Global Corrugated Packaging Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Corrugated Box Type (Rigid Box, Slotted Box, Folder Box, Others), By Application (Food & Beverages, Electronic Goods, Home & Personal Care Goods, Chemicals, Textile Goods, Glassware & Ceramics, Paper Products, Others), And By Geography - Forecasts From 2023 To 2028

The global corrugated packaging market is evaluated at US$305.298 billion for the year 2021 and is projected to grow at a CAGR of 4.21% to reach the market size of US$407.388 billion by the year 2028.

The rise in e-commerce is driving the worldwide corrugated packaging industry, which requires sturdy and protective packaging solutions. Printing technology improvements make corrugated packaging more visually appealing when used for branding. The demand for affordable and environmentally sustainable corrugated solutions is further increasing by urbanization, population growth, and regulatory compliance.

Corrugated materials are preferred in the growing emphasis on sustainability because they can be recycled. For instance, as per World Food India in 2023, PLA demand tripled in India, and in 2017, commercial manufacturers produced 2.05 million tons of PHA. PHA is predicted to have a USD 98 million global market by 2024, up from USD 57 million in 2019.

Growth in e-commerce

The corrugated packaging market is significantly impacted by the rapidly expanding e-commerce sector. An increasing need for packaging materials that are both long-lasting and capable of protecting delivery is a result of the rise in online shopping. In this case, corrugated packing stands out as the best option because it offers resistance and strength. Additionally, since corrugated materials are customizable, e-commerce companies can use packaging as a branding strategy to increase product visibility. Corrugated packaging, which is recyclable and biodegradable, supports eco-friendly measures as sustainability gains prominence. The versatile nature of corrugated packaging and its economical transportation further solidify its essential role in sustaining the ever-changing e-commerce sector.

In addition, the e-commerce sector in India has been growing at an increasing rate. The Government e-marketplace (GeM) recorded $2011 billion in Gross Merchandise Value in FY 2022–2023, which was a record high. Since its foundation, GeM has generated a cumulative GMV of more than 4.5 lakh crore as of July 23, 2023. Thus, considering the saving estimations, GeM has enabled savings totalling over INR 40,000 Cr since its establishment. India has over 880 million internet users as of March 2023, and over 1172 million telecom subscribers, according to TRAI's Indian Telecom Services Performance Indicators January-March 2023.

Furthermore, as per the India Brand Equity Foundation, India's consumer digital economy is predicted to increase from US$ 537.5 billion in 2020 to US$ 1 trillion by 2030, primarily due to the country's high e-commerce and tech adoption.

Moreover, e-commerce is experiencing growth in India due to factors including rising smartphone adoption, rising affluence, and affordable data plans, which are driving the expansion of e-retail. India is the world's second-largest internet market, with over 800 million users and 125.94 lakh UPI transactions in 2022.

The Department of Commerce's Census Bureau announced in 2023, that the estimated U.S. retail e-commerce sales for the third quarter of 2023 were $284.1 billion, up 2.3 percent (±0.4%) from the second quarter of 2023. The predicted total retail sales for the third quarter of 2023 were $1,825.3 billion, up 1.5% (±0.2%) from the second quarter. While total retail sales climbed by 2.3 percent (±0.4%) during the same period in 2022, the projection for e-commerce in the third quarter of 2023 increased by 7.6 percent (±1.2%). In the third quarter of 2023, 15.6% of total revenues came from e-commerce.

Additionally, the United Kingdom has the third largest eCommerce market globally. As of January 2021, consumer eCommerce accounted for 36.3% of the UK's overall retail industry, and by 2025, eCommerce revenue is expected to reach $285.60 billion.  With a 36% increase in revenue, UK online sales achieved their largest annual gain since 2007.

Indian market is projected to grow steadily. 

India's corrugated packaging market is poised for growth, driven by factors like the rising urban population, the upswing in e-commerce packaging, reduced pulp prices, and a heightened awareness about eco-friendly packaging. The increasing adoption of e-commerce activities in the country coupled with heightened use of corrugated packaging in industries such as food and beverages, home appliances, and IT electronics, are some factors aiding the market for corrugated packaging to grow in India.

Additionally, the rising collaboration and strategic partnership in the e-commerce sector in India is expected to further boost the market. For instance, in February 2022, Amazon India teamed up with Invest India and the Indian Industries Association (IIA) to launch the India ODOP Bazaar. This special marketplace on Amazon will display a variety of products from local businesses across India. These products, which have special designations like One District One Product (ODOP) and Geographical Indication (GI), include handlooms, handicrafts made by Indian artisans, and locally grown agricultural items. Hence, the rising penetration of e-commerce in India with such partnerships and collaboration is expected to boost the market for corrugated packaging in the country.

