Burlingame, July 29, 2024 (GLOBE NEWSWIRE) -- CoherentMI published a report, titled, Malaysia Corrugated Packaging Market was valued at US$ 1,715.3 Million in the year 2024, and is anticipated to reach a US$ 2,108.4 Million by 2031, with growing at a CAGR of 3.0% during forecast period 2024-2031. The adoption of sustainable packaging solutions among manufacturers has increased significantly over the past few years in Malaysia. Corrugated packaging is considered one of the most sustainable packaging material as it is made using recycled fibers and is also recyclable. It also provides durability and protects products during transport and storage. The growing focus towards reducing plastic packaging usage and adopting eco-friendly alternatives has propelled the demand for corrugated packaging in Malaysia.
Market Dynamics:
The Malaysia corrugated packaging market is driven by rising e-commerce sales in the country. E-commerce industry has witnessed significant growth in Malaysia over the past few years. According to the Malaysia Digital Association (MDA), Malaysia’s e-commerce sales grew by 72% to reach RM4.5 billion (US$ 1.08 billion) during the peak COVID-19 outbreak period in 2020 compared to the previous year. This has increased the demand for corrugated packaging for safe delivery of goods to customers. In addition, growing packaging industry in the country is also fueling the demand for corrugated packaging. Demand for consumer goods such as food & beverages, electronics, personal care products has increased substantially, which is propelling the need for packaging. This is contributing to the growth of corrugated packaging market in Malaysia.
Market Report Scope:
| Report Coverage | Details |
| Market Revenue in 2024: | US$ 1,715.3 Million |
| Estimated Value by 2031: | US$ 2,108.4 Million |
| Growth Rate: | Poised to grow at a CAGR of 3.0% |
| Historical Data: | 2019–2023 |
| Forecast Period: | 2024–2031 |
| Forecast Units: | Value (USD Million/Billion) |
| Report Coverage: | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered: | By Material Type, By Board Type, By Product Type, By End Use Industry |
| Geographies Covered: | Malaysia |
| Growth Drivers: | • Increasing Trend Towards Utilizing Lightweight Materials |
| • The Surge of Online Shopping and Innovations in Digital Printing Methods | |
| Restraints & Challenges: | • Reusable Plastic Packaging Like Stretch and Shrink Wrap With Bulk Containers |
Key Market Takeaways:
- The Malaysia corrugated packaging market size was valued at US$ 1.00 billion in 2023. The market is expected to grow at a CAGR of 6% during the forecast period of 2024-2031, owing to increasing e-commerce activities and rapid urbanization in the country.
- On the basis of product, the single corrugated segment is expected to hold a dominant position owing to its low production costs and adequate protection properties. Within the application segment, food and beverages dominated the market due to extensive usage of corrugated boxes in the packaging of food products and beverages.
- Regionally, North America dominated the Malaysia corrugated packaging market with a share of over 25% in 2023. This was due to strong presence of F&B companies and e-retailers demanding innovative and sustainable packaging solutions in the region.
- Key players operating in the Malaysia corrugated packaging market include Sarnti Packaging Co., Ltd., Toppan Printing Co., Ltd. Bobst Group SA, SCG PACKAGING., Huhtamaki Group, DS Smith Packaging, International Paper, Menasha, WestRock, Georgia-Pacific LLC, Mondi Group, Smurfit Kappa Group, Orora Packaging Australia Pty Ltd, and Archis Packaging (India) Pvt. Ltd. The players are focused on implementing sustainable packaging solutions to gain long-term growth opportunities.
Market Trends:
The Malaysia corrugated packaging market is witnessing a trend of increasing use of recycled content. With growing environmental concerns, there is a rising focus on using packaging materials made from recycled content. Major players in the Malaysia market are focusing on offering corrugated packaging with higher recycled content. For instance, packaging company Ecopak Holdings supplies corrugated packaging made from up to 100% recycled content. Growing adoption of sustainable packaging solutions is a major trend in the market. In addition, customization of packaging designs as per customer requirements is another key trend. Players are expanding their product portfolio to offer customized corrugated packaging boxes, sheets and related products to various end-use industries for enhancing brand value of products.
Recent Development:
- In June 2021, Smurfit Kappa Group LLC launched the inauguration of a new e-commerce corrugated packaging plant in the U.K. This facility tested and introduced innovative e-commerce solutions that are trustworthy ISTA certified by June 2021.
- In February 2021, Mondi may launch BCoolBox, a new product, to its sustainable e-commerce line-up, which may also contain fresh food and produce.
Read complete market research report, "Malaysia Corrugated Packaging Market, By Material Type, By Board Type, By Product Type, By End Use Industry, and other Segment Forecast 2024-2031", Published by CoherentMI.
Market Opportunities:
Single Wall Corrugated -
The single wall corrugated segment held the largest market share of around 35% in 2023. Single wall corrugated packaging offers good printability and recyclability. It provides adequate protection to low weight and less fragile products during transportation and storage. Growing e-commerce industry and popularity of single-use packaging have increased the demand for single wall corrugated packaging in Malaysia.
Food and Beverages Packaging -
The food and beverages segment accounted for over 30% of the total corrugated packaging market in Malaysia in 2023. Corrugated packaging plays a vital role in packaging, transportation, and protection of various food products as well as beverages. Growing consumption of packaged and processed food along with rising demand for on-the-go beverages have pushed the need for corrugated packaging in the country's food sector.
Malaysia Corrugated Packaging Market Segmentation:
- By Material Type
- Virgin
- Recycled
- By Board Type
- Single Face
- Single Wall
- Double Wall
- Triple Wall
- By Product Type
- Boxes
- Crates
- Octabins
- Pallets
- Others
- By End Use Industry
- Electronics and Electrical
- Home Care Products
- Food & Beverages
- Personal Care Products
- Transportation & Logistics
- Healthcare
- Others
Purchase Latest Edition of this Research Report @ https://www.coherentmi.com/industry-reports/malaysia-corrugated-packaging-market/buynow
Top Questions Answered in this Report:
- What factors are impeding the growth of the Malaysia Corrugated Packaging Market?
- What are the primary drivers fueling the growth of the Malaysia Corrugated Packaging Market?
- Which segment dominates as the leading component in the Malaysia Corrugated Packaging Market?
- Who are the key players actively participating in the Malaysia Corrugated Packaging Market?
- Which region is expected to take the lead in the Malaysia Corrugated Packaging Market?
- What is the projected CAGR of the Malaysia Corrugated Packaging Market?
Find More Trending Reports Below:
Global Pharmaceutical Glass Tubing Market: Global pharmaceutical glass tubing market is expected to reach US$ 11.2 Bn by 2030, from US$ 8.3 Bn in 2023, exhibiting a CAGR of 7.1% during the forecast period.
Plastic Crates Market: The plastic crates market size is expected to reach US$ 6.43 Bn by 2030, from US$ 3.78 Bn in 2023, at a CAGR of 7.9% during the forecast period.
South Korea Paper Packaging Market: South Korea paper packaging market is expected to be valued at US$ 14.04 Bn in 2024, and is expected to reach US$ 17.04 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 3.3% from 2024 to 2031.
About Us:
At CoherentMI, we are a leading global market intelligence company dedicated to providing comprehensive insights, analysis, and strategic solutions to empower businesses and organizations worldwide. Moreover, CoherentMI is a subsidiary of Coherent Market Insights Pvt Ltd., which is a market intelligence and consulting organization that helps businesses in critical business decisions. With our cutting-edge technology and experienced team of industry experts, we deliver actionable intelligence that helps our clients make informed decisions and stay ahead in today's rapidly changing business landscape.
