Corrugated & Paperboard Boxes Market Size
| Study Period | 2024 - 2029 |
| Market Volume (2024) | 195.40 Million metric tons |
| Market Volume (2029) | 248.47 Million metric tons |
| CAGR (2024 - 2029) | 4.92 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Corrugated & Paperboard Boxes Market Analysis
The Corrugated & Paperboard Boxes Market size is estimated at 195.40 Million metric tons in 2024, and is expected to reach 248.47 Million metric tons by 2029, growing at a CAGR of 4.92% during the forecast period (2024-2029).
- The corrugated and paperboard box market has been developed. Still, there are opportunities for gains, especially in the rise of box features, to account for more direct-to-consumer applications and maintain sustainability.
- Corrugated and paperboard boxes are utilized in the packaging and transportation of a wide variety of products and have become immensely significant in recent years due to the accelerated growth of the e-commerce industry, which is anticipated to remain a principal driving factor for the global corrugated and paperboard boxes market, as it requires corrugated and paperboard boxes for carrying and storing the wide variety of products it handles.
- Also, corrugated packaging covers 88% of recycled content with added fresh fibers originating from sustainably managed forests, so it is safe rather than catastrophic. Notable e-commerce businesses like Amazon are pushing towards corrugated board packaging for e-commerce packaging as it aids in controlling costs and gives an environment-friendly option.
- While the food and beverage industry ranks as one of the biggest established end-user application sectors for corrugated and paperboard boxes, future growth is anticipated from other developing fields, such as electronic products and accessory packaging. Asia-Pacific serves the most comprehensive and fastest-growing market globally, led by factors such as rising economies, increasing disposable incomes, and enhanced consumption of manufactured goods. Although the number of corrugator plants has declined by nearly 200 since 1992, the total production levels have increased by over 500 million square feet in the whole yearly production at a similar time (Fibre Box Association).
- Corrugated board packaging is an adaptable and cost-efficient solution to protect, preserve, and transport a range of products. The corrugated packaging features include light weight, biodegradability, and recyclability. It is the preferred option in the packaged food market and can be found in various end-user industries, such as food, beverage, soups, seasonings, and dairy products. Compared to different packaging materials such as glass and metal, it helps reduce and protect the final product's total weight and protect it.
- Consumers are becoming more aware of the environmental hazards of packaging and are moving their purchasing practices to more eco-friendly options. With the growing consumer and government pressure, it becomes necessary for companies to make their packaging and processes more environmentally friendly. Individuals are ready to pay more for environmentally friendly packaging. Thus, the demand for corrugated packaging is growing.
- The need for green packaging materials, particularly paper packaging solutions, is further fueled by the enforcement of strict legislation regarding the ban on single-use plastic. In addition, the increasing use of e-commerce platforms in the region is owing to the growth of a tech-savvy population that is increasingly embracing the convenience and affordability of online shopping.
Corrugated & Paperboard Boxes Market Trends
Food and Beverage Expected to Hold Significant Market Share
- Amongst end-user applications, food and beverage is the principal end-user segment of the corrugated and paperboard boxes market and are anticipated to advance at a fast speed in the forecast period. The food and beverage industry majorly utilizes coated, unbleached boards for packaging beverages and corrugated container boards for packaging vegetables, fruits, and food products. The accelerated demand for frozen foods is possible to push the demand for folding carton packaging.
- Alterations in lifestyle and a budding young population lead to a greater demand for branded and packaged substances. According to the Flexible Packaging Association, the beverage sector in the United States is valued at nearly 50% of the packaging market. Over 30% of Americans order meals twice a week, which is anticipated to grow to 3% in the coming years.
- Within the market, the food and beverage segment is quickly expanding segment. Because of people's hectic lifestyles, convenience foods are in high demand. As a result, processed food, which takes less time to prepare, attracts a growing number of consumers. The ever-increasing population drives the desire for processed food, which is both convenient and healthy.
- Consumer preferences are shifting toward more convenient and ecologically friendly products, the food industry is growing, and there is a growing need for sustainable packaging solutions. A popular option for the food sector is corrugated board packaging because of its strength, adaptability, and recyclable nature.
- Customers and companies are becoming more conscious of how packaging affects the environment. More people choose corrugated boards over plastic and other nonsustainable materials because they are recyclable and biodegradable. As corrugated paperboard packaging keeps moisture from products and can withstand long shipping times, companies are increasingly adopting this packaging to offer better customer outcomes, especially for secondary or tertiary packaging. Processed foods, such as bread, meat products, and other perishable items, need these packaging materials to be used just once, thus driving the demand.
- Furthermore, on-the-go consumption in countries like China, Japan, India, and Australia further feeds the demand. The use of environmentally friendly packaging solutions is encouraged by Australian regulations that support sustainability and reduction in plastic waste by 2025. For instance, all packaging is to be recyclable, reused, or compostable, according to the National Packaging Targets.
