Corrugated Board Packaging Market 2021-2024: Growth Drivers, Business Statistics, Top Region with Share, and Revenue Analysis

Corrugated Board Packaging

The “Corrugated Board Packaging Market” Report provides a thorough examination of the market. The Corrugated Board Packaging Market research investigates how firms in the Corrugated Board Packaging Market are reacting to changing market conditions by examining major industry strategies. The report covers current top players are recognised and rated based on their market shares. It also includes data on leading manufacturers, market segmentation by types, applications, and geographic regions. Market capacity, production, consumption, sales, and revenue are all discussed in this Corrugated Board Packaging market report.

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Competitor Analysis:

Corrugated Board Packaging market covers the vision of competitor analysis by product types, market share, applications, sales and revenue. It covers the top key players like –

  • Klingele Papierwerke GmbH & Co. KG
  • Mondi Group
  • Smurfit Kappa Group
  • DS Smith PLC
  • Klabin SA
  • International Paper Company
  • Nippon Paper Industries Ltd
  • Georgia-Pacific LLC
  • Rengo Co. Ltd
  • Sealed Air Corporation
  • Cascades Inc.
  • WestRock Company
  • Oji Holdings Corporation
  • Packaging Corporation of America

    Market Overview:

  • The Global Corrugated Board Packaging Market was valued at USD 251.52 billion in 2018, and is expected to reach USD 325.59 billion by 2024, recording a CAGR of 4.41%, during the forecast period of 2019-2024. According to a report by Asia Pulp and Paper’s (APP) 2017 Paper & Packaging Consumer Trends states that as compared to five years ago, the sustainability of paper-based packaging today is much more important to almost half of the consumers (50%).
  • – Rising consumer consciousness and rising concerns by regulatory bodies regarding sustainable packaging and the cost benefits associated are encouraging the use of environment-friendly packaging products, and is driving the growth of the corrugated board packaging market. For instance, Singapore’s National Environment Agency (NEA) in July 2016 announced that it would introduce mandatory requirements for companies to adopt sustainable materials in packaging to reduce packaging waste in the next 3-5 years.
  • – Also, corrugated packaging comprises 88% of recycled content with the additional fresh fibers coming from sustainably managed forests, it is harmless rather than catastrophic. Moreover, if a corrugated box ends up in the ocean, it will be degraded within two months. Prominent e-commerce companies such as Amazon are moving towards corrugated board packaging for e-commerce packaging as it helps in controlling costs apart from offering an environment-friendly option.
  • – The corrugated board packaging market will also benefit from increased global trade and healthy economic conditions. The rising consumption in developing nations, such as Brazil, Russia, India, and China, provide strong growth prospects for the corrugated board packaging market. Recently, countries like India (State of Maharashtra) have banned the usage of plastic packaging. This is poised to drive the demand of corrugated board packaging.

    Key Market Trends:

    Processed Food Segment Expected to occupy Significant Market Share

    The demand for convenience foods is on the rise due to the busy lifestyle of people. Hence, processed food, which has a quick cooking time, attracts many consumers. The increasing population also drives the demand for processed food, which is convenient as well as healthy. According to the Bureau of Labor Statistics, the number of employed women in the United States alone has grown from 53.6 million in 1990 to 71.9 million in 2017. These factors are increasing the need to provide high-quality packaged and processed foods to customers.
    – As corrugated board packaging keeps moisture away from products and can withstand long shipping times, corrugated board packaging is increasingly being adopted by companies to offer better outcomes to customers, especially as a means of secondary or tertiary packaging.
    – Further, innovations in the domain are expanding the scope of applications for corrugated cardboard packaging. Companies such as THIMM Group developed “COOLandFREEZEâ€, a box made up of corrugated cardboard for temperature-controlled shipping that enables the joint transport of frozen, chilled and non-refrigerated products within one package.
    – This innovative packaging ensures effective insulation and the constant refrigeration of fresh products over a period of at least 36 hours. As this corrugated cardboard packaging is a more sustainable alternative to polystyrene or plastic shipping solutions, the demand for this market is expected to rise rapidly over the forecast period.

    North-America Expected to Show a Significant Growth

    North Americas robust financial position enables the region to invest heavily in advanced solutions and technologies. These advantages have provided the regional organizations a competitive edge, in the market. Moreover, the region enjoys the presence of several major corrugated board packaging vendors, such as International Paper Company (United States), Georgia-Pacific LLC (United States) and Sealed Air Corporation (United States), among others.

