Corrugated Packaging Market Overview:
Corrugated packaging market is projected to be worth USD 415.73 Billion by 2030, registering a CAGR of 5% during the forecast period (2022 – 2030), The market was valued at USD 233.61 billion in 2021.
The packaging business has seen significant expansion in recent years, particularly in the global corrugated packaging market. Corrugated boxes are gaining popularity in the food and beverage and e-commerce businesses around the world.
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Thus, corrugated board packaging is a flexible and cost-effective way to protect, store, and transport a variety of items. The characteristics of corrugated boards, such as their lightweight, biodegradability, and recyclability, have made them an important component in the packaging market.
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Covid 19 Analysis:
The COVID-19 episode began in Wuhan, China, in December 2019, and has rapidly spread around the world since then. the corrugated packaging market growth has been affected because of the outbreak of the pandemic. As of March 2020, China, Italy, Iran, Spain, the Republic of Korea, France, Germany, and the United States are among the most clearly affected nations in terms of specific incidents and detailed passing. Because of lockdowns, travel boycotts, and commercial closures, the COVID-19 episode has had an impact on economies and ventures in various countries. Because of this episode, the global food and beverage industry is one of the major organizations experiencing genuine disruptions, such as store network breaks, innovation event undoing, and office closures.
The ongoing period for the corrugated packaging market is witnessing an emerging trend in the form of wide-scale adoption of packaging material especially corrugated packaging making it more acceptable in the market. Corrugated board is in high demand as a high-performance packaging material for packaging, protection, and promotion of a variety of products all over the world. Corrugated board is available in a variety of shapes and sizes for packaging, as well as easy modification to meet consumer needs. Even the key market players play a major role in the expansion of the material and growth in the market. The major key players’ locations are the USA, South Africa, the UK, Ireland, Japan, and Canada who are targeting widespread growth during the forecast period ending in 2030.
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Based on the type, the market has been segmented as follows:
Based on the application, the market has been segmented as follows:
Based on the material, the market has been segmented as follows:
Based on the region, the market has been segmented as follows:
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