According to Market Research Future (MRFR), the global corrugated packaging market is expected to reach USD 250.9 billion, with a 5.9% CAGR from 2019 to 2025 (forecast period).
The study identifies the strengths, opportunities, challenges, and future business risks and offers an accurate analysis of the global market situation under the influence of COVID-19.
Corrugated Packaging Market products combine cushioning with structural rigidity, offering excellent protection against fragile or heavy damage—their light and clean nature help reduce shipping costs. High-impact graphics on corrugated packaging products help to increase brand recognition, thereby helping to improve sales. In addition, corrugated packaging products are made from recycled cardboard boxes and other waste products from the paper industry. The percentage of reprocessing and recycling corrugated packaging items is also high, making them an environmentally friendly packaging option.
The global corrugated packaging market has seen substantial growth in the packaging industry over the last few years. The growing e-commerce industry, coupled with an increase in preference for sustainable packaging solutions, has further increased global demand for corrugated packaging products. E-commerce platforms have seen enormous growth in recent years due to technological advances, which have resulted in a large online customer base for corrugated packaging products.
Furthermore, the increased application in industries such as food & beverage, personal care, pharmaceuticals, consumer goods, and electronic goods has led to the industry’s overall growth. Corrugated packaging is one of the most preferred packaging for small, medium, and large products, which has boosted the global demand for these products. Growth in demand for FMCG products and branded consumer durables in developing economies such as the Asia Pacific and South America has driven manufacturers to expand their distribution network, which has further contributed to increased demand for corrugated packaging.
There are numerous government regulations which lead to restrictions on corrugated packaging, such as the packaging box, which is limited to style 201 or 204 of IS: 6481-1971, it is to have a liner (separator) from the top, bottom, and center for cushioning, to protect the fragile item during shipping, and the box used for shipping should be made of corrugated fiberboard in order to bear the weight. Owing to the growing regulation of the corrugated box industry and the rise in the price of raw materials, numerous companies have been shut down due to the inability to withstand costs.
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The global market for corrugated packaging has been segmented on the basis of type, wall construction, material, and application.
Regionally, the global corrugated packaging market has been segmented into North America, Europe, Asia Pacific, and the rest of the world.
The Asia Pacific held the largest market share of about 35%, which is also projected to be the highest growth rate in the forecast period. This can be linked to the booming food & beverage and pharmaceutical industries in emerging economies such as India, Malaysia, Indonesia, and China, which are expected to add to the demand for corrugated packaging products in the region.
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