Home > Pressrelease > Corrugated Packaging Market size to exceed $100Bn by 2032
Corrugated Packaging Market size to exceed $100Bn by 2032
- Published Date: November 28, 2022
Corrugated Packaging Market size is projected to reach over USD 100 billion by 2032, as per a recent research report announced by Global Market Insights Inc.
Robust demand for healthcare services during the COVID-19 outbreak is a major reason driving the use of cardboard box packaging for over-the-counter medications and devices. In times of global uncertainty and lockdowns, this sustainable healthcare packaging solution also made it possible to deliver life-saving medical equipment globally. With the growing burden of lifestyle diseases and investments in healthcare research, the reliance on corrugated shipping solutions will increase, as manufacturers strive to address the need for temperature-sensitive medications and other supplies.
Folding boxboard corrugated packaging emerges as a key alternative to plastic packaging
Corrugated packaging market share from the folding boxboard product segment is set to depict over 3.5% CAGR through 2032, owing to its lightweight nature. This packaging material typically has three layers or more. Advanced technologies enable mills to use lighter pulps in the middle layer of boxboards, resulting in an overall reduction of the product’s weight. As per the report, folding cartons have also emerged as a viable replacement for plastic products, further promoting the use of these corrugated packaging solutions.
Durability & high resolution to drive corrugated packaging production via lithography printing
Corrugated packaging market from the lithography printing technique is expected to reach over USD 36 billion by 2032. This is a result of the increasing dependence of manufacturers on high-quality printed packaging to gain customer attention and a competitive edge for businesses. Litho-laminated packaging can offer exceptional detail, bright colors, a high level of definition, and accurate reproduction of photographic imagery. Other attributes including durability, waterproofing, and scratch resistance will also amplify the use of lithography printing in the production of corrugated boxes.
Moisture-resistant features to promote corrugated packaging use in food & beverage shipments
Food & beverages end-use segment will be valued at over USD 45 billion by 2032. These boxes are gaining traction as a preferred packaging to protect food products against moisture during long shipments. Due to favorable features such as sustainability, these packaging products are also used extensively in retail packaging, consumer goods, food delivery boxes, and other applications. The report cites that the ability to minimize food spoilage, customization, durability, and other characteristics will thus bolster product consumption in food and beverage applications.
Browse key industry insights spread across 275 pages with 427 market data tables & 19 figures & charts from the report, “Corrugated Packaging Market Size, 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), By End-use Industry (Food & beverages, Personal Care & Home Care, Medical, Home Appliances & Electronics, Other FMCG, Agriculture, Industrial, Chemical & Plastics, Paper & Carton), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Landscape & Forecast, 2023 – 2032” in detail along with the table of contents:
Rise in online sales to escalate corrugated package consumption in Europe
Europe corrugated packaging market is poised to depict over 3% CAGR through 2023-2032, on account of the rise of e-commerce. Based on the Ecommerce Europe and EuroCommerce report, in 2021, online sales grew by 13% in the region. This factor, alongside the mounting demand for personal care and home care products, will boost the consumption of corrugated packaging boxes. Moreover, government bodies have introduced strict environmental norms in the region, thus promoting the use of recyclable corrugated packaging materials over conventional plastic-based products.
Product portfolio expansion strategies to strengthen the industry landscape
Some of the prominent players profiled in the report include Packaging Corporation of America (PCA), Mondi Group, DS Smith, S.A. de C.V. (CESCO), Celulosa y Corrugados de Sonora, Smurfit Kappa Group, Rengo Co., Ltd., Evergreen Packaging LLC, and Montebello Container Company LLC, among others. These companies are focusing on product range expansions and other developments to boost their presence in the industry.