGR from 2019 to 2025 (forecast period). The study identifies the strengths, opportunities, challenges, and future business risks and offers an accurate analysis of the global market situation under the influence of COVID-19.
Corrugated packaging products combine cushioning with structural rigidity, offering excellent protection against fragile or heavy damage—their light and clean nature help reduce shipping costs. High-impact graphics on corrugated packaging products help to increase brand recognition, thereby helping to improve sales. In addition, corrugated packaging products are made from recycled cardboard boxes and other waste products from the paper industry. The percentage of reprocessing and recycling corrugated packaging items is also high, making them an environmentally friendly packaging option.
Market Dynamics
The global corrugated packaging industry has seen substantial growth in the packaging industry over the last few years. The growing e-commerce industry, coupled with an increase in preference for sustainable packaging solutions, has further increased global demand for corrugated packaging products. E-commerce platforms have seen enormous growth in recent years due to technological advances, which have resulted in a large online customer base for corrugated packaging products.
Furthermore, the increased application in industries such as food & beverage, personal care, pharmaceuticals, consumer goods, and electronic goods has led to the industry's overall growth. Corrugated packaging is one of the most preferred packaging for small, medium, and large products, which has boosted the global demand for these products. Growth in demand for FMCG products and branded consumer durables in developing economies such as the Asia Pacific and South America has driven manufacturers to expand their distribution network, which has further contributed to increased demand for corrugated packaging.
There are numerous government regulations which lead to restrictions on corrugated packaging, such as the packaging box, which is limited to style 201 or 204 of IS: 6481-1971, it is to have a liner (separator) from the top, bottom, and center for cushioning, to protect the fragile item during shipping, and the box used for shipping should be made of corrugated fiberboard in order to bear the weight. Owing to the growing regulation of the corrugated box industry and the rise in the price of raw materials, numerous companies have been shut down due to the inability to withstand costs.
Market Segmentation
The global market for corrugated packaging has been segmented on the basis of type, wall construction, material, and application.
By type, the global corrugated packaging industry has been segmented into rigid boxes, self-erecting boxes, telescope boxes, slotted boxes, and others. The rigid boxes segment held the largest market share in 2018, which will continue its dominance over the forecast period. This is linked to the widespread demand for these boxes across the verticals like food & beverage, pharmaceutical, and personal care industries. The telescope boxes segment has been further divided into full telescope design containers and half telescope design container. The slotted boxes segment has been further divided into regular slotted containers (RSC), half slotted containers (HSC), and full overlap slotted boxes (FOL).
By wall construction, the global corrugated packaging industry has been segmented into single-wall, double-wall, and triple-wall. The single-wall segment held the largest market share in 2018, which is expected to witness maximum CAGR during the forecast period. These sheets are cost-effective and, therefore, are extensively used as shipping cases from online merchants. They give rigidity and shock absorption for protecting the contents stored inside.
By material, the global corrugated packaging industry has been segmented into linerboard, medium, and others. The linerboard segment held the largest market share of around 32% in the overall corrugated packaging industry, which is also estimated to register a high growth rate during the assessment period. These materials are composed of natural unbleached wood fibers.
By application, the global corrugated packaging industry has been segmented into food & beverages, electronic goods, pharmaceuticals, personal care, and others. In 2018, the food & beverage segment captured the largest market share and was predicted to register a high growth rate in the global market. The increased demand for processed food products is increasing the adoption of corrugated boxes. In the food & beverage sector, corrugated boxes are used for products like liquid bottles, fruits & vegetables, ready-to-eat food, and confectionery products. Online retailing of food & beverages is also pushing corrugated boxes, mainly in emerging economies, such as China and India.
Regional Analysis
Regionally, the global corrugated packaging box market has been segmented into North America, Europe, Asia Pacific, and the rest of the world.
The Asia Pacific held the largest market share of about 35%, which is also projected to be the highest growth rate in the forecast period. This can be linked to the booming food & beverage and pharmaceutical industries in emerging economies such as India, Malaysia, Indonesia, and China, which are expected to add to the demand for corrugated packaging products in the region.
Key Players
The industry giants in the global corrugated packaging industry are Mondi Group, Smurfit Kappa Group, Georgia-Pacific LLC, International Paper, Orora Packaging Australia Pty Ltd, DS Smith, Archis Packaging (India) Pvt. Ltd, Europac Group, WestRock, and Packaging Corporation of America.
Industry News
On 27 June 2019, Smurfit Kappa Group, one of the leading manufacturers of corrugated packaging products, developed innovative e-commerce packaging for Latin American online egg vendors through eSmart. This service guarantees a minimum to no damaging of the eggs in order to scale its business across Latin America and help emerging companies drive business growth through innovative packaging.
Browse Complete Report @ https://www.marketresearchfuture.com/reports/corrugated-packaging-market-1205
About Market Research Future:
Market Research Future (MRFR) is a reliable firm that undertakes an extensive analysis of markets in various domains. Our teams of research analysts gather relevant data through painstaking primary and secondary research that aims to give clients a complete outlook on markets of their interest. The data is compared against third-party agencies and reputed organizations for estimating valuations and revenue projections.
MRFR’s goal in providing a comprehensive coverage of the market replete with latest trends, niches, developments, and insights can be lucrative for business needs. We aim to push our clients to the forefront by guiding them with astute information for making informed decisions. Our market intelligence can track down key issues in industries and be modified as per the fluctuations in economic scenarios. The reports are customized and offered as per a specific region or country and adhere to latest policies.
Read more related insights:
Contact Us:
Market Research Future
Office No. 524/528, Amanora Chambers
Magarpatta Road, Hadapsar
Pune - 411028
Maharashtra, India
+1 646 845 9312
Email: sales@marketresearchfuture.com