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Corrugated Packaging Market Size, Share and Industry Analysis Report by Products (Corrugated Box [Single phase corrugated box, Single wall corrugated box, Double wall corrugated box, Triple wall corrugated box], Folding boxboard), Printing Technique (Lithography, Flexography, Digital Printing) and End-use Industry (Food & beverages, Personal Care & Home Care, Medical, Home Appliances & Electronics, Other FMCG, Agriculture, Industrial, Chemical & Plastics, Paper & Carton), Regional Outlook, Application Growth Potential, Competitive Landscape & Forecast, 2022 – 2028

  • Report ID: GMI5246
  • Published Date: Apr 2022
  • Report Format: PDF

Industry Overview

Corrugated Packaging Market size was valued at USD 67.7 billion in 2021 and is estimated to exhibit over 4.4% CAGR from 2022 to 2028. With respect to volume, the corrugated packaging industry size may hit 294.4 billion square meters by 2028, with an anticipated CAGR of 3.8% through the forecast period.

Corrugated Packaging Market

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Recyclability, enhanced strength, durability, lightness, and cost-effectiveness are among the key factors contributing to the increasing adoption of corrugated packaging in various end-use industries.

Corrugated packaging products are manufactured from three different layers of containerboard sheets that are similar to thick paperboard. The advanced design & construction of the material imparts significant potential for its applications in a wide array of end-use industries. In addition, these packaging materials protect against moisture, which is a key factor contributing to the high consumption in food & beverages packaging. Moreover, the rapidly growing e-commerce industry is anticipated to provide a new growth engine to the corrugated packaging market in the coming years.

For instance, as per the U.S. Department of Commerce, the e-commerce industry witnessed a growth of 14.2% in 2021. The COVID-19 pandemic significantly contributed to this surge as many consumers shifted to online shopping after the outbreak of coronavirus. However, disruptions caused by the global pandemic across the value chain hampered the manufacturing capabilities, which resulted in the downfall of the global corrugated packaging market in 2020.

Corrugated box to witness the highest demand in the market

Corrugated Packaging Market Share, By Product

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The corrugated box segment is projected to maintain a dominating presence throughout the forecast timeline. In 2021, corrugated boxes represented over 80% of the demand, and the market for these boxes is expected to reach USD 75.4 billion by 2028. Corrugated cardboard is a lightweight, strong, and stiff material that is made of three layers of brown kraft paper. These boxes have a wide range of applications such as ice cream boxes, candy boxes, pizza boxes, corrugated paper rolls, corrugated shipping boxes, and many more.

Furthermore, various types of corrugated boxes are utilized including the single wall, double wall, and triple wall corrugated boxes. Among these, single wall boxes are majorly used as they are economical, offer rigidity, and provide cushioned protection, which are desirable characteristics in shipping containers.

Ease of use to fuel the adoption of flexography printing technology

Corrugated Packaging Market Share, By Printing Technique

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Among the various printing techniques used in the market, such as lithography, flexography, and digital printing, flexography finds major applications in the corrugated packaging industry. The segment is anticipated to observe a CAGR of over 4.5% through 2028 due to the ability of the technique to print easily on both rough and smooth surfaces such as corrugated and coated liners.

However, the desirable printing speeds and quick setup time render the technique ideal for printing applications in numerous industry verticals. These factors will aid the expansion of the corrugated packaging market sales during the study timeframe.

Growing demand for packaged foods to fuel the product demand

Corrugated Packaging Market Share, By End-use Industry

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Corrugated packaging has several applications in a comprehensive range of industries such as medical, food & beverage, personal care & homecare, etc. However, the food & beverages sector accounts for a major share in the global corrugated packaging market, which also registered over 43% portion of the market in 2021 and will grow with a CAGR of around 4.4% by 2028. Corrugated boxes meet the crucial criteria of providing moisture protection to the packaged in long shipments, which is augmenting the industry size.

A few other applications of corrugated boxes include pizza delivery boxes, consumer goods, retail packaging, etc. Additionally, home appliances and electronics also have a considerable share in the global corrugated packaging market.

Asia Pacific will dominate the global consumption

Corrugated Packaging Market Share, By Region

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Asia Pacific is the leading revenue-generating region in the global corrugated packaging market and accounted for 50% of the industry share in 2021 and it is likely to grow with a CAGR of 4.7% from 2022 to 2028. The high product demand in the region can be ascribed to the major developments in the regional food & beverage industry along with other sectors.

In countries, such as China and India, the concept of packaged food has progressed significantly due to evolving lifestyles, a growing inclination toward fast food, and a rising number of working professionals. Furthermore, the increasing production of consumer electronics devices and home appliances in countries, such as China, South Korea, Japan, and India, is contributing significantly to the growing market size.

Industry participants to foster growth on account of strategic initiatives

Some of the major producers of corrugated packaging solutions are All Packaging Company, Mondi Group, Danhil de México, S.A. de C.V., International Paper, Westrock Company, DS Smith, Sultana Packaging, S.A. de C.V., Celulosa y Corrugados de Sonora, S.A. de C.V. (CESCO), Packaging Corporation of America (PCA), Georgia-Pacific LLC, Evergreen Packaging LLC, Smurfit Kappa Group, Rengo Co., Ltd., Cascades Inc., and Montebello Container Company LLC, among others.

The global corrugated packaging industry consists of many players that are aggressively involved in the adoption of various strategic initiatives to strengthen their market share and gain a competitive edge in the industry. The major developments in the industry include mergers, acquisitions, production capacity expansion, and geographical expansions, among others.

For instance, in January 2021, Mondi Group acquired 90.83% shares in the Turkish corrugated packaging company – Olmuksan International Paper Ambalaj Sanayi ve Ticaret (Olmuksan). Mondi Group performed the acquisition to expand its presence in Turkey and effectively cater to the food & beverage and agricultural sectors in the region. This, in turn, will most likely spur the company’s growth in the coming years, thereby, contributing to the overall corrugated packaging market share.

The corrugated packaging market report includes in-depth coverage of the industry with estimates & forecast in terms of volume in million square meter and revenue in USD million from 2022 to 2028 for the following segments:

By Product

  • 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-use industry

  • Food & beverages
  • Personal Care & Home Care
  • Medical
  • Home Appliances & Electronics
  • Other FMCG
  • Agriculture
  • Industrial
  • Chemical & Plastics
  • Paper & Carton
  • Others

The above information is provided on a regional and country basis for the following:

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • Indonesia
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE
Authors: Kiran Pulidindi, Hiralkumar Patel

Frequently Asked Questions (FAQ) :

Global corrugated packaging market is slated to surpass USD 91.3 billion by 2028 and is projected to record more than 4.4% CAGR between 2022 and 2028.

Corrugated boxes captured more than 80% demand in the overall market in 2021 as these boxes are widely used to store ice cream, candy, pizza and are also used to make corrugated shipping boxes and paper rolls.

The food & beverage sector accounted for over 43% of the corrugated packaging industry share in 2021 and will register around 4.4% CAGR through 2028 as the products offer protection from moisture in long shipments.

Asia Pacific captured 50% of the global corrugated packaging industry share in 2021 and is expected to witness 4.7% CAGR through 2028 as the region’s food & beverage sector is expanding at a considerable rate.

Mondi Group, All Packaging Company, Westrock Company, DS Smith, Georgia-Pacific LLC, Packaging Corporation of America (PCA), Montebello Container Company LLC, and Cascades Inc., among others, are the major participants in this industry worldwide.

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Premium Report Details

  • Base Year: 2021
  • Companies covered: 11
  • Tables & Figures: 254
  • Countries covered: 19
  • Pages: 200

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