Corrugated Board Packaging Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 191.12 Billion |
| Market Size (2029) | USD 230.10 Billion |
| CAGR (2024 - 2029) | 3.78 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Corrugated Board Packaging Market Analysis
The Corrugated Board Packaging Market size is estimated at USD 191.12 billion in 2024, and is expected to reach USD 230.10 billion by 2029, at a CAGR of 3.78% during the forecast period (2024-2029).
With its robust protection against harsh handling, the corrugated board has emerged as the packaging of choice. Its durability, versatility, and stability make it a staple in the retail sector, and with the global surge in e-commerce sales, its adoption is only intensifying.
- Businesses increasingly turn to corrugated board packaging, not only for its moisture protection but also for its resilience during extended transportation. This trend is significantly pronounced as companies adopt it for secondary and tertiary packaging. The surge in demand is primarily driven by processed and perishable foods, like bread and meat products, which necessitate single-use packaging. Additionally, as people's lifestyles grow busier, the appetite for convenience foods rises.
- Crafted from pulp and paper, corrugated boards boast a recyclability edge over their plastic counterparts. The fluting medium acts as a shock absorber, safeguarding contents from external impacts. These boards can endure significant pressure, and their layered and varied-thickness flutes provide essential cushioning. The e-commerce sector has recently emerged as a dominant consumer of corrugated boards. Major players, including Amazon, utilize these boards for primary packaging while reserving plastic for individual items.
- The market also has challenges and limitations. The corrugated board lacks the durability of plastic or wooden boxes, making them less suitable for heavy items or extreme pressures. Typically, it's favored for short-term use rather than as long-term, reusable investments.
- Their versatility allows corrugated boards to be molded into various shapes, including boxes. As sustainability concerns mount, they're gradually replacing flexible plastic bags. Furthermore, their compatibility with diverse printing techniques makes them an attractive marketing tool for companies, effectively serving as mobile billboards without incurring extra marketing costs.
- Variations in the availability and pricing of raw materials, such as paper and recycled content, can influence production and pricing strategies. The paper packaging industry grapples with challenges stemming from deforestation, encompassing supply chain vulnerabilities, environmental issues, regulatory challenges, and an urgent push for sustainable innovations.
Corrugated Board Packaging Market Trends
Processed Food Segment Expected to Occupy Significant Market Share
- The corrugated board is a popular packaging choice in the processed food industry. There are many different sizes and shapes of boxes. Customers are given a well-known container to enjoy their snacking in. The consumption of cereal, crackers, and other snack foods packaged in corrugated boards spans several generations.
- The corrugated board packaging keeps moisture away 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.
- According to Jamestown Container in September 2023, corrugated food packaging is increasingly considered an eco-friendly alternative to conventional materials. Its versatility spans various food products, including fresh produce, baked goods, and frozen and canned items. The high customizability of corrugated packaging allows businesses to craft distinctive and visually appealing designs. This includes printing brand logos, product details, and other branding elements directly onto the boxes, enhancing brand recognition, and elevating product presentation.
- Corrugated board packaging is becoming a viable alternative to plastic packaging for many food products. Due to the rising accessibility of high-speed internet services and the rise of e-retail and e-commerce channels has been sparked, making it more straightforward for customers to order various kinds of processed food goods online. In addition, the generous savings and convenience it offers draw more consumers, adding to the segment's growth throughout the forecast period. These include cheese, ready-made soups, and canned fish, among others. Corrugated box packaging can be created more simply from recycled or composted materials.
- Consumers, such as millennials, are becoming more aware of the environmental impact of food packaging, production, and waste. According to a Stora Enso survey, 59% of millennials think packaging should be sustainable throughout the value chain. Demand for sustainable packaging products is a key driver in processed food packaging, positively impacting corrugated board packaging market growth.
- According to Suzanne, a Brazilian pulp and paper producer, and AFRY, a critical European engineering, design, and advisory services firm, the global consumption of paper and paperboard was expected to be 415 million tonnes in 2022. Consumption will rise further over the next decade, reaching 476 million tonnes by 2032. Packaging consumes the majority of worldwide paper and paperboard production.
Asia Pacific is Expected to Hold a Significant Share
- Asia Pacific's corrugated board packaging market is set to grow, driven by an urbanizing population and heightened awareness of eco-friendly packaging. Key industry trends include increased containerboard capacity and technological advancements. However, stringent regulations and product quality concerns could hinder this growth.
