Corrugated and paperboard boxes market is projected to be worth USD 386.34 Billion by 2030, registering a CAGR of 7.35% during the forecast period (2022 - 2030), The market was valued at USD 264.01 Billion in 2021.
New York, United States - February 8, 2022 /MarketersMedia/ —
Corrugated And Paperboard Boxes Market Scenario
The global corrugated and paperboard boxes market is expected to attain considerable growth over the forecast period between 2017 and 2023. This was stated in a report recently released by Market Research Future (MRFR). The global market is slated to garner a decent CAGR of 4% over the forecast period as per the report.
The favorable properties of corrugated and paperboard boxes market have significantly widened its packaging applications, thereby pushing the demand for the market. Add to this, the fast-paced growth of the ecommerce industry is another driving factor for the global market. This is due to the growing need of packaging from the ecommerce industry for transporting, storing, and delivering a wide pool of products.
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Competitive Landscape
The global corrugated and paperboard boxes market include a host of new and key players. Some of the key players mentioned by MRFR are as follows:
WestRock
Georgia-Pacific Corporation
Mondi Group
Klabin S.A.
Graphic Packaging International, Inc.
International Paper Company
Oji Holding Corporation
Nippon Paper Industries Co. Ltd.
Orora Packaging Australia Pty Ltd
DS Smith Plc
Nine Dragons Paper (Holding) Limited
Smurfit Kappa Group and Cascades Inc
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Industry News
14th May, Rigid Containers announced that it has installed an all new Bahmueller TURBOX Folder Gluer after a £4m investment program in South West England of Wellington to meet the demands for sustainable corrugated packaging.
Market Segmentation
The global Corrugated And Paperboard Boxes Market segmentation is divided in terms of application, material, and product.
By material, the market segments into adhesives, paperboard, inks, waxes, and others. Among these, the paperboard segment holds the leading position and is expected to dominate the market category over the forecast period. This is due to the surging implementation of paperboard packaging across different end-user applications.
By product, the market includes folding paperboard boxes, corrugated & solid fiber boxes, set-up paperboard boxes, and others. As per the study undertaken back in 2016, the corrugated & solid fiber boxes segment was the leader of this market category and is projected to be the fastest growing segment in the coming years. A wide variety of applications of corrugated & solid fiber boxes revolves around goods & packaging and it boasts a pool of benefits in terms of distance transportation, thereby making it a highly ideal product for packaging purposes.
By application, the market is classified into food & beverages, durable goods, chemicals, paper & publishing, and others. The durable goods segment held the dominant share of the market as per the study in 2016. The segment is further anticipated to be the fastest growing application in the coming years. This is due to the massive sale of electronic goods, home-based appliances, and other electronic items.
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Regional Analysis
The global corrugated and paperboard boxes market is geographically distributed across the following regions: Asia Pacific, North America, Europe, and the Rest of the World (RoW).
Asia Pacific holds the leading position in the global market with the highest share percentage to its name. The region is further expected to grow during the forecast period at a striking pace to maintain its position at the top of the global market. The fast-paced growth of the ecommerce sector across developing economies like India and China is another key driver of the regional market. The booming disposable income of consumers in recent years has enabled a decent period of growth for the electronics industry in Asia Pacific, thereby leading to the rising demand for corrugated and paperboard boxes market.
North America is another key region in the global market for corrugated and paperboard boxes owing to the flourishing presence of the ecommerce industry in this region. Europe is another major market in the global landscape and is forecasted to garner positive growth during the review period. The growth of the market herein is due to the ban imposed on plastic packaging in various countries of Europe. This has pushed the demand for alternative packaging materials, one which has subsequently boosted the growth of the corrugated and paperboard boxes market.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
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