The global containerboard market was valued at USD 167.6 billion in 2019 and is projected to reach USD 256.8 billion by 2027, expanding at a CAGR of 5.8% during the forecast period. In terms of volume, the market is projected to expand at a CAGR of 4.5% during the forecast period. A containerboard is the material used to manufacture corrugated boxes known as cardboard boxes. Containerboards are solid, lightweight, flexible, and made from a renewable resource, it is the most used packaging material. It is also one of the most recycled material for packaging. End-user industries of containerboard include chemical, food & beverage, consumer goods, pharmaceutical, and electronics, as they need sustainable, lightweight, and personalized packaging solutions to meet the growing demand for products.
The market is driven by factors such as growing young population with an inclination towards processed foods, presence of large population pool requiring safe and protective packaging during transportation and increasing exports of agricultural products. However, factors such as availability of alternative packaging solutions and surging costs of raw materials is expected to impede the market growth during the forecast period.
Ongoing technological advancements in the digital printing sector are expected to generate several potential opportunities in the market. Moreover, increasing adoption of advanced process along with rising demand for high-volume liner and post-print products are anticipated to further create new opportunities. Furthermore, manufacturers in the containerboard market are expected to meet heavy customer requirements by providing them with tailored requirements that includes sustainable manufacturing, material design, and significant developments in cost-effective manufacturing techniques.
Moreover, the rising need for advanced lightweight materials is projected to boost the business growth over the coming years. This is attributed to factors such as cost reduction, improving performance, and environmental concerns, dealers are providing high-performance, light-weight corrugated, and containerboard grades. Corrugated boxes are environmentally friendly and sustainable form of packaging related to other forms of packaging such as plastics metals, and others. Corrugated boxes are made using 46% recycled material.
On the basis of types, the containerboard market is segmented as kraftliners, testliners, flutings, and other. The kraftliner segment is expected to grow due to the substantial growth in the food & beverage industry around the world. Kraftliners are used for packaging food & beverages that might be placed in cold storage and humid conditions. This packaging is preferred as it offers superior efficiency as it has the consistency of packaging and packaging line. The fast growth of the online food industry is expected to boost the growth of the kraftliner segment during the forecast period. Online ordered food packers use kraftliner for packaging purposes due to its tear resistance, resilience, and elasticity.
People are opting for ready-to-eat food due to their busy lifestyles, which is driving the growth of the food & beverage segment. Packaged food requires short cooking time; thus, their demand is high among customers. Growing young population and rising number of working women fuels the demand for packaged food, which in turn, drives market growth. Food & beverage companies are increasingly adopting corrugated board packaging, as they can withstand long shipping time and keep moisture away from food products.
The food & beverage segment is expected to constitute a key share of the containerboard market. Food & beverage products includes sausages, cheese, pies, tinned vegetables, and others. These items require nutritional consistency to preserve their texture and taste and are used to shield consumables from tempering and contamination.
In terms of regions, the market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Based on region, Asia Pacific is expected to account for a dominant share of the containerboard board market, as the region offers various growth opportunities to vendors. Rise in disposable income is projected to boost the growth of the containerboard market in this region. Japan and China are major countries for the market in Asia Pacific. The market in Brazil is expected to grow at a significant pace during the forecast period due to the expansion of flower commercialization and packaging.
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Some frequently asked quetions about this report!
Additional company profiles can be provided on request.
Yes, the report covers product specific information such as kraftliners, testliners, etc.
According to the Growth Market Reports report, the market from containerboard is likely to register a CAGR of 5.8% during forecast period 2020-2027, with an anticipated valuation of USD 256.8 million by the end of the 2027.
The quarterly update for the global containerboard market is available; along with company market share analysis and volume data.
Increasing use of online channels for shopping, high demand for premium packaging and growing need of sustainable packaging solutions are some of the factors that will drive the growth of containerboard market.
Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.
The market is expected to witness decrease of around 3.6% between 2019 and 2020 owing to the negative impact of COVID-19 pandemic on the containerboard market.
The base year considered for the global containerboard market report is 2019. The complete analysis period is 2017 to 2027, wherein, 2017 & 2018 are the historic years and the forecast is provided from 2020 to 2027.
Food and beverage, pharmaceuticals and industrial are the key end-users that are driving the containerboard market.
Major Manufactures include, International Paper, Smurfit Kappa, WestRock Company, Nine Dragons Paper Industries (Dongguan) Co., Ltd., and Oji Holdings Corporation.
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