- Accelerated growth in Asia's corrugated board packaging market is fueled by a surge in demand for sustainable packaging, a booming e-commerce sector, heightened demand for electronics and personal care products, and rising per capita income amid economic development.
- Rising per capita income and shifting demographics shape China's corrugated board packaging sector, necessitating new packaging materials and processes. E-commerce giants like Alibaba are poised to drive the corrugated packaging market. The International Trade Administration reported that China dominates the global e-commerce landscape, accounting for about 50% of total transactions. With projections of online retail transactions hitting USD 3.56 trillion by 2024, this boom is set to amplify the demand for sustainable packaging solutions, bolstering sales of corrugated board packaging.
- In countries like India, China, and Japan, industries such as food and beverage, IT electronics, and home appliances, which heavily rely on corrugated boxes, are experiencing a trend of consumption upgrading. This shift in leading end-user industries is anticipated to boost the market for mid to high-end corrugated cartons.
- Additionally, the growth of the corrugated board packaging market is spurred by the availability of raw materials in Asia Pacific nations, government regulations curbing single-use plastics, and a rising number of end-use industries across these countries.
Corrugated Board Packaging Industry Overview
The corrugated board packaging market is fragmented, with numerous players such as Mondi Group, DS Smith PLC, WestRock Company, Smurfit Kappa Group, and more offering diverse solutions. These companies are innovating and rolling out eco-friendly packaging products to support sustainability. Additionally, they're unveiling tailored corrugated box designs catering to various end-user industries, seizing emerging opportunities. Furthermore, the market is seeing a flurry of partnerships and acquisitions as key players bolster their portfolios in the corrugated board packaging arena.
Corrugated Board Packaging Market Leaders
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International Paper Company
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Mondi Group
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DS Smith PLC
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WestRock Company
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Smurfit Kappa Group
*Disclaimer: Major Players sorted in no particular order
Corrugated Board Packaging Market News
- October 2024: Mondi Group, a global leader in sustainable packaging and paper production, has acquired Schumacher Packaging's corrugated converting and solid board operations in Germany, Benelux, and the UK. This move will bolster Mondi’s corrugated presence in Western Europe and introduce complementary fiber-based products, particularly in eCommerce and FMCG, enhancing its offerings to existing customers.
- January 2024: WestRock Company has unveiled plans to establish a new corrugated box plant in Pleasant Prairie, Wisconsin, catering to the surging demand from clients in the Great Lakes region. This strategic move will enable WestRock to bolster its production capabilities and enhance its cost efficiency in the Great Lakes area. The construction, projected at around USD 140 million, is anticipated to see some financial relief through property sales.
Corrugated Board Packaging Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Growing Adoption of Eco-friendly Materials and Evolution of Digital Print for Corrugated Boards
5.1.2 Strong Demand from the E-commerce Sector
5.2 Market Restraint
5.2.1 Increasing Usage of Returnable and Reusable Packaging
6. MARKET SEGMENTATION
6.1 By End-user Industry
6.1.1 Processed Foods
6.1.2 Fresh Food and Produce
6.1.3 Beverages
6.1.4 Personal and Household Care
6.1.5 E-commerce
6.1.6 Other End-user Industries (Electrical & Electronics, Healthcare, Industrial, Textile, Glass & Ceramics)
6.2 By Geography
6.2.1 North America
6.2.1.1 United States
6.2.1.2 Canada
6.2.2 Europe
6.2.2.1 United Kingdom
6.2.2.2 Germany
6.2.2.3 France
6.2.2.4 Italy
6.2.2.5 Spain
6.2.2.6 Poland
6.2.3 Asia
6.2.3.1 China
6.2.3.2 India
6.2.3.3 Japan
6.2.3.4 South Korea
6.2.3.5 Indonesia
6.2.3.6 Thailand
6.2.4 Australia and New Zealand
6.2.5 Latin America
6.2.5.1 Brazil
6.2.5.2 Argentina
6.2.5.3 Mexico
6.2.6 Middle East and Africa
6.2.6.1 Saudi Arabia
6.2.6.2 South Africa
6.2.6.3 United Arab Emirates
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 International Paper Company
7.1.2 Mondi Group
7.1.3 DS Smith PLC
7.1.4 WestRock Company
7.1.5 Smurfit Kappa Group
7.1.6 Stora Enso Oyj
7.1.7 Sealed Air Corporation
7.1.8 Asia Pulp & Paper (APP) Sinar Mas
7.1.9 Napco National
7.1.10 Georgia-Pacific LLC
7.1.11 Nine Dragons Paper Holdings Limited
7.1.12 Oji Holdings Corporation
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. FUTURE OUTLOOK OF THE MARKET
Corrugated Board Packaging Industry Segmentation
Corrugated board packaging offers a versatile and cost-efficient method of protecting, preserving, and transporting various products. Its attributes, such as lightweight, biodegradability, and recyclability, have made it an integral component in the packaging industry.
