The global corrugated board market is anticipated to reach US$ 143.86 billion in 2023, growing at a 6.8% CAGR between 2023 and 2033. The market is expected to reach US$ 277.75 billion by 2033.
The market may experience a boost from increasing industrialization and a move towards market liberalization.
In the projected timeframe, market growth is expected to be influenced by the prohibition of plastic packaging in emerging economies like India, the surge in industrialization, and the expansion of global trade. The widespread incorporation of corrugated boards in items such as liquid bottles, fruits and vegetables, ready-to-eat food, and confectionery products is foreseen to drive the expansion of the corrugated board market.
The market is predicted to be driven over the next years by an increase in online sales as well as a growth in consumer awareness of sustainable packaging. Government regulations regulating the safety of food packaging and the desire for better packaging materials are expected to cause the market to expand in the future years.
The flourishing e-commerce sector has the potential to stimulate significant economic growth.
The e-commerce industry is experiencing robust growth due to various factors, including the surge in online shopping driven by the pandemic and the convenience of accessing a vast array of products through online retail platforms. As the demand for a diverse range of products online continues to rise, e-commerce companies are expanding their warehousing infrastructure to accommodate the increasing demand.
Corrugated boxes are now much more in demand as a result of this issue. The corrugated board market would increase significantly with the help of these points.
Get an Exclusive Sample Copy of the Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-16560
During the forecast period, it is anticipated that the market would be driven by the ban on plastic packaging in developing countries like India, rising industrialization, and expanding global trade. The widespread adoption of corrugated boards in products including liquid bottles, fruits and vegetables, ready-to-eat food, and confectionery goods is anticipated to promote the corrugated board market expansion.
Key Takeaways
- The Japan market is expected to register a CAGR of 6.7% during the forecast period.
- During the projected period, the corrugated board market in the United States accounted for approximately 19.1% of the global corrugated board industry.
- During the forecast period, Sweden’s market accounted for around 6% of the global market.
- Asia Pacific emerged as a prominent market, accounting for more than 40% of total revenue.
Market Growth Restriction Factors
The availability of low-cost alternatives to the corrugated board is impeding the corrugated board market growth. Stretch and shrink-wrap, reusable plastic packaging, and intermediate bulk packaging are more appealing, long-lasting, and cost-effective than the corrugated board.
As a result, these alternatives are stifling the demand for corrugated boards. Furthermore, rising raw material prices limit demand for corrugated boards.
Purchase this report to Uncover Segment-specific Information, Identify Key Trends, Drivers, and Challenges: https://www.futuremarketinsights.com/checkout/16560
Competitive Landscape
Key firms are investing in portfolio expansion, research and development, and strategic alliances to expand their market reach. Other growth techniques used by leading firms to expand their market position include partnerships and collaborations, agreements, expansions, acquisitions and mergers, and new product releases.
International Paper Company, West Rock Company, DS Smith Packaging Limited, Mondi Group, Nefab Group, Georgia-Pacific, Smurfit Kappa, Stora Enso, Packaging Corporation of America, and Graphic Packaging International, LLC are leading competitors in the global corrugated board market.
Recent Development
A new production line may be constructed at Mondi Group’s corrugated box production plant in Szczecin, Poland, in September 2021. As a result of the growth, this company’s packaging range may grow, and production processes may be streamlined.
Bobst, a corrugated board firm, may offered new portfolio of products and services in June 2022 to assist converters and brand owners with digitization and sustainability. Connectivity, digitization, automation, and sustainability have been promoted as the ‘four key pillars’ of the printing and packaging machinery. This assists this company in promoting its items.
Key Players
- International Paper
- Georgia-Pacific
- WestRock Company
- Packaging Corporation of America
- Stora Enso
- Oji Holdings Corporation
- Smurfit Kappa
- Port Townsend Paper Company
- Mondi
- DS Smith
Key Segments
By Flute Type:
- Flute A
- Flute B
- Flute C
- Flute E
- Flute F
By Board Type:
- Single Wall
- Double Wall
- Triple Wall
By End Use:
- Food & Beverages
- Pharmaceuticals
- Cosmetics & Personal Care
- Automotive
- Transportation & Logistics
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