According to the International Trade Administration, U.S. Department of Commerce, the Indian e-commerce market was valued at US$46.20 billion in 2020 and is expected to reach US$136.47 billion in 2026 which is an increase of 18.29% by 2026. The increasing e-commerce industry is driven by rising urbanization, increasing spending capacity of the people and the ease it provides. Hence in the coming years with the rising e-commerce industry, the market for corrugated packaging is expected to grow.

Market Key Developments

• In September 2022, in response to its growth goal to expand Fanfold corrugated packaging solutions throughout Europe, VPK Group introduced the fit2size® brand. The company has introduced a new product based on the most recent Fanfold invention in response to the growing need for e-commerce and logistics packaging, further solidifying its goal to provide superior sustainable packaging solutions.
• In February 2022, Warmhaus, a Turkish manufacturer of boilers and radiators for residential heating, has a completely recyclable packaging option owing to a design made by Mondi, a leader in paper and packaging worldwide. All the corrugated boards in the new Monocorr Box, including the inserts that cushion the bundled goods, are 100% recyclable. Expanded polystyrene (EPS) foam inserts, which have poor recycling rates across Europe and typically wind up in landfills or incinerators after disposal, were utilized in the earlier Warmhaus packaging.
• In September 2022, Rengo Co., Ltd. declared that it had created RENCUSHION PACK, a packaging solution for online retailers. The brand name for corrugated board cushioning envelopes and their automated packing technology is RENCUSHION PACK. It is an envelope-style packaging made entirely of paper that is very flexible and protective, conforms to the shape of the product, and uses automated packing to maximize material usage. Along with these advantages, the packaging addresses several other problems that e-commerce faces.

Segmentation:

• By Corrugated Box Type
  • Rigid Box
  • Slotted Box
  • Folder Box
  • Others
• By Application
  • Food & Beverages
  • Electronic Goods
  • Home & Personal Care Goods
  • Chemicals
  • Textile Goods
  • Glassware & Ceramics
  • Paper Products
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • UK
    • France
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • Thailand
    • Taiwan
    • Indonesia
    • Others

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1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline

2. RESEARCH METHODOLOGY  

2.1. Research Data

2.2. Research Process

3. EXECUTIVE SUMMARY

3.1. Research Highlights

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

5. GLOBAL CORRUGATED PACKAGING MARKET BY CORRUGATED BOX TYPE

5.1. Introduction

5.2. Rigid Box

5.3. Slotted Box

5.4. Folder Box

5.5. Others

6. GLOBAL CORRUGATED PACKAGING MARKET BY APPLICATION

6.1. Introduction

6.2. Food & Beverages

6.3. Electronic Goods

6.4. Home & Personal Care Goods

6.5. Chemicals

6.6. Textile Goods

6.7. Glassware & Ceramics

6.8. Paper Products

6.9. Others

7. GLOBAL CORRUGATED PACKAGING MARKET BY GEOGRAPHY

7.1. Introduction

7.2. North America

7.2.1. By Corrugated Box Type

7.2.2. By Application

7.2.3. By Country

7.2.3.1. USA

7.2.3.2. Canada

7.2.3.3. Mexico

7.3. South America

7.3.1. By Corrugated Box Type

7.3.2. By Application

7.3.3. By Country

7.3.3.1. Brazil

7.3.3.2. Argentina

7.3.3.3. Others

7.4. Europe

7.4.1. By Corrugated Box Type

7.4.2. By Application

7.4.3. By Country

7.4.3.1. Germany

7.4.3.2. France

7.4.3.3. UK

7.4.3.4. Others

7.5. Middle East and Africa

7.5.1. By Corrugated Box Type

7.5.2. By Application

7.5.3. By Country

7.5.3.1. Saudi Arabia

7.5.3.2. UAE

7.5.3.3. Others

7.6. Asia Pacific

7.6.1. By Corrugated Box Type

7.6.2. By Application

7.6.3. By Country

7.6.3.1. China

7.6.3.2. India

7.6.3.3. Japan

7.6.3.4. South Korea

7.6.3.5. Taiwan

7.6.3.6. Thailand

7.6.3.7. Indonesia

7.6.3.8. Others

8. COMPETITIVE ENVIRONMENT AND ANALYSIS

8.1. Major Players and Strategy Analysis

8.2. Market Share Analysis

8.3. Mergers, Acquisitions, Agreements, and Collaborations

9. COMPANY PROFILES

9.1. International Paper Company

9.2. Mondi Group

9.3. Smurfit Kappa Group

9.4. DS Smith PLC

9.5. WestRock Company

9.6. Packaging Corporation of America

9.7. Cascades Inc.

9.8. Oji Holdings Corporation

9.9. Georgia-Pacific LLC

9.10. Nippon Paper Industries Ltd

International Paper Company

Mondi Group

Smurfit Kappa Group

DS Smith PLC

WestRock Company

Packaging Corporation of America

Cascades Inc.

Oji Holdings Corporation

Georgia-Pacific LLC

Nippon Paper Industries Ltd