Corrugated Packaging Market Size Predicted to Reach USD 290 Billion by 2026
The global corrugated packaging market in 2019 was above USD 240 billion. The market is expected to grow around a CAGR of 4% and is anticipated to reach over USD 290 billion by 2026.
Corrugated board or fiberboards is made of two main components such as linear and medium. The linear is the combination of two sheets of paper, it is flat material and contains an outer surface. The medium is some special structure that is flutes or arches. Such three layers of paper are assembled in a manner that gives a stronger strength to the overall structure than that of each separate sheet. This construction of boards possesses the ability to support the weight. This structure provides rigidity and resistance to the corrugated board. The flutes allow air circulation which acts as an insulator and provides protection over different temperatures.
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Corrugated packaging is made of natural material which is cost-effective and can be recycled easily. Increasing demand for corrugated packaging in various industries is driving market growth. Moreover, government regulations towards the eco-friendly material, increasing demand from e-commerce industries are propelling the market. However, humidity and moist weather can decrease the strength and firmness of corrugated boards, which may produce restraints in the market growth. On the other hand, with increasing demand from online sellers, the supermarket is expected to create ample opportunities in the corrugated packaging market.
The corrugated packaging market is segmented based on box type, application, wall construction, and region. On the basis of box type segmentation, the market is classified into a folding box, slotted box, telescope box, and rigid box. By application segmentation, the market is divided into processed foods, fresh food, and products, beverages, paper products, electrical products, others. And by wall construction, the market is bifurcated into single-wall, double-wall, and triple-wall.
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Top Market Players
Some of the essential players operating in the corrugated packaging market, but not restricted to include Mondi Plc, Newark Group, and Nippon Paper Industries Co. Ltd. Holmen AB, Georgia-Pacific LLC, MeadWestvaco Corporation, DS Smith Plc, Smurfit Kappa Group Plc., Nine Dragons Paper (Holdings) Ltd., International Paper Company, Weyerhaeuser Company, Vinda International Holdings Ltd., Bio Pappel S.A.B. de C.V., OJI Holding Corporation, Lee & Man Paper Manufacturing Ltd., Svenska Cellulosa Aktiebolaget, Mayr-Melnhof Karton AG, Sonoco Products Company, Amcor Ltd., Stora Enso Oyj, and others.