Corrugated Packaging Market Overview:

The Corrugated Packaging Market Size was valued at USD 267.98 billion in 2021. The corrugated packaging market industry is projected to grow from USD 281.38 Billion in 2022 to USD 415.73 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5% during the forecast period (2023 - 2030).

The corrugated packaging industry is seeing revenue growth as a result of growing environmental concerns and increased demand for corrugated boxes from various end-use industries for packaging.

Since corrugated packaging is robust and long-lasting, it safeguards food and beverage goods throughout long-distance transport and handling by various workers. Moreover, corrugated boxes can be altered to be "right-sized" for the goods. Customized branding is a great method to wow customers since it appears professional and suggests that a company is serious about its business. Also, businesses customise packaging, which is crucial for fostering customer loyalty and promoting repeat purchases.

Besides very economical and fully biodegradable, corrugated packaging may be recycled and used repeatedly. For those who care about the environment and want to do rid of single-use plastics, corrugated stands out as the ideal option.

The population is growing quickly, and consumers are eager to favour businesses that strive for sustainability. The food and beverage industry has embraced corrugated packaging options to boost future sales and revenue development.

Corrugated packaging industries frequently employ the growing trends of Al and Machine Leaming (ML). The use of 3D printing in industrial settings is growing. Al might be able to see a packaging created by an algorithm that is perfect for a certain product.

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Businesses may boost profitability by reducing labour costs and enhancing production. Al-enabled computers handle data more rapidly and effectively than humans do, and they are also more accurate.

Al-enabled computers also learn new things 20% faster than their human counterparts do. Al will help the packaging sector advance the Shift to sustainable practises by streamlining the supply chain and inventory management, enhancing the efficiency of distribution channels, and monitoring the movement of goods. Artificial intelligence is able to automate the production process and anticipate demand and consumption. By doing this, production waste is decreased. Al can also produce many packaging choices, which lowers complexity and resource needs.

Yet, there have been considerable technical developments to meet the need. Another element boosting the expansion of the corrugated packaging market's revenue is the numerous corrugated packaging factories that have been introduced.

Regional Insights for Corrugated Packaging:

North America, Europe, Asia-Pacific, and the Rest of the World are the regions into which the study divides the market. In 2021, the market for corrugated packaging in the Asia-Pacific region was predicted to reach USD 153.226 billion and grow at a 6.1% CAGR. Asia Pacific's packaging industry is growing quickly. China has consistently ranked in the top 15 nations in terms of output of corrugated sheets, with India, South Korea, and Australia.

Asia Pacific is making sure they retain its dominance in the global corrugated packaging market. The region covers around 35% of the global market. Burgeoning industries in China, India, South Korea, and others are backing the regional corrugated packaging market.

From 202 to 2030,2the North American Corrugated Packaging Market is anticipated to expand at a CAGR of 3.3%.

The market for corrugated packaging has seen revenue increase due to rising environmental consciousness. Important businesses are making efforts to achieve sustainable goals. Moreover, Canada has the greatest market share for corrugated packaging. To cut costs and improve the visual impression when unwrapping, corrugated boxes used for e-commerce are more likely to be printed with high-quality graphics and tailored to suit bundled contents. Also, to give more flexible and customizable solutions, corrugated board packaging producers work closely with online retailers, and the US corrugated packaging industry had the fastest growth in the entire of North America.

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Analysis of the Corrugated Packaging Market by Segment:

The global corrugated packaging market was studied by MRFR research analysts and they have segmented it on the basis of wall construction, type, material, and application. A proper assessment of these segments reveals figures related to volume and value that could help in an understanding of market dynamics. 

By type, the study of the global corrugated packaging market includes segmentation of self-erecting boxes, rigid boxes, slotted boxes, telescope boxes, and others. The rigid boxes segment had the largest market share in 2018 and it will continue its market reign during the forecast period. The telescope boxes segment includes a full telescope design container and a half telescope design container. The slotted boxes segment has segments like half slotted containers (HSC), regular slotted containers (RSC), and full overlap slotted boxes (FOL).

By wall construction, the global corrugated packaging market includes a study of single-wall, double-wall, and triple-wall. The single-wall segment dominated the market in 2018 and it will also score the fastest CAGR during the forecast period.

By material, the global corrugated packaging market includes linerboard, medium, and others. The linerboard segment has the largest market share.

By application, the global corrugated packaging market includes electronic goods, food & beverages, personal care, pharmaceuticals, and others. In 2018, the food & beverage segment had the largest market share. 

Key Players:

Mondi Group Plc (South Africa), International Paper Company (U.S.), West Rock Company (U.S.), DS Smith Plc (U.K.), Rengo Co. Ltd. (Japan), Cascades Inc. (Canada), Packaging Corporation of America (U.S.), Georgia-Pacific LLC (U.S.), Smurfit Kappa Group (Ireland)

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Industry News:

In August 2020, Valmet announced that the company would supply Valmet IQ quality management system to PJSC Kyiv Cardboard and Paper Mill. The facility is in Kiev, Ukraine. This system will get installed in the corrugated packaging plant, where the chief focus is on modernizing the infrastructure. This investment has a specific focus on improving the quality of the corrugated board and while doing so, it will also increase productivity and profitability. The Valmet IQ quality management system is getting acknowledgment from several quarters for its effective use in Corrugator plants.

The global market for corrugated packaging got impacted by the COVID-19 as several chains of supplies got disrupted by stringent measures implemented by governments as countering tactics to prevent the disease from spreading. However, the recent relaxation of the laws can bring the market back on track in coming years.