Corrugated Packaging Market

Corrugated packaging market: Growth Summary

Booming urbanization levels and the rising disposable income of many individuals around the globe have led to an increased demand for varied products and appliances. These products and gadgets have to be protected from external damages. To protect these products, corrugated boxes emerge as the best option. Thus, this aspect will emerge as a prominent growth-generating factor for the corrugated packaging market during the assessment period of 2021-2031.

Corrugated packaging is used in the packaging of various products across numerous sectors such as the food and beverage industry, glassware, chemicals, ceramics, electronics, paper, personal care, household products, and textiles. The affordability quotient also plays a major role in the growth of the corrugated packaging market. They have a plethora of properties such as lightweight, high tensile strength, and others that help in increasing the demand. Thus, all these aspects bode well for the growth of the corrugated packaging market.

Transparency Market Research has conducted extensive research on the corrugated packaging market. Various factors are taken into consideration while conducting research. Factors like current market scenario, projections, competitive dimensions, COVID-19 impact, latest trends, and recent developments are studied extensively by experienced research team of Transparency Market Research. The report provides knowledgeable insights to the stakeholders and CXOs involved in the corrugated packaging market.

Corrugated Packaging Market: Competitive Dimensions

The corrugated packaging market has numerous international and domestic players. The players are involved in fierce competition. The players invest in research and development activities as well as focus extensively on strategic collaborations, eventually increasing the growth rate of the corrugated packaging market.

Some leading players across the corrugated packaging market are Mondi Group, All Packaging Company, Georgia-Pacific LLC, Smurfit Kappa Group, Montabello Containet Company LLC, and Evergreen Packaging.

Corrugated Packaging Market: Key Trends

Changes in consumer behavior over the years in terms of shopping have led to tremendous advancements over the years. The inclination of individuals toward e-commerce is increasing at a rapid rate and hence, this factor will have a large impact on the growth of the corrugated packaging market. With the rising influence of globalization around the world, the growth of the online shopping industry is expected to bring great growth prospects for the corrugated packaging market. Sustainability also plays a vital role in the expansion of the corrugated packaging market.

Sustainability plays a key role in the growth of the corrugated packaging market. The world is going through a transformation in terms of environmental conservation. With an increase in awareness about the rising global warming and pollution levels, the government bodies of numerous countries are focusing on decreasing the harmful impact of pollution and other aspects on the environment. Recycling programs and initiatives are being organized by varied government and non-government organizations. These initiatives help in maintaining sustainability levels.

Corrugated boxes are one of the most recycled packaging materials around the world. Encouraging individuals to recycle corrugated boxes is gaining traction. As corrugated boxes can be easily recycled, they are proving to be the preferred packaging choice across many sectors and industries. This aspect brings immense growth prospects for the corrugated packaging market.

The flourishing e-commerce sector is estimated to invite extraordinary growth. The e-commerce sector is booming due to a range of factors such as the emergence of the COVID-19 pandemic and the ease of shopping across a number of options on shopping websites. Due to the growing demand for varied products online, the players in the e-commerce sector have started expanding their warehouse reach for storing the products. Hence, with this factor, the demand for corrugated boxes has increased greatly. These points would help in the growth of the corrugated packaging market to a considerable extent.

Corrugated Packaging Market: Regional Dimensions

Asia Pacific is expected to have a major growth share in terms of regional contribution to the corrugated packaging market. The expanding industrialization in the region and the growing demand for e-commerce sector is estimated to assure promising growth for corrugated packaging market from Asia Pacific.