Corrugated Boxes Market

Corrugated Boxes Market Size (2023-2028)

The corrugated boxes market was worth $ 65.55 billion in 2022 and is predicted to increase up to $ 81.89 billion by 2028, with a CAGR of 3.09% during the outlook period.

Corrugated cardboard boxes are made of corrugated cardboard that consists of columns of air in a row, which makes it stronger than the average cardboard because the air acts as a cushion for any item within the box. Corrugated cardboard boxes are generally employed as shipping containers in the food and beverage industry for the delivery of various items due to their properties such as strength, durability, lightness, recyclability, and cost-effectiveness.

Worldwide, the market for corrugated cardboard boxes is growing in the food and beverage and e-commerce industries. The escalating call for corrugated cardboard boxes in the food industry due to the quality and safety of the packaging elements is a major factor that is supposed to drive the expansion of the global corrugated boxes market during the foreseen period. In addition, the escalating call from the packaging industry coupled with the expansion of electronics, logistics, and other industries, in turn, increases the call for corrugated boxes. This is another factor that should drive the expansion of the corrugated boxes market in the coming years. Additionally, the escalating adoption of corrugated cardboard boxes, as they can be recycled and reemployed, is one of the factors likely to drive potential long-term business expansion.

Corrugated Boxes Market Trends:

Asia-Pacific is estimated to be the fastest-growing region in the corrugated boxes market during the forecast period. The expansion of the corrugated boxes market in this region is driven by factors such as the expansion of the food and beverage industry, the escalating call for packaged products, and economic development.

Recent Developments in the Corrugated Boxes Market:

• Domino launches a new business model for the production of corrugated cardboard boxes.
• Fantastapack launches a new range of corrugated cardboard wine boxes for the retail trade as they are proving to be the most sought-after packaging during the pandemic. They are also known to be safe, recyclable, and attractive.

Corrugated Boxes Market Drivers:

The worldwide corrugated boxes market has seen tremendous expansion in the packaging industry due to the rapid expansion of the electronics industry, coupled with the boom in the e-commerce industry over the course of the past few years. Today, consumer electronics is the best-selling category due to the increase in the number of electronic models online. The electronics industry is constantly evolving with new developments. Due to the increased penetration of the Internet and mobile devices, there has been an increase in the acceptance of online payments and a favorable demographic, which has given companies in the electronics industry the opportunity to connect with their customers. The burgeoning e-commerce industry, coupled with a growing preference for sustainable packaging solutions, has further increased the call for the corrugated boxes market worldwide. The growing need for branded FMCG products and consumer durables in emerging economies such as Asia-Pacific and South America has pushed manufacturers to expand their distribution network, leading to an increased call in the corrugated boxes market.

Corrugated BoxesMarket Restraints:

The availability of cheap substitutes and the high cost of raw materials can hamper the call for corrugated boxes and restrict the expansion of the target market during the conjecture period.

Opportunities in the Corrugated Boxes Market:

The e-commerce business has seen significant expansion in recent years due to technological innovations, which have resulted in a large online customer base for corrugated boxes. Also, the growing segment of applications such as food and beverage, personal care, pharmaceuticals, consumer goods, and electronics has played a significant role in the overall expansion of the market. Corrugated cardboard boxes are one of the most popular packagings for small, medium, and large products, which has increased the call around the world. The growing call from the e-commerce industry is supposed to create a lucrative opportunity for expansion in the corrugated boxes market during the projection period.

CORRUGATED BOXES MARKET REPORT COVERAGE:

Corrugated Boxes Market Segmentation:

By Type:

• Rigid Boxes

• Self-Erecting Boxes

• Telescope Boxes

• Slotted Boxes

• Others

The rigid boxes accounted for the largest market share in 2020, which will continue to dominate through the end of 2026. This is attributed to the widespread call for these boxes in verticals such as the food and beverage, beverage, pharmacy, and personal care industries.

By Wall Construction:

• Single-Wall

• Double-Wall

• Triple-Wall

The single-walled segment accounted for the largest share in the corrugated boxes market in 2020, which is predicted to experience a maximum CAGR during the forecast period.

By Application:

• Food & Beverages

• Electronic Goods

• Pharmaceuticals

• Personal Care

• Others

In 2020, the food and beverage segment had the dominant share in the corrugated boxes market, which is also likely to experience the highest expansion rate in the worldwide market. Increased call for processed food products is leading to increased adoption of corrugated boxes. Online food and beverage retailing is also driving the use of corrugated boxes, mainly in emerging economies such as China and India.

Corrugated Boxes Market Regional Analysis:

The Corrugated Boxes Market Report includes the segmentation of Regions:

• North America 
• Europe 
• Asia Pacific
• Latin America 
• Middle East & Africa 

Asia-Pacific Corrugated Boxes Market accounted for the largest share in the global corrugated boxes market at around 52%, which is also predicted to experience the fastest expansion rate during the outlook period. This can be attributed to the boom in the food and pharmaceutical industry in emerging economies such as India, Malaysia, Indonesia, and China, which is predicted to contribute to the call for corrugated boxes in the region. Additionally, the steady expansion of the e-commerce industry in the Asia Pacific region offers a potential opportunity for the corrugated boxes market to prosper during the foreseen period.

North America Corrugated Boxes Market has the highest market share of the corrugated boxes market and the region is also predicted to maintain its dominance during the foreseen period. The rapid expansion of the e-commerce industry, low cost, escalating consumption of packaged products, and better product protection are the main drivers of the region in the worldwide market. Additionally, the recent acquisition of Kapstone Paper and Westrock Company will enhance market expansion in the United States. Many producers are preparing to increase their manufacturing capabilities due to escalating calls from various end-use industries. This is supposed to accelerate the expansion of the worldwide corrugated boxes market during the foreseen period.

The Asia Pacific corrugated boxes market represents a significant part of the worldwide market in terms of revenue. The increase in corrugated box applications in the food processing and electronics industries in the countries of the region is supposed to drive the expansion of the market in Asia-Pacific during the prediction period. The Asia-Pacific region will grow at a significant rate in the target market over the next few years, due to the expansion of the textile and home and personal care products industries. China, India, and Japan are determined to have a significant share in terms of revenue from the target market during the calculated period.

Impact of COVID-19 on the Corrugated Boxes Market:

The global corrugated boxes industry is facing a number of challenges in dealing with the impact of the coronavirus pandemic. Before COVID-19, companies were making rapid progress toward their sustainability goals. However, the coronavirus pandemic has severely affected many companies around the world, mainly the packaging industry. Packaging companies offered innovative technologies that were environmentally friendly, reusable, and biodegradable. But concerns about the health and safety of reusable packaging have temporarily halted the packaging industry's progress toward a sustainable circular supply chain. Specific areas of the packaging industry that have been affected include the rise of digital printing, consumer preferences, e-commerce, new or growing concerns about consumer health and safety, redefining sustainability and the increase in the single use of plastics, and the lifting of bans. In the wake of the pandemic, packaging companies will need to rebalance sustainability goals that incorporate better hygiene, standardize e-commerce, and factor in the cost of products.

Corrugated Boxes Market Key Players:

The corrugated boxes ecosystem comprises companies such as

• Mondi Group Plc (South Africa)
• International Paper Company (U.S.)
• WestRock Company (U.S.)
• DS Smith Plc (U.K.)
• Smurfit Kappa Group (Ireland)
• Rengo Co. Ltd. (Japan)
• KapStone Paper and Packaging Corporation (U.S.)
• Cascades Inc. (Canada)
• Packaging Corporation of America (U.S.)
• Georgia-Pacific LLC (U.S.)