New York (US), May 15, 2023 (GLOBE NEWSWIRE) -- Corrugated Boxes Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Corrugated Boxes Market Information by Type, Wall Construction, Application, and Region - Forecast till 2030”, Corrugated Boxes Market Size was valued at USD 192.76 billion in 2021. The Corrugated boxes industry is projected to grow from USD 203.13 Billion in 2022 to USD 308.92 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.38% during the forecast period (2022 - 2030).
Market Synopsis
Corrugated boxes are made of corrugated paperboard and are commonly used for packaging and transportation of goods. The wavy middle layer provides strength and durability to the boxes, making them ideal for shipping a wide range of products. These boxes are also eco-friendly, as they are made from recycled materials and can be recycled after use.
Corrugated boxes find their application in various industries, including food and beverage, pharmaceuticals, electronics, and e-commerce. They are used for packaging and shipping products like fruits, vegetables, books, toys, and clothing, among others. Additionally, they are also used for storage and display purposes.
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Market Competitive Landscape:
The affluent companies in the Corrugated Boxes industry include
- Mondi Group
- International Paper Company
- WestRock Company
- DS Smith Plc
- Smurfit Kappa Group
- Rengo Co. Ltd
- Cascades Inc
- Packaging Corporation of America
- Georgia-Pacific
- Among others.
Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 308.92 billion |
| CAGR | 5.38% (2022-2030) |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2018 & 2020 |
| Forecast Units | Value (USD billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Dynamics | Chemicals Beverages Glassware Ceramics Food Industry Textiles Personal Care Household Products |
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November 2021
International Paper announced the launch of a new line of corrugated boxes that are 100% recyclable and made from renewable resources. The move is part of the company's efforts to reduce its carbon footprint and meet the growing demand for sustainable packaging solutions.
Market USP Covered:
Market Drivers:
The growth of the e-commerce industry is one of the significant factors driving the corrugated boxes market. The rise of online shopping has led to an increase in demand for packaging solutions that can protect goods during transportation. Corrugated boxes offer a versatile and cost-effective solution to meet this need, as they are sturdy and can be customized to meet the specific requirements of different products. Moreover, the convenience of online shopping has led to an increase in demand for home delivery services, further driving the demand for corrugated boxes.
Another factor driving the corrugated boxes market is the increasing demand for eco-friendly packaging. With growing environmental awareness and the need to reduce plastic waste, consumers are increasingly looking for sustainable packaging options. Corrugated boxes are an ideal choice for eco-conscious consumers, as they are made from recycled materials and are themselves recyclable. Moreover, they are biodegradable, which makes them an environmentally friendly choice.
Rising industrialization in developing countries is another factor driving the growth of the corrugated boxes market. As these countries continue to develop and grow their economies, there is an increasing demand for packaging materials to support their manufacturing and export industries. Corrugated boxes offer a cost-effective and reliable solution to meet this demand, making them an attractive choice for businesses looking to package and transport their products.
Market Restraints:
The corrugated boxes market faces several challenges, including the high cost of raw materials and increasing competition from alternative packaging solutions. Additionally, the market is also affected by stringent government regulations regarding the use of eco-friendly materials.
COVID 19 Analysis
The COVID-19 pandemic has brought about a significant shift in consumer behavior, with more people opting for online shopping due to safety concerns and social distancing measures. This has resulted in a surge in demand for packaging materials, including corrugated boxes, to accommodate the increased volume of e-commerce shipments. As a result, the corrugated boxes market witnessed significant growth during the pandemic.
However, the pandemic also brought about disruptions in global supply chains and labor shortages, which have affected the market's growth. Many corrugated box manufacturers faced challenges in sourcing raw materials and delivering products to their customers due to logistical challenges. Moreover, labor shortages and reduced production capacities in some regions have also led to delays and supply chain disruptions.
Post-COVID, the corrugated boxes market is expected to witness steady growth, driven by increasing demand for sustainable packaging solutions and the growth of the e-commerce industry. The pandemic has brought about a greater awareness of environmental issues, leading to an increasing demand for eco-friendly packaging materials like corrugated boxes. Moreover, with the continued growth of the e-commerce industry, there is expected to be a sustained demand for packaging solutions to accommodate the increasing volume of online shipments.
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Market Segmentation
By Type
The Type in the market includes Rigid Boxes, Self-Erecting Boxes, Telescope Boxes, Slotted Boxes, And Others.
By Wall Construction
The Wall Construction in the market includes Single-Wall, Double-Wall, And Triple-Wall.
By Application
The Application in the market includes Food & Beverages, Consumer Goods, Personal Care, Pharmaceuticals, E-Commerce, And Others.
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Regional Insights
Asia-Pacific is the largest market for corrugated boxes, driven by increasing industrialization and growing e-commerce sales. North America and Europe are also significant markets, with the demand for sustainable packaging solutions driving the market's growth. The Middle East and Africa and Latin America are also expected to witness significant growth in the coming years, driven by increasing demand from the food and beverage and e-commerce industries.
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