Cardboard Wrap packing Market Trends And Segments Forecast To 2029

The global cardboard wrap packing market size was valued at USD 148.2 billion in 2022 and is poised to grow at a CAGR of 6.5% during the forecast period 2023 to 2029.The demand for food and beverages and the pharmaceutical industry is increasing very rapidly and in turn, the demand for packaging is also going high. Also, the increased demand for feasible packaging solutions will be driving market growth. There is an increase in demand for lightweight and easy-to-use packaging solutions that can be held responsible for the increase in demand for corrugated boxes.

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The Corrugated fiberboard Segment is Dominating the Cardboard Wrap packing Market:
The Corrugated fibreboard segment is expected to account for a larger revenue share and the market is expected to grow at double digit growth rate over the forecast years corrugated cardboard can be recycled and reused before the fibres become too weak to use, this minimises waste generation, meaning fewer products are sent to a landfill. Being fully biodegradable, the product breaks down quickly if sent to a landfill. Paper is one of the most widely recycled products in the world, offering a wide range of uses and playing an essential role in the packaging industry. Corrugated cardboard is made from paper - in its most basic form, it refers to three thick layers of paper with an inside liner, outer liner and a third sheet ruffled into waves (fluting) in between the two.

North America Leads Cardboard Wrap packing Market:
North America is expected to hold a significant market share in the global Cardboard Wrap packing market and is projected to grow at a prominent growth rate over the forecast years owing to increasing industrialization and urbanization. The Asia Pacific region is predicted to be the biggest market, with considerable growth during the projection period. The increase in consumer spending money and adjusting to new lifestyles will also help to the growth of the Asia Pacific industrial Cardboard Wrap packing industry.

Strategic New Product Launches, Mergers, Acquisitions and Agreements are the key strategies adopted by market players:
Global Cardboard Wrap packing market further reveals that the key players increasingly adopting strategies such as launch of newer products, product launches, and long-term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance, In April 2020 Electronics technology company Samsung has decided to launch a new eco-friendly packaging across its Lifestyle TV product portfolio.

The Cardboard Wrap Packing market is segmented based on product type, end user and Geography.
Based on the Product Type, the market is segmented into the following:
• Corrugated fiberboard
• Single-face board
• Single-wall board
• Double-wall board
• Others

Based on the end-user, the market is segmented into the following:
• Food and Beverage
• Beauty and Personal Care
• Pharmaceutical Electronics

Based on Geography, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• MEA

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Key player's profiles in the cardboard wrap packing market report are TetraPak, International Paper Co., Koch Industries, Inc., RockTenn Co., Graphic Packaging Holding Co., Smurfit Kappa Group plc, Amcor, Mondi Group, OCTAL, Domtar, WestRock, Packaging Corporation of America

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