Corrugated Packaging Market Size, Share and Forecast 2023

Posted by sagark on March 27th, 2020

Corrugated Packaging Market Size Overview

Corrugated board is made by combining two sheets of paper called liners that are glued to a corrugated inner medium called fluting. Packages made from such board are called corrugated packages. Market Research Future (MRFR) has published a research report about the global Corrugated Packaging Market Size that predicts huge economic prospects for this market during the forecast period between 2017 and 2023.

Major factors aiding the global Corrugated Packaging Market Size include rising population and growing per capita income. Other important driving factors are growing applications across burgeoning industries and restricted use of plastic packaging material. Scientific research has proven that corrugated packages can reduce the risk of microbiological contamination of food products, thus, prolonging their shelf life by up to three days. As corrugated packaging material is made from up to 85% recycled materials, its use can also reduce pollution. Corrugated packaging is among the most preferred packaging formats for the products of all sizes.

The global Corrugated Packaging Market Size is expected to reach ~USD 250.9 billion by 2025 and is expected to witness ~5.9% CAGR during the forecast period.

Key Players

Archis Packaging India Pvt. Ltd., Mondi Group (US), Smurfit Kappa Group (Ireland) , International Paper Company (Tennessee), Orora Packaging Australia Pty Ltd (Australia), WestRock (US), Georgia-Pacific LLC (Atlanta), KapStone Paper, Europac Group (U.K.), Packaging Corporation (US) and Nefab Group (Sweden) are some of the leading players of the Global Corrugated Packaging Market Size. Profiling them in its analysis, MRFR explores strategies that keep them at the forefront of competition.

Competitive Analysis

The Corrugated Packaging Market Size is competitive and fragmented owing to the presence of several big & small market players forming a competitive landscape. Key players are adopting the strategic trend of business expansion in the emerging markets.

Key market players are keen on taking care of ecological norms. In order to manufacture cardboard boxes without affecting the containers’ strength or durability; they reinforce corrugation inside the panels. This resultantly reduces both cost and wastage.

In order to survive and create new markets; manufacturers rely on innovation. Therefore, they keep themselves abreast of the new technological developments and latest consumer trends by developing human capital.

Segments

For the convenience of the report and enhanced understanding; the market of Corrugated Packaging is segmented in to 4 key dynamics.

By Types                                 :  Comprising Slotted boxes, Self-Erecting Boxes / Auto-Bottom Boxes, Bliss / Rigid Boxes & Telescope boxes, etc.

By Applications                       : Personal Care, Food & Beverages, Pharmaceuticals & Healthcare, Electronic Goods, Paper Industry, among others.

By Wall Construction :  Single, Double and Triple-wall corrugated packaging.

By Regions                              :  North America, Europe, APAC and Rest of the World.

Geographical Analysis

North America market in 2016, dominated the global Corrugated Packaging Market Size with 33.4% share. The region is further expected to grow at 5.69% CAGR during the review period. This growth of the region attributes to the burgeoning e-commerce industry fueled by the increasing cross-border trade and huge demand for online shopping.

On the other hand, Asia-Pacific region, emerging as the fastest growing market of Corrugated Packaging registered 6.39% of a CAGR in 2016. Growing with the lucrative opportunities in packaging industry and growing ecommerce industry in the region, APAC is expected to register a fabulous CAGR during the forecast period.

Get Full Report With Complete TOC @ https://www.marketresearchfuture.com/reports/corrugated-packaging-market-1205