- According to the Australian Bureau of Agricultural and Resource Economics and Sciences, Australia, Canada, Germany, and France are among the world's most food-secure countries. About 20% of domestic manufacturing and service revenue comes from the food industry. Australian farmers grow and supply the great bulk of the food market in this country.
- In countries such as India and China, the demand for food and beverages is always high. This consequently drives the paperboard packaging market. Such assertive growth in the food and beverage industry is supposed to boost the need for paperboard packaging throughout the forecast period.
Asia-Pacific Expected to Have Significant Growth
- Asia-Pacific is supposed to have significant growth. The growing number of manufacturing plants all over the region, combined with the increasing consumerism and transit packaging sector in the APAC region, is adding to the growth of the corrugated and paperboard boxes market. Due to the growing demand for paper pulp in developing countries such as China and India, the region is anticipated to be the fastest-growing region. There is an addition to the transit packaging sector in China, combined with increasing consumerism, leading to a quickly expanding demand for paper packaging.
- Corrugated and paperboard boxes market demand in the region has been expanding at a rate of 6.5% since 2008, far greater than anywhere else in the world. Along with this requirement for paper packaging, the need for recycled paper is also growing.
- The collaborative initiative of retail businesses and e-commerce fulfillment partners in the country to improve customer experience further augments e-commerce growth among the larger population due to the best customer services driving e-commerce growth and, ultimately, the requirement for corrugated board packaging required for shipping online orders.
- For instance, in January 2024, Australia Post Corporation and Myer, an online Jewellery retailer, strategically partnered to improve Myer’s online customer experience, covering most of Myer’s online orders. The comprehensive partnership also includes Australia Post’s Metro Service, which offers next-day delivery for Myer e-commerce customers in metropolitan Melbourne, Sydney, Brisbane, and the Gold Coast. During the past 12 months, Australia Postal Corporation delivered more than five million parcels for Myer.
- According to the United States Department of Agriculture (USDA), Foreign Agricultural Service, July 2023 Report, Thailand is Southeast Asia's second-largest economy. It remains a strong agricultural competitor and is a major exporter of rice, sugar, canned tuna, canned pineapples, natural rubber, frozen shrimp, cooked poultry, and cassava. Thailand is also the 20th largest export of US agricultural products.
- Moreover, the evolving technology environment, increasing use of smartphones and social media, and changes in the region's traditional online shopping through e-commerce are driving significant growth. More and more business owners and entrepreneurs are setting up social media stores to trade and sell through social media platforms.
- This exponential growth in online shopping across the region is driving demand for corrugated board packaging like corrugated boxes, which are the preferred packaging material owing to their durability and cost-effectiveness. The convenience of online shopping and the ability to shop 24/7 has led to more frequent and smaller orders requiring their own packaging, further driving demand for corrugated packaging.
- There is an escalating rate of exports in the developing logistics sector as corrugated boxes are supposed to dominate the market in this region. Due to sound growth in sectors like (FMCG) and cosmetics, the fast-growing middle-class population is anticipated to boost the demand for the corrugated and paperboard boxes market in the region.
Corrugated & Paperboard Boxes Industry Overview
The market for corrugated and paperboard boxes is fragmented and consists of several major players. In terms of market share, few of these major players currently dominate the market. The level of engagement among the vendors will strengthen in the years to come due to limited product differentiation and the underpricing strategy of the regional and local players. Various inorganic growth strategies are witnessed in the market by several players, including acquisitions, partnerships, and collaborations. These exercises have paved the way for augmentation of the business and customer base of market players.
- November 2023: Visy Industries, a privately owned Australian-American paper, packaging, and recycling company, opened a new advanced corrugated box factory in Hemmant, Australia. The company invested AUD 175 million (USD 111 million) in the new factory to manufacture up to one million boxes per day. The factory supplies cardboard boxes to food and beverage companies, farmers, and growers in Queensland.
- November 2023: Opal Packaging, a paper packaging provider, has opened its new high-tech corrugated cardboard packaging facility in Wodonga with an investment of USD 140 million. The new facility has the capacity to produce 400 tons of printed and finished corrugated boxes every day.
Corrugated & Paperboard Boxes Market Leaders
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International Paper
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WestRock Company
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Smurfit Kappa Inc
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DS Smith Plc
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Graphic Packaging International Inc
*Disclaimer: Major Players sorted in no particular order
Corrugated & Paperboard Boxes Market News
- June 2024: Froosh introduced a line of new smoothies packaged in 750ml cardboard containers. These innovative packages boast a significantly reduced carbon footprint, up to 82% smaller than equivalent-volume glass bottles.
