The global corrugated boxes market size was valued at USD 134.6 Billion in 2022 and is likely to reach USD 196.6 Billion by 2031, expanding at a CAGR of 4.3% during the forecast, 2023–2031. The increasing demand for lightweight and efficient packaging solutions for the end-use industries is expected to augment the market growth.
Corrugated boxes provide ultimate packaging solutions, for the transportation, handling, and shipping purposes for a variety of goods and materials. The boxes are stuffed with shock-absorbing materials forming cushions inside them while transporting delicate items to prevent damage. Corrugated boxes further come with eco-friendly packaging services to cater to the needs of the user. The durability and safety provided by corrugated boxes while shipping products are manipulating consumers to adopt these packaging services.
The production of corrugated cardboard was around 190 million tons in 2022, which is expected to increase more in the coming years. Goods such as cosmetics, food & retail products, home appliances, and others are packed within the corrugated boxes.
The market report finds that the COVID-19 pandemic has severely impacted the market by causing both positive and negative impacts. During the pandemic shipments of e-commerce products were fueled due to restrictions imposed by the government. The packaging of healthcare and grocery products further witnessed growth amid the pandemic. The rising demand for essential products has led to a boost in the corrugated boxes market. However, B2B packaging industries, luxury, and industrial packaging witnessed a decline in the market.
Corrugated Boxes Market Dynamics
Major Drivers
Increasing demand for eco-friendly packaging solutions drives the market. Non-biodegradable materials add to the concerns regarding waste management. Using corrugated boxes for packaging solves problems such as environmental solutions and others as the boxes are made up of 70-100% recycled and recyclable material.
- For instance, in August 2023, the Boxery launched a new line of corrugated bakery boxes to boost the demand for sustainable packaging solutions. These packaging solutions are expected to cater to both environmental and business responsibilities.
The use of corrugated boxes helps to attain goals toward sustainable development, which in turn drives the market. The production of boxes does not contain any harmful chemicals or dyes. It is cost-effective as well as ensures zero carbon footprint due to no harmful emissions.
Rising demand for versatile packaging solutions boosts market growth. The corrugated boxes are light in weight and cost-effective, and using them as a medium for brand awareness purposes, and other related content propels the market growth.
Existing Restraints
The growth of the flexible plastic packaging is likely to restrain the demand for the corrugated boxes. The flexible packaging reduces shipping costs as it lowers the packaging weight, which is expected to drop the demand for corrugated boxes. The flexible plastic packaging resulted in a 40% reduction in packaging cost, which in turn reduces landfill waste by 50% and greenhouse gas by 62%. Thus, restraining the market.
Emerging Opportunities
Increasing consumer preference to buy online from e-commerce platforms is expected to create lucrative opportunities for the market in the coming years. Major e-commerce companies are focusing on using renewable and sustainable packaging materials to reduce their carbon footprint. This is one of the major factors that are anticipated to open up new opportunities for market growth.
- For instance, in June 2023, the sustainable e-commerce platform Boox, providing zero-waste, in partnership with ReturnBear, announced the expansion of its services to the Canadian market, the first of Canada’s package-free returns network. The launch of Boox in Canada continues its global expansion plans and creates immense possibilities for brands to bring sustainable and circular services to customers.
Scope of Corrugated Boxes Market Report
The market report includes an assessment of the market trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Corrugated Boxes Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023 – 2031
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Segmentation
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Type (Slotted box, Rigid box, Telescope box, and Folder box), Material (Linerboard and Medium), Printing Ink (UV-curable, Hot-melted, Water-based, and Solvent-based), and End-user (Food & Beverage, Personal Care & Cosmetics, Healthcare & Pharmaceuticals, Textile, E-commerce, Automobiles, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Rengo Co., Ltd.; Mondi; DS Smith; Smurfit Kappa; International Paper; Mordor Intelligence; Georgia-Pacific; WestRock Company; Stora Enso; and Packaging Corporation of America; IQS Directory; Larsen Packaging.; Deluxe Packaging; Lawrence Paper Company; Associated Bag; OEM Materials & Supplies
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Corrugated Boxes Market Segment Insights
Type Segment Analysis
Based on type, the corrugated box market is segmented into the slotted box, rigid box, telescope box, and folder box. The slotted box segment is dominating the market owing to the wide use of slotted boxes for retail and product packaging. These boxes are commonly used by companies providing movers and packers services as slotted boxes are easy to carry and ship. Slotted boxes have high demand in the packers industry as these are easy to design as per the customer’s requirement and product fit design.
The rigid box segment is expected to register a considerable CAGR during the forecast period due to the increasing preference for rigid boxes by cosmetics, wine & spirits, and consumer electronics market players. Rigid boxes are usually made up of two and three-wall corrugated material which makes them strong, reliable, and ideal for major industry use such as packaging and shipping purposes.
Increasing usage of rigid boxes by electronics and wine-producing companies for packaging and shipping purposes is boosting market revenue. Moreover, the growing preference for rigid boxes by major e-commerce industry players, especially cosmetics companies is creating new opportunities for rigid box manufacturers to expand their business across various industries.
Material Segment Analysis
In terms of material, the global market is bifurcated into liner board and medium. The liner board segment is projected to register a considerable CAGR during the forecast period due to its cost-effectiveness.
The liner board is a material used in the preparation of corrugated boxes, which has 80% kraft pulp and 20% fiber. This material is also used to sheathe the sheets that sandwich the corrugated material inside the boxes. The material helps manufacturers execute effective budgeting which is expected to boost the segment growth.
