South East Asia Corrugated Packaging Market Size (2024 - 2029)

South East Asia Corrugated Packaging Market Analysis

The Southeast Asian Corrugated Packaging Market is expected to register a CAGR of approximately 4% during the forecast period (2021 - 2026). According to International Corrugated Case Associations, the Asia-Pacific region represents the most significant and fastest-growing corrugated packaging market globally, accounting for 53.7% of production and shipments in 2018. The southeast Asian countries, such as Indonesia, Thailand, Vietnam, and the Philippines, contributing to more than 30% of corrugated packaging.

• The reason for accelerated growth of the corrugated packaging market in the South East Asian region is an increase in environmental awareness by urban populations, demand for sustainable packaging, demand for convenient packaging (offset by new restrictions on single-use in some countries), growing E-commerce market, rise in the need for electronic goods and home and personal care products along with economic development and increasing per capita income.
• Furthermore, e-commerce firms have benefited from additional savings by using corrugated board-based packaging. According to a study, the corrugated board can achieve savings from 7% - 36%. This depends on the box size and can manufacture boxes with a 30% greater stacking strength and crush resistance while using lighter-weight materials for the bottom panel of the box.
• Moreover, the rising penetration of the E-commerce sector in the South East Asian countries such as Indonesia, Thailand, and Singapore, is paving the way for corrugated packaging in the region. For instance, according to CLSA, the number of online shoppers in Indonesia will increase from 20 million in 2017 to 65 million in 2021.
• With the outbreak of COVID-19, the demand for corrugated board packaging in the region is witnessing significant growth due to transport packaging flowing of essentials products such as packaging for food and other consumer products, medical and pharmaceutical products, tissue and hygiene products.
• But the Covid-19 has postponed many financial and non-financial related activities of the Corrugated packaging firms in the region. For instance, Thailand's SCG Packaging has postponed its USD 1 billion initial public offerings (IPO) due to the coronavirus Covid-19 outbreak rattling global financial markets.

South East Asia Corrugated Packaging Industry Segmentation

• Corrugated board packaging is a versatile and cost-efficient method to protect, preserve, and transport a wide range of products. Attributes, such as light-weight, biodegradability, and recyclability, are the advantages of this packaging that make it an essential component in modern life.
• The market has been segmented by the end-user industry (Food and Beverage, Cosmetics and Household Care, Manufacturing and Automotive, Healthcare and Pharmaceutical, Other End-User Industry (Electrical and Electronics, Others)
• The study also covers the impact of COVID-19 on the market.