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Corrugated Packaging Market is expected To Reach USD 96.92 Billion By 2030
Corrugated packaging is biodegradable, hence it can be recycled and reused, which helps in reducing carbon footprint.
NEW YORK, WASHINGTON, UNITED STATES, June 28, 2022 /EINPresswire.com/ — The global Corrugated Packaging Market is forecast to reach USD 96.92 Billion by 2030, according to a new report by Reports and Data. Corrugated boxes are thick paper material consisting of a compressed layer of paper pulp. It is extensively used for packaging as its easy-to-open and reseal packaging designs provide benefits to the end-users. Besides, it is environmentally friendly and can be recycled. Retailers and product manufacturers also enjoy great benefits from corrugated packaging.
These boxes are used to store and transport products. The most important properties of paperboard, the driving force of the market, are its recyclability, its reusability, and its durability. Also, the growing awareness of ecological conservation makes consumers inclined to use paperboard. Besides, high-resolution graphics and two-sided printing of paperboard can enhance the brand promotion of products. Therefore, various product manufacturers choose it as packaging material.
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Rapid urbanization has changed the lifestyle of the people and, in turn, has increased the prevalence of packaging over a broad aspect, thus, augmenting the demand for the market product. The growing awareness among customers for the sustainable packaging material with the reusability of corrugated packaging is fostering the market demand. However, the usage plastics due to its cost-effective, durable, and reusable properties are hampering the market demand.
The COVID-19 impact:
As the COVID-19 crisis grows, manufacturers are quickly changing their practice and purchasing priorities to meet the required demand of a pandemic, which has cut demand for many forest product segments, majorly corrugated boxes market. Over a couple of months, there will be a series of both positive and negative shocks, as manufacturers and their suppliers respond to providers changing needs. With a poor global situation, the export-dependent economies of many regions look vulnerable.
Key companies operating in the market and profiled in the report include:
Mondi plc
DS Smith plc
The International Paper Company
Georgia-Pacific LLC
Oji Holdings Corporation
The Smurfit Kappa Group plc
WestRock Company
Pactiv Evergreen Inc
Tat Seng Packaging Group Ltd
Packaging Corporation of America.
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Further key findings from the report suggest
Rigid boxes have two similar end panels and consists of a body that can be folded from the two side panels, a top, and an unbroken bottom. The flaps are applicable to form the joints. Once these joints are sealed, the box is considered to be rigid. The segment is forecasted to grow with a CAGR of 4.0% during the forecast period.
Single-walled boxes are designed to use only a single layer of fluting. They are used for shipping in the e-commerce sector. These boxes are cost-effective and can provide offer cushioned protection as well as rigidity that is required in a shipping container.
The food and beverage segment is estimated to capture a massive share of the market because of the flourishing of the take-out food consumption and changing lifestyle patterns of individuals. The segment held a market share of 4.7% in the year 2019.
The advent of the use of corrugated packaging backed by various government awareness schemes in nations such as India is creating a demand for the use of these boxes in the packaging market. The Asia Pacific region is forecasted to grow with the highest growth rate in the forecast period due to the rise in the number of people opting for the manufacturing of paperboards.
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Segments Covered in the report
Material Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2019-2030)
Virgin
Recycled
End-use Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2019-2030)
Food & Beverage
Pharmaceuticals
Personal Care
Home Décor & Electronics
Paper Products
Others
Printing Technique (Revenue, USD Billion; Volume, Kilo Tons; 2019-2030)
Digital Printing
Lithography
Flexography
Others
Regional Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2019-2030)
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa
Get TOC of this Report @ https://www.reportsanddata.com/report-detail/corrugated-packaging-market/toc
About Reports and Data:
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
Tushar Rajput
Reports and Data
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