Corrugated Packaging Market Revenue Analysis & Region and Country Forecast To 2027
The global Corrugated
Packaging Market is forecast to reach USD 352.47 Billion by
2027, according to a new report by Reports and Data. Corrugated boxes are thick
paper material consisting of a compressed layer of paper pulp. It is
extensively used for packaging as its easy-to-open and reseal packaging designs
provide benefits to the end-users. Besides, it is environmentally friendly and
can be recycled. Retailers and product manufacturers also enjoy great benefits
from corrugated packaging.
These boxes are used to store and
transport products. The most important properties of paperboard, the driving
force of the market, are its recyclability, its reusability, and its
durability. Also, the growing awareness of ecological conservation makes
consumers inclined to use paperboard. Besides, high-resolution graphics and
two-sided printing of paperboard can enhance the brand promotion of products.
Therefore, various product manufacturers choose it as packaging material.
Rapid urbanization has changed the
lifestyle of the people and, in turn, has increased the prevalence of packaging
over a broad aspect, thus, augmenting the demand for the market product. The
growing awareness among customers for the sustainable packaging material with
the reusability of corrugated packaging is fostering the market demand.
However, the usage plastics due to its cost-effective, durable, and reusable
properties are hampering the market demand.
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Key participants include Mondi Group, WestRock Company,
International Paper Company, DS Smith PLC, Smurfit Kappa Group, Nine Dragons
Paper (Holdings) Limited, Georgia-Pacific Equity Holdings LLC, Oji Holdings
Corporation, Lee & Man Paper Manufacturing Ltd., and Packaging Corporation
of America, among others.
Further key
findings from the report suggest
- Rigid boxes have two similar end panels
and consists of a body that can be folded from the two side panels, a top,
and an unbroken bottom. The flaps are applicable to form the joints. Once
these joints are sealed, the box is considered to be rigid. The segment is
forecasted to grow with a CAGR of 4.0% during the forecast period.
- Single-walled boxes are designed to use
only a single layer of fluting. They are used for shipping in the
e-commerce sector. These boxes are cost-effective and can provide offer
cushioned protection as well as rigidity that is required in a shipping
container.
- The food and beverage segment is
estimated to capture a massive share of the market because of the
flourishing of the take-out food consumption and changing lifestyle
patterns of individuals. The segment held a market share of 4.7% in the
year 2019.
- The advent of the use of corrugated
packaging backed by various government awareness schemes in nations such
as India is creating a demand for the use of these boxes in the packaging
market. The Asia Pacific region is forecasted to grow with the highest
growth rate in the forecast period due to the rise in the number of people
opting for the manufacturing of paperboards.
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For the purpose of this report, Reports and
Data have segmented the global Corrugated Packaging Market on the basis of
Type, Wall Construction, Application, and region:
Type Outlook
(Revenue, USD Billion; 2017-2027)
- Self-Erecting Boxes
- Rigid Boxes
- Slotted Boxes
- Telescope Boxes
- Others
Wall Construction
Outlook (Revenue, USD Billion; 2017-2027)
- Single-Wall
- Double-Wall
- Triple-Wall
Application
Outlook (Revenue, USD Billion; 2017-2027)
- Food & Beverage
- Electronic Goods
- Pharmaceutical
- Personal Care
- Others
Over the years, mergers and
acquisitions, collaborations, and partnerships have played a pivotal role in
companies’ plans of expanding customer base and gaining a robust footing in the
market. Rising investments by the key industry players for the R&D
activities will further bolster market growth over the analysis period.
The report also utilizes key
statistical tools such as SWOT analysis, Porter’s Five Forces analysis,
feasibility analysis, and venture return analysis to offer better insights into
the market landscape. The report also covers recent developments and trends and
provides a comprehensive industry overview to help readers understand the
complete scenario and dynamics of the Corrugated Packaging market.
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Complete Report “Corrugated Packaging Market” @ https://www.reportsanddata.com/report-detail/corrugated-packaging-market
Regions covered by the report:
•
North America (U.S.A.,
Canada, Mexico)
•
Europe
(U.K., Italy, Germany, France, Rest of
Europe)
•
Asia Pacific
(India, Japan, China, South Korea,
Australia, Rest of APAC)
•
Latin America (Chile,
Brazil, Argentina, Rest of Latin America)
•
Middle East & Africa (Saudi
Arabia, U.A.E., South Africa, Rest of MEA)
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