Global Corrugated Fiberboard Market: Scaling Up to US$ 187.9 Billion by 2033 with a Consistent 5.9% CAGR

Introduction

In the ever-evolving landscape of packaging solutions, Corrugated Fiberboard Market stands out as an enduring and sustainable choice. As the world embraces eco-conscious practices, the demand for eco-friendly packaging materials has surged, and corrugated fiberboard has proven to be a frontrunner. In this article, we delve deep into the Corrugated Fiberboard Market, shedding light on its importance, growth, and advantages.

Corrugated Fiberboard Market: An Overview

Corrugated Fiberboard Market refers to the industry dedicated to producing corrugated fiberboard, a versatile material widely used in packaging. It comprises multiple layers of paperboard sandwiched together, with a wavy inner layer that provides exceptional strength and durability. This unique structure makes it ideal for a wide range of applications, from shipping boxes to point-of-purchase displays.

Between 2023 and 2033, the corrugated fiberboard market is poised for impressive growth, with an estimated average compound annual growth rate (CAGR) of 5.9%. By the year 2033, the market is projected to command a substantial market share of US$ 187.9 billion, while in 2023, it is anticipated to start at a value of US$ 105.9 billion.

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Key Takeaways: Global Corrugated Fiberboard Market

1. By flute type, the combination flutes corrugated fiberboard segment is expected to grow 2.1x by the end of 2032.
2. The global corrugated fiberboard market was valued at around US$ 94.1 Billion in 2021.
3. By end use, the e-commerce segment is anticipated to generate a share of nearly 11% in the forecast period and exhibit growth at a CAGR of 8.1% from 2022 to 2032.
4. Top five key players are likely to hold 10-15% of the corrugated fiberboard market share in 2022.
5. Total sales of corrugated fiberboard are estimated to reach US$ 20.9 Billion across North America by 2022.

Competitive Landscape: Global Corrugated Fiberboard Market

Some of the leading companies present in the global corrugated fiberboard include

1. Georgia-Pacific,
2. W.E. Roberts,
3. Stora Enso,
4. Nuttall Packaging,
5. Oji Holdings Corporation,
6. Corrugated Packaging Alliance,
7. Fencor Packaging Group Limited,
8. Durham Box,
9. ABBE CORRUGATED,
10. Board24,
11. Smurfit Kappa,
12. Mondi,
13. Jaineeket Enterprises,
14. Shanghai Lehui Packaging and
15. Printing Co., Ltd.
16. among others.

High quality, lightweight, and cost-efficient nature of corrugated fiberboard is another factor that would aid growth. It can also be recycled very easily as it is made from paper and reused multiple times.

"Demand for eco-friendly corrugated fiberboard is set to surge in the flourishing e-commerce and food & beverage industries over the forthcoming years. Besides, ability of these fiberboards to reduce the overall shipment cost backed by their lightweight nature would drive the market," comments a FMI analyst.

Recent Developments:

1. In November 2021, Boix Machinery India participated in India Corr Expo to showcase its new products. Further, the company has expanded its production capacity and enhanced the stacking strength of its specialized corrugated boxes for fruit exports to lower the rejection of fruits due to bruising amid shipping.
2. In May 2021, Mondi confirmed that it has completed the acquisition of Olmuksan. This acquisition is going to help Mondi to strengthen its position in the fast-growing corrugated market of Türkiye, as Olmuksan has a diverse customer base and was a key player in the Turkey corrugated packaging industry.

The Growth of Corrugated Fiberboard Market

The Corrugated Fiberboard Market has witnessed substantial growth in recent years, driven by several key factors:

1. Sustainability

One of the primary drivers of corrugated fiberboard's growth is its eco-friendly nature. Consumers are increasingly seeking products with minimal environmental impact, and corrugated fiberboard ticks all the boxes. It is biodegradable, recyclable, and made from renewable resources, making it an attractive choice for environmentally conscious businesses and consumers alike.

2. E-commerce Boom

The rise of e-commerce has led to a surge in demand for sturdy and reliable packaging materials. Corrugated fiberboard, with its excellent strength-to-weight ratio, has become the go-to choice for shipping boxes. Its ability to protect products during transit has made it indispensable in the e-commerce industry.

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Key Segmentations

By Flute Type:

Flute A
Flute B
Flute C
Combination Flutes
Micro Flutes

By Board Type:

Single Wall
Double Wall
Triple Wall

By End Use:

Food & Beverages
E-commerce
Pharmaceuticals
Cosmetics & Personal Care
Electrical & Electronics
Automotive
Transportation & Logistics
Textile

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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

This release was published on openPR.