Global Corrugated Packaging Market Size Worth USD USD 104.19 Billion in 2032 | Emergen Research

Growing preference to adopt sustainable and eco-friendly packaging solutions is a major factor driving corrugated packaging market revenue growth

Vancouver, Dec. 19, 2023 (GLOBE NEWSWIRE) — The global corrugated packaging market size was USD 70.81 Billion in 2022 and is expected to register a revenue CAGR of 3.9% during the forecast period, according to latest analysis by Emergen Research. Rising preference for using sustainable and eco-friendly packaging solutions and changing lifestyle trends is expected to drive market revenue growth. Corrugated packaging firms frequently use developing technologies such as Artificial Intelligence (AI) and Machine Learning (ML). AI can envision a package created by an algorithm that is perfect for a certain product. Businesses can increase profitability by reducing labor costs and enhancing output.

AI-enabled robots handle data more rapidly and effectively than humans do, and they are also more accurate. Learning new things only takes AI-enabled computers 20% as long as it does humans. AI will assist packaging industry in accelerating its transition to sustainable practices by enhancing supply chain and inventory management, optimizing distribution routes, and tracking things during transportation. AI can also be used to produce alternative packaging solutions, which lowers complexity and resource usage.

COVID-19 has affected consumer preferences for home delivery and motivated businesses to use environmentally friendly materials in their products. Urban middle-class families have switched to online shopping as a result of the COVID-19 pandemic, lockdowns, a year of intense marketing, and large deals from online merchants such as Amazon and Flipkart. There is a rising need to preserve quality of food, perishable goods, drink temperatures, and other items owing to this packaging solution’s effectiveness in the transportation process. Demand for corrugated packaging is also being favorably impacted by a preference for utilizing such packaging solutions among many end-use industries, including food and beverage, personal care, home decor and electronics, chemicals, healthcare, paper, and others.

Corrugated packaging is often impacted by extreme weather conditions. When moisture and humidity levels are high, corrugated box manufacturers must spend more time drying the products. The glue or ink might not completely dry since firms want to finish this procedure faster, giving cardboard a flimsier appearance, similar to how a sponge retains water and moisture. On the other hand, when cardboard is stored in conditions that are overly dry for an extended period, lack of moisture causes the cardboard to act as a sponge that has completely dried out. It gets harder to fold a box without destroying paper as extreme stiffness and fragility set in. These factors are limiting demand for corrugated packaging, thus are expected to restrain market revenue growth.

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Scope of Research

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Major Companies and Competitive Landscape

The global corrugated packaging market is moderately fragmented, with many large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective corrugated packaging solutions. Some major players included in the global corrugated packaging market report are:

• Mondi
• DS Smith
• International Paper
• Georgia-Pacific
• Oji Holdings Corporation
• Smurfit Kappa
• WestRock Company
• Pactiv Evergreen Inc.
• Tat Seng
• Packaging Corporation of America

Strategic Development

• On 2 February 2022, WestRock announced plans to build a new corrugated box facility in Longview, Washington for addressing growing demand from WestRock’s regional customers in the Pacific Northwest. The new facility is expected to supply all markets and industry sectors in the Pacific Northwest. When finished, this new facility will take over the site of the business’s current corrugated activities in Longview. The new facility will strengthen the integration of the mill’s containerboard activities and co-locate with the operations of the Longview paper mill.

• On 28 June 2023, with a long and successful history of developing and manufacturing innovative coding, marking, and digital inkjet printing technologies, Domino Printing Services announced the launch of a new business model for corrugated box production. Domino Digital Printing Solutions will conduct a virtual launch event to introduce its first digital inkjet-based product into the digital corrugated printing market. This company will also release a new ink set based on cutting-edge water-based ink technology in addition to this being a highly automated inkjet printing solution. In addition to providing inkjet and other coding technology equipment directly to Fast-Moving Consumer Goods (FMCG) makers in the food, beverage, and pharmaceutical sectors, the company has been providing inkjet solutions for digital printing in the packaging converter market.

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Some Key Highlights from the Report

• The recycled paper segment is expected to register a significantly fast revenue growth rate over the forecast period. Manufacturers are being encouraged to employ recycled paper in corrugated packaging as a result of rising customer interest in sustainability and environmental awareness. Paper recycling reduces air pollution by 74%, water pollution by 34%, and energy consumption by up to 50%. Reduced paper waste will result in smaller landfills. For instance, corrugated cardboard can be used to create fresh cardboard, provide sturdy package protection, or even for something completely different, such as cereal boxes. As a result, need for recycled paper for corrugated packaging is rising, which is expected to drive revenue growth of this segment.
• The flexography segment accounted for a significantly large revenue share in 2022. Printing using flexography is well known for being quick. The use of automation and quick-drying inks results in extremely high performance once the initial setup is complete. Flexographic printing is particularly well suited for such products since it offers several distinctive advantages that are worthwhile studying. Flexography printing in corrugated packaging is becoming more popular owing to factors including adaptability, a large selection of inks, performance, high-quality image reproduction, cheap production costs, and eco-sustainability, which are expected to drive revenue growth of this segment.
• The food & beverage segment is expected to register a significantly fast revenue growth rate over the forecast period. Consumers are now more likely to order food, groceries, and other necessities online during the post-COVID-19 period owing to expanding e-commerce, enhanced logistics, and supply chain improvements. Increasing consumer awareness of the environment has made packaging more significant to them. For goods, especially food products, that must withstand protracted transit delays and remain fresh upon delivery, corrugated packing protects against moisture and prevents food from decaying during the journey.

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Emergen Research has segmented the global corrugated packaging market on the basis of material type, product type, printing technology, end-use industry, and region:

• Material Type Outlook (Revenue, USD Billion; 2019-2032)
  • Kraft Paper
  • Recycled Paper
  • Others
• Product Type Outlook (Revenue, USD Billion; 2019-2032)
  • Boxes
  • Trays
  • Partitions
  • Pads
  • Others
• Printing Technology Outlook (Revenue, USD Billion; 2019-2032)
  • Flexography
  • Digital Printing
  • Lithography
• End-Use Industry Outlook (Revenue, USD Billion; 2019-2032)
  • Food and Beverage
  • E-Commerce
  • Electronics
  • Personal Care and Homecare
  • Automotive
  • Healthcare
  • Others
• Regional Outlook (Revenue, USD Billion; 2019-2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. U.K.
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of MEA

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