USD 126.2 billion
Global Corrugated Board Market Size, Share, Growth Analysis, By Flute Type(A-Flute, B-Flute), By Board Style(Single Face, Single Wall), By End-Use(Food & Beverages, Personal Care) - Industry Forecast 2024-2031
Report ID:
SQSG15H2005 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
93 |
Figures:
76
Global Corrugated Board Market Insights
Corrugated Board Market size was valued at USD 126.2 billion in 2019 and is poised to grow from USD 134.7 billion in 2023 to USD 238.1 billion by 2031, growing at a CAGR of 6.8% in the forecast period (2024-2031).
Rising need for greener packaging solutions and an extensive growth in the demand for packaging solutions and packaging products due to the rise in several e-commerce platforms worldwide are the major driving factors for the growth of the global corrugated board market during the forecast period. In addition, the characteristics of a corrugated board such as highly recyclable and presence of fluting medium to prevent from shocks and pressure are also anticipated to contribute significantly to the demand for corrugated boards in the coming years.
For instance, according to Morgan Stanley, in South Korea, due to the presence of well-developed payments and logistics infrastructures, online sales segment accounted for around 37% in all retail activity, and it is expected to grow by 45% in the next five years. Similarly, Morgan Stanley estimated that the global e-commerce could grow from USD 2.3 trillion in June 2022 to nearly USD 5.4 trillion by 2031.
Furthermore, continuously growing innovations and rising investment by key market players for the development of their product portfolio and market position is projected to propel the global corrugated board market over the forecast period. For instance, in May 2022, Mondi Group announced that it is going to invest around USD 275 million to increase the production of corrugated board. It will help it to increase supply capacity in Poland, Germany, and Turkey.
US Corrugated Board Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Personal Care
Fastest Growth
Personal Care
Growth Rate
6.8% CAGR
Global Corrugated Board Market ($ Bn)
Country Share for Asia Pacific Region (%)
Country Share for North America Region (%)
Global Corrugated Board Market By End-Use ($ Bn)
Global Corrugated Board Market By End-Use (%)
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Global Corrugated Board Market Segmental Analysis
Global Corrugated Board Market is segmented on the basis of flute type, board style, end-use, and region. By flute type, the Corrugated Board Market is segmented into A-flute, B-flute, C-flute, and others. By board style, the Corrugated Board Market is categorized into single face, single wall, double wall, and triple wall. By end-use, the Corrugated Board Market is classified into food & beverages, personal care, electrical & electronics, and others. By region, the Corrugated Board Market is divided into North America, Europe, Asia Pacific, Latin America, and MEA.
Corrugated Board Market Analysis by Flute Type
By flute type, the C-flute type segment dominated the market and accounted for a significant market share in 2021 and is expected to maintain its dominance throughout the forecast period owing to rapid growth in demand for several applications including shipping case, glass products, furniture, and automotive sector. These carboard are stackable and have higher shock absorption capacity due to the presence of a thick corrugated medium. Thereby, the demand for these boards are continuously rising in various industries for safer and convenient packaging, which has led to the rapid growth in the segment in the last few years. In addition, due to its plain surface and flat structure, it allows high-quality print on the surface, which can be utilized on several food boxes as a packaging option. For instance, WestRock Company offers corrugated board pizza boxes, slice boxes, and take-and-bake pizza boxes as well.
Corrugated Board Market Analysis by Board Style,
By board style, the single wall segment held the largest corrugated board market share in 2021 with a holding of healthy market share. This is simply attributed to the high usage of these boards as a supplemental protective material, divider, and partition outer and inside a packaging. In addition, these boards are light weight, which reduces the overall weight of the package and lowering the shipping charges as well. These are few other factors projected to drive the segment growth over the forecast period. These boxes are suitable to be shipped through different transportation modes like by air or by road, which is likely to attract the manufactures are suppliers to opt out for these boards in place of other.
Global Corrugated Board Market By End-Use, 2023 (%)
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Global Corrugated Board Market Regional Insights
Globally, Asia Pacific dominated the corrugated board market with a strong market share in 2021. High growth in industrialization and growing urbanization in the developing countries such as India and China are the major factors drive the market growth and demand in the region. In addition, rising awareness among consumers regarding environment effects is also anticipated to grow the demand for greener packaging in the region over the forecast period. Government initiatives such as ban on plastic products and packaging is also having positive influence on the market and accelerating the demand for corrugated boards.