- February 2024: Schubert, a provider in the packaging industry, introduced Dotlock, a groundbreaking technology that revolutionized automated packaging. Dotlock enabled the production of glue-free cardboard packaging, setting a new standard for sustainability. This innovation benefits brand owners, confectionery, and snack manufacturers and resonates with environmentally-conscious consumers.
Corrugated & Paperboard Boxes Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Growth in E - commerce Sales
4.3.2 Growing Consumer Awareness on Paper Packaging
4.4 Market Restraints
4.4.1 Availability of High-performance Substitutes
4.4.2 Rising Operational Costs
4.5 Industry Attractiveness - Porter's Five Force Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Product
5.1.1 Corrugated and Solid Fiber Boxes
5.1.2 Folding Paperboard Boxes
5.1.3 Set-up Paperboard Boxes
5.1.4 Other Products
5.2 By End-user Industry
5.2.1 Food and Beverage
5.2.2 Durable Goods
5.2.3 Paper & Publishing
5.2.4 Chemicals
5.2.5 Other End-user Industries
5.3 By Geography
5.3.1 North America
5.3.2 Europe
5.3.3 Asia-Pacific
5.3.4 South America
5.3.5 Middle East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles*
6.1.1 International Paper Company Inc.
6.1.2 WestRock Company
6.1.3 Smurfit Kappa Inc.
6.1.4 DS Smith PLC
6.1.5 Graphic Packaging International Inc.
6.1.6 Mondi Group
6.1.7 Georgia-Pacific LLC
6.1.8 Cascades Inc.
6.1.9 Klabin SA
6.1.10 Oji Holding Corporation
6.1.11 Nine Dragons Paper (Holding) Limited
6.1.12 Packaging Corporation Of America
6.1.13 Nippon Paper Industries Co. Ltd
6.1.14 Orora Packaging Australia Pty Ltd
6.1.15 Rengo Co. Ltd
7. INVESTMENT ANALYSIS
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
Corrugated & Paperboard Boxes Industry Segmentation
Corrugated and paperboard boxes are crimped cardboard layers, also known as fluting, and jammed between two thin outer layers. Corrugated boxes are obtainable in numerous shapes and sizes. They are widely used in packaging diverse commodities such as dangerous chemicals, foods, beverages, cosmetics, pharmaceuticals, and other substances. These boxes are the preferred means of packaging as they possess great strength, long durability, appealing artistic value, light-weightiness, recyclability, and cost-effectiveness.
The corrugated and paperboard market is segmented by product (corrugated and solid fiber boxes, folding paperboard boxes, set-up paperboard boxes, and other products), by end-user industry (food and beverage, durable goods, paper and publishing, chemicals, and other end-user industries), by geography (North America, Europe, Asia-Pacific, South America, and Middle East and Africa). The market sizes and forecasts are provided in terms of volume (metric tons) for all the above segments.
| By Product | |
| Corrugated and Solid Fiber Boxes | |
| Folding Paperboard Boxes | |
| Set-up Paperboard Boxes | |
| Other Products |
| By End-user Industry | |
| Food and Beverage | |
| Durable Goods | |
| Paper & Publishing | |
| Chemicals | |
| Other End-user Industries |
| By Geography | |
| North America | |
| Europe | |
| Asia-Pacific | |
| South America | |
| Middle East & Africa |
Corrugated & Paperboard Boxes Market Research FAQs
How big is the Corrugated & Paperboard Boxes Market?
The Corrugated & Paperboard Boxes Market size is expected to reach 195.40 million metric tons in 2024 and grow at a CAGR of 4.92% to reach 248.47 million metric tons by 2029.
What is the current Corrugated & Paperboard Boxes Market size?
In 2024, the Corrugated & Paperboard Boxes Market size is expected to reach 195.40 million metric tons.
Who are the key players in Corrugated & Paperboard Boxes Market?
International Paper, WestRock Company, Smurfit Kappa Inc, DS Smith Plc and Graphic Packaging International Inc are the major companies operating in the Corrugated & Paperboard Boxes Market.
Which is the fastest growing region in Corrugated & Paperboard Boxes Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Corrugated & Paperboard Boxes Market?
In 2024, the Asia Pacific accounts for the largest market share in Corrugated & Paperboard Boxes Market.
What years does this Corrugated & Paperboard Boxes Market cover, and what was the market size in 2023?
In 2023, the Corrugated & Paperboard Boxes Market size was estimated at 185.79 million metric tons. The report covers the Corrugated & Paperboard Boxes Market historical market size for years: . The report also forecasts the Corrugated & Paperboard Boxes Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Corrugated & Paperboard Boxes Industry Report
Statistics for the 2024 Corrugated & Paperboard Boxes market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Corrugated & Paperboard Boxes analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
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