Corrugated Packaging Market Share to Reach USD 290 billion by 2026: Facts & Factors

According to the Facts and Factors, Research Report, global corrugated packaging market in 2019 was above USD 240 billion. The market is expected to grow around a CAGR of 4% and is anticipated to reach over USD 290 billion by 2026.

Corrugated board or fiberboards is made of two main components such as linear and medium. The linear is the combination of two sheets of paper, it is flat material and contain outer surface. The medium is some special structure that is flutes or arches. Such three layers of paper are assembled in a manner that gives a stronger strength to the overall structure than that of each separate sheet. This construction of boards possesses the ability to support weight. This structure provides rigidity and resistance to the corrugated board. The flutes allow air circulation which acts as an insulator and provides protection over different temperatures. Corrugated boards can be cut and fold into different types of shapes and sizes for corrugated packaging. Corrugated is a high-performance packaging material manufactured for the packaging, safety, and promotion of goods.

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Compared to other packaging solutions the corrugated packaging possesses the highest recycling rate, for many industries such as food and beverages, electronic, transport, etc the corrugated packaging is cost-effective packaging solutions. Corrugated boards are made of natural material. The increasing demand for eco-friendly material for packaging and government regulations towards the environment is encouraging the use of corrugated packaging material for sustainable production, thus enhancing the growth of the corrugated packaging industry. Moreover, rapid industrialization in the developing and developed countries and increasing demand for corrugated boards from various e-commerce industries is driving the market growth. However, corrugated packaging is not suitable for liquid material. Due to low abortion containing property, it carries chances of product leak. Furthermore, humidity in weather decreases the strength and firmness of corrugated boards. These factors may restraints the market growth. Conversely, increasing demand for corrugated packaging due to its features such as lightweight, recyclability, and excellent strength, high adoption of the corrugated packaging from e-commerce industry, hypermarket and supermarket may surge the market growth.

By Application segmentation, the processed food category is expected to contribute the largest market share in the global corrugated packaging market attributed to secure packaging and it provides convenience at the time of transportation.

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On the basis of box type segment, the rigid box category led the market in 2019 and it is anticipated to grow in the future years attributed to growing use of rigid box in the e-commerce sectors as well as various business sectors. By wall construction type, in 2019 the single-wall category headed the market owing to its wide use by online merchant for shipping purpose. It is cost effective and provides protection to content which is stores inside.

By geography, in 2019, the Asia Pacific region dominated the market for the corrugated packaging owing to consumption of the corrugated packaging for various business purposes growing.

Top key players operating in the market are DS Smith Plc, Smurfit Kappa Group Plc., Holmen AB, Georgia-Pacific LLC, MeadWestvaco Corporation, Nine Dragons Paper (Holdings) Ltd., Bio Pappel S.A.B. de C.V., OJI Holding Corporation, International Paper Company, Weyerhaeuser Company, Vinda International Holdings Ltd., Lee & Man Paper Manufacturing Ltd., Svenska Cellulosa Aktiebolaget, Mayr-Melnhof Karton AG, Sonoco Products Company, Amcor Ltd., Stora Enso Oyj, Mondi Plc, Newark Group and Nippon Paper Industries Co. Ltd., and others.

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