Corrugated Packaging Market Size, Share, Forecast, & Trends Analysis 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

Corrugated Packaging Market Size & Forecast

The Corrugated Packaging Market is expected to reach $206.3 billion by 2031, at a CAGR of 4.4% from 2024 to 2031.

The growth of this market is attributed to the rapidly growing e-commerce sector, surging use of transit packaging in the food & beverage sector, and growth of the packaging industry in Asia-Pacific. Moreover, the growing demand for sustainable & customizable packaging solutions is expected to offer growth opportunities for the players operating in this market.

Corrugated Packaging Market Growth Drivers

Rapidly Growing E-commerce Sector

The E-commerce sector is experiencing rapid expansion, driven by the increasing preference for online shopping among consumers. Packaging solutions play a crucial role in safeguarding products during transit in e-commerce deliveries. As the demand for e-commerce continues to surge, there is a corresponding rise in the adoption of packaging solutions, particularly corrugated packaging.

Furthermore, e-commerce companies are exploring innovative applications of corrugated packaging beyond its traditional role of product protection during shipping. With the aim of providing consumers with a memorable unboxing experience, there is a growing emphasis on eco-friendly and sustainable packaging solutions in the e-commerce industry. For example, Unipakhellas S.A. introduced its "UNIPAK The Shop" ready packaging line in July 2023, featuring 100% recyclable corrugated cardboard. This initiative caters to various sectors, including food, retail, cosmetics, small electronic devices, and grocery delivery, underscoring the increasing significance and demand for corrugated packing within the e-commerce landscape.

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Surging Use of Transit Packaging in the Food & Beverage Sector

The food and beverage industry is experiencing a notable increase in the utilization of transit packaging, particularly corrugated cardboard. This trend is propelled by the industry's focus on ensuring the safety, sustainability, and efficiency of product delivery. Given the delicate nature of food and beverage items, meticulous handling during transportation and storage is imperative to preserve their quality and safety. Corrugated packaging offers a versatile solution, as it can be tailored to fit various food and beverage products in terms of shapes, sizes, and thicknesses, thereby minimizing movement and potential damage during transit.

Moreover, consumer preferences are evolving towards eco-friendly and sustainable packaging options for food products. Governments worldwide are enacting stringent regulations and policies to reduce the use of plastic packaging in the food and beverage industry. For instance, in November 2022, the European Federation of Corrugated Board Manufacturers (FEFCO) introduced the FEFCO Testing methodology for printed corrugated boards utilized in food applications. Additionally, in August 2021, Mondi Group plc (U.K.) launched a comprehensive range of corrugated packaging solutions tailored for the online grocery market across Central Europe. These solutions cater to a variety of goods, including perishable food items and wine bottles, ensuring they are transported in packaging optimized for their specific requirements.

These developments, coupled with government initiatives aimed at promoting sustainable packaging solutions, are expected to further propel the growth of the corrugated packaging market during the forecast period.

Corrugated Packaging Market Trends

Increasing Demand for Smart Packaging

Smart packaging is a major trend in the corrugated packaging market. Today, corrugated box manufacturers are integrating advanced technologies with interactive elements, including QR codes, IoT technology, or augmented reality features, to engage consumers and provide additional product information or promotional content. This allows companies to reduce the need for separate printed materials, thereby helping minimize waste and cutting printing costs. Smart packaging provides customers with real-time information about the product's origin, freshness, and authenticity. It allows brands to deliver content based on consumer preferences and purchase history that can help companies strengthen customer loyalty and foster a deeper connection with users.

Companies are offering corrugated packaging with QR codes printed in it to allow customers to launch dynamic engagement in the form of sweepstakes, loyalty programs, and fun questionnaires. Also, the QR codes printed on corrugated boxes could link to product information, recipes, and even interactive marketing campaigns, creating a more engaging experience for consumers. Such factors, along with the growing trend towards digital engagement and sustainable packaging practices to enhance interactive and personalized experiences for customers, are supporting the demand for smart packaging, thereby boosting overall market growth.

Corrugated Packaging Market Opportunity

Growing Demand for Sustainable & Customizable Packaging Solutions

Today, companies are embracing innovation to meet the growing demand for eco-friendly packaging and provide unique and memorable packaging experiences for consumers. Growing government regulations and consumer pressure to reduce in use of plastic packaging are further promoting the adoption of eco-friendly packaging. Corrugated cardboard offers an eco-friendly alternative.

Corrugated cardboards are made from recycled paper and can be recycled again, minimizing waste and promoting a circular economy. These boxes can be customized and designed in various shapes and sizes to perfectly accommodate a wide range of products. The thickness of the cardboard can be adjusted to provide the necessary protection for different product weights. High-quality printing allows for customization with branding elements, logos, or even QR codes for interactive experiences.

Companies are using these new innovative packaging solution approaches to minimize resource consumption and waste generation. These solutions help companies provide unique packaging designs, promote eco-friendliness, ensure product authenticity, and promote green spaces and biodiversity. Thus, the emergence of innovative, sustainable & customizable packaging solutions creates numerous opportunities for the market.

Corrugated Packaging Market Analysis: Key Findings

By Type: In 2024, the Single-wall Corrugated Segment to Dominate the Corrugated Packaging Market

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.

By Packaging Type: In 2024, the Slotted Segment to Dominate the Corrugated Packaging Market

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.

By End-use Industry: In 2024, the Food & Beverage Segment to Dominate the Corrugated Packaging Market

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.

Geographical Analysis

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 expanding 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.

Corrugated Packaging Market: Key Companies

The report offers a competitive analysis based on an extensive assessment of the leading players’ product portfolios, geographic presence, and key growth strategies adopted in the last 3–4 years. Some of the key players operating in the 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.).

Corrugated Packaging Industry Overview: Latest Developments from Key Industry Players

• In April 2024, The Boxery (U.S.) launched double-wall corrugated boxes specifically designed for the safe transport of delicate shipments to reduce damage rates in transit for various sectors such as electronics, pharmaceuticals, and retail.

• In October 2023, BHS Corrugated Maschinen- und Anlagenbau GmbH (Germany) partnered with Highcon Systems Ltd. (Israel) to automate the production of digital corrugated boards and enhance the operational efficiency of the corrugated industry.

• In April 2022, DS Smith Plc (U.K.) launched a corrugated cardboard box for e-commerce shipments of medical devices to serve the Asian market.

Corrugated Packaging Market Research Summary:

Key questions answered in the corrugated packaging market report: