Global corrugated packaging market is estimated to be valued at USD 152.17 Bn in 2024 and is expected to reach USD 202.95 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 4.2% from 2024 to 2031.
Report Coverage |
Report Details |
Base Year: |
2023 |
Market Size in 2024: |
US$ 152.17 Bn |
Historical Data for: |
2019 to 2023 |
Forecast Period: |
2024 to 2031 |
Forecast Period 2024 to 2031 CAGR: |
4.20% |
2031 Value Projection: |
US$ 202.95 Bn |
Figure. Corrugated Packaging Market Share (%), By Region 2024
Global corrugated packaging market has been growing steadily over the past few decades. Global corrugated packaging refers to packaging materials made from corrugated fiberboard, which is a combination of linerboard and corrugated medium sandwiched together. It has several advantages over other packaging materials like excellent strength-to-weight ratio, resistance to shock and impact, ease of recyclability, abundance of raw material, and affordability. These properties have made corrugated packaging the material of choice for packing, wrapping, cushioning, and protection of goods during storage and transportation. The market is witnessing high demand from various end-use industries like food and beverages, electrical and electronics, personal care, healthcare, homecare, retail, automotive, and others. Growing e-commerce, increasing focus on sustainable packaging, development of innovative designs are some of the key factors expected to propel the demand for corrugated packaging globally.
Market Dynamics:
Global corrugated packaging market is driven by factors such as rising industrialization and urbanization, growth in the e-commerce industry, increasing focus on sustainable packaging, and development of innovative designs. However, high raw material prices are expected to restrain the market growth. Increasing demand for eco-friendly packaging presents a lucrative opportunity for manufacturers to develop innovative and sustainable packaging solutions. Changing consumer preference towards easy-to-use and convenient packaging is another growth opportunity. Innovation in terms of material, designs, grades, performance properties will continue to determine competition.
Key Features of the Study:
- This report provides in-depth analysis of the global corrugated packaging market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global corrugated packaging market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include DS Smith Packaging Limited, Menasha Corporation, Green Bay Packaging Inc., Georgia-Pacific, LLC, Smurfit Kappa, WestRock Company, Pratt Industries Inc., International Paper, Express Packaging Inc., Precision Corr, Gabriel Container Co., Paramount Container & Supply Inc., CB Group, BC Box Manufacturing Ltd., SeaCa Plastic Packaging, Solid Box, Acme Corrugated Box Co., Inc., Texas Corrugated Box., General Packaging Corporation, Daniel and John Underhill
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global corrugated packaging market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global corrugated packaging market.
Detailed Segmentation-
- By Design:
- Single wall boards
- Single Face boards
- Double wall boards
- Triple wall boards
- By Product Type:
- Boxes
- Crates
- Trays
- Octabin
- Others (Pallet, etc.)
- By End Use:
- Food & Beverage
- Electrical & Electronics
- Home care products
- Personal care products
- E-commerce
- Transportation & Logistics
- Healthcare
- Others
- By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Company Profiles:
- DS Smith Packaging Limited
- Menasha Corporation
- Green Bay Packaging Inc.
- Georgia-Pacific, LLC
- Smurfit Kappa
- WestRock Company
- Pratt Industries Inc.
- International Paper
- Express Packaging Inc.
- Precision Corr
- Gabriel Container Co.
- Paramount Container & Supply Inc.
- CB Group
- BC Box Manufacturing Ltd.
- SeaCa Plastic Packaging
- Solid Box
- Acme Corrugated Box Co., Inc.
- Texas Corrugated Box.
- General Packaging Corporation
- Daniel and John Underhill