Global Corrugated Packaging Market: Growing Demand for Sustainable Solutions and Emerging Opportunities in E-commerce Sector

The global corrugated packaging market is a large and growing industry that is driven by the increasing demand for sustainable and eco-friendly packaging solutions. In addition, government moves to outlaw plastic-based packaging in nations like India are refocusing attention on paper packaging. Foreign direct investments (FDIs) and investments in a variety of packaging initiatives in several nations are probably going to increase quickly.

In recent years, the e-commerce sector has grown significantly as an end-user industry. The main packaging for prominent e-commerce businesses like Amazon has been corrugated board boxes, and they rely on plastic packaging for individual items. Even in nations where online shopping is already well-liked, e-commerce is predicted to continue growing.

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► Contribution by Geography
The largest corrugated paper box suppliers worldwide were China, the U.S. and Germany, which accounted for 42% share of the total value. These countries were followed by the Netherlands, Poland, Italy, Austria, Turkey, Spain, Belgium, Mexico, the Czech Republic and Guatemala, which together accounted for additional 33% of the total.

In 2023, the global corrugated market is expected to witness a moderate growth as worldwide, cardboard box usage is declining and that is not good for the economy. Companies in North America that produce the raw material for corrugated boxes reduced their capacity by approximately 1 million tones in the third quarter, and a similar situation occurred in the fourth quarter of 2022, which will have an adverse effect in 2023.

► Key Developments by Major Players
■ Noel Alimentaria and Mondi collaborated to introduce new paper-based food tray for a plant-based and meat food range.
■ A corrugated cardboard box for the shipping of medical devices via the internet was designed and introduced by DS Smith, a UK-based manufacturer of sustainable packaging. Instead of adhesive packaging with a single-use plastic insert, this revolutionary corrugated cardboard box offers a solution made of a single material.
■ Mondi has acquired the Duino mill near Trieste (Italy) from the Burgo Group for a total consideration of EUR 40 million.
■ Smurfit Kappa invested EUR 27 million in a state-of-the-art new waste management and recovery facility at its Nervión paper mill in Iurreta, Spain.

► Global Corrugated Industry Key Findings
■ Trade Performance
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 global trade.

■ Increasing Demand for Corrugated Box in Asia Pacific Region
With the presence of densely populated nations like China and India, rising urbanization, and rising per capita incomes in the regions corrugated boards and the packaging business in the Asia Pacific region has developed immensely. On the other hand, the region's growing environmental consciousness and need for eco-friendly packaging options will propel market expansion.

■ Increasing adoption of Collaborative Robotics to Packaging
Robotic technology has recently been used to automate the packing process. The packing that is done can take many different forms, including the packaging of specific product kinds, the storage of groupings of products in boxes for transit, the assembly of pallets, and the shipment of already completed pallets. Collaborative robotic arms are frequently used for this type of activity and this kind of robot is frequently employed to handle objects that are grasped by the arm using claws or suction cups.

■ Emerging Market
Europe is predicted to be one the emerging market and grow at a healthy rate between 2022 and 2027. The demand for convenience, variety, and growing health concerns among people, combined with increased awareness of the benefits of paper based boxes, are propelling the market forward in several nations across the area. The market is also being boosted by the rise of the middle class and the increase in the number of working women. In addition, prominent vendors' increased penetration in the region is projected to fuel growth.

■ Largest market share by end user
In the Global Corrugated Packaging Market, the largest market share is held by the food and beverage industry, which also uses corrugated packaging extensively. Food products like cereals, snacks, frozen foods, beverages, and more are packaged in corrugated boxes and containers. To guarantee the quality and safety of the food products, the packaging solutions must adhere to strict food safety rules and requirements.

Scope of the Study
Makreo research has published study on packaging market specific to corrugated boxes titled, "Global 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 macroeconomic and micro economic assessment. Competition has also been studied to verify our assessment using bottom up approach.

■ Period of Study:-
2018-2022: Past and Present Scenario
2023-2028 : Future Outlook of the industry

■ Market Segmentation:-
The report examines the corrugated packaging market in terms of market revenue and further breakdown into market segmentation by Geography (North America, Europe, Asia Pacific and LAMENA), and By End User (Food & Beverages, Healthcare & Pharmaceutical, Paper Products, Electrical & Electronics, Personal Care & Household, Chemicals and Others).

■ EPTD, New Technologies & Trade Performance:-
We have studied co-relation of major independent factors those have been covered under the sections:
EPTD Analysis (Economic, Political, Technological and Demographic Factors)
New Technologies
Trade Performance

■ Company's Mentioned:-
International Paper Company, Packaging Corporation of America, Mathews International Corporation, Graphic Packaging Holding, Smurfit Kappa Group Plc. , West Rock Company, DS Smith Plc., Mondi Group Plc, Oji Holding Corporation, Nine Dragons Paper Holding Limited, Rengo Co. Ltd., Cascades Inc.

For more information on the research report, refer to below link:
https://www.makreo.com/report/global-corrugated-packaging-market-analysis-forecast-2018-2028

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This release was published on openPR.