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Redding, California - April 30, 2024

Corrugated Packaging Market to be Worth $206.3 Billion by 2031

Corrugated Packaging Market by Type (Single Wall, Double Wall, Triple Wall), Packaging Type (Slotted, Telescope, Fold Type & Tray), End Use Industry (Food & Beverages, Consumer Products, Pharmaceutical), and Geography - Global Forecast to 2031

Meticulous Research^®—a leading global market research company, published a research report titled, ‘Corrugated Packaging Market by Type (Single Wall, Double Wall, Triple Wall), Packaging Type (Slotted, Telescope, Fold Type & Tray), End Use Industry (Food & Beverages, Consumer Products, Pharmaceutical), and Geography - Global Forecast to 2031.’

According to this latest publication from Meticulous Research^®, the global corrugated packaging market is projected to reach $206.3 billion by 2031, at a CAGR of 4.4% from 2024–2031.The growth of the corrugated packaging market is driven by the rapidly growing e-commerce sector, the surging use of transit packaging in the food & beverage sector, and the growth of the packaging industry in Asia-Pacific. However, increasing overall packaging costs due to dynamic regulatory policies and fluctuations in raw material prices restrain the growth of this market.

Furthermore, the growing demand for sustainable & customizable packaging solutions is expected to generate growth opportunities for the stakeholders in this market. However, the additional distribution channel costs is a major challenge impacting the growth of the corrugated packaging market.

The global corrugated packaging market is segmented by type (single-face corrugated, single-wall corrugated, double-wall corrugated, triple-wall corrugated), packaging type (slotted (regular slotted container (RSC), half slotted container), full overlap container (FOL), telescope, fold type & tray, other packaging types), end-use industry (personal care & cosmetics, consumer products, pharmaceutical, food & beverage, nutrition & health supplements, home care, stationary items, other end-use industries). The study also evaluates industry competitors and analyzes the market at the regional and country levels.

Based on type, the global corrugated packaging market is segmented into single-face corrugated, single-wall corrugated, double-wall corrugated, and triple-wall corrugated. In 2024, the single-wall corrugated segment is expected to account for the largest share of above 53% of the global corrugated packaging market. The large market share of this segment is attributed to the growing emphasis on sustainable packaging solutions, increasing use of single-wall material to reduce overall packaging weight and lower shipping costs, and the growing trend of Fit-to-product (FtP).

These boxes are designed to perfectly fit the product and minimize void space. A large portion of e-commerce products are lightweight and fragile; thus, single-wall packaging offers sufficient protection for these items during transportation. Moreover, this segment is also projected to register the highest CAGR during the forecast period.

Based on packaging type, the global corrugated packaging market is segmented into slotted, full overlap container (FOL), telescope, fold type & tray, and other packaging types. In 2024, the slotted segment is expected to account for the largest share of above 58% of the global corrugated packaging market. The large market share of this segment is attributed to the growing demand for sustainable & eco-friendly packaging solutions and increasing demand for regular slotted containers, as these boxes can be customized in various sizes and shapes to fit a wide range of e-commerce products such as apparel, books, and small appliances. Moreover, this segment is also projected to register the highest CAGR during the forecast period.

Based on end-use industry, the global corrugated packaging market is segmented into personal care & cosmetics, consumer products, pharmaceutical, food & beverage, nutrition & health supplements, home care, stationery items, and other end-use industries. In 2024, the food & beverage segment is expected to account for the largest share of above 42% of the global corrugated packaging market. The large market share of this segment is attributed to the increasing use of corrugated boxes for packaging applications in the food & beverage industry, changing food consumption habits and preferences, and growing regulations and consumer pressure to reduce plastic use in food packaging. In January 2023, Cascades Inc. (Canada) launched new eco-friendly packaging made of recycled and recyclable corrugated cardboard for food packaging applications. Moreover, this segment is also projected to register the highest CAGR during the forecast period.

Based on geography, the corrugated packaging market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is expected to account for the largest share of above 55% of the global corrugated packaging market. The market growth in Asia-Pacific is driven by the growth of the transit packaging market, rising disposable incomes and consumer spending in the region, the presence of a significant portion of the global corrugated packaging manufacturing capacity in the region, growing demand for eco-friendly packaging solutions, and the rapidly growing e-commerce sector. China's corrugated packaging market is maturing and is shifting its focus towards high-value corrugated packaging solutions. Countries such as Vietnam, Indonesia, and Thailand are experiencing a surge in e-commerce and economic activity, leading to a rise in corrugated packaging demand. Moreover, this region is also projected to record the highest CAGR of above 6% during the forecast period.

Key Players

The key players operating in the global corrugated packaging market are Smurfit Kappa Group plc (Ireland), Mondi Group plc (U.K.), Packaging Corporation of America (U.S.), WestRock Company (U.S.), DS Smith Plc (U.K.), International Paper (U.S.), Rengo Co., Ltd. (Japan), Nine Dragons Paper (Holdings) Limited (China), Georgia-Pacific LLC (U.S.), Lee & Man Paper Manufacturing Ltd. (China), Oji Holdings Corporation (Japan), Greif, Inc. (U.S.), Nefab AB (Sweden), Sonoco Products Company (U.S.), and GWP Group (U.K.).

Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=5831

Key Questions Answered in the Report:

What are the high-growth market segments in terms of the type, packaging type, and end user?
What is the historical market size for the global corrugated packaging market?
What are the market forecasts and estimates for 2024–2031?
What are the major drivers, restraints, opportunities, challenges, and trends in the global corrugated packaging market?
Who are the major players in the global corrugated packaging market, and what are their market shares?
What is the competitive landscape like?
What are the recent developments in the global corrugated packaging market?
What are the different strategies adopted by major market players?
What are the trends and high-growth countries?
Who are the local emerging players in the global corrugated packaging market, and how do they compete with other players?

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Redding, California - April 30, 2024

Corrugated Packaging Market to be Worth $206.3 Billion by 2031

Corrugated Packaging Market by Type (Single Wall, Double Wall, Triple Wall), Packaging Type (Slotted, Telescope, Fold Type & Tray), End Use Industry (Food & Beverages, Consumer Products, Pharmaceutical), and Geography - Global Forecast to 2031

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