US Corrugated Box Packaging Market: Innovations, Growth Drivers, and Industry Trends

The United States corrugated box packaging market is highly developed and competitive, with many well-established companies operating in the sector. Some of the largest players in the industry include International Paper, Tetrapak, Reynolds Group, Ball Corporation, and Owens-Illinois, among others.

As one of the largest consumers of packaging in the world, the United States is home to many innovative and efficient packaging solutions, as companies strive to meet the increasing demand for sustainable and eco-friendly packaging options. With advances in technology and materials, the industry is also evolving rapidly, with new packaging solutions emerging all the time.

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► FMCG is a Major Contributing Factor
The growth of the FMCG market and the increasing demand for packaging in the processed food, personal care, and pharmaceutical industries has certainly contributed to the expansion of corrugated manufacturing facilities in the country. It's also worth noting that corrugated packaging is known for its durability, versatility, and eco-friendliness, making it a popular choice for many businesses.

► Trade Facts
Cartons, boxes & cases, of corrugated paper or board ranked 339th most traded product globally with total trade volume of USD 11 billion. Exports of cartons, boxes, and cases made of corrugated paper or board increased from USD 8.7 billion to USD 11 billion between 2020 and 2021, indicating a 26% increase. Cartons, boxes, and cases made of corrugated paper or board account for 0.00052% of all goods traded globally.

► Expanding E-Commerce Industry
The rise of first-time online buyers and the adoption of a digital-first strategy are driving the boom in the e-commerce transactions that has created further growth opportunities for the corrugated industry. First-time online buyers have increased significantly as a result of social estrangement. The Amazon Prime Day highlighting the value of online retail sales to the modern economy. The shipping boxes used by Amazon and other retailers reflect e-commerce, and they are also one of the main drivers of corrugated packaging demand increase in the United States.

► Mergers & Acquisitions
The global corrugated packaging industry has seen significant merger and acquisition activity in recent years. Some of the notable mergers in this industry include:
• Smurfit Kappa and Mondi: In 2021, Smurfit Kappa acquired Mondi's corrugated packaging business for €260 million. The acquisition expanded Smurfit Kappa's presence in Central and Eastern Europe.
• DS Smith and Europac: In order to provide a bag-in-box solution for Amazon, the US-based liquid packaging and dispensing solution supplier Liquibox teamed up with the corrugated packaging business WestRock in July 2021.
• Graphic Packaging and International Paper's North America Consumer Packaging Business: In 2021, Graphic Packaging acquired International Paper's North America Consumer Packaging Business for $1.8 billion.

► Shipment Facts
According to data from the Fibre Box Association (FBA), US box shipments in September reached roughly 32.7 billion ft2, much less than the average of 34.5 billion ft for Septembers in 2021 and 2020. Total US actual box shipments in the third quarter of 2022 decreased by 4.5% year over year, and box makers in the fourth quarter.

The post-pandemic transition patterns and concerns about a future recession have dimmed the prognosis for demand in 2022-2023 by 5% to 32 Million tons, but producers are still boosting supply, adding yet another fundamental shift for the market.

► Scope of the Study
Makreo research has published study on packaging market specific to corrugated boxes titled, "United States Corrugated Packaging Market Analysis & Forecast (2018-2028)". The study evaluates corrugated packaging market demand and production facts with detailed assessment of past and present market trends. Market has witnessed many shifts in recent past that has impacted profit margins of the players but also accounted for rise in demand. E-commerce is an emerging sector in the country that has given significant push to the corrugated box demand. Report is the right blend of qualitative and quantitative factors with macro-economic and micro-economic assessment. Competition has also been studied to verify our assessment using bottom up approach.

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This release was published on openPR.