Corrugated packaging finds widespread applications in various industries such as food and beverages, personal care, pharmaceuticals, electronics and home furnishing. It provides excellent protection from mechanical damage and environmental factors. Some key advantages of corrugated packaging include durability, lower costs than alternative packaging types and sustainability as it is manufactured using renewable and recyclable resources. The growing e-commerce industry has boosted demand for effective and affordable packaging solutions to ship goods to customers, thus driving demand for corrugated packaging.
The Global corrugated packaging market is estimated to be valued at US$ 152.17 Bn in 2024 and is expected to exhibit a CAGR of 4.2% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the corrugated packaging are DS Smith Packaging Limited, Menasha Corporation, Green Bay Packaging Inc., Georgia-Pacific, LLC, Smurfit Kappa, WestRock Company, Pratt Industries Inc., International Paper, Express Packaging Inc., Precision Corr, Gabriel Container Co.
Key opportunities in the market include expansion into emerging economies with growing industries and rising disposable incomes. Growth of online retail is also opening opportunities for corrugated boxes manufacturers to supply e-commerce friendly and sustainable packaging solutions.
Advancements in corrugated board materials, designs and printing technologies are helping achieve longer shelf-life, better graphics and ensuring product safety during transportation. Developments in reusable, returns-friendly and customized corrugated packaging designs catering to specific product and market needs are also shaping the market dynamics.
Market Drivers
The growing e-commerce industry is a key driver for the Corrugated Packaging Market Size. Online shopping has surged since the pandemic with customers avoiding physical stores and preferring contactless deliveries. This has boosted demand for corrugated boxes and other packaging from e-retailers to ship goods safely. Other factors like increasing industrialization and globalization leading to more dependencies on logistics for trade. Growing consumer goods and food processing sectors also drive the need for effective and affordable packaging like corrugated boxes and containers.
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