    – Rising awareness among consumers regarding environment-friendly products is expected to drive the demand for corrugated board packaging market in North America over the forecast period. Government initiatives for stimulating eco-friendly packaging materials coupled with the efforts from CPA (The Corrugated Packaging Alliance), a corrugated industry initiative, with the mission to encourage corrugated packaging; are providing an added impetus to the growth of this market.
    – According to Asia Pulp and Papers (APP) 2017 Paper & Packaging Consumer Trends, 51% of American consider packaging waste to be a critical environmental issue. Apart from this, e-commerce revenue across all product categories are also likely to reach USD 513 billion by 2021, which will further drive the demand for corrugated board packaging in North America. Almost 95% of the North American consumer goods are transported across the globe in corrugated boxes.
    – Many major cities such as California, New York, Washington, Maine and Massachusetts have banned the use of plastics containers and bags and several other single-use non-recyclable products that are harmful for the environment, which in turn, boost the demand for corrugated board packaging.
    – However, at a regional scenario, with food chains such as McDonald planning to use 100% recyclable packaging by 2025, manufacturers are choosing to use these opportunities to build consumer trust by proactively addressing the environmental issues than resisting to change. These factors will further augment the demand for corrugated board packaging market over the forecast period.

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    Scope of the Report:

    Corrugated board packaging is a versatile and cost-efficient method to protect, preserve, and transport a wide range of products. Attributes such as light weight, biodegradability, and recyclability, are the advantages of this packaging that make them an essential component in today’s modern life.

    The market has been segmented by End-user Industry (Processed Foods, Fresh Food and Produce, Beverages, Paper Products, Electrical Products), and Region.

    Highlighted points of Corrugated Board Packaging Market Report:

    • Varying dynamics of the Corrugated Board Packaging industry.
    • Prospective changes in sales volumes and worldwide share growth in upcoming years
    • Corrugated Board Packaging market report recognizes the key drivers of growth and challenges of the key industry players.
    • Competitors profiles along with product description, overview, and business data.
    • Complete analysis of market risks, opportunities, limitations, and growth of the market.
    • Market driving and restraining factors.
    • Delivers information on the historical and current market size and the future potential of the market.
    • Corrugated Board Packaging market report provides comprehensive analysis of the market with respect to market dynamics, competitive analysis, and upcoming trends of market.

    Key Benefits of this Corrugated Board Packaging Market report:

    • The Corrugated Board Packaging market report provides a comprehensive analysis of the current trends and future estimations in the world mining equipment market to identify the potential investment pockets.
    • The Corrugated Board Packaging market report presents information regarding key drivers, restraints, and opportunities with a detailed impact analysis.
    • Quantitative analysis of the current trends and forecasts to 2024 is provided to showcase the financial competency of the Corrugated Board Packaging market.
    • Porter’s Five Force model of the industry and SWOT analysis illustrate the potency of the buyers & suppliers.
    • Value chain analysis provides a clear understanding of the roles of stakeholders involved.

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    Detailed TOC of Corrugated Board Packaging Market Report:

    1 INTRODUCTION

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET INSIGHTS
    4.1 Market Overview
    4.2 Industry Value Chain / Supply Chain Analysis
    4.3 Industry Attractiveness – Porter’s Five Force Analysis
    4.3.1 Bargaining Power of Suppliers
    4.3.2 Bargaining Power of Buyers/Consumers
    4.3.3 Threat of New Entrants
    4.3.4 Threat of Substitute Products
    4.3.5 Intensity of Competitive Rivalry

    5 MARKET DYNAMICS
    5.1 Introduction to Market Dynamics
    5.2 Market Drivers
    5.3 Market Restraints

    6 MARKET SEGMENTATION
    6.1 End-User Industry
    6.1.1 Processed Foods
    6.1.2 Fresh Food and Produce
    6.1.3 Beverages
    6.1.4 Paper Products
    6.1.5 Electrical Products
    6.1.6 Other End-User Industry
    6.2 Geography
    6.2.1 North America
    6.2.2 Europe
    6.2.3 Asia Pacific
    6.2.4 Latin America
    6.2.5 Middle East and Africa

    7 COMPETITIVE LANDSCAPE
    7.1 Company Profiles
    7.1.1 Klingele Papierwerke GmbH & Co. KG
    7.1.2 Mondi Group
    7.1.3 Smurfit Kappa Group
    7.1.4 DS Smith PLC
    7.1.5 Klabin SA
    7.1.6 International Paper Company
    7.1.7 Nippon Paper Industries Ltd
    7.1.8 Georgia-Pacific LLC
    7.1.9 Rengo Co. Ltd
    7.1.10 Sealed Air Corporation
    7.1.11 Cascades Inc.
    7.1.12 WestRock Company
    7.1.13 Oji Holdings Corporation
    7.1.14 Packaging Corporation of America

    8 MARKET OPPORTUNITIES AND FUTURE TRENDS
    8.1 Investment Analysis
    8.2 Future Outlook

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