Global Corrugated Board Market to Reach USD 277.75 Billion by 2033, Growing at 6.8% CAGR | Future Market Insights, Inc.

The global corrugated board market is projected to experience robust growth over the next decade, with a forecasted CAGR of 6.8% from 2023 to 2033. The market, valued at USD 143.86 billion in 2023, is expected to soar to USD 277.75 billion by 2033.

This growth is fueled by the rise of e-commerce and a shift toward environmentally conscious packaging solutions. As consumers become more aware of the environmental impact of packaging, the demand for sustainable alternatives, such as corrugated boards, is increasing.

Additionally, governments across the globe are enforcing stricter regulations on food packaging safety, further boosting the adoption of corrugated boards as a preferred packaging material.

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Countries like India are taking significant steps to ban plastic packaging, which is expected to accelerate the shift towards corrugated board packaging in developing regions. The rise in industrialization and international trade is also playing a crucial role in market expansion, as corrugated boards are widely used in packaging a variety of goods, including liquid bottles, fresh produce, ready-to-eat meals, and confectionery products.

The Flourishing e-commerce Sector Has The Potential to Stimulate Significant Economic Growth

The e-commerce industry is experiencing robust growth due to various factors, including the surge in online shopping driven by the pandemic and the convenience of accessing a vast array of products through online retail platforms. As the demand for a diverse range of products online continues to rise, e-commerce companies are expanding their warehousing infrastructure to accommodate the increasing demand.

Corrugated boxes are now much more in demand as a result of this issue. The corrugated board market would increase significantly with the help of these points.

Key Takeaways From The Corrugated Board Market

• The Japan market is expected to register a CAGR of 6.7% during the forecast period.
• During the projected period, the corrugated board market in the United States accounted for approximately 19.1% of the global corrugated board industry.
• During the forecast period, Sweden's market accounted for around 6% of the global market.
• Asia Pacific emerged as a prominent market, accounting for more than 40% of total revenue.

Prominent Drivers of the Corrugated Board Market

1. E-commerce Growth: The rapid expansion of online shopping has increased demand for corrugated packaging, as it is ideal for shipping and protecting products during transit.
2. Sustainability Trends: Rising consumer preference for eco-friendly packaging and corporate sustainability initiatives are pushing the demand for corrugated boards, which are biodegradable and recyclable.
3. Food & Beverage Industry Demand: The growing food and beverage sector, particularly the demand for safe and hygienic packaging solutions, is driving the use of corrugated boards in packaging fresh produce, beverages, and processed foods.
4. Lightweight and Durable Properties: Corrugated boards are lightweight yet durable, making them an ideal packaging material that reduces transportation costs while providing protection, further boosting their popularity across industries.
5. Customization and Branding Opportunities: Companies are increasingly using corrugated packaging for brand promotion, as it allows for easy customization, printing, and packaging design innovation, driving demand for specialized corrugated products.

Competitive Landscape

The global corrugated board market is large and fragmented. The market is intensely competitive among producers of all kinds, from small to large. Many well-established, century-old public firms exist, making the market unique. In other circumstances, manufacturers compete with other businesses that produce goods that are comparable to theirs and might be used as corrugated board alternatives. Services, product quality, expenses, and prices are the primary drivers of market competitiveness.

Key Players

• International Paper
• Georgia-Pacific
• WestRock Company
• Packaging Corporation of America
• Stora Enso
• Oji Holdings Corporation
• Smurfit Kappa
• Port Townsend Paper Company
• Mondi
• DS Smith

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Key Segmentations: Corrugated Board Market

By Flute Type:

• Flute A
• Flute B
• Flute C
• Flute E
• Flute F

By Board Type:

• Single Wall
• Double Wall
• Triple Wall

By End Use:

• Food & Beverages
• Pharmaceuticals
• Cosmetics & Personal Care
• Automotive
• Transportation & Logistics

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• The Middle East and Africa

Have a Look at Related Reports on the Packaging Domain:

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Passive Temperature-Controlled Packaging Solutions Market - https://www.futuremarketinsights.com/reports/passive-temperature-controlled-packaging-solutions-market-092017

Temperature Controlled Packaging Solutions for Pharmaceuticals Market - https://www.futuremarketinsights.com/reports/temperature-controlled-pharmaceutical-packaging-solutions-market-092017

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