Printing Ink Segment Analysis
On the basis of printing ink, the corrugated boxes market is segregated into UV-curable, hot-melted, water-based, and solvent-based. The water-based ink segment is anticipated to grow at a considerable rate during the assessment period owing to its ability to dry quickly. The water-based inks contain a minimum content of petroleum and a major percentage of water.
This makes them dry relatively quicker, making them the most preferred choice for the manufacturers. Furthermore, the pigment left by the water inks lasts long which is expected to fuel the segment growth in the coming years.
End-User Segment Analysis
On the basis of end-use, the market is segmented into food & beverage, personal care & cosmetics, healthcare & pharmaceuticals, textile, e-commerce, automobiles, and others. The e-commerce segment is expected to register a robust growth rate during the forecast period, due to the increasing popularity of e-commerce platforms selling a wide variety of goods online.
Currently, e-commerce platforms such as Amazon, Shopify, eBay, Alibaba, Rakuten, and others, offer a wide range of goods and materials frequently purchased by consumers worldwide. The developers and suppliers are located away from the user and deliver their products to the remotely located consumer efficiently.
E-commerce companies work with complex supply chains to deal with the timely delivery of goods such as groceries, personal care products, cosmetics, home, and kitchen appliances, clothing, machinery, and others. The e-commerce companies offer discounts and multiple payment options to the consumer, and the convenience of the consumer is expected to help boost the segment exponentially in the coming years.
The healthcare & pharmaceuticals segment is anticipated to register a considerable CAGR during the forecast period as corrugated boxes are commonly used in the healthcare sector for storage purposes. Major Pharma companies use corrugated boxes for packaging purposes.
These boxes are used as outer packaging for medicinal products to ensure product safety. Corrugated boxes have a resistance property to limit external influences like moisture, and other biological contamination. This helps to maintain the quality and potency of medicines and other pharma products.
- For instance, in January 2023, Amcor a global leader in developing and producing responsible packaging solutions, announced an agreement to acquire Shanghai-based MDK. The addition of MDK also strengthens Amcor’s leadership in the broader Asia Pacific medical packaging segment.
Regional Analysis
In terms of region, the global corrugated boxes market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in North America is dominating with the rising demand for corrugated boxes from food, healthcare, e-commerce, and other industries. Corrugated boxes are commonly used for packaging and shipping purposes across several industries.
With the presence of major e-commerce companies in the US such as Amazon, eBay, Walmart, and others, the demand for corrugated boxes in the region is expected to be steady for now but slightly increasing during the forecast period. In the US, major pharma and healthcare companies commonly use corrugated boxes for shipping delicate medical instruments as these boxes are made up of strong and reliable material.
Moreover, key manufacturers present in the rapidly growing cosmetics industry increasingly prefer rigid boxes for shipping and delivering cosmetics products as these boxes offer premium product packaging solutions. This is creating new sectoral opportunities for the regional market to grow at a rapid pace in the coming years.
The market in the Asia Pacific is expected to register a considerable CAGR in the projected period as the companies competing in the rapidly growing regional e-commerce sector are increasingly preferring corrugated boxes for delivery purposes.
With a CAGR of 11.69%, the e-commerce sector in Asia Pacific is creating new investment opportunities for major e-commerce companies to set up their regional branches in the region. This, in turn, is expected to create new opportunities for corrugated box market players for business expansion.
The rapidly growing food and healthcare industry in the region is expected to boost corrugated box sales as these boxes are most commonly preferred by food industry players. These boxes are designed to guard the food against moisture and preserve it from rotting during transportation.
Corrugated boxes are increasingly preferred by food companies as these boxes are easy to recycle and eco-friendly which helps companies to reduce their carbon footprint. With the growing food and healthcare sector in the region, the demand for corrugated boxes is expected to grow significantly in the projected period.
Segments
The global corrugated boxes market has been segmented on the basis of
Type
- Slotted box
- Rigid box
- Telescope box
- Folder box
Material
Printing Ink
- UV-curable
- Hot-melted
- Water-based
- Solvent-based
End-user
- Food & Beverage
- Personal Care & Cosmetics
- Healthcare & Pharmaceuticals
- Textile
- E-commerce
- Automobile
- Others
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Rengo Co., Ltd.
- Mondi
- DS Smith
- Smurfit Kappa
- International Paper
- Koch Industries, Inc.
- WestRock Company
- Stora Enso
- Packaging Corporation of America
- IQS Directory
- Larsen Packaging.
- Deluxe Packaging
- Lawrence Paper Company
- Associated Bag
- OEM Materials & Supplies
Competitive Landscape
Key players competing in the global corrugated boxes market are Rengo Co., Ltd.; Mondi; DS Smith; Smurfit Kappa; International Paper; Koch Industries, Inc.; WestRock Company; Stora Enso; and Packaging Corporation of America.
These companies executed innovative business strategies such as product launches, mergers, and production expansions, research & development projects to outperform in the market improving the for instance,
- In July 2023, Mondi, a major player in sustainable packaging and paper, announced the expansion of its International Safe Transit Association (ISTA) and Amazon Packaging Support and Supplier Network (APASS) certified Performance Lab services to serve the growing demands for eCommerce customers. Mondi's Performance Lab can now also test converted solutions including corrugated boxes and MailerBAGs.
- In October 2021, Smurfit Kappa Group acquired Verzuolo. The company converted the PM9 machine into a 6,61,387-ton weighing recycled containerboard machine.
- In September 2021, Rengo Co., Ltd. announced that Vina Kraft Paper Co., Ltd., its joint venture in Vietnam, has decided to construct a new production base for containerboard to fulfill the demand for containerboard. The annual demand for container boards in Vietnam is going to increase by around 6-7% in the coming years.
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