Furthermore, North America region is witnessing fastest CAGR during the forecast period owing to the rapid growth in e-commerce platforms, rising consumer disposable income, and growing awareness regarding benefits of greener packaging. For instance, according to the United States Department of Commerce, the United States online retail sales was around USD 601 billion in 2019 with an increase of nearly 15% from the previous years. Furthermore, presence of large market players such as Smurfit Kappa Group and Acme Corrugated Box Company is also anticipated to boost the growth of the market for corrugated board in the region.
Global Corrugated Board Market By Region, 2024-2031
- Largest
- Fastest
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Global Corrugated Board Market Dynamics
Corrugated Board Market Drivers
- Rising demand for customized corrugated board in several types of shape and sized for the packaging of material by different industries is a key factor projected to drive the growth of the global corrugated board market over the forecast period. Moreover, growing consumer awareness about the recyclable materials used in a corrugated board coupled with the extensive need for environment friendly packaging material are also expected to propel the market growth in the coming years.
Corrugated Board Market Restraint
- Limitations of corrugated boards in the packaging and carrying heavy materials is anticipated to hinder the global demand for these boards during the forecast period. Corrugated boards are lightweight and not capable to carry heavy items into them, which is likely to restrain the market growth. In addition, corrugated boards are not a great choice for weatherproofing packaging option and transportation among individuals is also projected to hamper the global market in the coming years.
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Global Corrugated Board Market Competitive Landscape
The global corrugated board market is fairly fragmented with the presence of many well-known global and regional players operating around the globe. Major players are constantly improving their product quality and focusing on providing sustainable and eco-friendly packaging products to capture the larger market share. Moreover, companies are entering into various business partnerships, collaborations, and mergers to expand their geographical presence and strengthen their position in the global market.
Corrugated Board Market Top Player’s Company Profiles
- International Paper Company
- Smurfit Kappa Group
- WestRock Company
- Mondi Group
- Packaging Corporation of America
- Nine Dragons Paper Holdings Limited
- Lee & Man Paper Manufacturing Ltd.
- Georgia-Pacific LLC
- DS Smith Plc
- Oji Holdings Corporation
- Stora Enso Oyj
- Svenska Cellulosa AB
- KapStone Paper and Packaging Corporation
- Hokuetsu Kishu Paper Co., Ltd.
- Rengo Co., Ltd.
- Nippon Paper Industries Co., Ltd.
- Pratt Industries Inc.
- U.S. Corrugated Inc.
- Bio Pappel S.A.B. de C.V.
- Visy Industries Australia Pty Ltd.
Corrugated Board Market Recent Developments
- In April 2022, DS Smith, a leading sustainable packaging provider in UK, announced the launch of its new corrugated box for e-commerce platforms to improve the shipment of medical devices. This new and latest corrugated board developed by DS Smith features a single-material solution in place of glued packaging with the help of a single-use plastic insert.
- In July 2022, WestRock Company, a leading manufacturer of containerboard and packaging products in the United States have entered into a strategic agreement to acquire remaining interest in Grupo Gondi for a value of USD 970 million. After the completion of this agreement, the WestRock Company will enhance its position in the growing containerboard and packaging materials market.
Global Corrugated Board Key Market Trends
- Increasing prevalence of corrugated board packaging in place of plastic packaging as an alternative for many different-different applications across the globe is creating lucrative growth opportunities for corrugated board market. Many industries are adopting corrugated packaging as main packaging material because it can be created easily, recyclable, and lowering the overall shipment cost as well, which has resulted in fostering the market growth in the recent years and expected to do so in the near future.
Global Corrugated Board Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the global corrugated board market is witnessing a strong growth during the forecast period due to the rising number of online consumers around the world, increasing preference for fresh baked foods items such as pizza and burgers, and rising population worldwide. In addition, features such as maximum protection, easy to customize, great for branding, and offer flexibility are some of the major factors expected to drive the demand and growth for the corrugated board in the coming years. However, complications associated with the usage of these boards like lack of durability, not weatherproof, and inability to handle heavy items are few factors anticipated to be the major restraining factors for the global market over the forecast period.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 126.2 billion |
| Market size value in 2031 | USD 238.1 billion |
| Growth Rate | 6.8% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Corrugated Board Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Corrugated Board Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Corrugated Board Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Corrugated Board Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Corrugated Board Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Corrugated Board Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Corrugated Board Market Report Snapshots
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