Corrugated Board Packaging Market is Segmented by End-User Industry (Processed Foods, Fresh Food and Produce, Beverages, Personal and Household Care, and E-Commerce) and by Geography (North America (United States, and Canada), Europe (United Kingdom, Germany, France, Italy, Spain, Poland, and Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Indonesia, Thailand, and Rest of Asia Pacific), Latin America (Brazil, Argentina, Mexico, and Rest of Latin America), and Middle East and Africa (United Arab Emirates, Saudi Arabia, South Africa, and Rest of Middle East and Africa)). The Market Sizes and Forecasts are Provided in Terms of Value in USD for all the Above Segments.
| By End-user Industry | |
| Processed Foods | |
| Fresh Food and Produce | |
| Beverages | |
| Personal and Household Care | |
| E-commerce | |
| Other End-user Industries (Electrical & Electronics, Healthcare, Industrial, Textile, Glass & Ceramics) |
| By Geography | ||||||||
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| Australia and New Zealand | ||||||||
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Corrugated Board Packaging Market Research Faqs
How big is the Corrugated Board Packaging Market?
The Corrugated Board Packaging Market size is expected to reach USD 191.12 billion in 2024 and grow at a CAGR of 3.78% to reach USD 230.10 billion by 2029.
What is the current Corrugated Board Packaging Market size?
In 2024, the Corrugated Board Packaging Market size is expected to reach USD 191.12 billion.
Who are the key players in Corrugated Board Packaging Market?
International Paper Company, Mondi Group, DS Smith PLC, WestRock Company and Smurfit Kappa Group are the major companies operating in the Corrugated Board Packaging Market.
Which is the fastest growing region in Corrugated Board Packaging 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 Board Packaging Market?
In 2024, the Asia-Pacific accounts for the largest market share in Corrugated Board Packaging Market.
What years does this Corrugated Board Packaging Market cover, and what was the market size in 2023?
In 2023, the Corrugated Board Packaging Market size was estimated at USD 183.90 billion. The report covers the Corrugated Board Packaging Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Corrugated Board Packaging Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What are the key drivers of the Corrugated Board Packaging Market?
Major factors driving the Corrugated Packaging Market are a) Rise in e-commerce b) Growing demand for eco-friendly packaging c) Increasing need for efficient logistics and warehousing solutions
Corrugated Board Packaging Industry Report
The global corrugated packaging industry is experiencing substantial growth, driven by increasing demand across various sectors and the surge in global e-commerce sales. This industry is essential in the retail sector, where robust packaging is necessary to protect products during transit due to the rise in online shopping. Additionally, the consumption of electronics and appliances, particularly in developed nations, has heightened the demand for corrugated packaging to protect sensitive items from shocks and external damage. The food and beverage industry also relies heavily on corrugated packaging to maintain food quality and safety over extended periods, while the medical sector appreciates its dust-free and sterile properties for transporting sensitive products.
Despite alternatives like bioplastics, the corrugated packaging industry thrives due to its eco-friendly nature, cost-effectiveness, and advanced printing capabilities. The Asia-Pacific region is seeing robust growth, driven by an expanding working population and a rising inclination towards fast foods and packaged products. For detailed statistics on market share, size, and revenue growth rate, along with a market forecast outlook and historical overview, download a free report PDF download from Mordor Intelligence™ Industry Reports on the corrugated packaging industry.
The industry report provides a comprehensive market analysis, highlighting the market trends and market growth in the sector. Industry analysis reveals the market forecast and industry overview, offering insights into the market leaders and their strategies. The market research covers the industry outlook and market segmentation, providing a detailed market review and market predictions. Industry statistics and industry trends are essential for understanding the market value and market data, ensuring an accurate industry overview.
The report example includes industry information and industry size, reflecting the industry sales and growth rate. Industry reports and industry research are crucial for understanding the market outlook and market review. The report PDF is a valuable resource for research companies, offering a detailed market forecast and market overview. The market segmentation and market value are key components of the report, providing insights into the industry's future.
Corrugated Board Packaging Market Report Snapshots
